Auslanco - GBP/JPY and GBP/USD (newstrade)

Let's see how it closes, pins is at confluence level of s/r, fibs, and historically pretty reliable on G/J.

Oil @ 3 month low, $119, lower channel @ $110
Gold @ 877, probably going for support 863
USD index @ 73.9, resistance now at 75
Cable looks like its going for 1.94 support
Euro through 1.54 might gun for 1.53

Fundies & technicals indicate dollar rally could continue, esp if commodities keep sliding and it is in fact a central bank co-ordinated manipulation to bring the dollar up. Lower oil good for yen too though.

U/J & G/J certainly haven't moved too much so far, and that pin says North if it closes and confirms, fair bit of resistance above it though. I'm waiting for tomorrow's confirmation to enter long.

I wanna hear that Us economy is expanding and no more stress in the markets

i see a very powerful trend line in the way of the down trend. what do you think ? how much room do you think there is?

Release Date: August 5, 2008
For immediate release

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.
Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing contraction, and elevated energy prices are likely to weigh on economic growth over the next few quarters. Over time, the substantial easing of monetary policy, combined with ongoing measures to foster market liquidity, should help to promote moderate economic growth.
Inflation has been high, spurred by the earlier increases in the prices of energy and some other commodities, and some indicators of inflation expectations have been elevated. The Committee expects inflation to moderate later this year and next year, but the inflation outlook remains highly uncertain.
Although downside risks to growth remain, the upside risks to inflation are also of significant concern to the Committee. The Committee will continue to monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Elizabeth A. Duke; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh. Voting against was Richard W. Fisher, who preferred an increase in the target for the federal funds rate at this meeting.
2008 Monetary Policy Releases

Hmmmmmmm -

What's up bro - How are u today???? -

Good time to short UJ? Q what do you think. 15 and 30 lining up

Yep, already positioned and in profit on this short. . . Might now go down that far so i'm loaded heavy looking for smaller pips to capture. . . (30-50-75 pip range)

I'm waiting for 212.00 and 212.50 area and then look for my confirmation to short.

Common EURO move your ass up! sorry wrong thread but have to

did u take the GJ long????? Got that one from 210.75 from this a.m. - out of it, took profit just before the announcement. . .

Looking to get back in if it falls a bit otherwise other good trades out there.

Try 213/213.30's. . .

Chart? I don't see how that's going to be that far.

EDIT: We passed support at 212. How is price going to come back that far?

EU will touch 1.5420/30's and lower (1.5399 area) shortly so it's been a sell on any rallies, the same with GU, these two pairs are headed for the crapper. . . Wouldn't try longing them as they have broken thru some significant support and look to continue south my friend. . .

with gas prices falling and $ strength, EU/GU will be short trades for me until I see them get back above significant support - EASY $$$$$!

yup..i agree

Agreed however I am thinking maybe it will take a shot at 15550 region before takig a dive again just so that big player can short it at a higher level and do some stop hunting before the EU decision.

I have to say it's is little bit strange for me to hear this from you and Q.

Q said GJ is OverSold. I see that trend line on daily chart too and I know it is a tough sup but sitting on a trend line doesn't mean to me it is OS.

I said that based on indicators like Stochastic and CCI. It has plenty of room to go down as a matter of not being OverSold because I see CCI is leaving level 100 to the down side after such a clear bearish divergence.

In fact it is exiting Overbought area to start it journey down as shown on daily chart.


JMVHO

If we close above 1.5481 then we may have a chance but if not then down we go to hell to atleast 1.5310 area

G/J on weekly chart hit 31,8% fibo and going south to lowest low again. On daily we need to break 210,3x to change bull trend in to bear trend. It's my simple two cents.

Dear,
why EU will go 1.5420??????????