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Cable Update (GBPUSD)

  • #81,601
  • Aug 12, 2008 2:23am Aug 12, 2008 2:23am
Quoting micho
now back to this question lol

i strongly think so
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,602
  • Aug 12, 2008 2:28am Aug 12, 2008 2:28am
guys next target 1.8858 as long as 1.9151 holds
now step aside
When life gives you lemons, make lemonade
  • #81,603
  • Aug 12, 2008 2:30am Aug 12, 2008 2:30am
cable finds some support in the area of the Wkly S1 pivot and 50% extension of yesterdays hi-lo pip range, making an 8966bid low just at the crossover of the asian and london/european sessions.

Upside resistance could be waiting at that 9045-65 area ahead of 9103-23, and 9133-53, on any extended pullback/recovery.

CPI/RPI data due later.

G/L all.
ex member
  • #81,604
  • Aug 12, 2008 2:30am Aug 12, 2008 2:30am
Sorry to here that Jamie really it seems anything is possible these past few weeks when there were clearly defined parameters all year up to then.


Quoting AmeriTrini
Cable just broke last yrs low, I closed my long for -650 pips. I learned my lesson, however I live to trade another day!!!!.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,605
  • Aug 12, 2008 2:41am Aug 12, 2008 2:41am
Quoting Qu|cksilver
Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?
who would believe we would hit this number again....lol
its just money
  • #81,606
  • Aug 12, 2008 2:43am Aug 12, 2008 2:43am
Quoting de123
who would believe we would hit this number again....lol
hihihiihihihihih
When life gives you lemons, make lemonade
  • #81,607
  • Aug 12, 2008 2:48am Aug 12, 2008 2:48am
I still say the news will be pound positive
Ive got some 4hr pins on Eur -Usd,Usd -Chf,and a nice hammer on Cable which closes in 12 min
Attached Image (click to enlarge)
Click to Enlarge Name: cable 4 hr hammer.gif Size: 45 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,608
  • Aug 12, 2008 2:58am Aug 12, 2008 2:58am
Quoting Bones
I still say the news will be pound positive
Ive got some 4hr pins on Eur -Usd,Usd -Chf,and a nice hammer on Cable which closes in 12 min
wats up bro
y do u think cpi would be +ve for cable ?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,609
  • Aug 12, 2008 3:03am Aug 12, 2008 3:03am
Quoting Bones
I still say the news will be pound positive
Ive got some 4hr pins on Eur -Usd,Usd -Chf,and a nice hammer on Cable which closes in 12 min
Hope so, I'm even worst than AmeriTrini. My view is that every negative data has been priced in and we'll see a small rebound... hopefully.

GL&GT to all.

Julio
  • #81,610
  • Aug 12, 2008 3:03am Aug 12, 2008 3:03am
Quoting AmeriTrini
This is crazy, I'm going to try and get some rest..................
I am sorry to here that Ameri...
I am sure you will come back stronger and better trader.
  • #81,611
  • Aug 12, 2008 3:05am Aug 12, 2008 3:05am
Quoting salah k.
wats up bro
y do u think cpi would be +ve for cable ?
Sorry sal Whats be+ve?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,612
  • Aug 12, 2008 3:06am Aug 12, 2008 3:06am
I do see a possible retrace where I will sell,im in long here though tight SL
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,613
  • Aug 12, 2008 3:08am Aug 12, 2008 3:08am
Quoting Bones
Sorry sal Whats be+ve?
oh sorry man i meant positive by it
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,614
  • Aug 12, 2008 3:10am Aug 12, 2008 3:10am
Quoting JgrB
Hope so, I'm even worst than AmeriTrini. My view is that every negative data has been priced in and we'll see a small rebound... hopefully.

GL&GT to all.

Julio
GBPhttp://www.forexfactory.com/images/m...mpact_high.gifCPI y/y
http://www.forexfactory.com/images/m...etail_star.gif
4.1%3.8%

actually positive data is priced in and hence the strong rebound now
so if cpi comes in weak u will see another strong selloff
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,615
  • Aug 12, 2008 3:13am Aug 12, 2008 3:13am
100 pips up from the low 1.8968
  • #81,616
  • Aug 12, 2008 3:13am Aug 12, 2008 3:13am
well its yearly inflation figures so I would Imagen they will be on the high side,what do you reckon?


Quoting salah k.
oh sorry man i meant positive by it
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,617
  • Aug 12, 2008 3:14am Aug 12, 2008 3:14am
Quoting salah k.
i have to disagree because oil and gold selloff was caused by dollar strength and not the other way around plus USA showed some really good numbers while europe is in bad shape(USA 6 months ago) and trichet's famoius speech and his mistake of raising rates this year.
You my be right but some analists disagree. Below some exstraxts from a financial report I got this morning.

""Oil prices rose for many reasons. Pure demand was one reason, as more and more people used less and less energy-efficient cars, more people took flights, more industries were set up, more goods were made, etc.

Supply was another, as low oil prices meant that oil companies didn't invest in finding more. That means it takes a while to catch up by the time prices have shot up far enough to encourage new investment.""
.........

""But the idea that central banks even care about inflation is a farce. The European Central Bank puts up the best front of all the major central banks, but none of them is serious about fighting inflation.

For example, by holding the base interest rate at 5%, while inflation keeps rising, the Bank of England has been allowing real interest rates to fall for months now. If Consumer Price Index inflation hits 5% as many analysts believe it will by the end of the year, we’ll have our very own zero interest rate policy here in the UK.

Meanwhile, in the States, the Federal Reserve has already slashed nominal interest rates to 2%, which means that real interest rates have been negative for some time (headline annual CPI inflation in the US is standing at 5%). So central banks have been doing as much as they can to loosen monetary policy – yet it hasn’t helped matters.

The fact is that the oil price is falling because demand has slumped. As Forbes puts it, falling oil prices “suggest that the recession the US has so far avoided is well on its way, as consumers pull back from the spending spree that drove economic growth earlier this decade. A weakening economy will mean more layoffs, further pressuring already reduced spending.”""

But what ever the reason is, I dont think we have seen the bottom yet!!
  • #81,618
  • Aug 12, 2008 3:16am Aug 12, 2008 3:16am
Quoting Bones
well its yearly inflation figures so I would Imagen they will be on the high side,what do you reckon?

i dont know but im sure monthly should be less because of the fall in commodity prices
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,619
  • Aug 12, 2008 3:22am Aug 12, 2008 3:22am
Quoting Runway Trade
You my be right but some analists disagree. Below some exstraxts from a financial report I got this morning.

""Oil prices rose for many reasons. Pure demand was one reason, as more and more people used less and less energy-efficient cars, more people took flights, more industries were set up, more goods were made, etc.

Supply was another, as low oil prices meant that oil companies didn't invest in finding more. That means it takes a while to catch up by the time prices have shot up far enough to encourage new investment.""
.........

""But the idea that central banks even care about inflation is a farce. The European Central Bank puts up the best front of all the major central banks, but none of them is serious about fighting inflation.

For example, by holding the base interest rate at 5%, while inflation keeps rising, the Bank of England has been allowing real interest rates to fall for months now. If Consumer Price Index inflation hits 5% as many analysts believe it will by the end of the year, we’ll have our very own zero interest rate policy here in the UK.

Meanwhile, in the States, the Federal Reserve has already slashed nominal interest rates to 2%, which means that real interest rates have been negative for some time (headline annual CPI inflation in the US is standing at 5%). So central banks have been doing as much as they can to loosen monetary policy – yet it hasn’t helped matters.

The fact is that the oil price is falling because demand has slumped. As Forbes puts it, falling oil prices “suggest that the recession the US has so far avoided is well on its way, as consumers pull back from the spending spree that drove economic growth earlier this decade. A weakening economy will mean more layoffs, further pressuring already reduced spending.”""

But what ever the reason is, I dont think we have seen the bottom yet!!
yes u are right actually thats y oil dropped 9$ in one day but from the US oil inventoies we saw that oil demand wasnt dropping at least not by the percentage tey thought it would

and we saw great economical numbers not to mention that we have good gdp from USA eventhought its in a real toug recession and actually it was going through stagflation
which makes u think how resilient the US economy is and trichet was the final shot at killing eurzone currencies with his speech
i mean i really think he didnt know wat he was doing
now they will face the same situation benny was facing in nov 07 lets see if they are better

wat i mean is yes oil fell and triggered dollar buy back but this dollar strength is a much larger issue than the oil/dollar relation
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,620
  • Aug 12, 2008 3:24am Aug 12, 2008 3:24am
Quoting salah k.
i have to disagree because oil and gold selloff was caused by dollar strength and not the other way around plus USA showed some really good numbers while europe is in bad shape(USA 6 months ago) and trichet's famoius speech and his mistake of raising rates this year.
i think it the otherway round bro..oil on monthly like tone showe us had a BEOB (BEARISH OUTSIDE BAR).it was oil droping that aded strength to dollar not quite the other way round...oil is a very powerfull comodity.

if i am wrong in this please feel freee to correct me ...

salah how are u brother
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