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Cable Update (GBPUSD)

  • #715,241
  • Dec 19, 2022 11:35pm Dec 19, 2022 11:35pm
Quoting suhas316
Cable- for me bearish on Monday I will see how it reacts on 1.21500... my target is 1.18 {image}

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!! Radha Radha !!
  • #715,242
  • Dec 19, 2022 11:49pm Dec 19, 2022 11:49pm
GBP/USD Monthly Candle soon to become Red!
  • #715,243
  • Dec 19, 2022 11:49pm Dec 19, 2022 11:49pm
Quoting Headland
...any buyers in this potential supp zone? Looks vulnerable to a break below right now 4hr below {image}
And break it did....1hr below is what I am seeing in terms of potential supp/rbs down to 1899. The dot/dash green lines are Dly S1, S2 and S3 as you go down-obviously. Downside fibs of main swing lo's from and including 0327 all to 2445 swing hi moves are below as well. Nice little bounce there off the extreme o/s oscillator reads up to 5min.

1hr and fibs below
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Trader with an Edge.
  • #715,244
  • Dec 19, 2022 11:58pm Dec 19, 2022 11:58pm
...plenty of potential upside obstacles for any bullish recovery. 138pips moved today so far - 85.4% of the 162pip 30day adr.

1hr below
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Trader with an Edge.
  • #715,245
  • Dec 19, 2022 11:59pm Dec 19, 2022 11:59pm
So any idea why the BoJ keeping it's interest rate at -0.1% would have caused the Yen to rocket?
  • #715,246
  • Dec 20, 2022 12:02am Dec 20, 2022 12:02am
ty mister yen
more luck then brain i guess haha ,but i take it
show me the 100 $ daily withdrawal
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yes yes yes
  • #715,247
  • Dec 20, 2022 12:05am Dec 20, 2022 12:05am
Quoting MrFanciful
So any idea why the BoJ keeping it's interest rate at -0.1% would have caused the Yen to rocket?
I think it was more about the intervention in the bond market, ie buying, and the yield cap announcement.
------------------------------------------------------

...London forex desks beginning to open in a few minutes time.
Trader with an Edge.
  • #715,248
  • Dec 20, 2022 12:12am Dec 20, 2022 12:12am
Quoting Headland
{quote} I think it was more about the intervention in the bond market, ie buying, and the yield cap announcement. ------------------------------------------------------ ...London forex desks beginning to open in a few minutes time.
I presume that's all in the statements, rather than a specific data point release?
  • #715,249
  • Dec 20, 2022 12:14am Dec 20, 2022 12:14am
Quoting MrFanciful
{quote} I presume that's all in the statements, rather than a specific data point release?
I guess so yeh...the BOJ tend to intervene blind, ie no pre-announcement - they just do it and announce it as they are doing it. Also Kuroda being replaced in the spring - probably by a more hawkish guy, I read somewhere, according to reports.
Trader with an Edge.
  • #715,250
  • Dec 20, 2022 12:21am Dec 20, 2022 12:21am
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yes yes yes
  • #715,251
  • Dec 20, 2022 12:29am Dec 20, 2022 12:29am
...what will early London do - sell the pullback or continue buying the recovery attempt?
Trader with an Edge.
  • #715,252
  • Dec 20, 2022 12:35am Dec 20, 2022 12:35am
Quoting Headland
...what will early London do - sell the pullback or continue buying the recovery attempt?
I think - H1 - we are still in a range, albeit with strong downward pressure
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  • #715,253
  • Dec 20, 2022 12:39am Dec 20, 2022 12:39am
Quoting josi
{quote} I think - H1 - we are still in a range, albeit with strong downward pressure {image}
Certainly the 1st b/o of that range - to the downside - seems to be false, as most 1st b/o's are...the recovery has taken price just back into bottom of that 1hr range.

1hr below
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Trader with an Edge.
  • #715,254
  • Dec 20, 2022 12:47am Dec 20, 2022 12:47am
Morning all! Crazy moves overnight! Missed my long TP by 40 pips lol. Anyway was the GU drop in the last hour or so related to the BoJ announcement of keeping interest rates at -0.1?
Insane in the Brain..
  • #715,255
  • Dec 20, 2022 12:49am Dec 20, 2022 12:49am
long uj
  • #715,256
  • Dec 20, 2022 12:54am Dec 20, 2022 12:54am
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yes yes yes
  • #715,257
  • Dec 20, 2022 12:54am Dec 20, 2022 12:54am
Quoting TheWolf
*** BANKS STARTED BUYING YEN *** Welcome Recession!
Thank you for that observation. Indeed, recession is inevitable. The bond market has for 3 months now, priced in a potential recession for next year. Could be 6 months from now, could be 12 months from now, could be 18 months from now.

I personally don't want to outsmart that yield curve inversion, and say recession won't happen, or this time is different. It's there for a reason. I mean the way that yield on US 10-yr is now lower than the 2-yr, and that spread continued to deeper into negative territory. It stood at -68 bps this morning. The last time (post-1900s) it went that deep was only at -47 bps spread, in March 2000 (before that dot-com thing).

Dollar buying will intensify into the holiday season. No doubt. But, what's in store for us in the next year, could be dramatically very different from what we see now. Fed might be looking at pausing rate hike, sooner than expected, in 2023.
  • #715,258
  • Dec 20, 2022 12:56am Dec 20, 2022 12:56am
...could be a 1hr bullish engulf close in a few mins?
Trader with an Edge.
  • #715,259
  • Dec 20, 2022 1:01am Dec 20, 2022 1:01am
Thank you Kuroda!! As always, plesure to be working with you!

USD/JPY Long @ 132.701

As with GBP/USD, this is also long-term if situation allows of course!

Pair by pair, I am Buying USD at the best prices I can before things get real.
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  • #715,260
  • Dec 20, 2022 1:01am Dec 20, 2022 1:01am
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yes yes yes
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