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

THANKS MAN

flip a coin that's the direction right now.

the impact has to do with a historical discourse on the financial industry not seen since the great depression.

We all know that as president, Bush has several executive powers he is able to draw upon that overrides everything and assumes absolute control. does the US constitution also allow him to do so on economic issues?

when rumors on the bailout hit last week along with the AIG bailout, the gbp/jpy moved up like 1200 pips .. if it goes through and the market likes it, this thing will probably fly to the 200-207 range, in my opinion, if the deal fails, or the market hates it, were headed down to 182-184, again in my opinion ..

It closed @194.31 which is the red line on my 1 Hr chart so i don't think it has been broken yet.

http://i136.photobucket.com/albums/q...rofits/1hr.jpg

GP

Thanks Trader Neal & forex_newguy.

sure.

actually i think executive orders can be used for economic conditions but i'm not sure what the conditions are. also it's disputed weather executive orders are actually constitutional themself but executive powers are vaguely mentioned in the constitution.

Oil prices fell below $107 a barrel in Asia Friday on investor concern that faltering negotiations in Washington may sabotage a bailout plan to stabilize the U.S. financial system, which could drag on global growth and undermine crude demand.

Light, sweet crude for November delivery was down $1.32 to $106.70 a barrel in electronic trading on the New York Mercantile Exchange midday in Singapore. The contract rose overnight $2.29 to settle at $108.02.
"The bailout is a real focus of the market because it's seen as being quite important to the direction of the economy," said David Moore, a commodity strategist at Commonwealth Bank of Australia in Sydney.
"To the extent that the latest news suggests it's not going to be passed as quickly as markets had thought, that would have an impact on the oil price," he said.


Negotiations among congressional leaders broke down late Thursday. Democrats blamed the House Republicans for the apparent stalemate. Those conservatives have complained that the $700 billion plan would be too costly for taxpayers and would be an unacceptable federal intrusion into private business.


One group of House Republican lawmakers circulated an alternative that would put much less focus on a government takeover of failing institutions' sour assets.


Talks were to resume Friday on the effort to bail out failing financial institutions and restart the flow of credit that has begun to starve the national economy.


Earlier Thursday, U.S. President George W. Bush hosted presidential rivals John McCain and Barack Obama and top congressional leaders at the White House in a bid to show unity in resolving a national financial crisis, but it broke up with conflicts in plain view.


"The stronger the commitment to the relief program, the more positive that would be seen toward stabilizing the U.S. financials," Moore said. "As these negotiations wax and wean, it's affecting a whole range of markets."

Wave b is a direction for me.

http://www.forexfactory.com/showthre...104294&page=17

There is also the 23.6 Fib on the Daily which is in this area.

http://i136.photobucket.com/albums/q...its/236fib.jpg

GP

192 area..

Good Morning

On my chart clearly stands 190.Maybe lower

Wow, I was thinking around 192 area, but you've got me looking at this thing truly Tanking Indeed. Thanks for the analysis.

My target is 192.52 which is the 38.2 Fib for my first T/P.
The other half would be at 191 which is the 50% Fib and a good psych lvl.

One stupid fundamental and... technicals gone wild, I'm happy I stayed awake;

After all the hoopla about the bailout comes this babel in the Congress and a few irky republicans pissed off coz' they pased they sleep hour, and ruin everything;

I can't wait to see the stocks opening today. McCain and his cronies must be sweating like polar bears in a zoo...;

http://news.yahoo.com/s/ap/20080926/...ncial_meltdown

Welcome to da "dump" LOL

Just got a bottom on Hans at 193.13. No idea how it was calculated but over the last 3 months of watching it discover has a great track record.

So we might see a bit of a retracement from this area. We will see how accurate it is!

Btw... for newbies. Please do not use this advise as a trade indicator or close your shorts just from a post like this.