Thanks — Thanks a lot Optimum. For last few days, I saw that downward move for Cable are generally driven by the NY Session. But, if they announce any detail on bailout plan at the last moment today, may be next week will be interesting?

... — Hi all, I am getting little confused about the US Bailout plan. If they approve it, shouldn't it be good for USD and drive Cable down strongly? I see many people also talking about long and cable going to 1.8X area which making me ...

I haven't got into yet. Today's news wasn't good either. May be next weeks open would give some guideline?! Are you people into any trade?

Nice Analysis Trader_KGB and bmvmx. I must say I didn't expect it to go berserk :-) Indeed anything can happen now and I am cooling in the sideline until it gets back into some kind of track. Please keep posting nice analysis and insights.

100% agree bmvmx. Waiting for that bottom :-) Where it might form you think? May be somewhere around 67? Don't know, these days market can go anywhere.

For now definitely short is the better side. I have been trading this pair on 'carry trade' basis. That's why long on this pair interests me most. Yeah sure that they dropped the interest rate by 0.5%. Still 7.5% against the 0.5% of JPY accumulates ...

Nice that you could close before the drop! Personally I am waiting until few hours to rethink my standpoint. My interest on this pair is on long side (though current condition contradicts of course). I would go long at some point. Question is - when ...

Rate cut more than expected — The have cut the rate by 0.5% which is more than what market expected. Already it has gone through a nearly 100 pips drop within 15 mins of the news release. The true extent of drop would be fully realized when ...

Interest rate — Interest rate is due in few hours. If they really reduce 0.50 than it can go lower I guess. Lets see.

Thanks for starting this thread — Thanks a lot for starting this thread. I hope to be regular here. Please post your insights and comments.