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

  • #160,921
  • Feb 17, 2009 3:32am Feb 17, 2009 3:32am
whats going on with GBP demand right now ?
  • #160,922
  • Feb 17, 2009 3:33am Feb 17, 2009 3:33am
100 pip spike on positive GBP news....
  • #160,923
  • Feb 17, 2009 3:34am Feb 17, 2009 3:34am
Quoting 5ysfx
whats going on with GBP demand right now ?
CPI data released at 9.30 GMT.
  • #160,924
  • Feb 17, 2009 3:50am Feb 17, 2009 3:50am
wow....

well we just hit a 61 fib retrace of the move down off the positive news...

any takers on direction?
  • #160,925
  • Feb 17, 2009 3:52am Feb 17, 2009 3:52am
Quoting cancunkev
wow....

well we just hit a 61 fib retrace of the move down off the positive news...

any takers on direction?
imho

usd/jpy in uptrend
now GBP positive news

GBP/JPY uptrend i suppose
  • #160,926
  • Feb 17, 2009 4:02am Feb 17, 2009 4:02am
where is everyone ?

finally looks like the momentum it needed to close gap ?
  • #160,927
  • Feb 17, 2009 4:05am Feb 17, 2009 4:05am
one of three things....

1. we just say the end of a bear trap

2. we are in the midst of a bull trap

3. we are in the same range we have been in since the open on Sun/Mon
  • #160,928
  • Feb 17, 2009 4:07am Feb 17, 2009 4:07am
why is it so important to close the gap?
  • #160,929
  • Feb 17, 2009 4:14am Feb 17, 2009 4:14am
Quoting dre3029
why is it so important to close the gap?
the saying goes, that if a gap is not closed within 3 days, then its confirmation in the direction of the gap.

At the moment i'm still suspicious of this sudden move up. For a good CPI result yeah there will be some initial euphoria however 200 pips is a bit excessive especially now since its some 40+ mins past the announcement. That, and also the fact, how does some inflation help the UK economy that at the moment is choking on a mountain of debt and record unemployment and layoffs. If anything it makes the situation even more untenable as consumers get squeezed both in demand and supply of money.
  • #160,930
  • Feb 17, 2009 4:14am Feb 17, 2009 4:14am
Quoting dre3029
why is it so important to close the gap?
Not "important" , but most gaps are filled ..
  • #160,931
  • Feb 17, 2009 4:14am Feb 17, 2009 4:14am
it isn't so much that it is important TO close the gap, but a majority of the time gaps ARE closed before the next big move. Some gaps take days/weeks/months to close however....
  • #160,932
  • Feb 17, 2009 4:17am Feb 17, 2009 4:17am
Long wicks on the M15 at either end of the range. GU up UJ down, GJ stuck in the middle. No direction till the range forms a wedge and is broken.
{Some Profound Statement goes here}
  • #160,933
  • Feb 17, 2009 4:20am Feb 17, 2009 4:20am
Quoting Eulogy
the saying goes, that if a gap is not closed within 3 days, then its confirmation in the direction of the gap.

At the moment i'm still suspicious of this sudden move up. For a good CPI result yeah there will be some initial euphoria however 200 pips is a bit excessive especially now since its some 40+ mins past the announcement. That, and also the fact, how does some inflation help the UK economy that at the moment is choking on a mountain of debt and record unemployment and layoffs. If anything it makes the situation even more untenable as consumers...
I'm suspicious of the move down at London open too. I think they're playing with us. Big move up during Asia followed by a mini collapse at London open. Looked to my suspicious mind like big players covering their short positions.

I do not see new lows for geppy now. In fact, I think we hit the bottom, (for this cycle), in Jan.
  • #160,934
  • Feb 17, 2009 4:55am Feb 17, 2009 4:55am
Hope you're keeping an eye on Gold
Attached Images
Money & Pain Respect the market, protect your capital, be patient
  • #160,935
  • Feb 17, 2009 4:58am Feb 17, 2009 4:58am
Quoting toyboy tramp
Hope you're keeping an eye on Gold
can u tell me what effect gold has on these pairs
  • #160,936
  • Feb 17, 2009 4:58am Feb 17, 2009 4:58am
Mornign... Here's a thought on market direction. Looks to me like it will be heading south... see attached chart.

Bren
  • #160,937
  • Feb 17, 2009 5:02am Feb 17, 2009 5:02am
Quoting sometospend
can u tell me what effect gold has on these pairs
Look at the descending wedge on the weekly, it's pointing to a couple of thousand dollars an ounce, which effectively means the collapse of the dollar, which means buy yen.
Money & Pain Respect the market, protect your capital, be patient
  • #160,938
  • Feb 17, 2009 5:06am Feb 17, 2009 5:06am
Here's the chart.

Bren
Attached Image
  • #160,939
  • Feb 17, 2009 5:10am Feb 17, 2009 5:10am
Quoting toyboy tramp
Look at the descending wedge on the weekly, it's pointing to a couple of thousand dollars an ounce, which effectively means the collapse of the dollar, which means buy yen.
do u mean this ? 1200$ area ?

hmm maybe but gold is gaining vs euro and other currencies also.
JPY is in trouble as well

note the bearish divergence
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-02-17_120901.png Size: 18 KB
  • #160,940
  • Feb 17, 2009 5:22am Feb 17, 2009 5:22am
Quoting 5ysfx
do u mean this ? 1200$ area ?

hmm maybe but gold is gaining vs euro and other currencies also.
JPY is in trouble as well

note the bearish divergence
$1200 is a good start That bearish div looks to have played out on your chart. Gold is linked to the dollar not the yen, and while JPY is in trouble, it's not the nineties for the samurai, where as the US is setting itself up for a lost decade sequel
Money & Pain Respect the market, protect your capital, be patient
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