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Cable Update (GBPUSD)

  • #9,081
  • Mar 26, 2007 6:50am Mar 26, 2007 6:50am
LONDON, Mar 26, 2007 (AP Online via COMTEX) -- The U.S. dollar rose against other major currencies in European trading Monday morning. Gold fell in London.
The euro traded at US$1.3265, down from US$1.3290 late Friday in New York.
Other dollar rates:
-118.23 Japanese yen, up from 118.05
-1.2209 Swiss francs, up from 1.2183
-1.1622 Canadian dollars, up from 1.1609
The British pound traded at US$1.9594, down from US$1.9614.
Gold traded in London at US$659.65 per troy ounce, down from US$663.60 late Friday.
In Zurich, gold traded at US$657.50, up from US$654.55.
Gold fell US$3.00 in Hong Kong to US$659.20.
Silver opened in London at US$13.19 per troy ounce, down from US$13.39.
BAM BAM BOOM! -bravado
  • #9,082
  • Mar 26, 2007 6:57am Mar 26, 2007 6:57am
Quoting TheCable
I think,that the new home sales will give us a short-term direction.
actually. this data will give quite a bit of weight to dollar direction for the rest of the week. rest of the data will serve as reactionary due to previous FOMC announcement and surprise by existing home sales.

cable can very well turn bullish before anticipated move to 9530.
BAM BAM BOOM! -bravado
  • #9,083
  • Mar 26, 2007 7:04am Mar 26, 2007 7:04am
Quoting bravado
actually. this data will give quite a bit of weight to dollar direction for the rest of the week. rest of the data will serve as reactionary due to previous FOMC announcement and surprise by existing home sales.

cable can very well turn bullish before anticipated move to 9530.
Whipsaw in the first 15M candle, 2nd candle not continuing and we've seen the bottom. That's what I'll be looking for...

Market is quite. Question is: Is big money lazy today or are they on countdown to cut the cash lose?
  • #9,084
  • Mar 26, 2007 7:06am Mar 26, 2007 7:06am
More strong housing data in the UK, (Hometrack 0.8% mom, 6.7% yoy, highest since June 2003), has underpinned the rise in bullish sentiment for the [POUND]. Interest rate expectations are still weighed in favour of no chance from the BOE in April, (only 5 of 34 economists see 25bps hike), but the run of recent data signals has at the very least revived the potential for a hike. May is an entirely different prospect with a 60% chance of a hike and around 75-80% of 25bps move to 5.5% seen in Q3. FX Players have reacted positively to the news with funds and Japanese players seen buying Cable, the Middle East Gbp/Yen. Eur/Gbp support now seen 0.6740, (385 retrace 0.6536-0.6767), shorts preferred.

This "smells like upcoming hike" is going to prevail against USD positive sentiment, I'd say (think, suggest, guess or gamble)
  • #9,085
  • Mar 26, 2007 7:13am Mar 26, 2007 7:13am
cesarnc, have you noticed any Russians around?
  • #9,086
  • Mar 26, 2007 7:32am Mar 26, 2007 7:32am
LONDON, Mar 26, 2007 (COMTEX) -- The dollar was stable against other major currencies, with focus on the release of US new home sales data later today but with rising geo-political concerns in Iran likely to limit its market impact.


The dollar has been regaining ground against the euro after Friday's strong US existing home sales data and comments by US rate setter Frederic Mishkin doubting that US inflation will go below the 2 pct level.


Attention is now on the US housing market data due out this afternoon. New home sales figures for February are expected to show a rebound later today to 995,000 units, after a 16.7 pct decline in January.


"The market impact of the data should be limited. Oil prices have risen after the UN Security Council imposed additional sanctions against Iran," said Hans Redeker at BNP Paribas.


"Tensions in the Middle East are rising again as investors fear Iran will close the Strait of Hormuz. Rising oil prices will add to economic uncertainties especially if oil prices are caused by supply concerns," he added.


Meanwhile the euro was steady after being boosted earlier by a stronger than expected French business confidence indicator. Statistics office Insee said the index rose to 109 in March from 108 in January - analysts had been forecasting it to come in at 107.
BAM BAM BOOM! -bravado
  • #9,087
  • Mar 26, 2007 7:57am Mar 26, 2007 7:57am
Quoting ssotiro
cesarnc, have you noticed any Russians around?
No... They seem to show up when I'm in an already lousy position, as to make it worse

Haven't found a price to go in yet and 40 pips are gone from 9590 area... Hoping for any dip during news to build long positions...

No doubt Cable is going up... A "not that mover" GBP-positive news tomorrow and we're making new highs, I guess...

Just got a quick scalping in UJ today to ensure the sushi for lunch.

P.S. - no guys, not drinking Sake on Monday here, thanks.
  • #9,088
  • Mar 26, 2007 8:55am Mar 26, 2007 8:55am
Crude oil jumped to the highest this year after Iran took British sailors captive and the UN imposed sanctions on the country, heightening concern supplies from the worlds' fourth-biggest oil producer will be cut.
Technical we have reversed h&s

http://www.imagefreehost.com/files/2...1410065408.gif
  • #9,089
  • Mar 26, 2007 8:57am Mar 26, 2007 8:57am
Quoting cesarnc
No... They seem to show up when I'm in an already lousy position, as to make it worse

Haven't found a price to go in yet and 40 pips are gone from 9590 area... Hoping for any dip during news to build long positions...

No doubt Cable is going up... A "not that mover" GBP-positive news tomorrow and we're making new highs, I guess...

Just got a quick scalping in UJ today to ensure the sushi for lunch.

P.S. - no guys, not drinking Sake on Monday here, thanks.
damn u cesar lol...I was short and got stopped out at 1.9640...I guess I should have cashed in during the dip earlier on this morning when I was up about 30 pips...so you think its going up? How high do you think it will reach...I really thought there was a head and shoulders forming pointing to a reversal...guess I was wrong
fall down seven times, get up eight!
  • #9,090
  • Mar 26, 2007 8:58am Mar 26, 2007 8:58am
As we all know the cad depends very much from oil price.
  • #9,091
  • Mar 26, 2007 9:03am Mar 26, 2007 9:03am
Bad figure, bad revision... Triple-seven, here we go
  • #9,092
  • Mar 26, 2007 9:06am Mar 26, 2007 9:06am
Quoting cesarnc
Bad figure, bad revision... Triple-seven, here we go
lol 1.9777?? considering the positive news tomorrow, thats not a bad projection! ps. thanks for those ebooks you sent me...they are GREEEEEEEATTTTTTTTT!!!!!!!!
fall down seven times, get up eight!
  • #9,093
  • Mar 26, 2007 9:07am Mar 26, 2007 9:07am
Quoting Adelb1985
damn u cesar lol...I was short and got stopped out at 1.9640...I guess I should have cashed in during the dip earlier on this morning when I was up about 30 pips...so you think its going up? How high do you think it will reach...I really thought there was a head and shoulders forming pointing to a reversal...guess I was wrong
I was expecting USD-positive + stop hunting in the 95s, but that's against the trend, so I didn't trade it...
I was to buy dip... Missed the opportunity and saved the cash...

too many times burning my account in that kind of trap.

And last but not least, USD news are being too damn hard to trade. forecast never matching and revisions turning it up side down...
  • #9,094
  • Mar 26, 2007 9:10am Mar 26, 2007 9:10am
Henrycarol is gonna take another challenge again.
Anyway, subwave 5 up on the rage, let's see.
Tra-X
  • #9,095
  • Mar 26, 2007 9:12am Mar 26, 2007 9:12am
9720 area is good place to sell.
BAM BAM BOOM! -bravado
  • #9,096
  • Mar 26, 2007 9:13am Mar 26, 2007 9:13am
No buyers above 9700 again??? damn it!!!!!!!!!
  • #9,097
  • Mar 26, 2007 9:16am Mar 26, 2007 9:16am
Quoting cesarnc
I was expecting USD-positive + stop hunting in the 95s, but that's against the trend, so I didn't trade it...
I was to buy dip... Missed the opportunity and saved the cash...

too many times burning my account in that kind of trap.

And last but not least, USD news are being too damn hard to trade. forecast never matching and revisions turning it up side down...
lol my account is 250 away from another wipe out...damn lol hopefully my long positions on the USD/CAD can get me back up!! I'm starting to think that I should just trade against the US since as you mentioned forecasts are rarely accurate...so much for news trading!
fall down seven times, get up eight!
  • #9,098
  • Mar 26, 2007 9:17am Mar 26, 2007 9:17am
Quoting cesarnc
No buyers above 9700 again??? damn it!!!!!!!!!
Sell maybe? no?
fall down seven times, get up eight!
  • #9,099
  • Mar 26, 2007 9:22am Mar 26, 2007 9:22am
Quoting cesarnc
No buyers above 9700 again??? damn it!!!!!!!!!
Buyers showing up....

Got a bad, bad entry price at 9695. TP 1/2 position on exhaustion....
  • #9,100
  • Mar 26, 2007 9:28am Mar 26, 2007 9:28am
If we fale to go above 1.9724 it's possible to turn around and go south til 1.9240.
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