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Cable Update (GBPUSD)

  • #7,821
  • Mar 7, 2007 6:59am Mar 7, 2007 6:59am
Quoting wep561
Dow and S&P futures trading lower on Globex this morning are looking a little bit scary. One more touch of 9300 without a break to the upside and I'm going flat just like my indicators. This thing could stay sideways until tomorrows GB interest rate statement.
Yup... Bloomberg reports "speculation reports may show that growth in the world's largest economy is cooling off."

It doesn't really matter whether or not it is cooling off. What people "believe" is what move that damn thing...
  • #7,822
  • Mar 7, 2007 7:24am Mar 7, 2007 7:24am
ADP reafirming its non-existence. Well, at least for a indicator that was suppose to forecast NFP... Another bullshit in the world of bullshits in the world of fx.

Under par US ADP hiring data, 957k vs 80k median), has served to inspire an otherwise directionless market. The softer Usd tone has seen Eur/Usd up to 1.3145, but given widespread talk of offers from here up to 1.3160, the move may be very limited, especially when considered against the overall lethargy of the market. Usd/Yen now 116.25 is also running into bids from Japanese retail and Asia and we would expect exhaustion well ahead of 116.00. 116.50 expiries to draw attention later.

Still on bad mood
  • #7,823
  • Mar 7, 2007 7:26am Mar 7, 2007 7:26am
very strange that no much impact after NFP released
  • #7,824
  • Mar 7, 2007 7:29am Mar 7, 2007 7:29am
Quoting amenlo9
very strange that no much impact after NFP released
ADP....

NFP is on Friday
  • #7,825
  • Mar 7, 2007 7:30am Mar 7, 2007 7:30am
Quoting cesarnc
Actually you shoud be SHORT at 9305 and I should be LONG at 9277

We would be making a killing here!!!!!!!!!
Yeah!!! Thats a great thought. Looks like we both had it a$$ backwards.
  • #7,826
  • Mar 7, 2007 7:31am Mar 7, 2007 7:31am
Awful how the market did not take care about this...

USDADP Nonfarm Employment Change http://www.forexfactory.com/images/m...mpact_high.gif57K
100K121K


Awful...
  • #7,827
  • Mar 7, 2007 7:34am Mar 7, 2007 7:34am
I hope Beige Book will have better impact...
  • #7,828
  • Mar 7, 2007 7:39am Mar 7, 2007 7:39am
Quoting dswk
I hope Beige Book will have better impact...
Here's what happened with last beige book

http://www.forexfactory.com/showthre...ook#post189856

We could hear a bacteria farting during this B.S.
  • #7,829
  • Mar 7, 2007 7:41am Mar 7, 2007 7:41am
Quoting cesarnc
Here's what happened with last beige book

http://www.forexfactory.com/showthre...ook#post189856

We could hear a bacteria farting during this B.S.
Thanks for info
mama
  • #7,830
  • Mar 7, 2007 7:43am Mar 7, 2007 7:43am
Quoting cesarnc
Here's what happened with last beige book

http://www.forexfactory.com/showthre...ook#post189856

We could hear a bacteria farting during this B.S.

Thx Cesarnc....
  • #7,831
  • Mar 7, 2007 7:44am Mar 7, 2007 7:44am
Quoting Mama007
Thanks for info
Sorry for language

Bad, bad mood here... "Let emotions out" they say. Yeah right.
  • #7,832
  • Mar 7, 2007 7:48am Mar 7, 2007 7:48am
Quoting cesarnc
Sorry for language

Bad, bad mood here... "Let emotions out" they say. Yeah right.

Bad moods all around, Cesarnc. If this pair doesn't get it's arse in gear and close above 1.9305 or even better 1.9310 soon so we can LONG this beast, I'm gonna go my AK and take it to the computer! Yeah...so the AK is a fake plastic one...but I think I can still use it as a club.....kind of... hmmmmm At any rate, I would like to see some movement one way or another......
Show me the PIPS!
  • #7,833
  • Mar 7, 2007 7:53am Mar 7, 2007 7:53am
If we can hold above that damn 236 fib I think that we will test the 382 this afternoon.
  • #7,834
  • Mar 7, 2007 8:03am Mar 7, 2007 8:03am
GU wants to move but GJ doesn't want to follow!!
  • #7,835
  • Mar 7, 2007 8:05am Mar 7, 2007 8:05am
Quoting wep561
GU wants to move but GJ doesn't want to follow!!
and that would be part of the problem......
Show me the PIPS!
  • #7,836
  • Mar 7, 2007 8:09am Mar 7, 2007 8:09am
Quoting wep561
If we can hold above that damn 236 fib I think that we will test the 382 this afternoon.
Looks like

US stocks good - 9350s
US stocks bad - 9190s

All after 19GMT.

There'll be a good ooportunity to trade today: the NZD rate statement, hike forecast. Said to be 90% priced in but the NZDJPY is one of the biggest loosers during the carry carnage. Due at 20:00 GMT today... Thoughts?
  • #7,837
  • Mar 7, 2007 8:33am Mar 7, 2007 8:33am
Tired of watching this nonsense. Setting my stops and going to the beach.
Long at 9305. Stop 9255. Target 9355.
Just as cesarnc said, it will be Wall Street making the calls today.
  • #7,838
  • Mar 7, 2007 8:44am Mar 7, 2007 8:44am
Quoting wep561
Tired of watching this nonsense. Setting my stops and going to the beach.
Long at 9305. Stop 9255. Target 9355.
Just as cesarnc said, it will be Wall Street making the calls today.
Talking about the devil...

[US STOCKS] The major index futs are slipping in pre-market flow amid a soft outlook for job growth and retail sales for February. Also, some investors remain cautious on buying back in before payrolls report along with lighter volume-backed rally y"day (F'n chickens!). ADP's private job index indicates a below consensus rise in payrolls while weekly same-store sales measures suggest cold weather hurt spending last month along with rising gas prices. Major retailers will report monthly same-store results on Thursday. Also, today, the Fed releases its Beige Book on economic activity around the country in prep for the late March FOMC meeting. Key for bulls now to see market stage a solid follow-thru day of buying on heavy flow over the new few days. That would point to an interim bottom and sign that big funds are putting cash back to work. The rebound y"day may reflect more short-covering than long-term buyers. (F'n chickens!)
  • #7,839
  • Mar 7, 2007 9:48am Mar 7, 2007 9:48am
There are reports of good sized stops at EURUSD 3160. I'll short at that level for a good risk/reward ratio... Iimportant resistance 3180 can hold, so 30 pips SL are good, TP 3130-3120 are possible...

Shorting Cable when Euro fails at 3160 may be a good idea too if stops can be put above 9350s....

Watching and praying right now...
  • #7,840
  • Mar 7, 2007 9:54am Mar 7, 2007 9:54am
Even the stop hunting today is crappy.....

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