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Sunday, Jan 25, 2009

9:00PM Philippine time

Last week we saw a terrible loss of confidence in the Eurpoean banking sector which lead to a massive collapse of both the Euro and the Pound. It was triggered by 1.) UK Prime Minister Gordon Brown’s announcement of a 50 Billion GBP government infusion to insure UK’s toxic assets and 2.) The Royal Bank of Scotland (RBS) announced a full year’s loss, the largest corporate loss in UK history. In Euroland, on the other hand, there was an article in Dailyfx that there are flaring tensions and talks of a breakup (or breakdown) of the Euro. While I don’t think the ECB will be abandoned fairly easily, I do think that the Euro is as affected as GBP in terms of confidence loss and getting investors to rally behind them. At least, not for this week.

Now, trading the markets this week would be easier if there was some good news in the US, problem is there is none to speak of, especially this week. President Obama is now just beginning to tackle the many, many problems facing the US and is focused on the internal re-arranging of bailout priorities leaving the rest of the world to fend for themselves in the mean time. The Dow closed down around the 8,000 level and investors everywhere are rubbing their foreheads trying to figure out what to do now. Aspirin anyone?

As for me, I do still see some opportunities this week, So here’re the pairs that I’m cooking:

Monday – Jan 26, 2009

Get ready to Sell USD/JPY

The fundamental reason:

At 11PM Philippine Time, US Housing data and leading indicators are set to come out more bearish than ever.

Timing Window:

Get ready to Sell USD/JPY at these times should a Technical Set up or a Trading signal appear

Philippine Time: 12NN – 7PM (This is GMT+8)

(For non-Philippine residents, please download and use the easy time conversion table found on this link: http://timingyourtrade.com/component/content/article/38-getting-started/58-time-conversion-easy-reference-guide.html)

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Tuesday – Jan 27, 2009

Get ready to Sell NZD/USD

The fundamental reason:

At 5:45AM Philippine time, next day Wednesday the New Zealand Rate decision comes out which is expected to be a full 1 point cut from 5% to 4%.

Timing Window:

Get ready to sell NZD/USD at these times should a Technical Set up or a Trading signal appear

Philippine Time: 8PM to 12MN (This is GMT+8)

(For non-Philippine residents, please download and use the easy time conversion table found on this link: http://timingyourtrade.com/component/content/article/38-getting-started/58-time-conversion-easy-reference-guide.html)

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Wednesday – Jan 28, 2009

No viable opportunities for Wed.

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Thursday – Jan 29, 2009

No viable opportunities on Thursday

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Friday – Jan 30, 2009

Get ready to Sell CAD/JPY

The fundamental reason:

At 9:30PM Philippine Time, Canadian GDP comes out which is also expected to kick the pair lower

Timing Window:

Get ready to Sell CAD/JPY at these times should a Technical Set up or a Trading signal appear

Philippine Time: 12NN – 4PM (This is GMT+8)

(For non-Philippine residents, please download and use the easy time conversion table found on this link: http://timingyourtrade.com/component/content/article/38-getting-started/58-time-conversion-easy-reference-guide.html)

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Well that’s my forecasts and timing windows for this week, please only follow my advice at your own risk.

Should anything change I will update this post!

Monsterpips to All!

-Mark

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