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Cable Update (GBPUSD)

  • #9,321
  • Mar 28, 2007 8:01am Mar 28, 2007 8:01am
Quoting TheCable
We need a weak Dow Jones to see dollar rising.No one can afford to loose from weak dollar and weak Dow Jones,so if Dow Jones goes south dollar will start to rise.
GL GT
All stocks are down today. US futures down already. If an attracting bottom is seen, NYSE will recover fast.

But if Iran concerns picks up in NYSE, I'll short carries.
  • #9,322
  • Mar 28, 2007 8:09am Mar 28, 2007 8:09am
I am placing buy order 30k usd/jpy 117.39.If we go above 117.39 we will continiue til 118
  • #9,323
  • Mar 28, 2007 8:19am Mar 28, 2007 8:19am
Quoting TheCable
I am placing buy order 30k usd/jpy 117.39.If we go above 117.39 we will continiue til 118
Before Bernanke's testimony?

Do you love risk?
  • #9,324
  • Mar 28, 2007 8:23am Mar 28, 2007 8:23am
Quoting pablorpl
Before Bernanke's testimony?

Do you love risk?
What time is the testimony ?
  • #9,325
  • Mar 28, 2007 8:24am Mar 28, 2007 8:24am
Quoting pablorpl
Before Bernanke's testimony?

Do you love risk?
Last time Bernanke opened his stinking mouth, he tried to "change FED's bias" and not a single investor in the world got what he meant for 2 DAYS.

Everybody is dying to see what's coming up today.... Wide SL across the board is advised.
  • #9,326
  • Mar 28, 2007 8:27am Mar 28, 2007 8:27am
Quoting cesarnc
Last time Bernanke opened his stinking mouth, he tried to "change FED's bias" and not a single investor in the world got what he meant for 2 DAYS.

Everybody is dying to see what's coming up today.... Wide SL across the board is advised.
So... What do you think?

Long or short in Cable?
  • #9,327
  • Mar 28, 2007 8:32am Mar 28, 2007 8:32am
Quoting pablorpl
So... What do you think?

Long or short in Cable?
I got myself several lousy long entries in Cable early this week at high 96s. But with this ranging market I'm managing to buy dips to B/E with loosing trades, targeting zero my position ASAP.

In the lack of definition to the downside, I'm buying dips for quick pips between 9600 - 9700, at least to be in the direction of the last trend we were in.

My trades are now focusing JPY crosses only.
  • #9,328
  • Mar 28, 2007 8:40am Mar 28, 2007 8:40am
cesar, What do you think about this?:

Quoting FXtoday
Fed Chairman Bernanke's testimony will set the tone for the remainder of Wednesday and he is likely to take a cautiously optimistic stance over the US economy.

An aggressive strategy only is to sell GBP/USD at 1.9665 for 1.9620.
  • #9,329
  • Mar 28, 2007 8:47am Mar 28, 2007 8:47am
Quoting pablorpl
cesar, What do you think about this:
Market wants to know about sub-prime sector and a few other informations to make up its mind about this so called "soft landing" in the US economy.

Even an "optimistc stance" now suggesting enomomy to pick up steam back in months will be dollar negative.

The overall sentiment is dollar negative, either by US bad readings or Iran concerns.

I still see value in buying dips instead of scalping dollar longs.

Not adding 1/2 a microlot from 9670 to 9726 until clear a safe break
  • #9,330
  • Mar 28, 2007 8:59am Mar 28, 2007 8:59am
it is possible that USD negative outcome from bernanke to favor Yen crosses down, rather than majors /USD up.... Risk aversion back in town with this Iran crap / oil up / war games /

This happened before here... Cable stalls, Yen crosses sink.
  • #9,331
  • Mar 28, 2007 9:01am Mar 28, 2007 9:01am
Quoting cesarnc
it is possible that USD negative outcome from bernanke to favor Yen crosses down, rather than majors /USD up.... Risk aversion back in town with this Iran crap / oil up / war games /

This happened before here... Cable stalls, Yen crosses sink.
Happening right now, BTW
  • #9,332
  • Mar 28, 2007 9:16am Mar 28, 2007 9:16am
Quoting cesarnc
Happening right now, BTW
Yep 9:30 set up a very ST sell in cable and GBPJPY.....a clearer signal on JPY with a failure at the same level 22 mins earlier AND held again by its 1 min 200EMA. Cable dropped 20 pips, GBPJPY 60.....nicer trade, even with the spread. I´d better start trading the GJ too!
Trading Levels with WRBs
  • #9,333
  • Mar 28, 2007 9:24am Mar 28, 2007 9:24am
Just be patient; cable might be packing strength to fart another tomahawk again.
Tra-X
  • #9,334
  • Mar 28, 2007 9:35am Mar 28, 2007 9:35am
Quoting Traex
Just be patient; cable might be packing strength to fart another tomahawk again.
LOL...just as long as I can keep in front of it I´ll be happy....getting shafted by a tomahawk is not high on my wish list
Trading Levels with WRBs
  • #9,335
  • Mar 28, 2007 9:40am Mar 28, 2007 9:40am
Quoting cesarnc
it is possible that USD negative outcome from bernanke to favor Yen crosses down, rather than majors /USD up.... Risk aversion back in town with this Iran crap / oil up / war games /

This happened before here... Cable stalls, Yen crosses sink.
This was how market is reacting so far...

Just made 60 pips GJ and 30 UJ. while Cable stalls...

Risk aversion leading to carry unwinding so far.

Didn't receive anything on Bernanke yet.
  • #9,336
  • Mar 28, 2007 9:43am Mar 28, 2007 9:43am
[BERNANKE SAYS] the Fed's current stance is the right one to support growth and maintain price stability. His broad description of the economy is very similar to those heard from Fed officials for the past several months. The economy will grow moderately, inflation is likely to moderate from its uncomfortably high current pace, though there are upside risks. Inflation expectations are contained, productivity growth has slowed, but remains favorable. On to more recent points, he says the impact of subprime lending troubles ought to be contained and that investment is slow, but is likely to grow moderately.

[WHAT"S NEW FROM BERNANKE] Though most of his prepared text is very much like his own and other Fed officials" previous comments, Bernanke does recognized that uncertainties in the economic outlook have increased in recent weeks. That is the genesis of the change in language in the latest FOMC statement. While asserting once again that troubles in housing and manufacturing have not spilled over to the wider economy, Bernanke acknowledges that business spending is slower than would normally be expected at this point in the cycle. Bernanke says growth appears to be around 2% in the early part of this year. (We have seen downward revisions to Q1 GDP forecasts to closer to 1.0%-1.5%, in line with our own, in the wake of today's durable goods report.)
  • #9,337
  • Mar 28, 2007 9:45am Mar 28, 2007 9:45am
Hi Guys,

Can't help but notice the similarity to this time last year - stuck in a 300 pip range. We then had a 1500 pip breakout to the upside, can we hope, prey and beg for a similar move this year. It would take us up to 2.1200 - which sounds about right to me! Cable is perhaps being held back over the soldier issue, once that is resolved, as I'm sure it will be, it could be hold on to your pants time. I could of course be talking a load of old baloney!

BTD
I've got my pips - go get yours!
  • #9,338
  • Mar 28, 2007 9:48am Mar 28, 2007 9:48am
Quoting BackTestDummy
Hi Guys,

Can't help but notice the similarity to this time last year - stuck in a 300 pip range. We then had a 1500 pip breakout to the upside, can we hope, prey and beg for a similar move this year. It would take us up to 2.1200 - which sounds about right to me! Cable is perhaps being held back over the soldier issue, once that is resolved, as I'm sure it will be, it could be hold on to your pants time. I could of course be talking a load of old baloney!
BTD
Not at all... Breakout up majors/USD expected for the second after the release.
  • #9,339
  • Mar 28, 2007 9:50am Mar 28, 2007 9:50am
TREASURY PAULSON SEES SIGNS US HOUSING MARKET AT OR OR NEAR BOTTOM
- reiterates it looks like subprime problems will be contained
  • #9,340
  • Mar 28, 2007 9:51am Mar 28, 2007 9:51am
EIA'S CARUSO: SAYS US HAS SUBSTANTIAL EMERGENCY SUPPLY TO ACCOMODATE ANY DISRUPTION IN GULF OIL SHIPPING
- Says no need to panic over Gulf oil shipping disruption
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