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Cable Update (GBPUSD)

  • #11,981
  • May 3, 2007 8:10pm May 3, 2007 8:10pm
The resilient trend line that has contained price to the downside, now broken, may be offering up a bit of resistance. That and the .38fib level (20074 - 19870) contained price to the upside. The .50fib of 19860 still supporting pound bulls. Let's see which level continues to hold.
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  • #11,982
  • May 3, 2007 8:16pm May 3, 2007 8:16pm
Quoting BurgerKing
Housing may be lousy, but I am getting reports that Restaurants are doing well in the hiring department.


Quick Q: Are you still GBPUSD Bullish? Lower Highs consistently. Im trying to short it but not at this level
Restaurants are always hiring... average employment turnover annually is close to 400% for many restaurants. Wouldn't put much faith in that...

GF
  • #11,983
  • May 3, 2007 9:08pm May 3, 2007 9:08pm
USD always hold value. Internally their market is upbeat. It will attract alot of foreign investment and this is the soft landing that the Feds are tanking on. `
  • #11,984
  • May 3, 2007 9:20pm May 3, 2007 9:20pm
What will be your stand on the GBP with the NFP tomorrow? what strategy will you use to enter?? Do you think it will go up or down??
  • #11,985
  • May 4, 2007 1:01am May 4, 2007 1:01am
Noticed that the US Dollar Index has steadily been on the rise - it passed 82.00 just moments ago.

Remember 82.2 was the value that was breached when the dollar took its major downward slide. This index has been indirectly proportional to GU's value - it goes up, GU goes down.


I just hope this rising index takes a rest and doesn't destroy my current GU buy position.



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  • #11,986
  • May 4, 2007 1:10am May 4, 2007 1:10am
Quoting forex_newbie
Noticed that the US Dollar Index has steadily been on the rise - it passed 82.00 just moments ago.

Remember 82.2 was the value that was breached when the dollar took its major downward slide. This index has been indirectly proportional to GU's value - it goes up, GU goes down.


I just hope this rising index takes a rest and doesn't destroy my current GU buy position.



.
I suggest that you keep an eye on the Euro - its the largest component of the index and seems more volatile than ususal.

http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #11,987
  • May 4, 2007 1:19am May 4, 2007 1:19am
long to 1.9923 if it breaks we will see 1.9940
  • #11,988
  • Edited 1:38am May 4, 2007 1:26am | Edited 1:38am
Quoting cesarnc
Not reliable since a month ADP came out -40K and NFP 100+

I just GUESSED.
maybe it's the NFP data that is not reliable?

if NFP is the big maket mover, then it make more sense for the big boys to manipulate (make unreliable) this data than ADP, no?

how many times (and by how much) have the previous months NFP data been revised/skewed?
  • #11,989
  • May 4, 2007 1:46am May 4, 2007 1:46am
Hi alll
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  • #11,990
  • May 4, 2007 1:57am May 4, 2007 1:57am
Hi All:
Forex experts and muli-million dollar forex investors KNOW EXACTLY what's gonna happen before and after the NFP. In fact, some of those investors have "INSIDER" information about the numbers before they come out. Some of the bigger investors are MAFIA.
  • #11,991
  • May 4, 2007 2:00am May 4, 2007 2:00am
Quoting forex_newbie
Noticed that the US Dollar Index has steadily been on the rise - it passed 82.00 just moments ago.

Remember 82.2 was the value that was breached when the dollar took its major downward slide. This index has been indirectly proportional to GU's value - it goes up, GU goes down.


I just hope this rising index takes a rest and doesn't destroy my current GU buy position.



.
Dollar Index (June Futures) was showing a positive MACD divergence, so this could already be "the bottom". However we have a tripple bottom @ 81.10, and i would prefer to see a false break of this level for confirmation.

http://charts.prophet.net/servlet/Ch...07197859819754
  • #11,992
  • May 4, 2007 2:12am May 4, 2007 2:12am
Quoting ashlee_17
Hi All:
Forex experts and muli-million dollar forex investors KNOW EXACTLY what's gonna happen before and after the NFP. In fact, some of those investors have "INSIDER" information about the numbers before they come out. Some of the bigger investors are MAFIA.
Which family are you?
  • #11,993
  • May 4, 2007 2:12am May 4, 2007 2:12am
Anyone know what happened with EU and EG?? No news nothing n they up more than 30 pips??

Someone please enlighten me.
  • #11,994
  • May 4, 2007 2:19am May 4, 2007 2:19am
Quoting indigo
maybe it's the NFP data that is not reliable?

if NFP is the big maket mover, then it make more sense for the big boys to manipulate (make unreliable) this data than ADP, no?

how many times (and by how much) have the previous months NFP data been revised/skewed?
well, you gotta point there

NFP revisions are so nasty that market simply forget about the actual... Previsously, if I'm no wrong, the revision came out 15 or 30 min after the release. causing price to reverse the move.

Now it's coming with the actual, thus making it much more difficult to trade, as platform freezes, spreads soar, FF calendar (my source) gets overload...

Oh, never to forget: Friday
  • #11,995
  • May 4, 2007 2:25am May 4, 2007 2:25am
Quoting dd33
Anyone know what happened with EU and EG?? No news nothing n they up more than 30 pips??

Someone please enlighten me.
Suggest you ask the Mafia....they´re probably just testing for NFP!
Trading Levels with WRBs
  • #11,996
  • Edited 2:54am May 4, 2007 2:28am | Edited 2:54am
Prepair thyself for a box play. its nearing 1.9855 and should shoot back up after 10:30UTC


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Darn.. that did not worked out... its probing 1.9850.. it went down to 1.9843 right now.
  • #11,997
  • May 4, 2007 2:28am May 4, 2007 2:28am
Quoting Islander
I suggest that you keep an eye on the Euro - its the largest component of the index and seems more volatile than ususal.

http://www.forexfactory.com/images/icons/icon12.gif
Great - any way of finding a graph / chart of all the components and their percentage effect on this index?
  • #11,998
  • May 4, 2007 2:31am May 4, 2007 2:31am
Quoting indigo
Dollar Index (June Futures) was showing a positive MACD divergence, so this could already be "the bottom". However we have a tripple bottom @ 81.10, and i would prefer to see a false break of this level for confirmation.

http://charts.prophet.net/servlet/Ch...07197859819754
I dont like Friday trading - you will definately see a false break or two.

.
  • #11,999
  • May 4, 2007 2:36am May 4, 2007 2:36am
EUR has dropped towards the 1.3540 support level yesterday, and touched the 1.3536 overnight. has bounced from late asian trading so far up to 1.3575. Sellers expected to be seen at around 1.3595 and at 1.3620. Buying is expected at 1.3490.
  • #12,000
  • May 4, 2007 2:38am May 4, 2007 2:38am
Quoting forex_newbie
Great - any way of finding a graph / chart of all the components and their percentage effect on this index?
The Dollar Index is compiled by the New York Board of Trade - http://www.nybot.com/ - they should have all the info, but I seem to remember a post a few weeks ago on this thread talking about it and its components.
Trading Levels with WRBs
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