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Cable Update (GBPUSD)

  • #16,941
  • Jul 3, 2007 9:25am Jul 3, 2007 9:25am
hmmm yesterday was daily range after looong time above 100 pips, but today its again very tight and tomorrow will be even more quiet.
  • #16,942
  • Jul 3, 2007 9:38am Jul 3, 2007 9:38am
We have a major Bank Holidays tomorrow followed by Interest Rates decision day. It's TOTALLY normal for price to remain range-bound for the time being.
  • #16,943
  • Jul 3, 2007 9:44am Jul 3, 2007 9:44am
Quoting SunTrader
And London has closed for the day and Tokyo hasn't opened yet. Not to mention BOE rate announcement coming.
After the BOE it will fall like a stone as apparently everyone is secretly expecting 2.5% not 0.25% - just like when they left it alone and 'everyone' was expecting that. It appears that the published 'expectation' ain't true at all...they must be asking the wrong people...
  • #16,944
  • Jul 3, 2007 9:51am Jul 3, 2007 9:51am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
So WTB you do not expect cable to test R1 on 2.0213 today or just todays high?
I think it just has to go throught 2.0170 level and we go for R1...

What do you think?
  • #16,945
  • Jul 3, 2007 10:05am Jul 3, 2007 10:05am
tomorow is a unique day, its the 4th of july and interest rates statement, so usd might be hurt, teory says 1st they will raise rates, and "noone" on defensive from usd sight, practise offen acts differently like priced in & taking profit...when euro broke 1.3 it went a lot up, before revisiting the 1.288 area...just thinking laud..
its just money
  • #16,946
  • Jul 3, 2007 10:10am Jul 3, 2007 10:10am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quote

tomorow is a unique day, its the 4th of july and interest rates statement, so usd might be hurt, teory says 1st they will raise rates, and "noone" on defensive from usd sight, practise offen acts differently like priced in & taking profit...when euro broke 1.3 it went a lot up, before revisiting the 1.288 area...just thinking laud..

Ou...thank you for that information...I have to be carefull then


So it acts like Ronaldinho...you think he will go left
but he goes right....
  • #16,947
  • Jul 3, 2007 10:18am Jul 3, 2007 10:18am
Quoting dado26
Ou...thank you for that information...I have to be carefull then


So it acts like Ronaldinho...you think he will go left
but he goes right....
Trade what you see, not what you think.
  • #16,948
  • Jul 3, 2007 10:18am Jul 3, 2007 10:18am
Quoting dado26
Ou...thank you for that information...I have to be carefull then


So it acts like Ronaldinho...you think he will go left
but he goes right....
No like Rock Hudson - instead of going forwards he went backwards
  • #16,949
  • Jul 3, 2007 10:23am Jul 3, 2007 10:23am
why not left.
its just money
  • #16,950
  • Jul 3, 2007 10:26am Jul 3, 2007 10:26am
Quoting de123
why not left.
I think currencies stand still or go forward or backward or up or down..if it goes left it means you need a new mouse or chair
  • #16,951
  • Jul 3, 2007 10:35am Jul 3, 2007 10:35am
Quoting allserene
No like Rock Hudson - instead of going forwards he went backwards
Someone once said, too many rear-end collisions.
  • #16,952
  • Jul 3, 2007 10:37am Jul 3, 2007 10:37am
Dow and everything else closed here now. So should be pretty quiet for a while.
  • #16,953
  • Jul 3, 2007 1:01pm Jul 3, 2007 1:01pm
2 and a half hours with zero post here.

That I call "lousy day to trade"...
  • #16,954
  • Jul 3, 2007 1:02pm Jul 3, 2007 1:02pm
The market has been two days closing at the same range (around 0170) therefore, we are going to see the same range at the minutes before announcing the interest rate. So, if you get little far from that number try to go back to it.
Yesterday, Asia market's low was 0157 and high was 0183
Guys, Let's play rolling-coaster between that two points.

=====================================
  • #16,955
  • Jul 3, 2007 1:09pm Jul 3, 2007 1:09pm
For the bears, a day to lick the wounds

http://www.lathanh.com/lily/Polar%20bear.jpeg

For the bulls, a day to refuel

http://flatheadfarms.com/images/bull_eating.jpg



I'll be back by Asia
  • #16,956
  • Jul 3, 2007 1:38pm Jul 3, 2007 1:38pm
Can anyone tell me what time there would be trade activity tommorow??
I live in South Africa would be help full

Thanks>
  • #16,957
  • Jul 3, 2007 1:45pm Jul 3, 2007 1:45pm
Quote
The Independence Day holiday might see some significant shifts in the market, as investors take advantage of the lower volume of trades.
Fewer participants around the holidays creates higher volatility in the markets, allowing a small group of traders to push currency movements up with large sells and purchases.

hmm what do you think ?
  • #16,958
  • Jul 3, 2007 1:45pm Jul 3, 2007 1:45pm
Quoting cesarnc
For the bears, a day to lick the wounds

http://www.lathanh.com/lily/Polar%20bear.jpeg

For the bulls, a day to refuel

http://flatheadfarms.com/images/bull_eating.jpg



I'll be back by Asia
Classic....

2 questions cesarnc,

1. where are you from???

2. When trading how many lots do you start out with?

I notice that you always close 3/4 once profit is made and then you leave 1/4 open. Just curious if you don't mind revealing....

Thanks in advance
  • #16,959
  • Jul 3, 2007 1:48pm Jul 3, 2007 1:48pm
Quoting manu.aquetdju
hmm what do you think ?
Just take a look at what happen in November around Thanksgiving (Nov 23-24, 2006)

Big swings in the market.....
  • #16,960
  • Jul 3, 2007 2:03pm Jul 3, 2007 2:03pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting honda250nsr
Can anyone tell me what time there would be trade activity tommorow??
I live in South Africa would be help full

Thanks>
not sure 100%, but you should see the asian market (10pm uk time now about to open) run through to the uk market (9am 4 july) with a small slow time frame from 5pm uk time to 10pm uk time as the USA market will be keeping the brewery business going until the fireworks are over.

hope this helps, would expect tommorow to be quiet with a major play being asleep.

thursday should be fun.
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