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Cable Update (GBPUSD)

  • #11,281
  • Apr 26, 2007 4:49am Apr 26, 2007 4:49am
What's with the sudden sell-off?
  • #11,282
  • Apr 26, 2007 4:52am Apr 26, 2007 4:52am
Quoting southernmind
What's with the sudden sell-off?
Stop hunting.
Tra-X
  • #11,283
  • Apr 26, 2007 4:55am Apr 26, 2007 4:55am
I got this dip

Well, now checking M5. Bounce off Mid BB can trigger fresh selloffs.... Crossing back ends it or postpone it.
  • #11,284
  • Apr 26, 2007 4:56am Apr 26, 2007 4:56am
back to 2.0000

hope it dips again to at least 9940
  • #11,285
  • Apr 26, 2007 4:57am Apr 26, 2007 4:57am
Quoting southernmind
What's with the sudden sell-off?
My news service says its because:

'IG Metall may commence strike actions soon; First round of strikes would be aimed at Daimlerchrysler - Unions'

Also profit taking from Eur/Jpy's 9 year high.
  • #11,286
  • Apr 26, 2007 4:57am Apr 26, 2007 4:57am
Quoting Traex
Stop hunting.
With that big moves.. sure did catch a lot of stops..
  • #11,287
  • Apr 26, 2007 5:01am Apr 26, 2007 5:01am
Quoting cesarnc
I got this dip

Well, now checking M5. Bounce off Mid BB can trigger fresh selloffs.... Crossing back ends it or postpone it.
Just happened.... breach of 9950 and new highs are posteponed for a goooooddd while....
  • #11,288
  • Apr 26, 2007 5:02am Apr 26, 2007 5:02am
Currenty 1.9960s.

If 1.9950 is broken, Bear is in the house.
  • #11,289
  • Apr 26, 2007 5:05am Apr 26, 2007 5:05am
Quoting forex_newbie
My news service says its because:

'IG Metall may commence strike actions soon; First round of strikes would be aimed at Daimlerchrysler - Unions'

Also profit taking from Eur/Jpy's 9 year high.
Players are scratching heads and looking for news items which do not appear to be in place for a wave of [USD] buying.

We heard plenty of NZ rumours (a US investment house started the selling and the rumour!) and saw broad Jpy stop tripping. The Yen slide coincided with relatively large Yuan losses also.

Asian contacts note Usd/Cny has had its best one-day gain since Aug. Of course, inevitably players are talking of Eur/Usd and Gbp/Usd's failure to go on and make new ground.

Certainly, these headlines struggled to take out next key levels at 1.3670 and 2.0064/70 (which we previously discussed) and could have been vulnerable to the Usd squeeze. We will refrain from turning overly Usd bullish for now below 81.70/75 area in the Usd Index (200 hour moving average).
  • #11,290
  • Apr 26, 2007 5:09am Apr 26, 2007 5:09am
Quoting BurgerKing
Currenty 1.9960s.

If 1.9950 is broken, Bear is in the house.
78% fib (9902-0131) + 1hr 250 EMA + vicinities of 9971 S3. An expected TOUGH, TOUGH nut to crack....

Matches with expected super support 1.3600 EURO.

If crack easily, but your bulls in a hospital for a week.
  • #11,291
  • Apr 26, 2007 5:13am Apr 26, 2007 5:13am
Quoting cesarnc
Players are scratching heads and looking for news items which do not appear to be in place for a wave of [USD] buying.

We heard plenty of NZ rumours (a US investment house started the selling and the rumour!) and saw broad Jpy stop tripping. The Yen slide coincided with relatively large Yuan losses also.

Asian contacts note Usd/Cny has had its best one-day gain since Aug. Of course, inevitably players are talking of Eur/Usd and Gbp/Usd's failure to go on and make new ground.

Certainly, these headlines struggled to take out next key levels at 1.3670 and 2.0064/70 (which we previously discussed) and could have been vulnerable to the Usd squeeze. We will refrain from turning overly Usd bullish for now below 81.70/75 area in the Usd Index (200 hour moving average).
Well, I read one recommendation of banks to sell Euro today as double top may already happen. I shorted cable earlier and got a nice profit. Now, am on a side line until new york .. I guess. Watching to go for long .. but the second wave of selling could come again .. maybe http://www.forexfactory.com/images/icons/icon6.gif
  • #11,292
  • Apr 26, 2007 5:16am Apr 26, 2007 5:16am
Below 9950 stops hunting is next. Aiming for 9800 fast if successful.
Tra-X
  • #11,293
  • Apr 26, 2007 5:20am Apr 26, 2007 5:20am
Quoting BurgerKing
My broker's high for the day is 2.0059; my Sell Limit @ 2.0060 wasnt triggered. Just great!
Got to within 3 pips then reversed. C'est la vie.
Do not focus on making money; focus on protecting what you have.
  • #11,294
  • Apr 26, 2007 5:24am Apr 26, 2007 5:24am
Some of the sudden turn for the [KIWI], and subsequent Usd demands elsewhere, could be down to a WSJ article regarding IMF monitoring of carry trades. According to the WSJ, the IMF is concerned that some developing markets are not well placed to handle sudden outflows, should investors rush out of carry trades. This it feels requires closer monitoring and the IMF may raise the issue in talks with the BOJ and RBNZ. Recently the IMF mentioned Vietnam, Brazil, Hungary, South Africa and Turkey as nations luring Yen carry trades. Note players may already be seeing value in the current limited dips with an [ACB] bid appearing at 0.7390 Nzd/Usd, Middle East buyers taking Eur/Usd off the 1.3599 low.
  • #11,295
  • Apr 26, 2007 5:26am Apr 26, 2007 5:26am
Quoting cesarnc
Some of the sudden turn for the [KIWI], and subsequent Usd demands elsewhere, could be down to a WSJ article regarding IMF monitoring of carry trades. According to the WSJ, the IMF is concerned that some developing markets are not well placed to handle sudden outflows, should investors rush out of carry trades. This it feels requires closer monitoring and the IMF may raise the issue in talks with the BOJ and RBNZ. Recently the IMF mentioned Vietnam, Brazil, Hungary, South Africa and Turkey as nations luring Yen carry trades. Note players may already be seeing value in the current limited dips with an [ACB] bid appearing at 0.7390 Nzd/Usd, Middle East buyers taking Eur/Usd off the 1.3599 low.
Mr. Dollar is taking a breather... But still too far from the ICU's door
  • #11,296
  • Apr 26, 2007 5:39am Apr 26, 2007 5:39am
Quoting cesarnc
I got this dip

Well, now checking M5. Bounce off Mid BB can trigger fresh selloffs.... Crossing back ends it or postpone it.
What BB period do you use, cesarnc? Thanks.
Tra-X
  • #11,297
  • Apr 26, 2007 5:45am Apr 26, 2007 5:45am
Quoting Traex
What BB period do you use, cesarnc? Thanks.
20,2,0
  • #11,298
  • Apr 26, 2007 5:47am Apr 26, 2007 5:47am
I would be surprised if 9950 was not tested today
  • #11,299
  • Apr 26, 2007 5:59am Apr 26, 2007 5:59am
Quoting el_duende
I would be surprised if 9950 was not tested today
As the move was gossip & panic-driven, I would not be surprise if cable gets back to 2.0 soon
  • #11,300
  • Apr 26, 2007 6:02am Apr 26, 2007 6:02am
Quoting cesarnc
As the move was gossip & panic-driven, I would not be surprise if cable gets back to 2.0 soon
From elsewhere.
Quoting Why Oh Why
The 30-min RSI is oversold & the 1.9955 strong support area (50% retracement, horizontal support) should favour a recovery.

http://www.tradingcentral.com/chart/...0426121331.GIF

Do not focus on making money; focus on protecting what you have.
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