DislikedQ, whats your analysis for tomorrow after the rate cut? We all know that the USD is going to take a pounding if the rate cute is actually going to happen. This may help the equities and they might rally upwards after the news. In the past the equity market have gone higher during rate cut but after the cut the DOW just tanks as if there is no end. DO you see this happening and what is your price target for GJ.Ignored
I do think we'll see a rally after the announcement either way but I think it will be very short lived. Right now I'm looking to short @ 229.30, 230.30's, 231.60's (if it makes it up there). My reasoning is UJ could move up 112/112.50 and GU will probably try to retest 2.0520/530's and even higher (to close gap from BOE announcement). Also, let us not forget UK employment data to be released later this week which is anticipated to be bad (which could get priced-in before announcement) or add fuel to the downside for GU. . . I'm even prepared to short up to 233 if it gets there which I doubt because overall both UJ and GU larger trend is to the downside. . .
Target for me will be open to the downside but could easily see testing S3 support @ 223.20's if we see a run above 229.50/70's but below 230.50's. . .