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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #17,041
  • Aug 28, 2007 1:00pm Aug 28, 2007 1:00pm
Quoting markam
So much has happened since the fed meeting, I think it will be a nonevent.
the fed meeting will always be an event. it will move.
  • #17,042
  • Aug 28, 2007 1:00pm Aug 28, 2007 1:00pm
Might be a good time for some short scaping.
  • #17,043
  • Aug 28, 2007 1:00pm Aug 28, 2007 1:00pm
My broker told me this news could make the pairs so volatile , so better take care
COT: The precious data ignored
  • #17,044
  • Aug 28, 2007 1:01pm Aug 28, 2007 1:01pm
Bad news
COT: The precious data ignored
  • #17,045
  • Aug 28, 2007 1:01pm Aug 28, 2007 1:01pm
Quoting markam
So much has happened since the fed meeting, I think it will be a nonevent.
Good call Markham, the only bit of news I found interesting besides the obvious was they are lowering GDP growth for next year also.
  • #17,046
  • Aug 28, 2007 1:03pm Aug 28, 2007 1:03pm
ok so now we test 229.30 then 226.99? Seeting up nicely for those targets so far.
  • #17,047
  • Aug 28, 2007 1:03pm Aug 28, 2007 1:03pm
why haven't the minutes been posted yet?
  • #17,048
  • Aug 28, 2007 1:05pm Aug 28, 2007 1:05pm
"The Federal Open Market Committee seeks monetary and financial conditions that will foster price stability and promote sustainable growth in output. To further its long-run objectives, the Committee in the immediate future seeks conditions in reserve markets consistent with maintaining the federal funds rate at an average of around 5-1/4 percent."

http://www.federalreserve.gov/fomc/minutes/20070807.htm
  • #17,049
  • Aug 28, 2007 1:05pm Aug 28, 2007 1:05pm
Quoting jay9170
ok so now we test 229.30 then 226.99? Seeting up nicely for those targets so far.
I'm pretty sure we will get a retracement up after the US markets close. The interesting thing will be what GJ does in the next 2 hours.
  • #17,050
  • Aug 28, 2007 1:06pm Aug 28, 2007 1:06pm
Quoting quickpips
Good call Markham, the only bit of news I found interesting besides the obvious was they are lowering GDP growth for next year also.
" . . . they are lowering GDP growth . . . ". So simple a caveman could do it!

Ron http://www.forexfactory.com/images/icons/icon7.gif
  • #17,051
  • Aug 28, 2007 1:06pm Aug 28, 2007 1:06pm
The vote encompassed approval of the text below for inclusion in the statement to be released at 2:15 p.m.:

"Although the downside risks to growth have increased somewhat, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the outlook for both inflation and economic growth, as implied by incoming information."

Votes for this action: Messrs. Bernanke, Geithner, Hoenig, Kohn, Kroszner, Mishkin, Moskow, Poole, Rosengren, and Warsh.

Votes against this action: None.
  • #17,052
  • Aug 28, 2007 1:06pm Aug 28, 2007 1:06pm
DOW support attacked , if it breaks , welcome to hell
COT: The precious data ignored
  • #17,053
  • Aug 28, 2007 1:06pm Aug 28, 2007 1:06pm
Quoting quickpips
Good call Markham, the only bit of news I found interesting besides the obvious was they are lowering GDP growth for next year also.

I agree with Markem on the short to retest the low. I've taken it. Safe bet i think.. after it has retested.. who knows.. day bull so is this August going to be like many others and just a good month for the yen.. come back in september..
?
  • #17,054
  • Aug 28, 2007 1:08pm Aug 28, 2007 1:08pm
-165 on the dow - this is looking bad. perhaps the fed ain't gonna cut. unemployment numbers on friday are going to be interesting to say the least.
  • #17,055
  • Aug 28, 2007 1:10pm Aug 28, 2007 1:10pm
Quoting markam
I'm pretty sure we will get a retracement up after the US markets close. The interesting thing will be what GJ does in the next 2 hours.

Yeh i think so too , GJ was into his retracement mode , but FOMC minutes stopped it. After NY session close , we should see the awaited retracement
COT: The precious data ignored
  • #17,056
  • Aug 28, 2007 1:10pm Aug 28, 2007 1:10pm
You definitely would not read those minutes and think they were going to cut rates at the next meeting.
  • #17,057
  • Aug 28, 2007 1:11pm Aug 28, 2007 1:11pm
Quoting Pips_Cruiser
" . . . they are lowering GDP growth . . . ". So simple a caveman could do it!

Ron http://www.forexfactory.com/images/icons/icon7.gif
My other favorite was the Fed sees the subprime market having a negative effect on the market. Good job!!
  • #17,058
  • Aug 28, 2007 1:12pm Aug 28, 2007 1:12pm
Quoting ukvipersden
-165 on the dow - this is looking bad. perhaps the fed ain't gonna cut. unemployment numbers on friday are going to be interesting to say the least.
The market thinks there is a 100% chance they will cut. I think there is 0% chance they will cut. It won't fix the banking problem, and it would do serious damage to the dollar and our ability to market federal debt to foreign countries.

All it would do is give a short-term boost to the stock market, and that is the stupidist reason in the world to cut rates.
  • #17,059
  • Aug 28, 2007 1:13pm Aug 28, 2007 1:13pm
You can download it here (also other interesting indicators):

http://adry-fx.blogspot.com/2007_05_01_archive.html

Regards

Pepe
  • #17,060
  • Aug 28, 2007 1:13pm Aug 28, 2007 1:13pm
real quick while its quiet in here, when looking for retracements, what are we looking for in the momentum indicator? Is this what we use to determine retracements? I noticed aus mentioned 4 hour retracement to 5sma a little earlier, what was he looking at for indication of such?

Thanks for your help.
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