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Cable Update (GBPUSD)

  • #14,581
  • Jun 8, 2007 1:23am Jun 8, 2007 1:23am
what if news is good ?
  • #14,582
  • Jun 8, 2007 1:27am Jun 8, 2007 1:27am
Cable fell ahead of the news... a leak???
  • #14,583
  • Jun 8, 2007 1:29am Jun 8, 2007 1:29am
Hello

1.9623 is the first monthly support For the Cable ... its important Point
  • #14,584
  • Jun 8, 2007 1:35am Jun 8, 2007 1:35am
Let's discuss about US Trade balance today ...
Give me patience
  • #14,585
  • Jun 8, 2007 2:27am Jun 8, 2007 2:27am
USD-index at critical 82.5 right now... Break will depend mostly on EU and UJ... Immediate/short term fundamentals are extremely USD bullish, after 10yr treasury broke above 5% yesterday....

I'm short GU 9686, after last bounce off 97s. No TP.

I'm out of the carries, since the same fundamentals are Yen and dollar bullish at the same time, making carry trades difficult to trade on UJ's erratic behavior
  • #14,586
  • Jun 8, 2007 2:33am Jun 8, 2007 2:33am
chart
Attached Image
  • #14,587
  • Jun 8, 2007 2:40am Jun 8, 2007 2:40am
Of course we gotta add the fact that ECB's and BOE's interest rate wait-and-see strategy is not at all as hawkish as the market would expect. This is GBP and EUR bearish across the board, in the short term.
  • #14,588
  • Jun 8, 2007 2:43am Jun 8, 2007 2:43am
I am short from 9683. So far it's bottomless but I am expecting some consolidation at 9650 before the US trade balance.
  • #14,589
  • Jun 8, 2007 2:46am Jun 8, 2007 2:46am
1.9650 has hit all my trade targets reached yay! all shorts now closed

50% fib has worked, question is more downside or now some consolidation around this fib? Will watch price action round here.

next fib = 61.8% and is approx 1.9550 area, other targets may be 1.9600
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 15 KB
  • #14,590
  • Jun 8, 2007 2:48am Jun 8, 2007 2:48am
Quoting x3m
I am short from 9683. So far it's bottomless but I am expecting some consolidation at 9650 before the US trade balance.
SL at B/E now... running on the house.

AUD and CHF dollar "thermometers" are now in the edge of the cliff... AUDUSD in the hourly is a H&S to me...
  • #14,591
  • Jun 8, 2007 2:51am Jun 8, 2007 2:51am
Wow... those who still hold their shorts from 99-ish would be starting to open their champagne now.. after weeks of small range and scalping pips here and there.. finally.. (quoted from dr. Frankenstein) "IT IS ALIVE..."
  • #14,592
  • Jun 8, 2007 3:04am Jun 8, 2007 3:04am
Quoting cesarnc
SL at B/E now... running on the house.

AUD and CHF dollar "thermometers" are now in the edge of the cliff... AUDUSD in the hourly is a H&S to me...
AUD/USD does look good to sell on houriles but also on the daily chart. Ive posted a daily in the AUD/USD (Aussie pairs thread) with good old fibs
  • #14,593
  • Jun 8, 2007 3:05am Jun 8, 2007 3:05am
Let's guess the end of this week shall be at 19600 or 195 ?
Give me patience
  • #14,594
  • Jun 8, 2007 3:11am Jun 8, 2007 3:11am
its party time...i think GU will hit 9600 before us market opens...
  • #14,595
  • Edited 8:27am Jun 8, 2007 3:15am | Edited 8:27am
Next point: 95.90




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  • #14,596
  • Jun 8, 2007 4:18am Jun 8, 2007 4:18am
Seems my initial target for cable at 1.9180 starting to make more sense now. Also think that the EUR/USD is likely to test its own very major trendline currently at 1.2870. Likely to see both before the end of the month. Those levels should be good ones for liquidating shorts and taking longs for intrayear trades. But once broken the next targets will be set at 1.84-85 on cable and at around 1.20 on the euro in addition to 1.38 on the swissy.
  • #14,597
  • Jun 8, 2007 4:19am Jun 8, 2007 4:19am
Quoting el_duende
AUD/USD does look good to sell on houriles but also on the daily chart. Ive posted a daily in the AUD/USD (Aussie pairs thread) with good old fibs
That's very true. I sold at 0.8461 when the news rally was over (see price activity) and AUDUSD is extremely oversold. At the same time UJ is winding up again now. This is a great longer term trade IMHO.

As for GU, EU and GJ, this has been one of the best weeks in a while, and maybe still some bear life left in GU.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #14,598
  • Jun 8, 2007 4:27am Jun 8, 2007 4:27am
Quoting Igrok
Seems my initial target for cable at 1.9180 starting to make more sense now. Also think that the EUR/USD is likely to test its own very major trendline currently at 1.2870. Likely to see both before the end of the month. Those levels should be good ones for liquidating shorts and taking longs for intrayear trades. But once broken the next targets will be set at 1.84-85 on cable and at around 1.20 on the euro in addition to 1.38 on the swissy.
Trust price. Know yourself.
  • #14,599
  • Jun 8, 2007 5:17am Jun 8, 2007 5:17am
cable is still bullish.
BAM BAM BOOM! -bravado
  • #14,600
  • Jun 8, 2007 5:23am Jun 8, 2007 5:23am
Quoting bravado
cable is still bullish.
maby not in the next hours/days thou
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