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the togetherforex trades , analysis & commentarytuesday, july 16, 2002the 100,000 usd/jpy has been closed 6pips ahead. i’d hoped as regards a unchanging appreciation to 116.40+ but doubt this will happen prior to the term palsy-walsy. the dow not under any condition made it aloft its open (8,635.31) , and so we’ve seen a retracement of earlier dollar gains. eur/jpy has been shorted for 100,000 units from 117.10 , stop 117.55 . i’m expecting a return to 116.5 , perhaps former to the tokyo session. also the usd/chf limit order long 100,000 from 1.45 has been activated . this currently stands 1pip to the fore. bal: 101,748.47 ::: p&l: 1,724.51 + (-132.88) short chf 145,000 , eur 100,000 ::: long jpy 11,710,000 , usd 100,000 current trades : s eur/jpy from 117.10 , pull over 117.55 , tp 116.03 l usd/chf from 1.45 , stop 1.4480 , tp 1.4595posted by max at 16:01 i’ve entered a long appropriate for 100,000 usd/jpy from 115.89, stop 115.70. the pair had peeked above 116 a significance ago and may be staging a return to 116.40 or beyond. today’s productive news was to a certain extent good imo . greenspan’s testimony is here synop. : fed chairman alan greenspan says that absent support shocks, the u.s. economy is poised for sustainable extension, but depressing effects still linger. in addressing the falling dollar, he cautioned against overinterpreting its drop. he also said that corporate governance problems could hurt business efficiency, and more reports of corporate misdeeds may continue to surface. moreover, he reiterated the fact that price inflation has fallen to its lowest au courant with in four decades. fed estimates for us actual gdp are 3.56-3.57% in 2002, 3.5-4.0% in 2003. price index 1.5-1.75% in 2002, 1.5-1.75 % for 2003. jobless be entitled to 5.75-6.00% in 2002, 5.52-5.50% in 2003. june industrial production rose 0.8% (exp 0.4% prev revised to 0.4% from 0.2%). june capacity utilization 76.1% (exp 75.7% prev revised to 75.6% from 75.5%).posted by max at 13:14 last night’s trades worked well yielding $1,625.59 to yield the account balance up to $101,778.88. the only trade that had failed was a limit unorganized to short 100,000 eur/usd from 1.01 that stopped at 1.0110. the usd/jpy trades closed in the 115.70’s and at 115.55. the usd/chf trade took profit at 1.4504. the only uncrowded trade is a usd/chf short from 1.4531 for 50,000 that i’d placed ere long after noon (est) hoping to catch a retracement to 1.4500 from 1.4550. ** this trade was stopped while i’d been writing this , looks as though the dow is about to outstrip its open. usd is responding positively across the board. notice the account revision below. bal: 101,696.38 ::: p&l: 1,672.79 + (0) no open trades current trades : noneposted by max at 13:02 the usd/chf limit order compressed @ 1.4598 for 100,000 has fired. i’ve also added 100,000 usd/jpy laconic from 116.22 , cut out 116.6 , tp 115.55 .posted by max at 02:35 it appears that trading is more thin this evening. quotation formation among the majors is characterised by midget average range variations in clearing prices at most intervals punctuated by 15 to 20 pip spikes, occuring in either direction, that are quickly returned. the latter is indicative of low liquidity. the usd/chf has recently begun heading towards 1.46 be that as it may the dollar has been bit by bit declining most of the session. the usd/chf seems recumbent to erratic reversals and intermittently decouples from both dollar and euro movements. i’ve closed the 70,000 usd/chf short for a 24pip disadvantage an am going to view a limit purpose that to short usd/chf @ 1.46 for 100,000 units. this resolution be intended as a med
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