Fixed Assets and Digital Assets

This blog received 300+ visits last month.

Thanks to Google Analytics.

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My last post? October 2019.

I restructured my investment portfolio, I traded Gold sometime this year just for fun.

Got my dream job, deep learning curve there.  But it has been an enjoyable ride.

I picked up accounting knowledge, i.e. Debit, Credit, General Ledger, Profit & Loss, Balance Sheet.. learn the end-to-end business processes, learn to read the annual report.  There are still a lot to learn, I felt like a student everyday.

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So, Property.

And, Crypto.

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I cash out all fixed deposit, and non-performing stocks, putting my cash in Crypto.

They are my renovation fund, and I receive text from friends when Crypto made new ATH.

Thanks, BTC, LTC, ETH.
When I needed the cash, I imagine cashing out with extras, for food processor, glassware and silverware.

Would you consider Crypto?

Keeping cash in bank (doing nothing), expecting cash to drop in value vs peace of mind.

Keeping cash in other assets (or fixed assets), expecting volatility, risk / reward vs capital protection.

Resume... Ayumi update

I was quite bothered with Malaysia General Election.
Was following the news on TV, postings on social media.
And .. failed to allocate time for trading and forecast.

After a week of ''rehab'', I will resume with my regular postings.

Last week was a fun filled week.

Debt Free

I managed to cancel my 3rd credit card, Citibank Cash Back Platinum (Visa), RHB Platinum (Master), Standard Chartered Gold (Visa).
And called HSBC to cancel my card application.

Leaving me with UOB One Card (Visa) + UOB Lady's Card (Master) and Citibank Clear Card (Master)
Lady's Card is cool (Read more).

I enjoy the lowest credit limit from both banks.

Relieved.

Career Expansion

Work

The new team, is smaller.
As I blog earlier... [Related Post]
I doubted whether the new team would be as open as what and how I used to enjoy.

Pros:
Effective Team
Assertive Super Sales Girl (wow, she is really classic, she is assertive, but she is not offensive, I like her!)
I get more chance to configure the system for product demo, I get more exposures to solutions, and the senior consultant, he is helpful (I couldn't say I like him, but, he gave me a totally opposite personality now)

I heard that he was aggressive, crafty.
After joining the team, I can understand his pain better, and there's no way a normal person could handle situation as such, without showing much anger or resentment.  He gained my respect as a senior application consultant, the pioneer of NetSuite in KL (as far as I know of).

Dance

Finally we met!

I started learning dance from this academy, and you know, when I am given a choice to return to this academy, to teach, I feel glad.

After months and months of postpone, schedule and reschedule, we met!
The principal shared much of her experience and expectation with me.

I admire her, she kept her carefree personality, take tough things easily, responsible, even though she has to face many sakai (crazy kids), adults, and instructors..

We are starting up 3 new classes for kids bellydance.
Not one, hello.  She planned 3 classes.

"Keeping my Saturday free", this rule has been compromised.
I value this relationship, I value the opportunity, and more importantly, I want to learn to communicate with kids.

Review

Life has been good, it is a good year.  It is going to be a good year, as long as I keep my commitment.
Be Strong, Be consistent. 7 months to go.  I know I can do it.

I passed my debt crisis, now I regained my freedom, I understands, I was silly.
From this period of life, I learned an important lesson,
people who are suffering, may not feel suffer.
the process to fight for freedom may not be as tough as it seems.
Be considerate.  Take it easy.  If you want to solve a problem, be patient, do it with your heart.

Believe in God.

I read something great today:
Don't underestimate people in pain,
some may be good hiding them.

Waiting for Friday

There are a few economic releases traders will be eyeing Wednesday, but the main topic will once more be the Fed's symposium in Jackson Hole and the speech Fed chairman Ben Bernanke will give there Friday.

Today (Wednesday)
economic data includes:

10pm SG/MY Time: pending home sales at 10 a.m. ET

8:30pm SG/MY Time: second look at second quarter GDP, at 8:30 a.m ET.

2am SG/MY Time (Thursday)
The biggest release of the day comes at 2 p.m. ET, when the Fed puts out its beige book on the economy, which is sure to be picked over for any discussion of employment.

Read: http://www.cnbc.com/id/48816277

Hurricane Isaac is affecting the energy prices, check NYMEX Crude.

Here is a video that explains the basics of the EU Emissions Trading Scheme

Here is a video that explains the basics of the EU Emissions Trading Scheme.

Received a newsletter from dunno where and dunno how they get my email address...
but this video is something new to me, so I thought of posting it here to share.

EUR/GBP

The Euro erased its earlier losses against the British pound. Both the Bank of England and the European Central Bank left their key interest rate unchanged at 0.5% and 1.0% respectively. The BoE boosted the size of its asset-purchase program by 50 billion pounds.

As per market expectation, BoE keep interest rate unchanged.  And injected 50 billion pounds into the market.
GBP fall and therefore EUR/GBP rise.

GBP/USD

Last done 1.5808.
Next Support 1.5700.
Resistance 1.5890.

Market pattern: sideway between 1.5890 - 1.5730

If GBP/USD fall below 1.5800 and this support turned into resistance, there is a possibility that GBP/USD continue to face downward pressure towards 1.5700-730 and then 1.5600.

Short or Long
Short at 1.5850, SL 1.5890, TG 1.5730. 
Long at 1.5700-730, SL 30 pips, TG 1.5830.

Read: Bank of England Boosts Its Stimulus

Recovery

Monetary policy is working?
Near to Zero Interest Rate (since December 2008), Quantitative Easing, Purchasing of Long Term US Treasury Bonds, Mortgage-Backed Securities (MBS) (from 2008-2010), Operation Twist, Printing Money...

Read more from Wall Street Journal

2012 started with a boost!
For the first trading week in 2012, US major index:
Dow Jones risen 1.2%, Nasdaq Composite +2.7%, S&P 500 Index +1.6%.

Read more from Bloomberg

On the economic data front:
In the month of December 2011, US Created 200,000 Non-Farm Payroll, better than market forecast 152,000, a whopping increment from previous month (November 2011) 100,000 (revised from 120,000).

Jobless rate falls to 8.5%, better than market forecast 8.7%, compare to last month 8.7% (revised from 8.6%), lowest since March 2009 (check it out).

Holiday over~

Its the start of a new year, new week and the market is revived after many days of inactivity.

Market generally focus on the Euro zone debt crisis as we are coming close to the repayment of sovereign debts.
Watch Italy, and Spain.

read:
World’s Biggest Economies Face $7.6 Trillion Debt

Next I am going back to the chart for some insights. :)

In love with this new nail color, gonna try it!

Blessed 2011

Looking back… and looking forward.

I am blessed.

**I went to RT Pastry yesterday; I pointed at this cake and told the girl I wanted this Green Tea cake. Then realized this cake is smaller than the regular small cake, it is only 300 grams! **
**Special Cake for Special Event, for a special person like myself and family! **



I though 2011 was a bad year… and last night while reflecting how I spent my 2011… I found -- this is the most meaningful year for me.

I experienced the ups and downs being a trader, won the lottery - big wins, how I hit the jackpot for Gold rally, DJIA, and CL… and also lost a big chunk of money in GTI, many small losses FX.

These losses seems to occur towards end of the year… this central tendency made me wonder if 2011 was a bad year.  Reflection is a powerful tool, if you roll back, and counting the blessing, you'll find the world a better place.

I successfully became a certified coach for APSRI Trader ProMaster module. Carried out a few workshops. It is a paradigm shift and I learned many things over the journey.  Mentor teaches me to me compassionate, introduces me to meditation, APSRI team coaches - Trader Investor Point let me post in their FB wall, Ajahn Brahm teaches us to be kind.  Yes, helping others enrich our lives.

I successfully became a regular instructor in Chi Fitness, and also successfully choreographed belly dance songs, and teaching them. I am also building my syllabus.

And… by looking at my past belly dancing videos, *glad that I grab opportunity to video* by looking into my past performances, I have travelled a distance. I see the improvement in myself and I am glad I did.

Attended numerous workshops, learned from Hadia, Serkan Tutar, Wael Mansour, Percy Yeoh, Mercedes Nieto, Sandra, etc… I am thankful for all the workshops I attended, although I may not be the one who can remember the steps (yeah… I am not good in that) I would say learning from Sandra and Mercedes Nieto helps a lot! They are detail, systematic and they know how to teach the feminine sensuality in dance, how to perform and how to practice.

And… having been blogging since 2007 (yeah, 5 years has past); I written my first mandarin article and published in a bi-monthly issue Capital Asia by Business Media International.

Along the way there are challenges… Software, Dance, Coaching, Forum writing, blogging, financial column, trading, investing, it is tough to balance my time in between, thanks to my family who has been supportive, thanks to my friends who had trusted me, thanks to my colleague who has been keeping my secrets, thanks to my superior RN and my understanding lady boss BL.

I love 2011.

And I am going to excel higher, and make 2012 another meaningful year.

Bless all
Ayumi

China set to be top economy by 2030

I was reading some news and today’s headline…
China set to be top economy by 2030…
The World Bank said China will maintain a GDP growth rate of about 8 percent in the coming 20 years.
Link: http://usa.chinadaily.com.cn/business/2011-03/24/content_12220043.htm
In 2030, income per capita will be two fold, to reach USD16,000.

Which is equivalent to RM48,000
*based on USD: MYR = 1:3.
I was curious, what is Malaysia’s income per capita?

I Google and found the following:
Malaysian’s PPP is ranked 57-58 which is almost USD14,500.
Singaporean’s PPP is ranked 3-4 which is almost USD57,500.

Link: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

Disclaimer: This blog cannot guarantee the accuracy of external data~ the blog shall not entice any investment decision, trade responsibly.

MF Global file for bankruptcy on Monday 31-Oct-2011

OCTOBER 31, 2011, 6:57 PMLEGAL/REGULATORY
Regulators Investigating MF Global for Missing Money
BY BEN PROTESS, MICHAEL J. DE LA MERCED AND SUSANNE CRAIG
9:55 p.m. | Updated
Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an investigation into the brokerage firm, which is run by Jon S. Corzine, the former New Jersey governor, several people briefed on the matter said on Monday.

CL on 8-Sep-2011

Wohoooo.... CL after touching 83.20 channel bottom, did a little congestion and bounced up above 90.00 region, last night it went up to highest 90.48.

It is a very bullish week for CL and let's look at Weekly Chart...

Crude oil climbed the most in four weeks in New York as a weather system threatened to reduce U.S. production from the Gulf of Mexico.

Last week Manufacturing PMI for the month of August-2011 is above market forecast (forecast 48.7, actual 50.6, prev 50.9), this week ISM Non-Manufacturing PMI also above market forecast (forecast 51.2, actual 53.3, prev 52.7).

Storm hits...
Probably curbed stockpiles... Supply decline.

2nd-ly, Oil rose on speculation on the next plan to boost the economy... will President Barack Obama announce plans for more than $300 billion in measures to boost the economy?


Check from 4 Hour chart, Oil has been rising for the week...

From 1 Hour Chart...

Past few days of rally on CL almost hit 4L based on my trading method without any sign of retracement except this morning.

I suspect a 1/3 retracement to happen today, CL to drop to 88.20 - 88.80 levels, before making a marginal top above 92.00 region, target 92.40, this price range is also the channel top (green zone in the above charts).

Trade plan is to Long after the retracement complete around 88.20-88.50, target exit 92.40.

Will post my trade if any were done.

Manufacturing at a Glance: http://www.ism.ws/ISMReport/MfgROB.cfm?navItemNumber=12942

Philly Fed Aug 11 Manufacturing Index

Unemployment Claims:
Jobless claims topped forecast, climbed by 9,000 to 408,000 in the week ended Aug. 13, the highest in a month.
Unemployment at 9.1 percent.

Source: Bloomberg http://www.bloomberg.com/news/2011-08-18/first-time-unemployment-claims-in-u-s-rise-more-than-estimated-to-408-000.html

August 2011 Business Outlook Survey, Philly Fed Manufacturing Index
Responses to the Business Outlook Survey this month suggest that regional manufacturing activity has dipped significantly. The survey’s broad indicators for activity, shipments, and new orders all declined sharply from last month. Firms indicated that employment and average work hours are lower this month. Price indexes continued to show a trend of moderating price pressures. The broadest indicator of future activity also weakened markedly, but firms still expect overall growth in shipments, new orders, and employment over the next six months. The collection period for this month’s survey ran from August 8-16, overlapping a week of unusually high volatility in both domestic and international financial markets.

Source: Federal Reserve Bank of Philadelphia http://www.phil.frb.org/research-and-data/regional-economy/business-outlook-survey/2011/bos0811.cfm

Economic Data is bad.
Stocks tumbled.

The Dow fell 419.63 points, or 3.7 percent, to 10,990.58. Treasuries rallied, pushing 10-year yields to a record low.

Morgan Stanley cut its forecast for global growth

The U.S. and Europe are “dangerously close to recession,” Morgan Stanley analysts including Chetan Ahya said in the note. “Recent policy errors, especially Europe’s slow and insufficient response to the sovereign crisis and the drama around lifting the U.S. debt ceiling, have weighed down on financial markets and eroded business and consumer confidence.”

Related: http://www.bloomberg.com/news/2011-08-18/u-s-stock-index-futures-slide-jpmorgan-morgan-stanley-netapp-decline.html

EUR/USD

I have shorted on Wednesday at 1.4420 but my trade were out when market create a marginal top to 1.4515.

I almost thought that my forecast would run far this week until I read the forum and found something interesting from R.

The marginal top has actually qualified our setup for a trapezium.  BKO level at 1.4400.

I got in a little bit on EUR/USD yesterday during the antenna top, but I exit at a preset 1:1 risk reward ratio of 40 pips.

Last night, EUR/USD found a short term support at 1.4270 and formed a pincer bottom.  After last night dip of  180 pips, estimate EUR/USD to pull back to 1.4350 - 400 before breaking lower and hit initial target 1.4180.

Today's trade plan:
Short at 1.4353, SL 1.4400, TG 1.4180

GBP/USD

Daily Chart:
Finally the bull shows exhaustion, 1st bearish candle seen at GBP/USD after 5 days of white candle, GBP/USD formed a new high this month 1.6589.

The new peak has invalidate my forecast, and confirmed an inverted head and shoulder.
from the day chart outlook, GBP/USD is currently moving strong, and the strength may last until 1.6700.

4 Hour Chart:
GBP/USD has corrected 1/3 last night when it found support at 1.6420.

It is likely GBP/USD test the strong support 1.6370-350 today before moving higher.
If GBP/USD retreat to 1.6350 and formed a reversal pattern in intraday chart, I am going in for a long trade.

Today's  forecast, market continue to resist below 1.6530 and going to test strong support 1.6350 (I think I am going crazy with the figures?) hahahaa, checked and no typo here.

Today's trade plan:
Short GBP/USD 1.6490 SL 1.6530 TG 1.6370 (entered)
Long GBP/USD 1.6350 SL 1.6300 TG 1.6470 (need to observe market reversal)

Crude oil futures - Weekly review: August 1 - 5

Source: http://www.poten.com/NewsDetails.aspx?id=11501256

Aug, 07, 2011 08:14 AM - Benzinga Lightning Feed

Last week saw crude oil futures fall sharply, tumbling to a nine-month low on Friday before pulling back, as concerns over the U.S. economic recovery and lingering fears over sovereign debt contagion in the euro zone prompted investors to shun riskier assets.

On the New York Mercantile Exchange, light sweet crude futures (NYMEX, CL) for delivery in September traded at USD87.08 a barrel by close of trade on Friday, plunging 9.5% over the week, its second consecutive weekly decline and the biggest drop since early May.

It earlier fell to USD83.03 a barrel, the lowest price since November 26, 2010.

Crude prices bounced off the nine-month low on Friday after the U.S. Department of Labor said that nonfarm payrolls rose by 117,000 in July, above expectations for an increase of 95,000, while the previous month’s figure was revised up to a gain of 46,000 from a previously reported 18,000.

The unemployment rate dipped unexpectedly to 9.1% from 9.2%, the first decline in four months.

However, the better-than-expected jobs data failed to ease fears that the U.S. economic recovery was stalling, after a flurry of weak data earlier in the week fuelled concerns over a possible double-dip recession, underlining concerns over the short-term demand outlook from the world’s largest oil consumer.

The U.S. Energy Information Administration (EIA) said in its weekly report on Wednesday that U.S. crude supplies increased by 1.0 million barrels last week, rising for the second consecutive week.

Total motor gasoline inventories rose by 1.7 million barrels, significantly higher than expectations for a 0.5 million barrel increase and the biggest gain since early April.

Global financial service provider Credit Agricole lowered its one-month price forecast for crude to USD85 a barrel, citing the uncertain economic outlook, it said in a report on Friday.

Elsewhere, on the ICE Futures Exchange, Brent oil futures (ICE, BRN) for September delivery traded at USD109.49 a barrel by close of trade on Friday, tumbling 6.3% on the week and up USD22.41 on its U.S. counterpart.

After markets closed Friday, ratings agency Standard and Poor's downgraded the U.S. sovereign debt rating by one notch to AA+ from AAA, and kept the rating outlook at negative, suggesting a further downgrade could be possible within the next 12 to 18 months.

S&P said the debt ceiling deal reached by lawmakers to cut the federal deficit by an estimated USD2.1 trillion over a decade did not go far enough and “America’s governance and policymaking is becoming less stable, less effective, and less predictable than what we previously believed.”

In the week ahead, markets will get their first chance to react to the historic U.S. debt downgrade. Traders will also be paying close attention to Tuesday’s Federal Reserve rate announcement and its statement on monetary policy for any hints regarding further easing.

http://money.cnn.com/2011/08/04/markets/markets_newyork/index.htm?hpt=hp_t1

Source: CNN Money

NEW YORK (CNNMoney) -- Stocks plunged Thursday in their single worst day since the 2008 financial crisis.
The Dow tumbled 512 points -- its ninth deepest point drop ever -- as fear about the global economy spooked investors.

The market's fear gauge -- the VIX -- surged 35.8% to a reading of 31.8. A level above 30 signals a high degree of fear.
At the closing bell, the Dow Jones industrial average (INDU) was down 512 points, or 4.3%, with Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune 500) and Bank of America (BAC, Fortune 500) among the biggest drags on the blue chip index. Thursday's sell-off marked the steepest point loss since October 2008.
The S&P 500 (SPX) was down a staggering 60 points, or 4.8%.
The Nasdaq (COMP) lost 136 points, or 5.1%. Some of the better performing tech stocks, Apple (AAPL, Fortune 500), Google (GOOG, Fortune 500) and Netflix (NFLX) were all down between 2% and 3%.
Fears about a global slowdown are at the forefront of investors' minds amid recent weak economic data. Early Thursday, the latest reading on jobless claims showed a large number of Americans remain unemployed.

Today economic data front, we observe:

GBP 15:00 Jul Halifax HPI (House Price Index) m/m, exp: 0.1%
GBP 16:30 Jul PPI (Producer Price Index) Input m/m, exp 0.6%


US 20:30: Jul Change in Nonfarm Payrolls, exp.: 85K
US 20:30: Jul Change in Private Payrolls, exp.: 115K
US 20:30: Jul Change in Manufact. Payrolls, exp.: 10K
US 20:30: Jul Unemployment Rate, exp.: 9.2%
US 20:30: Jul Avg Hourly Earning MoM All Emp, exp.: 0.2%
US 20:30: Jul Avg Weekly Hours All Employees, exp.: 34.3
US 20:30: Jul Chg in Household Survey Emply
US 03:00: Jun Consumer Credit, exp.: $5.000B

Quick Update on FX

US Dollar was mixed against most of its major counterparts on Tuesday. On the US economic data front, personal spending fell 0.2% in June (+0.1% expected) while personal income rose 0.1% (+0.2% expecting) according to the US Commerce Department. Also, the Senate has approved a deal to raise the debt ceiling by a 74-26 margin.

Source: IG Markets

GBP/USD

Yesterday, highest GBP/USD has gone up 1.6327, and market is consolidating in a narrow range.
My short is not filled.

Last night there's a butterfly pattern that signifies at possible lift, but the strength didn't last. Upon completion of butterfly, I entered a short on GBP/USD at 1.6300.

Obviously, GBP/USD has shifted to a lower gear with the price action below EMA50 in 4 Hour Chart.

Few scenarios:
(1) go up 1.6350-380 to form right shoulder
(2) resisted at EMA50 and continue trade down

Based on the above scenarios,
Again, I will queue to short at 1.6380 and 1.6440 for position trade.
and Holding on to my opened position short at 1.6300 and target 1.6200 support line.

Great Thought for the Day:

Up to you

You will never solve your problems by getting other people to change. The way to move beyond whatever is holding you back is to make positive changes within yourself.

The problem is not the particular situation you are in. The problem is the way you interpret and relate to that situation.

The problem is not the way you are treated by others. The problem is the way you allow the actions of others to affect you.

The problem is not what has happened in the past. The problem is that you’re letting it continue to hold you back.

Take complete responsibility for a problem, and suddenly you are ninety percent of the distance toward solving it. For when you truly take responsibility, you gain real and powerful control.

Fully accept that it is up to you to get where you choose to go. And you’ll find everything necessary to make it so.

by Ralph Marston

Read more: http://greatday.com/motivate/070626.html#ixzz1Tv5cpPVo

US Debt Vote

US Debt Vote delayed, VIX jumps to 23% (highest since June 2011).
Market continues to slide. The Dow has slid for 5th straight days.

Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow has fallen five straight days because of worries that the U.S. might default on its debt if Congress doesn't raise the country's borrowing limit. It's down more than 484 points, or 3.8 percent. Just five days remain until the Treasury Department says the government won't have enough money to cover all of its bills. Even if the U.S. doesn't default, investors worry that the country might lose its triple-A credit rating. That could raise interest rates and possibly slow the U.S. economy, which is still recovering from the worst recession in decades.

Read more at: ProfitNDTV.com

EUR/USD

Forecast EUR/USD to bounce off from this low 1.4252.
If can break above current resistance 1.4350, then will go higher 1.4450, 1.4550.

Related post: http://ayumi216.blogspot.com/2011/07/weekly-forecast-fx_26.html

GBP/USD

fulfilled fibo retracement entry, but my order just got expired again. >.<
Will queue to short again today at 1.6370 region - 1.6400, SL 1.6437.

Weekly Forecast (FX)

Important Fundamentals that will affect the global market:
Raising the debt ceiling, or downgrade?
Or, austerity measures, cutting budgets, increase tax?

If cutting budgets, and increase tax, then Gold might need to face the imminent, or "reckless" fall.

提高债限，抑或面对违约危机？下调信贷评级？
如果最终的美国预算协议包括大幅削减开支和增税,或两者皆有,则黄金价格可能骤然下挫.

GBP/USD

Resistance 1.6440, forecast the market to continue going up towards this resistance, , unless market break above 1.6468, I will be hunting for short.

Once 1.6468 has been taken out, expect GBP/USD to go further up to 1.6550 (May-31 high).

EUR/USD

It has broken away from the trendline, and I am bullish on EUR/USD.
Although fundamentally I do not agree with the bullishness in EUR/USD, especially on the recent debt issues... but I have to say from the technical chart, the bullish strength will last until next target 1.4550, ultimate target 1.4900.

Market Update Thu 23-June-2011

US Dollar rose against most of its major counterparts on Wednesday. US Dollar index is showing a possible reversal on Weekly and Daily Chart, on the US economic front, house price index rose 0.8% (-0.3% expected) in April.

Gold

Gold rose above 1550 yesterday afternoon and my short position is activated.
However, upon FOMC press conference at night, Gold rose above 1557 and taken out my stop loss before it continues to drop below.

The FOMC kept interest rates at 0.25% as expected for an extended period and Fed Chairman Ben Bernanke added that "extended period" means at least two or three meetings.

EUR/USD

the Greek government has won a confidence vote for extra austerity measures that should allow it to receive further aid from IMF lifted the market.

EUR/USD were mixed yesterday, formed a doji candlestick pattern and GBP/USD already showing a BIG fall.
I am bearish on EUR/USD when it touches 1.4441 high last night, my short position were not entered because I have been queueing at 1.4470...

I forecast EUR/USD to continue trading in channel with bearish bias today until this evening.
US Unemployment Claims, tonight 8:30pm, could be another economic data that I am looking forward.

It is a good time to pick short today at 50% of yesterday Hi-Lo near 1.4370.

GBP/USD

The British Pound dropped against its major counterparts. Minutes of the Bank of England’s policy meeting earlier this month confirmed a 7-2 vote in favour of leaving rates unchanged.

I m upset because I was too concentrate on EUR/USD last night and missed GBP/USD totally... and it has corrected to 1.6050 level as forecast, touching its 200 days EMA...

Stay out, or watch for possible pull back to 1.6070 to sell, ultimate target 1.5850.

Quick Update on FX

EUR/USD

Posted the 4th bullish candle on Day Chart, EUR was trading at 1.4406 against the USD, like what I forecasted on Sunday, EUR/USD is doing a temporary rebound.

Related: Weekly Forecast 2011-06-20

Resistance capped at 1.4370.

Today I still trade long: 1.4370, SL 1.4343 (-30 pips), TG 1.4470 (+97 pips)
* Extra spread of 3 pips for guaranteed SL.

GBP/USD

Like forecast, the rebound has taken place, 3 bullish candle formed, with long legs at bottom.

Resistance 1.6320.

Today I am trading long on GBP/USD: 1.6177, SL 1.6150 (- 30 pips), TG 1.6316 (+136 pips)
Extra spread of 3 pips for guaranteed SL.

News:
Today (Wednesday) on GBP - 4:30pm MPC Meeting Minutes,
and midnight after 12:30am (Thursday):
Thursday 12:30am US FOMC, Fed Fund Rate ***
Thursday 2:15am US FOMC Press Conference ***

DJIA rebound

like what we mentioned last Sunday for this week's DJIA forecast.
Market were oversold and the good news has lifted the market.
last night DJIA rebounded above 12000 level and closed at 12076 (+123.14 pts, 1.03%).
Next Resistance 12300.

Last night,
8:30pm PPI rose 0.2%, above market forecast / consensus 0.1%, down from previous 0.8%.
** PPI = Producer Price Index; Also called as Whole Sale Prices
Change in the price of finished goods and services sold by producers.

8:30pm Retail Sales slumped -0.2%, above market forecast of -0.3%,
** Retail Sales = Change in the total value of sales at the retail level;

Major economic data release
Wednesday 9:00pm TIC Long Term Purchase
Thursday 8:30pm Building Permit & Unemployment Claims
Thursday 10pm Philly Fed Manufacturing Index
Friday 9:55am Prelim UoM Consumer Sentiment

Read:
PPI - Bloomberg
Retail Sale - Bloomberg

Related:
DJIA and Nasdaq 100 on 13-June-2011