Daily Cable Analysis

Interesting Pic - seems like this TL has proved its merit from 2001 and on, serves as a pivot for reversal in direction 9 times since 2001 on the weeklys. We bounced right off of this trendline on the week of 1/12/07, the first confirming week of positive reversal on the weekly chart.

Here is a more recent zoomed in view.

Just down the coast from you here in Sunny Astoria Oregon...it was a chilly 31 on the beach today. I should have gone for a walk on that beach instead of doodlin' with the pound today. Glad i was trading my usual DemoMonday. The break below friday's low got a few pips from my demo account. I did stop and reverse, but the day was still negative a dozen pips.

: ) Thom

Action Forex does a pretty thorough analysis don't they? Gives important facts but few conclusions.


[quote=enzo2325;201381]Cable HIt 1.9546 today. At this point, intraday bias remains on the downside as long as cable stays below 1.9614 minor resistance. Further decline is expected to follow towards rising trend line (1.8517 to 1.8834, now at 1.9469).

Above 1.9614 will turn intraday outlook consolidative and bring some mild recovery. But still, break of 1.9679 is needed to indicate that fall from 1.9913 has completed. Otherwise, risk of another fall remains.
In the bigger picture, right now, we already have bearish divergence conditions in weekly RSI, daily MACD and RSI.

Hi,yes commercials are in blue@ the bottom line.

Roger

BradoneAction Forex does a pretty thorough analysis don't they? Gives important facts but few conclusions.


[quote=enzo2325;201381]Cable HIt 1.9546 today. At this point, intraday bias remains on the downside as long as cable stays below 1.9614 minor resistance. Further decline is expected to follow towards rising trend line (1.8517 to 1.8834, now at 1.9469).

Above 1.9614 will turn intraday outlook consolidative and bring some mild recovery. But still, break of 1.9679 is needed to indicate that fall from 1.9913 has completed. Otherwise, risk of another fall remains.
In the bigger picture, right now, we already have bearish divergence conditions in weekly RSI, daily MACD and RSI.



Yes...They do

reviewing changes in open interest and net speculative (non commercial) positions will give some insight into trend direction especially in the short term, however when you see commercials positioned net short and noncommercial(speculators at an extreme reading long) this is the warning sign for a possible trend reversal, the commercials have got their positions built and there are no more speculators to buy. THe big money puts selling pressure on to create momentum to downside. Now for specs to sell their positions especially the second momentum turns down they will be hitting those bids all the way down. More momentum now we have short positions being added on etc, etc.

So then now you should start a long yes ?

no i prefer wait .. because i know market is downward

Better talk about Short term Mid term and Long term , after 31 Jan ...

cable tested bids around the US$ 1.9545 level and was capped around the $ 1.9615 level. Technically, the pair stopped just short of testing the 23.6% retracement of the move from $1.8515 to $1.9845. Sterling withered despite a few factors that contributed to earlier intraday gains. First, Bank of England Monetary Policy Committee member Blanchflower disputed the market’s claim that he is a monetary dove and reported he is “as hawkish as anyone about keeping inflation on target.” Second, Hometrack January house prices rose at a 3 ½-year high. Third, a U.K. government survey confirmed that U.K. inflation expectations continued to rise in January. Fourth, Land Registry reported December house prices were up 0.7% m/m and 7.8% y/y. Fifth, CBI reported that 51% of retailers reported January sales volumes were higher than one year ago with 21% indicating they were lower. The net balance of +30% represents the highest since December 2004 and the balance was much stronger-than-expected. Traders will weigh today’s data along with other numbers and speculate whether or not the MPC will lift interest rates next month. Cable bids are cited around the US$ 1.9535/ 10 levels.

we could have a meltdown here

I think that safe long is after breaking 19618

Too slow all day, Cable really isn't getting any interest, so when the interest comes back I wouldn't want to bet on the direction.

yup, i think GU should be long for today

Hopefully good for 9733 over the next few days, Fingers Crossed.

Now that was nice took me right out at my mark of 9636 Money in the bank!

target 9693

Does anyone know where this move came from? I thought we would slowly hit those marks not this fast! LOL