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Daily Cable Analysis

  • #6,381
  • Feb 17, 2007 2:38pm Feb 17, 2007 2:38pm
Quoting mosheber
in 4h chart there is lower highs in price but in the rsi we have higer tops.this divergence indicates long.

therefore, i expect a bullish move in the coming days.
Very informative Chart, and I agree with your assesment of a Bullish week ahead.

My projection is a upward move from 1.9450 area to the 1.9735-47 area, then a drop down for support at 1.9550/80 area for a nice shot upwards into the 1.9800 area once again.

This may not all happen this week, but for the next several weeks, we should see an increase in the highs, and also the lows rising higher each time.

The lowest I see right now would be 1.9380/9400 possibly if the market reacts having the US on a Holiday.
  • #6,382
  • Feb 18, 2007 5:08am Feb 18, 2007 5:08am
Buying the £ this week with a foreseeable target of 1.9800.
  • #6,383
  • Edited 7:00am Feb 18, 2007 6:50am | Edited 7:00am
Quoting mosheber
in 4h chart there is lower highs in price but in the rsi we have higer tops.this divergence indicates long.

therefore, i expect a bullish move in the coming days.
MACD also confirms the divergence/imminent reversal if 9450 holds water, .........otherwise its way down to 923. (161fibbo)
Only unfolding of next week'll tell
  • #6,384
  • Feb 18, 2007 7:06am Feb 18, 2007 7:06am
Does anyone here think that there may be a probabilty of both the gbp/usd and usd/chf trending up this week?

I usually hedge one against the other but the gbp has not played well with others over the past few days. In hindsight should have used the eur/usd instead.
  • #6,385
  • Feb 18, 2007 7:29am Feb 18, 2007 7:29am
i think this week will be very important for all GBP crosses....

what do you think about?
  • #6,386
  • Feb 18, 2007 8:33am Feb 18, 2007 8:33am
yes they will both go up........

Quoting fxgrm
Does anyone here think that there may be a probabilty of both the gbp/usd and usd/chf trending up this week?

I usually hedge one against the other but the gbp has not played well with others over the past few days. In hindsight should have used the eur/usd instead.
  • #6,387
  • Feb 18, 2007 9:12am Feb 18, 2007 9:12am
I sure hope you are right. I am way upside down in this trade. Can you elaborate on why you think they will both be heading up soon? Fundamentals, Techinicals, both, flipping a coin?

Thanks
  • #6,388
  • Feb 18, 2007 9:29am Feb 18, 2007 9:29am
Quoting fxgrm
I sure hope you are right. I am way upside down in this trade. Can you elaborate on why you think they will both be heading up soon? Fundamentals, Techinicals, both, flipping a coin?

Thanks
flipping that coin has always worked for me. Just going by technicals, price action, thats all there is to it.
I dream, therefore I become.
  • #6,389
  • Feb 18, 2007 9:42am Feb 18, 2007 9:42am
Send me your email via private message here at Forex factory and I will send you an invite to the webinar where you can see first hand real time. Just like a seminar only on the web. You will see my charts and how to measure along with how I use my techincals.... YOu will see my actual desktop of my computer in real time.....


Quoting fxgrm
I sure hope you are right. I am way upside down in this trade. Can you elaborate on why you think they will both be heading up soon? Fundamentals, Techinicals, both, flipping a coin?

Thanks
  • #6,390
  • Feb 18, 2007 2:47pm Feb 18, 2007 2:47pm
http://safehaven.com/article-6924.htm
Not sure if anyone else has posted this or if its in the right place. Anyhow buying on the dips may have some good returns while the BOE looks to lift to 5.5%.
  • #6,391
  • Feb 18, 2007 5:00pm Feb 18, 2007 5:00pm
Quoting monarch
Very informative Chart, and I agree with your assesment of a Bullish week ahead.
Quoting monarch

My projection is a upward move from 1.9450 area to the 1.9735-47 area, then a drop down for support at 1.9550/80 area for a nice shot upwards into the 1.9800 area once again.

This may not all happen this week, but for the next several weeks, we should see an increase in the highs, and also the lows rising higher each time.

The lowest I see right now would be 1.9380/9400 possibly if the market reacts having the US on a Holiday.
The market opened with a move upward to 1.9564, showing its future hand in the next support area.

1.9565-80 is my expected support area once price moves up to 1.9735-47 during this weeks movement.

My expectation is the eventual move up to 1.9800 area after a bounce from the 1.9565-80 that will play a major support as my recent posted chart showed in post 6375 and 6377.
  • #6,392
  • Feb 18, 2007 5:08pm Feb 18, 2007 5:08pm
The hourly just closed at 1.9541, this was 1 pip higher than Fridays daily candle high of 1.9540.

1.9540 is the 50% fibo line for the movement up from 2/13/07 to 2/15/07.
  • #6,393
  • Feb 18, 2007 5:11pm Feb 18, 2007 5:11pm
Cable still looks like it's rolling over. It looks like it's about to form the right shoulder of a head and shoulders top. If it can't get past 1.9850 then that could be a long term top which is followed by a long down trend back into the 1.80s. Of course you should trade what you see not what you think so it'll be interesting to see how it reacts if it pushes higher. This is all just looking at "the big picture". There will be many trades that can be taken along the way.
  • #6,394
  • Feb 18, 2007 5:12pm Feb 18, 2007 5:12pm
grabbed a short 1.9542
  • #6,395
  • Feb 18, 2007 5:20pm Feb 18, 2007 5:20pm
I need to see a break above 1.9568 for a upmove maybe in London
  • #6,396
  • Feb 18, 2007 5:25pm Feb 18, 2007 5:25pm
Every Market open that leaves a gap in price from the open price on Friday to the open price on Sunday usually returns back to fill the gap.

Todays gap:
Daily Candle
Friday open price was 1.9509
Market Open Today at 1.9541

I expect a return back to test the 1.9509 gap area, I have no entry while the market is not completely open and US has a Holiday Monday.

I do have a Entry Waiting at 1.9465 for the second test of Fridays Low.

From there I have a Long set for the move up to the 1.9735-47 area.
  • #6,397
  • Feb 18, 2007 5:28pm Feb 18, 2007 5:28pm
Quoting monarch
I have no entry while the market is not completely open and US in has a Holiday Monday.
Some of the biggest moves happen while the US is on holiday - sneaky 200 pip stop running moves.
  • #6,398
  • Edited 5:55pm Feb 18, 2007 5:53pm | Edited 5:55pm
Quoting vlazaf
Buying the £ this week with a foreseeable target of 1.9800.
Extended targets of 1.9730 and 1.9800.

Anyone else looking at something similar?
Attached Image
  • #6,399
  • Feb 18, 2007 5:56pm Feb 18, 2007 5:56pm
Exactly similar, I think that after it retraces to 1.9509 to test the support it's going to make a large move up hopefully all in this week.
I dream, therefore I become.
  • #6,400
  • Feb 18, 2007 5:58pm Feb 18, 2007 5:58pm
1.9375 anyone?
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