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Cable Update (GBPUSD)

  • #44,481
  • Dec 12, 2007 8:46am Dec 12, 2007 8:46am
Quoting AmeriTrini
how is the US economy doing this???
8:30pm USD Trade Balance -57.8B -57.3B -57.1B
8:30pm USD Import Price Index m/m 2.7% 2.0% 1.4%

This Make JPY Down...
  • #44,482
  • Dec 12, 2007 9:08am Dec 12, 2007 9:08am
FX daily if you look at the chart we are going downside in monthly wise - pls check - u are going with daily chart check monthly
  • #44,483
  • Dec 12, 2007 9:11am Dec 12, 2007 9:11am
What a crazy cpl of hours, I'm glad I'm out!
  • #44,484
  • Dec 12, 2007 9:13am Dec 12, 2007 9:13am
Did it spike up all the way to 580 or is it just the chart I am looking at (not the most reliable, but I am at work and metatrader can't be used here) ?

Thanks...
"Lunch ? Lunch Is For Wimps !"
  • #44,485
  • Dec 12, 2007 9:19am Dec 12, 2007 9:19am
Quoting FXdaily
Now its Party time partypartypartyparty im going to partyparty yeeehaa hehe one bestest day in my trading history NOW !!!
pretty good, here +138 since yesterday, but do you know what i am going to do now?

avoid overtrading, i am just going to relax, buy a nice pizza and play a game, watch a movie or whatever, while letting the bulls or bears push the currencies to dangerous levels. then enter.

overtrading killed me many times in the past, i am not going to give back the gains.
  • #44,486
  • Dec 12, 2007 9:23am Dec 12, 2007 9:23am
Quoting Designer1
FX daily if you look at the chart we are going downside in monthly wise - pls check - u are going with daily chart check monthly
Here it is Mounthly chart for you
Attached Image (click to enlarge)
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  • #44,487
  • Dec 12, 2007 9:23am Dec 12, 2007 9:23am
in my humble opinion we are heading to 2.0300.
the fed leadership over other banks is probably gonna benefit the usd short term, thats a good signal.

also we just got a double top in gu. eu is probably gonna fall too and put more pressure on gbp.
  • #44,488
  • Dec 12, 2007 9:25am Dec 12, 2007 9:25am
Quoting acidguy
pretty good, here +138 since yesterday, but do you know what i am going to do now?

avoid overtrading, i am just going to relax, buy a nice pizza and play a game, watch a movie or whatever, while letting the bulls or bears push the currencies to dangerous levels. then enter.

overtrading killed me many times in the past, i am not going to give back the gains.

Yes friend absoulutley agree..Im goin Bar and geting there some beers and waching nice womans then im away from home and i cant trade
  • #44,489
  • Dec 12, 2007 9:27am Dec 12, 2007 9:27am
ouch, i wake up to find that price went 2 pips below my stoploss then up 200 pips , oh well, still up 4% overall today this pair seems to choppy right now, no more trading it for today.
  • #44,490
  • Dec 12, 2007 9:31am Dec 12, 2007 9:31am
Quoting FXdaily
Yes friend absoulutley agree..Im goin Bar and geting there some beers and waching nice womans then im away from home and i cant trade
well, it sounds like a nice plan too
  • #44,491
  • Dec 12, 2007 9:52am Dec 12, 2007 9:52am
Quoting acidguy
in my humble opinion we are heading to 2.0300.
the fed leadership over other banks is probably gonna benefit the usd short term, thats a good signal.

also we just got a double top in gu. eu is probably gonna fall too and put more pressure on gbp.
Fed leadership ? they are fighting for their lives after the US has destroyed its credibility with it's ONGOING AND INCREASING twin deficits and sub-prime scandals..

If there is a serious downturn then their war chest is already depleted at the current interest rates so they will just have to watch the ship sink coz zero is as low as it goes

I can't see any reason for foreigners to put assets into USD right now...

only when the budget / current account problems look like being addressed can the USD head for respectability again otherwise the chance of 2.20 is not impossible
  • #44,492
  • Dec 12, 2007 9:59am Dec 12, 2007 9:59am
my opinion
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 26 KB
  • #44,493
  • Dec 12, 2007 10:14am Dec 12, 2007 10:14am
Quoting allserene
Fed leadership ? they are fighting for their lives after the US has destroyed its credibility with it's ONGOING AND INCREASING twin deficits and sub-prime scandals..

If there is a serious downturn then their war chest is already depleted at the current interest rates so they will just have to watch the ship sink coz zero is as low as it goes

I can't see any reason for foreigners to put assets into USD right now...

only when the budget / current account problems look like being addressed can the USD head for respectability again otherwise the chance of 2.20 is not impossible
yes but its sad, all the world has drink of those twin deficits.

if they didnt have this, the world would probably be much undeveloped.
i think those deficits are in fact pretty good to keep the world liquid and has created lot of jobs and wealth.
taking into account new kind of renowable energies developments, still leave the humans with lot of consume yet.

i live in south america, look at these lands, they are green, most countries empty, full water, tons of growing potential to feed the world.
  • #44,494
  • Dec 12, 2007 10:38am Dec 12, 2007 10:38am
just opinion ... i think cable will test fibo line 38.2 @2.0586 again today ... its still bullish
  • #44,495
  • Dec 12, 2007 11:00am Dec 12, 2007 11:00am
Any reason for the huge spike up a few hours ago ?

Thanks...
"Lunch ? Lunch Is For Wimps !"
  • #44,496
  • Dec 12, 2007 11:07am Dec 12, 2007 11:07am
Quoting MrFuture
Any reason for the huge spike up a few hours ago ?

Thanks...

test fibo line 38.2 @2.0586
  • #44,497
  • Dec 12, 2007 11:27am Dec 12, 2007 11:27am
Quoting acidguy
yes but its sad, all the world has drink of those twin deficits.

if they didnt have this, the world would probably be much undeveloped.
i think those deficits are in fact pretty good to keep the world liquid and has created lot of jobs and wealth.
taking into account new kind of renowable energies developments, still leave the humans with lot of consume yet.

i live in south america, look at these lands, they are green, most countries empty, full water, tons of growing potential to feed the world.
oh I agree - but now the Americans must pay their bills... some of it (15 to 20%) will be avoided by this devaluation which has to grow at the same time as the deficits..

Just look - the deficit on trade is not even impacted by the crashing USD - in theory it should halt imports- that tells me there is a long way to go....

LAG can last years

so i will buy the dips on cable while this goes on...

there is nothing to stop it...and an improvement in the world economy will reduce the 'safe currency' premium on the USD and send it down (relatively )even more

The only way for the US to get China off its back is to devalue and it's doing that without inflation by making china bear the devaluation fall out

clever in the short term

come on the next dip....
  • #44,498
  • Dec 12, 2007 11:54am Dec 12, 2007 11:54am
Quoting allserene
oh I agree - but now the Americans must pay their bills... some of it (15 to 20%) will be avoided by this devaluation which has to grow at the same time as the deficits..

Just look - the deficit on trade is not even impacted by the crashing USD - in theory it should halt imports- that tells me there is a long way to go....

LAG can last years

so i will buy the dips on cable while this goes on...

there is nothing to stop it...and an improvement in the world economy will reduce the 'safe currency' premium on the USD and send it down (relatively )even more

The only way for the US to get China off its back is to devalue and it's doing that without inflation by making china bear the devaluation fall out

clever in the short term

come on the next dip....
i think they probably can do the switch from their imports to an export economy and give back to the world while they can benefit from another boom and prosperity century.
  • #44,499
  • Dec 12, 2007 12:06pm Dec 12, 2007 12:06pm
Tommorrow NEWS : 8:30am USDRetail Sales m/m 0.5%0.2%
8:30am USDCore Retail Sales m/m 0.6%0.2%
8:30am USDPPI m/m 1.6%0.1%
8:30am USDCore PPI m/m 0.2%0.0%
8:30am USDUnemployment Claims 335K338K

That means Cable shoots like rocket 50......100 pipses
DOWN
  • #44,500
  • Dec 12, 2007 12:44pm Dec 12, 2007 12:44pm
It is really trying to stay in the upward area....I wonder if all of a sudden it will break upwards even more....
"Lunch ? Lunch Is For Wimps !"
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