QE TIMELINE

• November 25, 2008: Press Release: $100 Billion GSE direct obligations, $500 billion in MBS
• December 16, 2008 FOMC Statement: Evaluating benefits of purchasing longer-term Treasury Securities
• January 28, 2009: FOMC Statement: FOMC Stands Ready to expand program.
• March 18, 2009: FOMC Statement: Expand MBS program to $1.25 trillion, buy up to $300 billion of longer-term Treasury securities
• March 31, 2010: QE1 purchases were completed at the end of Q1 2010.
• August 27, 2010: Fed Chairman Ben Bernanke hints at QE2: Analysis: Bernanke paves the way for QE2
• November 3, 2010: FOMC Statement: $600 Billion QE2 announced.
• June 30, 2011: QE2 purchases were completed at the end of Q2 2011.
• September 21, 2011: "Operation Twist" announced. "The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less."

• June 20, 2012: "Operation Twist" extended. "The Committee also decided to continue through the end of the year its program to extend the average maturity of its holdings of securities."
• August 31, 2012: Fed Chairman Ben Bernanke hints at QE3:








the above article has been  kindly  borrowed by the following site: Calculated risk Blog
(http://www.calculatedriskblog.com/2012/09/qe-timeline-update.html)

UDPDATE ON MY TWO OPEN TRADES

USDJPY:  I beleive that is making a bullish flag  which is indicating the continuation of the trend  . I remain with my s/l at 81.50 and expect my t/p to be hit  at the begining of this week.

AUDUSD:This pair has not behaved as i was expecting. Although it has taken out the 1.0480 resistance it hasnt gained momentum closing the week at 1.0484.I will raise my s/l at 1.0320 and be vigilant to rethink and maybe  close it if it doesnt climb above 1.05 on Monday close.

G14 OUTLOOK FOR THE WEEK 10 DEC - 15 DEC

The two most important events of last week was ECB 's president interview on Thursday and Payrolls announcement on Friday. This week the market expects the FOMC meeting which will be the main event of the week. We are close to mid of December now and flows are getting thinner. This may result to sharp moves with no real direction.

EURUSD:  The pair took a bitten after Mario's Draghi interview last Thursday in which he implied that ECB will cut rates next month.. Nonetheless the currency is still in a buy mode since it trades above 1.2865 and as it can be seen in my system below both wave and trend remain bullish. As long as this level hold(daily closing)  my view remains for  1.3480 until end of month or first days of January 

EURJPY:  This pair mirrored EURUSD move since USDJPY remained in consolidation around 82.30area. I remain extremely bullish and even though we may see  a small retreat  in prices around 105 area i believe that the pair is still going to reach 110!

EURAUD: Although we are a slightly bullish bias since 1.2290 level holds, the system shows that most indicator are still negative. Overall we can say that if only breaks the 1.2290 we may becoming more confident that the pair will fall further.However there is not a clear picture for this pair at the moment

EURCHF: The pair had a spike at the beginning of last week reaching close to 1.22. However it then falls again. Although, it gives some indication that it is getting out of the come is still a very tricky pair. Someone could play the long side with a s/l at 1.2020 and t/p 1.22

USDCHF:  As I have already mentioned this pair is the alter ego of EURUSD. As a result since EURUSD is rising this pair  is falling and the opposite

GBPUSD:  The pair managed to change to uptrend mode last week. Nonetheless i am not very convinced and i don’t believe that it has a lot of a potential  in the upside. Not very clear picture for this pair either

USDJPY:  The pair is still in an uptrend. However it has stalled last week and it seems that it has been trapped between 81.60-82.80. Indicators are bullish and it remains to see which way will break first. If 81.60 breaks then we may see a further fall to 80.80 before the pair resume its uptrend. If in the other hand it break 82.80 then the pair gains momentum and it will climb to 84.00 very  fast

AUDUSD:   This pair is also in a buy mode.  Although  it has a difficulty to break the 1.0510 resistance  still has the p[potential to clime to 1.07 as long as it doesn’t break 1.0320

G14 OUTLOOK FOR THE WEEK 03 DEC - 10 DEC

Last week we had a consolidation in most pairs since it was  closing of the month and market had many corporate flows. Nonetheless EUR has managed to rise against most crosses indicating a further rise

EURUSD:  The pair  is in a buy mode. It is struggling to break  1.30 . Nonethe less my system shows that next week it will rise further  . Still 1.35 is my target

EURJPY:   This pair continues to be in a strong uptrend getting favoured by the rise in euro and the weakening in the yen .The pair fall early week only to recoup its losses and rise further. 107 target has been reached and now it is eyeing the 110 level

EURAUD: The pair  changed trend last week and now is in a buy mode. However we may see a small retracement before it can climb further

EURCHF: The pair is in the dark bear zone. Strong down (again after a small break of a couple of months the indicators have turned red again)

USDCHF:  As I have already mentioned this pair is the alter ego of EURUSD. As a result since EURUSD is rising this pair  is falling . first target 92.10. If this level breaks we will see a sharp decline to 90.60 area

GBPUSD:  This pair is still in a downtrend but with not any momentum left at the moment.  Tried to break higher last week but it did not suceed . As a result i expect it to resume its downtrend this week with a target 1.5850

USDJPY:  The pair fall last week affected by some profit taking . It has tried twice to break  83 level but not succed. I expect to see a break of that level this week. If not then uptrend will mean that has been exausted for the time being and  we will have a sharp decline to 80.80
 
AUDUSD:   Although this pair has finally gave a buy signal at the  beginning of last week it hasnt managed to established a strong uptrend. It is still consolidating in 1.04 -1.05 area . In the beginning of the week we may see a furtehr decline to 1.0380 before  it resumes a strong uptrend to 1.07 

END OF NOVEMBER P/L REPORT [ 0 PIPS] - ONE NEW TRADE OPEN

 November was not a very exiting month. Yen was the star as market expect to be depreciated dramatically after the new government is elected at the beginning of the December.

I have opened a long AUDUSD trade and i have still open a long USDJPY  since October

Below is a graph of how i have done since the beginning of the year. I still have my strategic longs in EURCHF and USDJPY.

PIPS	FEB	MARCH	APRIL	MAY	JUNE	JULY	AUGUST	SEPTEMBER	OCTOBER	NOVEMBER
BIGGEST  MONTHLY DRAWBACK	-80	0	-122	-200	0	0	0	0	0	0
P/L	512	495	-122	-200	0	0	285	0	0	0
EQUITY	512	1007	885	685	685	685	970	970	970	970

UPDATE ON MY LONG USDJPY TRADE

The pair is very close to my target . I decided to raise my s/l at 81.50!I believe that it should reach its target this week.

UPDATE ON MY LONG AUDUSD TRADE

The pair didnt behave as i was expecting last week. Nonetheless i believe that it has still the potential to rise. This week RBA announce rates and i expect to leave them unchanged which may be the trigger for the pair to break above 1.06. I remain long  with my s/l at  1.0290 and t/p at 1.07