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

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

#153,981
Jan 19, 2009 7:04pm Jan 19, 2009 7:04pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

Hi Piters,

I realized that my TL needed updating..The PA near the 129 zone was crazy..

I draw the TL again and found 127.40 area as the bottom for now...(based on the red LTL...

Here I go again...

IMHO

Quoting Piters

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128.50 IMHO, I posted yesterday

http://www.forexfactory.com/showpost...5&postcount=73

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#153,982
Jan 19, 2009 7:08pm Jan 19, 2009 7:08pm

Piters
Joined Sep 2006 | Status: Collector | 9,833 Posts

Quoting rgitt05

Disliked

Hi Piters,

I realized that my TL needed updating..The PA near the 129 zone was crazy..

I draw the TL again and found 127.40 area as the bottom for now...(based on the red LTL...

Here I go again...

Ignored

Much better bro..

[lol more pips for us

]

p.s. I am adjusting my charts as well now, and get ready for London

#153,983
Jan 19, 2009 7:13pm Jan 19, 2009 7:13pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

I am getting greedy again.. At least 200 more pips before retracement please..

Quoting Piters

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Much better bro..

[lol more pips for us ]

p.s. I am adjusting my charts as well now, and get ready for London

Ignored

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#153,984
Jan 19, 2009 7:17pm Jan 19, 2009 7:17pm

Piters
Joined Sep 2006 | Status: Collector | 9,833 Posts

Quoting rgitt05

Disliked

I am getting greedy again.. At least 200 more pips before retracement please..

Ignored

I'll do it for you bro, have to call my broker and sell few yards..

gimme 30min

so, 126.50 is it OK for you ???

#153,985
Jan 19, 2009 7:25pm Jan 19, 2009 7:25pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

Funny Piters

Look at the monthly GU..

It is approaching the GU lows in 1.39 area...This might pull GJ down fast and furious....

Quoting Piters

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I'll do it for you bro, have to call my broker and sell few yeards..

gimme 30min

so, 126.50 is it OK for you ???

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#153,986
Jan 19, 2009 7:27pm Jan 19, 2009 7:27pm

cvcamper
| Joined Nov 2008 | Status: will stent your heart for pips | 559 Posts

Damn, when this baby rebounds... BOING!!!!!!!

Dr. C

#153,987
Jan 19, 2009 7:35pm Jan 19, 2009 7:35pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

I need my glasses

... I can't believe I missed that LTL at 126.60

I need some rest..See you in London time

Thanks for the correction Piters

Quoting Piters

Disliked

I'll do it for you bro, have to call my broker and sell few yards..

gimme 30min

so, 126.50 is it OK for you ???

Ignored

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#153,988
Jan 19, 2009 7:44pm Jan 19, 2009 7:44pm

Piters
Joined Sep 2006 | Status: Collector | 9,833 Posts

Quoting rgitt05

Disliked

I need my glasses ... I can't believe I missed that LTL at 126.60

I need some rest..See you in London time

Thanks for the correction Piters

Ignored

lol, take a rest bro.. you can make your millions even tomorrow

#153,989
Jan 19, 2009 7:45pm Jan 19, 2009 7:45pm

markam
Joined Nov 2006 | Status: Trader | 3,112 Posts

Quoting cvcamper

Disliked

Damn, when this baby rebounds... BOING!!!!!!!

Ignored

I wouldn't count on that. GU is probably heading down to break its historic low (1.0463 in 1985) at some point this year. UJ may not drop, and may even rebound some, but I don't expect any significant rebound in GJ for the forseeable future.

Like I have been saying for the last 1.5 years, England is absolutely and completely doomed. It is on the bottom of the list of first world countries you want to be in in the next five years.

#153,990
Jan 19, 2009 7:53pm Jan 19, 2009 7:53pm

grashid
| Commercial User | Joined Oct 2008 | 5,712 Posts

Quoting grashid

Disliked

Just waiting my Buy limit at 129 area to be on @4X50lot lol..

Ignored

Haiya..So easy pips lol this week for GPY.....Just take a rest of my 4 lot buy limit which already kick the ball.....then I'll come back for trade on next Monday..

...Enough for this Q1'09 Target....

#153,991
Edited 8:13pm Jan 19, 2009 7:56pm | Edited 8:13pm

dreed
| Joined Dec 2007 | Status: Trader | 861 Posts

Quoting rgitt05

Disliked

If you look at the three daily candles forming the bottom at 129.00 level, you would think it might be the bottom or support...The record low is at 128.81..The trend is down but the RSX and MACD is trending upward..I think we are due for a retracement..

The market is consolidating and I believe with Obama inauguration tomorrow, we may have a rally just for the change of presidency...Eventhough the past economics news are bad, I believe with the bailout package Obama have in place will be the catalyst for a fast retracement...

So far the Daily...

Ignored

Good Analysis.....Exactly how high do you think GBP/JPY will go in regards to the Obama inauguration impact you mentioned?

#153,992
Jan 19, 2009 8:08pm Jan 19, 2009 8:08pm

pipsbull
Joined Sep 2008 | Status: happy | 735 Posts

heh, the bears are still enjoing the party...

#153,993
Jan 19, 2009 8:12pm Jan 19, 2009 8:12pm

gadawg
| Joined May 2008 | Status: Trader | 152 Posts

Quoting markam

Disliked

I wouldn't count on that. GU is probably heading down to break its historic low (1.0463 in 1985) at some point this year. UJ may not drop, and may even rebound some, but I don't expect any significant rebound in GJ for the forseeable future.

Like I have been saying for the last 1.5 years, England is absolutely and completely doomed. It is on the bottom of the list of first world countries you want to be in in the next five years.

Ignored

when you look at a beer do you see it as half full or half empty !!!!

#153,994
Jan 19, 2009 8:16pm Jan 19, 2009 8:16pm

pipsbull
Joined Sep 2008 | Status: happy | 735 Posts

Quoting pipsbull

Disliked

heh, the bears are still enjoing the party...

Ignored

Slowed down for a little bit and haven't met sellers yet. When it stays for more may see a retracement to 5min 50ema. if it will come on a good volume should breach it, as it looks like it hasnt been there for ever, and continue to the first retr fib, and from there will see if it will continue where...

#153,995
Jan 19, 2009 8:20pm Jan 19, 2009 8:20pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

http://www.forexfactory.com/news.php?do=news&id=146747
Euro and Pound Reverse Earlier Gains…More Weakness Ahead?
by Lena Manousarides

Market Analyst of Spikecharts

This week starts with the US markets closed today due to a national holiday, however the market saw the euro and pound gain during the Asian session, but by the time the European opened, these gains were reversed. The news of the first US bank in 2009 to fail hit the wires earlier, stating that yet another bank failed in the US making it the first failure for 2009, put further pressure on market participants and risk aversion may come back today as a result.

The EUR/USD opened with a gap of more than 80 points on the upside; however the move so far has found resistance at 1.3385. A clear break of that level may lead to further gains towards 1.35, however at the moment things are starting to look gloomy for the European currency and thin trading conditions later may make things less volatile! The pair now trades below 1.33 and a clear break of 1.3250 may open a further way towards 1.32.

The economic calendar is almost empty of important events today and the fact that US markets will remain closed may slow things even further. The big news today cones from the UK and therefore puts further pressure in the pound, as the Royal Bank of Scotland announced that its loses may reach 28 million pounds, the biggest in UK history! That together with Darling's latest plan to “save” UK banks from failing by adding another 149 billion pounds to the system gave investors a new wave of uncertainty for the future of the economy and more reasons for the pound to plunge!

This week, although not packed with important economic releases out of the US, may turn out to be crucial for the dollar's direction amid tomorrow's inauguration of President Barack Obama. Analysts predict that the new President may enjoy a rally in the markets after his swearing-in, as traders may look up to Obama for hope of a better economic tomorrow. However, with banks reporting losses almost daily and economic data deteriorating at a fast pace, together with Bernanke’s new stimulus plans which left markets cold, investors may choose to exit their risky positions once again and find consolidation in the dollar!

So, get ready for another interesting week for all markets out there, and watch the pound's direction these days as important economic data is coming out almost daily, together with the minutes of the last monetary policy decision! The question now is not if the bank decides to actually adopt a zero policy rate in the coming months but how it will handle the aftermath of deflation. The economic outlook for the pound continues to look gloomy and another sell off in the GBP/USD may be on the cards for the coming weeks…
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Quoting markam

Disliked

I wouldn't count on that. GU is probably heading down to break its historic low (1.0463 in 1985) at some point this year. UJ may not drop, and may even rebound some, but I don't expect any significant rebound in GJ for the forseeable future.

Like I have been saying for the last 1.5 years, England is absolutely and completely doomed. It is on the bottom of the list of first world countries you want to be in in the next five years.

Ignored

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