{"id":4115,"date":"2009-10-01T09:33:02","date_gmt":"2009-10-01T14:33:02","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4115"},"modified":"2009-10-01T09:33:02","modified_gmt":"2009-10-01T14:33:02","slug":"update-shanghai-eurusd-and-gold","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/10\/01\/update-shanghai-eurusd-and-gold\/","title":{"rendered":"Update: Shanghai, EUR\/USD and Gold"},"content":{"rendered":"

01 October, 2009 by Stephen Leahy<\/a><\/p>\n

Boston Oct 1 10:15 EST<\/p>\n

Shanghai Index: It seems to be following the same pattern as last time it dipped below the important 2,800 closing level. The last few days have been meandering with slightly higher closing levels. A clear break in either direction would be nice.<\/p>\n

EUR\/USD: we are not out of the position yet, and we keep our Stop level of a close below the 1.4590 level at the end of any given day (17:00 EST). Today has started out poorly, but we will see where the afternoon takes us. There are more and more analysts stating that they believe EUR\/USD’s move higher has run its course, but many of them turned bearish on the pair at the start of August with the NFP release. Those analysts missed the last 7 big figures on the way up. We have been long since the end of July (www.backbayfx.com\/blog.php) and remain in our “half” long position. Even if EUR\/USD is starting to reverse it’s long term trend, we think there is a good possibility that the NFP numbers tomorrow will allow for a final push higher in the pair to shake out the weak players who have already put on short positions.<\/p>\n

Gold: we missed the last move higher. We thought we would have a sharp breakdown in the last few days and that did not pan out. We remain committed to a long term (year plus) higher level in gold, but for our trading, we are on the sideline at the moment.<\/p>\n

Watch for tonight\/tomorrow’s “Think Like A Dealer” post.. We will get it posted before the NFP release.<\/p>\n

Stay Nimble!<\/p>\n

Stephen Leahy
\nBack Bay FX Services, LLC
\nwww.backbayfx.com<\/p>\n","protected":false},"excerpt":{"rendered":"

01 October, 2009 by Stephen Leahy Boston Oct 1 10:15 EST Shanghai Index: It seems to be following the same pattern as last time it dipped below the important 2,800 closing level. The last few days have been meandering with slightly higher closing levels. A clear break in either direction would be nice. EUR\/USD: we … <\/p>\n

Continue reading “Update: Shanghai, EUR\/USD and Gold”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4115","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=4115"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4115\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}