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Cable Update (GBPUSD)

  • #128,241
  • Mar 27, 2009 4:28am Mar 27, 2009 4:28am
Quoting laharjaya
1.4390 already break

can we assume that gu will go to 1.42

Try not to assume because it makes an ASS of U and ME.

Look for a retest of the neckline (1.4390) to see if it holds and news in 3 minutes could put a bit a move on the prices.

If it holds, then it does look like 1.42 could most definitely be in the cards.
  • #128,242
  • Mar 27, 2009 4:28am Mar 27, 2009 4:28am
News coming through now
  • #128,243
  • Mar 27, 2009 4:36am Mar 27, 2009 4:36am
Quoting PipLand
Morning Navin, I really hope we get a pin on the 1hr need this to go up so i can slap some shorts on!
morning m8....no pin....damnit
  • #128,244
  • Mar 27, 2009 4:36am Mar 27, 2009 4:36am
Quoting laharjaya
1.4390 already break

can we assume that gu will go to 1.42
I've already hit my target of 1.4455 +117 pips.... its close to the 32.8% on the daily retracement too, hopefully its storng enough for a bounce. Think i'll wait for it to retrace before shorting again.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,245
  • Mar 27, 2009 4:37am Mar 27, 2009 4:37am
damn it! touched my s l then mov e down
  • #128,246
  • Mar 27, 2009 4:41am Mar 27, 2009 4:41am
Quoting nAVIN2007
morning m8....no pin....damnit
oh well, will just kick back, relax and wait for a bounce, might be waiting a long time after that news though
  • #128,247
  • Mar 27, 2009 4:49am Mar 27, 2009 4:49am
Quoting Bull_Bear
I've already hit my target of 1.4455 +117 pips....

just curious as to why you ended a good trade that early? and the reasoning behind it if you dont mind?
  • #128,248
  • Mar 27, 2009 4:49am Mar 27, 2009 4:49am
Thats me done...its freaky friday after all. +110.

A great weekend to all
  • #128,249
  • Mar 27, 2009 4:55am Mar 27, 2009 4:55am
Quoting NwFXenthsist
just curious as to why you ended a good trade that early? and the reasoning behind it if you dont mind?
It was my original target when i made the call earlier at 1.4672. I didn't readjust it to accommodate for the H&S. Don't worry be happy....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,250
  • Mar 27, 2009 4:56am Mar 27, 2009 4:56am
Quoting riggster
Thats me done...its freaky friday after all. +110.

A great weekend to all
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
Patience is the keyword here...
  • #128,251
  • Mar 27, 2009 5:02am Mar 27, 2009 5:02am
Hmm I wonder how much more she has in her on the downside.
  • #128,252
  • Mar 27, 2009 5:06am Mar 27, 2009 5:06am
Quoting Bull_Bear
It was my original target when i made the call earlier at 1.4672. I didn't readjust it to accommodate for the H&S. Don't worry be happy....

aite cool, thanks it was def a good trade i wasnt sure if you were just randomly taking profit or if it was strategic. nice trade and good move to stick to your trade plan
  • #128,253
  • Mar 27, 2009 5:07am Mar 27, 2009 5:07am
GOOD MORNING!!!

Although I'm doing my best to learn the Fundies & Techs, some times you just have to follow your GUT!

Short cable from 4615 out at 4335

Short EUR from 3625 out at 3455

Both may even go lower but that will do it for me this Friday.......I'll keep watching but I'm sidelines now.

Green pips everyone!!
Ghost Rider - WWTBMD?
  • #128,254
  • Mar 27, 2009 5:30am Mar 27, 2009 5:30am
Morning, folks
Missed all opportunities this morning - should wake up earlier.
As of now I hope we will get a pin on 1H and then some retracement, but who knows? It's about 30 min to go.
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  • #128,255
  • Mar 27, 2009 5:36am Mar 27, 2009 5:36am
Quoting NwFXenthsist
aite cool, thanks it was def a good trade i wasnt sure if you were just randomly taking profit or if it was strategic. nice trade and good move to stick to your trade plan
Thanks mate, my signals been is sell mode all afternoon (in Aus).
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,256
  • Mar 27, 2009 6:08am Mar 27, 2009 6:08am
Quoting Bull_Bear
Thanks mate, my signals been is sell mode all afternoon (in Aus).
yeah selling was the money ride this morning...im on east coast of US. and a little mad you live in one of the places i mostly wanna travel too haha one of these days ill make it...
  • #128,257
  • Mar 27, 2009 6:14am Mar 27, 2009 6:14am
So, I am not sure if this frequently spotted pattern in cable is know as a Head and Shoulders, or a Fringe and big ears. To me it is more like the hanging man...
Attached Image (click to enlarge)
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Ride the Bulls bearback!
  • #128,258
  • Mar 27, 2009 6:26am Mar 27, 2009 6:26am
Quoting alcando
So, I am not sure if this frequently spotted pattern in cable is know as a Head and Shoulders, or a Fringe and big ears. To me it is more like the hanging man...
Beautiful.
A forecast for the forthcoming elections as well.
  • #128,259
  • Mar 27, 2009 6:47am Mar 27, 2009 6:47am
Quoting alcando
So, I am not sure if this frequently spotted pattern in cable is know as a Head and Shoulders, or a Fringe and big ears. To me it is more like the hanging man...


Your not wrong there. Check out this MEP telling it straight on how bad brown and the UK economy really are-
Inserted Video



Strange how You wont see this broadcast on the BBC in the UK.
  • #128,260
  • Mar 27, 2009 7:14am Mar 27, 2009 7:14am
Mid Day Market Report
27-March-2009

GBPUSD


http://www.forexfactory.com/attachme...1&d=1238155878
Retracement is in progress
Finally the British pound started its retracement to the downside breaking under two major points
The first one is 55 day moving average, the second one is 38.2% Fibonacci retracement
As we can see on the chart above there is a major support point today which is 1.4263 which I think that the per may test it today and we might see a clear break under that level in the American session
As the British pound starts its retracement I think that it might continue trending lower and start a new downtrend line targeting 1.3500 physiological level
Technically, the pair is likely to continue trending lower during the America session to retest 1.4263 support level
Stochastic Oscillators is pointing to the downside
Relative strength index is pointing down too
The general trend still down as far 1.5210 remain intact
Daily target at 1.4263 while long term target 1.3500


EURUSD


http://www.forexfactory.com/attachme...1&d=1238155878

Retracement is in progress
Finally the European currency started its retracement to the downside
As we can see on the chart above, the pair started trending lower during the European session reaching 23.6% Fibonacci level
Also we have a clear break under 55 day moving average but till now 4 hour candle didn’t close under that level
We have to keep an eye on the next 4 hour candle if it closes under 55 day moving average , this will be a clear sign that the pair will continue with its retracement to reach 38.2% Fibonacci maybe 50.0% Fibonacci level
Technically, the pair is likely to continue its way to the downside today to retest 1.33[FONT='Arial','sans-serif']47[/font] support level
Stochastic Oscillator is pointing clearly to the downside
Relative Strength Index is pointing to the downside too
Daily target at 1.3347 while long term target stays at 1.2000

Written by Nour Eldeen M. Al-Hammouri
Chief Economist & Currency Strategist
Forex Place Ltd
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