Yen just got hit with some selling across the board.
Cable Update (GBPUSD)
- #31,441
- Sep 18, 2007 11:53pm Sep 18, 2007 11:53pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #31,442
- Sep 19, 2007 12:52am Sep 19, 2007 12:52am
- Joined Mar 2007 | Status: we are stardust, we are golden | 1,364 Posts
Virtue finds and chooses the mean.
Aristotle, Ethica Nichomachea
- #31,444
- Sep 19, 2007 1:55am Sep 19, 2007 1:55am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
good morning tradORS, lets see how the impact of yesterday's rate cut will play out today. I'm bullish on pound today and 2.02 i think is a fair level to aim for as a 1st target.
I also think that EUR/GBP will retrace today somewhat, this is based on the fact that euro has very tough resistance to tackle, namely being 1.4 level and pound doesn't have this kind of obstacle, so this is my my view for today, happy trading all.
its just money
- #31,445
- Sep 19, 2007 1:56am Sep 19, 2007 1:56am
good morning tradORS, lets see how the impact of yesterday's rate cut will play out today. I'm bullish on pound today and 2.02 i think is a fair level to aim for as a 1st target.
I also think that EUR/GBP will retrace today somewhat, this is based on the fact that euro has very tough resistance to tackle, namely being 1.4 level and pound doesn't have this kind of obstacle, so this is my my view for today, happy trading all.
im with you dude....im holding my longs open ............that .50 point cut just verified that US economy is in bad shape....so i think we should be thinking long on the cable... but keep in mind cable can be a bitch so we have to keep and eye on it.....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
- #31,446
- Sep 19, 2007 2:09am Sep 19, 2007 2:09am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
yeah i guess the first thing traders may want to do is to take some of the stops like at 2.01 level or something and then resume as they would but we'll have to wait and se. London opened in positive , must be a good sign 
- #31,449
- Sep 19, 2007 2:38am Sep 19, 2007 2:38am
phuckkkkkkkkkkkkkkkkkkkkkk you got my longs again......... dont tell me we are headin back down.............................i haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaat4eeeeeeeeeeeeeeeeeeeeeeeeee you cable i hate you..........im just playing i love you.....always will....remember that.....
dont tell me we are headin back down.............................i haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaat4eeeeeeeeeeeeeeeeeeeeeeeeee you cable i hate you..........im just playing i love you.....always will....remember that.....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
- #31,450
- Sep 19, 2007 2:46am Sep 19, 2007 2:46am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
pffff riiiight, just as i expected. NOT.
Had long on cable from 33 went to 70, nice i thought 2.02 here we come , nice and easy no retracement, boom stop loss -21, how nice of cable :
EURGBP retracing?? nooo, why would it , too simple, too predictive....well not really sure what it will do next.
Had long on cable from 33 went to 70, nice i thought 2.02 here we come , nice and easy no retracement, boom stop loss -21, how nice of cable :
EURGBP retracing?? nooo, why would it , too simple, too predictive....well not really sure what it will do next.
- #31,452
- Sep 19, 2007 2:47am Sep 19, 2007 2:47am
- | Commercial User | Joined Aug 2007 | 6,072 Posts
well my view is, once we break 1.40, it will be disasturs.....i got to call my friend, which prays as hell for the 1.40 to not be touched till the end of month
Most probably 1.40 shall be hit this month, right from here or after a fall.
Hello World!
- #31,453
- Edited 2:57am Sep 19, 2007 2:48am | Edited 2:57am
"BOE May Cut Rates in the Wake of the US - UK Times
- While the Bank will find comfor that the run on Northern Rock seemed to be over, optimism that it will still respond with rate cuts — by Christmas — received a big boost from yesterday’s reassuring inflation figures. After falling in July from from 10-year highs above 3% — set as recently as March — to just 1.9%, yesterday’s August figures showed headline inflation on the consumer prices index falling further, to 1.8 per cent.
- This is below the Bank of England’s 2% target rate for a second month, leaving economists arguing that it now has a freer hand to cut rates if it sees this as vital to prevent an economic downturn."
And this is why is heading down... also we had this news:
BOJ Fukui: - Dissenter Mizuno voted for a 25bps hike
- Other central bank policies would not limit the BOJ's options
- Must watch how global economic developments will effect Japan
- Dissenter [Mizuno] voted for a 25bps hike
- View on the US economy in line with that of the Fed
- There is a downside risk to the US economy
- Must watch the tankan survey [[Due on 9/30]]
- Current Japanese rates are very low [[in line with previous comments]]
- Will conduct policy in a timely manner [[in line with previous comments]]
- Must watch risks before taking any policy action [[in line with previous comments]]
- Does not see the US economy falling into a recession [[in line with previous comments]]
- BOJ does not have any target level for interest rates [[in line with previous comments]]
Source: Trade the News
But i'm buying on dips
- While the Bank will find comfor that the run on Northern Rock seemed to be over, optimism that it will still respond with rate cuts — by Christmas — received a big boost from yesterday’s reassuring inflation figures. After falling in July from from 10-year highs above 3% — set as recently as March — to just 1.9%, yesterday’s August figures showed headline inflation on the consumer prices index falling further, to 1.8 per cent.
- This is below the Bank of England’s 2% target rate for a second month, leaving economists arguing that it now has a freer hand to cut rates if it sees this as vital to prevent an economic downturn."
And this is why is heading down... also we had this news:
BOJ Fukui: - Dissenter Mizuno voted for a 25bps hike
- Other central bank policies would not limit the BOJ's options
- Must watch how global economic developments will effect Japan
- Dissenter [Mizuno] voted for a 25bps hike
- View on the US economy in line with that of the Fed
- There is a downside risk to the US economy
- Must watch the tankan survey [[Due on 9/30]]
- Current Japanese rates are very low [[in line with previous comments]]
- Will conduct policy in a timely manner [[in line with previous comments]]
- Must watch risks before taking any policy action [[in line with previous comments]]
- Does not see the US economy falling into a recession [[in line with previous comments]]
- BOJ does not have any target level for interest rates [[in line with previous comments]]
Source: Trade the News
But i'm buying on dips
No Brain, no Gain.
- #31,454
- Sep 19, 2007 2:56am Sep 19, 2007 2:56am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
ok now im trying to get back at the market )) long at 104 with stop at 75 if this doesnt go into profid ill be seriously pissed off )
)) long at 104 with stop at 75 if this doesnt go into profid ill be seriously pissed off )
- #31,455
- Sep 19, 2007 2:56am Sep 19, 2007 2:56am
phuckkkkkkkkkkkkkkkkkkkkkk you got my longs again.........
"If, at first, you don't succeed, try, try, try again"
- Winston Churchill
- #31,458
- Sep 19, 2007 3:09am Sep 19, 2007 3:09am
- Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
im with you dude....im holding my longs open ............that .50 point cut just verified that US economy is in bad shape....so i think we should be thinking long on the cable... but keep in mind cable can be a bitch so we have to keep and eye on it.....
UK property market is sky high, prices falling, many people have 2 mortgages and will be in negative equity by Springtime..
Carry trades are sunk now as it's not worth chasing high risk assets with this much risk around.
Without carry trades, and with UK housing slumping, where would support for GBP come from, especially as UK rates have peaked ? so moves to dollar as a safe currency balances twin deficits concerns ...net net - not much change ?
- #31,459
- Sep 19, 2007 3:11am Sep 19, 2007 3:11am
- | Membership Revoked | Joined Mar 2005 | 4,703 Posts
If I Go Broke Trying Then I Will die happy.