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  • Strongest UK construction output growth since June 2010

    From markiteconomics.com

    UK construction companies indicated that the rebound in output levels indicated during the second quarter of 2013 was maintained into July. Moreover, the latest survey signalled that growth of both business activity and incoming new business accelerated sharply since the previous month. This in turn resulted in a solid increase in construction employment levels and the strongest degree of positive sentiment about future output since May 2010. At 57.0 in July, up sharply from 51.0 in June, the seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) pointed to a robust and accelerated ... (full story)

WOW ! That a solid number
Long GU
buy gbp?
Already have it bought at 1.5115 ;-)
Quoting newk
buy gbp?
Are you asking for it, when fundamentals pretty solid and technicals signals to long too.

When both tech and fund. are in one side its a strong signal usually
Final target 6100
First target 5650
Second 5800
  •  Guest
  • | IP XX.XXX.241.194
This is just a temporary spike up, the trend will reverse back down. If you long take your profits now, or you can say them good bye by the end of a day.
for fundamental trades, anyone have a good idea how many pips stop loss, it always hit my stop loss then go the way its meant to.
sell gbp now. there was gap up
For fundamental - you usually should build over the trend with small orders in the same directions - if you are at long stance - you should buy every conceivable dip.
selllll???
Quoting Guest
This is just a temporary spike up, the trend will reverse back down. If you long take your profits now, or you can say them good bye by the end of a day.
Institutional traders take profit?
  •  Guest
  • | IP XX.XX.199.123
Quoting Trader88q
Final target 6100
First target 5650
Second 5800
Its construction PMI not Service PMI Uk large contribution is with Services PMI Even hitting 57.0 Construction PMI cable pop only 40 pips and offers are dragging it down now. It seems like current level is good for short it . well best of luck
Quoting michaelpelly
For fundamental - you usually should build over the trend with small orders in the same directions - if you are at long stance - you should buy every conceivable dip.
but they are always big spikes, it always kicks out my stop loss,lost 15pips kicked me out and went back up.do you think its going back down now?
yeah newk. last i bought first and then sell. in the fact now gbp down. correct? after that go up
  •  Guest
  • | IP X.XX.44.101
Quoting newk
but they are always big spikes, it always kicks out my stop loss,lost 15pips kicked me out and went back up.do you think its going back down now?
It's simple. Don't use stop loss. Use mental stop loss
Ye ye ye ! Bla bla bla for those who is trying to sell !!!
One more time around.

1. Technically

Technically trend 4815-5435 is not over. 5029-5435 wave got its correction line and ended at 5100. That are is the beginning of continuation of 4815-5435 trend.

2. Fundamentally

Fundamentally UK showed pretty solid numbers today and this week.
U.S FED continue QE in near future


Say your strong comments on that cause all i read is casino type of comments.
Quoting Trader88q
Final target 6100
First target 5650
Second 5800
Short term target 1.52 the tomorrows high 1.5243
Quoting skyboys007
Short term target 1.52 the tomorrows high 1.5243
its a long term targets. Technically:

short term 5400
mid term 5650
long term 5800
Ok sell sell
  •  Guest
  • | IP XX.XXX.224.160
I don't understand. why it reverse down. Data was damn good. Gbp should go up. Am I wrong?
Quoting Guest
I don't understand. why it reverse down. Data was damn good. Gbp should go up. Am I wrong?
waiting for f. U.S numbers.
but no matter what it will be sterling will skyrocket in near 12 hours.
you are not wrong. after the news out. there was gap up on gbpusd. usually after gap up, must be down
this fundamental breaking news came in the favor of shorten EUR/GBP, and match the price action after a hanging man pin bar on the daily chart, however do NOT manipulate with USD as we getting too close of NFP with optimize ADP expectations
Quoting Trader88q
waiting for f. U.S numbers.
but no matter what it will be sterling will skyrocket in near 12 hours.
The market is very confusing at the moment, dont know exactly where is going..HELP!!!
Quoting newk
The market is very confusing at the moment, dont know exactly where is going..HELP!!!
listen. waves dont lie.
if 5029 level will be broken today then only then i can say the global trend is over and the new down trend appeared.

till 5029 we technically still in global uptrend of strerling.
dont be confused.
wave analysis, fibonachi levels, global trend dont lie usually.
Quoting Trader88q
listen. waves dont lie.
if 5029 level will be broken today then only then i can say the global trend is over and the new down trend appeared.

till 5029 we technically still in global uptrend of strerling.
dont be confused.

Thanks alot, will place buy order now
  •  Guest
  • | IP XX.XXX.145.105
Quoting Trader88q
wave analysis, fibonachi levels, global trend dont lie usually.
First of all I will like to say thank you for all your useful comment. Can I ask why it starts on up trend and later goes back down mid day? Very confusing!!
Quoting Trader88q
Ye ye ye ! Bla bla bla for those who is trying to sell !!!
One more time around.

1. Technically

Technically trend 4815-5435 is not over. 5029-5435 wave got its correction line and ended at 5100. That are is the beginning of continuation of 4815-5435 trend.

2. Fundamentally

Fundamentally UK showed pretty solid numbers today and this week.
U.S FED continue QE in near future


Say your strong comments on that cause all i read is casino type of comments.
lol....
I wouldn't leave your Stop Loss at 1.51 if I were you...
Come with me if you want to live....
Quoting Guest
I don't understand. why it reverse down. Data was damn good. Gbp should go up. Am I wrong?
Your not wrong mate we just hit resistance with NFP to come.
And did you notice the gap down achieved on the 15 min chart after US unemployment figured came out yesterday despite the good UK news?
Good news for sterling today but we have not played the other side of the coin yet.
I would not long sterling from here unless you have a large stop below 1.5.
Come with me if you want to live....
Quoting newk
Thanks alot, will place buy order now
Firstly, what time frame are you trading?
You had some good suggestion from michaelpelly but he trades very long time frame. You some other suggestions, valid too, from Trader88q.

Second, look at the charts! Look at them on at least 3 time scales, here is what you will see....
- daily, looks like it is going down...
- 4hr, sitting on support at 1.51.... could go up or down
- 1hr, sitting on minor support at 1.5150, also at 50MA currently (trend is down)
- 15m, just pumped-up on the PMI figures, hanging around 1.5150

So where do you think it will go next? Exactly! I don't have a clue either. Except the NFP figures are coming out in 2.5 hours and GU will definitely move up and down, no I don't know which will be first.

Personally, imho, the NFP is too close to place a trade - unless you are looking for a 10-pip scalp during the next half-hour.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Am on 15mins time frame and yes its very confusing, even to scalp is hard at the moment because it keeps going against me, trying to find right amount of pip sensible to place stop loss
Quoting Trader88q
WOW ! That a solid number
Long GU
lol yeh for scalp....but you try to sell at the end of the day its ina downtrend. who cares about one good data? its not enough to change the trend.
Anything can happen in FOREX. There's no 100% sure
  •  Guest
  • | IP XX.XX.182.160
to me it looks like only robots trading so far today, nobody committing themselves before NFP
Quoting newk
Am on 15mins time frame and yes its very confusing, even to scalp is hard at the moment because it keeps going against me, trying to find right amount of pip sensible to place stop loss
Stay away those scalps at this moment, price is dancing around daily and weekly pivots-> its impossible to say witch way it goes next!!
Best bet is to stay away from the market, till you are very sure where the market is going, cos rignt now it might continue going up or back down...
gbpusd has been succsesful down too close gap newk. look too trader 88 q
gbp not move up its mean here is some thing hiden in non form correction data so wait till non form direction
i think today non form payroll data give us some good pips gold already run where it go but e/u and g/u remain so tonight its exams
BP not moved much on such a good data,only waiting for NFP today,if NFP comes in green there is no doubt BP will be down and one thing more these USD data know a days shows improvement in the US economy that's means more chance of tapering in SEP.and new episode of drama after Greek,EU is going to start in coming future and china will play a leading roll just like Greek and EU,its smells like that
Quoting Raditya Yusu
you are not wrong. after the news out. there was gap up on gbpusd. usually after gap up, must be down
Good luck to you

May be a test of 1.5176 sterling is going down towards 1.4890 again may be lower but we will see some sort of recovery

Technically 1.5186 to 1.5327 and 1.5327 to 1.5434 and then 1.5284 was broken was first signal of top and then a break below 1.5186 was good enough to test the 1.4860 area

my Kindest regards and best of the long Pound bulls
Quoting Trader88q
Ye ye ye ! Bla bla bla for those who is trying to sell !!!
One more time around.

1. Technically

Technically trend 4815-5435 is not over. 5029-5435 wave got its correction line and ended at 5100. That are is the beginning of continuation of 4815-5435 trend.

2. Fundamentally

Fundamentally UK showed pretty solid numbers today and this week.
U.S FED continue QE in near future


Say your strong comments on that cause all i read is casino type of comments.
You are only guy around who is buying gbp long term target of GU is 1.4364 and may be lower
Good luck to you

May be a test of 1.5176 sterling is going down towards 1.4890 again may be lower but we will see some sort of recovery

Technically 1.5186 to 1.5327 and 1.5327 to 1.5434 and then 1.5284 was broken was first signal of top and then a break below 1.5186 was good enough to test the 1.4860 area

my Kindest regards and best of the long Pound bulls
sell buy sell buy . i recommend to all trader just trade on your own. coz u the one who bear the risk
Just Newbie Need Guidance From The Expert
Quoting Trader88q
Ye ye ye ! Bla bla bla for those who is trying to sell !!! One more time around. 1. Technically Technically trend 4815-5435 is not over. 5029-5435 wave got its correction line and ended at 5100. That are is the beginning of continuation of 4815-5435 trend. 2. Fundamentally Fundamentally UK showed pretty solid numbers today and this week. U.S FED continue QE in near future Say your strong comments on that cause all i read is casino type of comments.
Well, I think cable clearly shows that both attempts to punch the 1.48xx had failed. It is still pretty suppressed and have potent to go up. I wouldn't short it at these levels anyway. My position is long at 1.5115, S/L is 1.4780, T/P at 1.5550. If my guess is right it go to T/P in 2-3 weeks.
Quoting aman4forex
You are only guy around who is buying gbp long term target of GU is 1.4364 and may be lower
Good luck to you

May be a test of 1.5176 sterling is going down towards 1.4890 again may be lower but we will see some sort of recovery

Technically 1.5186 to 1.5327 and 1.5327 to 1.5434 and then 1.5284 was broken was first signal of top and then a break below 1.5186 was good enough to test the 1.4860 area

my Kindest regards and best of the long Pound bulls
Beware, a lot of retailers lost good money last 2 weeks at E/U using the same reason (trying to short it from 1.31xx and 1.32xx), a lot of S/L burned - just watch the lots ratio on the opened trades.

1.43xx is pretty hard target - it could come real only if real tapering is evident, but my guess is that the tapering event will come when cable is well above 1.56xx.
Right, if anyone is interested, I am short Cable.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
....oops, perhaps they will notice the unemployment rate in a minute.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Quoting Exodus
Right, if anyone is interested, I am short Cable.....
"Why, Mr. Anderson, why..." :-)

Two things I know from experience - do not short the cable under 1.54xx and MB S500 (2003) is not a sporty drive :-).
Quoting michaelpelly

"Why, Mr. Anderson, why..." Smile

Two things I know from experience - do not short the cable under 1.54xx and MB S500 (2003) is not a sporty drive Smile.
...bcoz I was expecting flat or upside NFP.
...and I've been looking at S320 cdi
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
You seems to know a bit 'bout it! ;-), S320CDI is the best choice a man can make. The only problem is I love V8 hammering and hate econo-rides :-) - that is why Honda's are made for - the everyday challenges ;-).
Quoting michaelpelly
You seems to know a bit 'bout it! ;-), S320CDI is the best choice a man can make. The only problem is I love V8 hammering and hate econo-rides :-) - that is why Honda's are made for - the everyday challenges ;-).
Mine has 2 wheels
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Wow - biker?! :-). I got XL650V Transalp - a time machine, never breaks, never complains! :-).
late 60's chevy big block. ladies.
V4 680bhp/ton ...until I get on it that is.
Honda reliability difficult to match.

here's a link, I have the 'manual' version.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Quoting Exodus
V4 680bhp/ton ...until I get on it that is. Honda reliability difficult to match. here's a link, I have the 'manual' version.
I know the VFR, pretty nice technological marvel - automatic dual-clutch, traction control, ABS - the whole nine yards. And the price is reasonable - I just can't ride this with my 193cm/110kg - too much weight to bend over the tank :-)
Quoting jaygee
late 60's chevy big block. ladies.
Cruel! :-)
Quoting jaygee
late 60's chevy big block. ladies.
Awesome!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Quoting Exodus
...bcoz I was expecting flat or upside NFP.
...and I've been looking at S320 cdi
Well said
Quoting michaelpelly
Beware, a lot of retailers lost good money last 2 weeks at E/U using the same reason (trying to short it from 1.31xx and 1.32xx), a lot of S/L burned - just watch the lots ratio on the opened trades.

1.43xx is pretty hard target - it could come real only if real tapering is evident, but my guess is that the tapering event will come when cable is well above 1.56xx.
So you means to say that only dollar consideration is necessary not sterling economy or UK monetary policy matters. You might be right as global currency currently is getting hit but not across the globe but only against euro and pound as most of the countries currently have seen dollar rallies like aussie loonie yen and INR they are facing a tremeondus rise in dollar in last two months

So we will have to wait for tapering to get a massive sell-offs by eu and uk banks but only time will tell but I see both of currencies will finally bow against the dominate dollar
thanks for your advice but I am not retail trade I hardly trade daily 1 or 2 enteries with high probability and I usually use large stops but Currently I am looking for pound to breach through 1.5100 level

regards
UK recovery remains vapour-ware, we await 'guidance' on Wednesday.
Euroland recession is very defined, however they have positive trade balance.

US recovery is not denied by anyone (surely...?) and raises other questions.
QE has been holding down USD as the QE money goes anywhere except the US of A. American politicos are lining up to say stupid things, but the current market fear seems to be that when the QE stops the dollar will strengthen and therefore any news or evidence that supports the ending of QE sooner will drive up the dollar.

There is a view that QE will never end, personally I doubt that but believe the process will morph into something else near the end, a kind of laundered QE which does the same thing but is not called QE. IMHO it is 5 years before QE is completely switched off.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
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  • Story Stats
  • Posted: Aug 2, 2013 4:31am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 60  /  Views: 10,130
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