Posted 10 hours ago: Quiet trade in FX after the Thursday storm and Friday confusion of the US jobs report. The paring of long USD and JPY positions gives way to modest gains in EUR and GBP but that is not encouraging gold or oil traders to lift bids beyond 1070 or 72.50. GBPUSD's deteriorating technicals may allow for a recovery of no more than $1.57 before traders retrenchy ahead key UK data & BoE inflation report. EURGBP vulnerable to 0.8700. - Feb 8 12:34

Posted 14 hours ago: The lack of key fundamental data has helped extend the pullback in the USD and JPY against major currencies, which remains no more than a corrective move w/in an impulsive rally in USD and JPY. Sterling is also among the underperformers of the day, dragged by expectations of renewed QE. Wednesdays BoE inflation report could show a GDP downgrade and reiterate the case for fresh asset purchases. Any rebound in GBP could see it capped at $1.5670. CADJPY is seen amid the few yen crosses likely to garner fresh gains ahead, eyeing resistance at 84.00, with USDCAD vulnerable to retesting 1.0550 CORRECTION (not 1.0650s) - Feb 8 08:06

Posted 3 days ago: NOT ONCE BUT TWICE did gold demonstrate a classic failure; Jan 11 (failure to break about the 38% retracement at 1168) and Feb 3 (failure to regain the 2-month trend line resistance at 1123), getting us near the 1040 target. Looking into next week, the key support now stands 1020. The possibility of $990 before month end stands at 50%. Any pullback in the USD in Asia Monday may lift boost gold to as high as 1075, but resistance wil need to hold at 1098, followed by 1123.

SEE ASHRAF AT THE THIS MONTHS TRADERS EXPO IN NYC (pictures from last year http://chart.ly/ 6wkr4m ) - Feb 5 15:05

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