Cesarnc's market talk, gossips, rumours & fun
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Cable has a big pin-bar in the H4, long entry is 2.0193 (w/ spread).
I like this set up : pin-bar + rejected at 0100 + weekly trendline + time to recover + gut feeling
Cable has a big pin-bar in the H4, long entry is 2.0193 (w/ spread).
I like this set up : pin-bar + rejected at 0100 + weekly trendline + time to recover + gut feeling
Dec. 17 (Bloomberg) -- Just a month after rising to a 26- year high against the dollar, the British pound is starting to look more like the beleaguered U.S. currency. (You don't say?)
The pound weakened against 12 of the world's 16 most actively traded currencies since reaching $2.1161 on Nov. 9. In the U.K., just as in the U.S., policy makers are cutting interest rates to restore calm in credit markets and home prices are declining. (Like we don't know. :surprised)
``When we look at economies around the world which are exposed to similar problems as in the U.S., the U.K. is pretty high on our list,'' said Andrew Balls, a global bond fund manager at Newport, California-based Pacific Investment Management Co., which oversees $721 billion. ``Sterling is a good currency to sell.'' (I've been saying all along, where have you been?)
(...)
Strategists say there's more pain in store for the pound. Zurich-based UBS AG and Frankfurt-based Deutsche Bank AG, the world's biggest foreign-exchange traders, predict the currency will weaken at least 6 percent against the dollar in 2008. Pimco, a unit of Munich-based insurer Allianz SE, New York-based Merrill Lynch & Co. and Goldman Sachs Group Inc. say sterling may be overvalued by as much as 25 percent, based on the level of trading done between the U.K. and the U.S., and prices for the same goods in the countries. (Come on, who are you kidding? Really? I don't believe you.
RMK: The only problem with Bloomberg is that most of the time the market goes the other way
This is setting up for a wild day tomorrow......
HOLLA
zzzzzzzzzzz These guys are already in Aspen, Vail or the Caribean. Lazy fuchks.
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cable might make 1500 pips from here,...top should form at 2.166, i think the level between 2.0 and 2.111 will not be reached since the pshilogical number 2.0 will prevent that to happen,..just a thought, ...
