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Cable Update (GBPUSD)

  • #21,901
  • Jul 31, 2007 4:22am Jul 31, 2007 4:22am
btw I am expecting mixed Data and therefore mixed emotions... Perhaps no matter what the news will come out to be, best would be to follow the technical analysis... I don't believe all data will be in favor for US.
  • #21,902
  • Jul 31, 2007 4:26am Jul 31, 2007 4:26am
long euro, long, long...
its just money
  • #21,903
  • Jul 31, 2007 4:40am Jul 31, 2007 4:40am
Have covered cad shorts, maybe some more in it will just wait for the long

Think i'll start buying around 0560 ish
"Millionaires don't use astrology, billionaires do"
  • #21,904
  • Jul 31, 2007 5:13am Jul 31, 2007 5:13am
Chunnel shorts proved to be a good trade so far, was looking for 50% retrace there to buy longs again, wish i stuck with it now
"Millionaires don't use astrology, billionaires do"
  • #21,905
  • Jul 31, 2007 5:18am Jul 31, 2007 5:18am
What numers are good for bears, bulls in 12 min?
  • #21,906
  • Jul 31, 2007 5:19am Jul 31, 2007 5:19am
waiting for US news to enter new position..
  • #21,907
  • Jul 31, 2007 5:23am Jul 31, 2007 5:23am
Think today we will trade the 4hr range established
"Millionaires don't use astrology, billionaires do"
  • #21,908
  • Jul 31, 2007 5:35am Jul 31, 2007 5:35am
Data for Us = stable economy?

not big surprises. Just slightly lower than expected in all four data. ( 0.1% )
  • #21,909
  • Jul 31, 2007 5:39am Jul 31, 2007 5:39am
Pack of data + Market action:

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Attached Image
  • #21,910
  • Jul 31, 2007 5:40am Jul 31, 2007 5:40am
waiting for further bull crap with Chicago PMI...

News are getting boring. Literally so boring.

however dollar managed to raise against euro and sterling by few pips... not a great momentum of course.
  • #21,911
  • Jul 31, 2007 5:56am Jul 31, 2007 5:56am
Stock market pointing north on companies' earnings, better than forecast.

To know, this was the propeller to 14,000 few days ago.
  • #21,912
  • Jul 31, 2007 6:03am Jul 31, 2007 6:03am
Quoting cesarnc
Stock market pointing north on companies' earnings, better than forecast.

To know, this was the propeller to 14,000 few days ago.
hoping this will boost Dollar... Still short on eurusd.
  • #21,913
  • Jul 31, 2007 6:20am Jul 31, 2007 6:20am
Quoting Alfa159
hoping this will boost Dollar... Still short on eurusd.

from my observation when the u.s. stock market rallies the pound will rally with it. seems odd that it does that. you would think the dollar will rally instead of the pound. just my observation is all.
  • #21,914
  • Jul 31, 2007 6:22am Jul 31, 2007 6:22am
Quoting treadline
from my observation when the u.s. stock market rallies the pound will rally with it. seems odd that it does that. you would think the dollar will rally instead of the pound. just my observation is all.

hmmm didnt know that.. I didnt really observe it before but was just guessing... Lets see what Chicago PMI will be.. I am thinking a bad data for US. we'll see...
  • #21,915
  • Edited 6:35am Jul 31, 2007 6:29am | Edited 6:35am
Hi all... If you look at the chart TF 15m, the pair refused to approach 61.8%fibo, it bounces back now.

Looking at TF 4H, will the bear (start to) lose momentum and resume the rally to 2.0625 (highest)?

How big will the fundamental pressure on the pair today?
Hello World
  • #21,916
  • Jul 31, 2007 6:33am Jul 31, 2007 6:33am
Quoting waf_1988
Hi all... If you look at the chart TF 15m, the pair refuse to approach 38.2%fibo, it bounces back now.

Looking at TF 4H, will the bear lose momentum and resume to 2.0625 (highest)?

my observation is that it will move higher but to what i dont know. im have a 50 pip tp north. so will lock in some pips without risking alot. but you need to decide where the market will be at so look at your charts and see.
  • #21,917
  • Jul 31, 2007 6:35am Jul 31, 2007 6:35am
what does the chicago pmi do? anybody know?
  • #21,918
  • Jul 31, 2007 6:37am Jul 31, 2007 6:37am
Will the chicago pmi have a big impact on cable, having checked previous charts i personally couldn't see a huge impact
  • #21,919
  • Jul 31, 2007 6:37am Jul 31, 2007 6:37am
Quoting cesarnc
Stock market pointing north on companies' earnings, better than forecast.
Dow +102 at open http://forum.gtarena.net/images/smilies/smiley_rock.gif
  • #21,920
  • Jul 31, 2007 6:40am Jul 31, 2007 6:40am
Quoting treadline
my observation is that it will move higher but to what i dont know. im have a 50 pip tp north. so will lock in some pips without risking alot. but you need to decide where the market will be at so look at your charts and see.
What do you think about today's fundamental?! Will it wight more on the pair?
I think the pair's bear is losing its momentum, but I worry more about fundamental as it will fail my analysis
Hello World
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