Cable Update (GBPUSD)

lets see how this one does.

is that a pin bar forming at 4HR?

NEW YORK (Dow Jones)--The dollar is a bit higher versus the yen early Thursday
on carry-trade interest, and it is up against sterling after the Bank of
England left interest rates on hold.

The U.K. central bank announced it would leave interest rates at 5.25%, which
came as no big surprise.

Still, the pound had been trading near its year-long highs in recent days -
suggesting the market was leaning toward a hike - which perhaps explains
sterling's correction Thursday.

Weak U.K. manufacturing data Thursday also hurt sterling sentiment. As a
result, sterling dipped to an intraday low of $1.9678 early in the New York
session.

Further losses in the U.K. pound may be limited, however, because investors
are expected to start buying sterling on the dips since its longer-term outlook
remains bullish.

Against the dollar, sterling "could see a brief dip to $1.9650, but should
rebound on expectations the (BOE) hikes in May with the release of the next
quarterly inflation report," analysts at ING Capital Markets in London said in
an e-mail.

Early Thursday, the dollar was changing hands at Y118.87 versus Y118.70 late
Wednesday, while the euro stood at $1.3382 from $1.3366, according to EBS. The
euro traded at Y159.04 versus Y158.56 late Wednesday. The dollar was at
CHF1.2192 versus CHF1.2204, while sterling was at $1.9682 from $1.9750 late
Wednesday.

The dollar showed little reaction early Thursday to a weekly jobless claims
report that came in a bit higher than expected and suggested some modest
slackening in labor markets.

Jobless claims rose 11,000 to 321,000 on a seasonally adjusted basis in the
week ended March 31, the Labor Department said. Wall Street expectations were
for a 7,000 rise.

Currency investors' lack of interest in the jobless-claims data suggest they
are waiting for Friday's important U.S. payrolls data, which is seen as a
better indicator and is likely to spark more price action on the greenback.

The yen, meanwhile, is on its back foot against the euro as well as the dollar
Thursday, suggesting further interest in carry-trade bets, where investors
borrow yen at low interest rates to buy higher-yielding currencies such as the
dollar and the euro, and pocket the difference in yield.

Shortly after the New York session began, the euro climbed above Y159, the
first time it has been in that territory since late February.

Against the dollar, the euro is a bit higher after German industrial
production came in far stronger than expected.

This was pre-dolalr selloff.. don't know if maintains... But better have it in mind..

excellent price

change my sl to 9750.

i can see this going up to 9745 area before heading down.
probably no big movements until NFP tomorrow.

I support you going short, good entry there. Still have my last part of short here.

Stay tuned....

The Usd appears to be breaking lower. We suggest keeping a keen eye on the [USD INDEX] and in particular the 82.64/65 levels. This area proved such key support in March and a clear break (82.61 the low so far) could open the way for a pick up in momentum in the index's downside and a wave of broad Usd sales. Below here, next bear targets come in at 82.38/40 and 82.20/25. Whilst pre Easter stop tripping is a theme, US data has been less than encouraging and Fed officials" warning comments on inflation have been shrugged aside by FX players. Meanwhile, the Dow is in negative territory in early trade, with the Micron news proving a weight. The Usd is largely unwanted.

Any body knows where can I get real time USD index? I just have previous day close here.

is there still enough steam to drop cable to 9660....
ur honest analysis is welomed by the way bravo wats ur target??

http://www.forexfactory.com/images/misc/progress.gif

http://tick.ino.com/chart/

=DJ Dollar Falls To 2-Year Low Vs Euro, Also Down Vs Yen

Thu Apr 05 10:27:54 2007
EDT

NEW YORK (Dow Jones)--The dollar slid to a two-year low against the euro
Thursday in a data-light, holiday thinned session as sentiment turned against
the greenback ahead of Friday's U.S. non-farm payrolls data.

After beginning the New York session only slightly weaker against the euro on
the back of stronger-than-expected German industrial production data, the euro
suddenly began to surge, with no obvious catalyst.

Traders said it may have been spillover from the euro's equally sharp gains
against the yen as short-term investors plow back into the carry trade -
borrowing yen at low interest rates and buying euros and other high-yielding
currencies to make a profit on the interest rate differential.

"Carry is king is still in play," said Alan Ruskin, head of international
strategy at RBS Greenwich Capital.

But the dollar, which tends to rise against the yen when carry trade bets are
made, fell back against Japan's currency Thursday after earlier gains,
suggesting the move may be more against the dollar than in support of the euro.

Fears of a sudden deterioration in the payrolls data Friday morning may be
weighing heavily on the dollar, as this could suggest the consumer will no
longer be able to hold up the U.S. economy, traders said.

The payrolls data are coinciding with Good Friday for the first time in eight
years Friday, creating a thin-trade environment that could make the dollar
vulnerable to very sharp movements.

The euro Thursday drove to an intra-day high of $1.3442, its highest mark
since March 2005, and touched a high of Y159.36 against the yen, putting it
within striking distance of its all-time high of Y159.63, attained in February
of this year.

At 10:17 a.m. EDT, the euro stood at $1.3432 from $1.3366 late Wednesday,
while the dollar was changing hands at Y118.54 versus Y118.70, according to
EBS. The euro traded at Y159.18 versus Y158.56 late Wednesday. The dollar was
at CHF1.2134 versus CHF1.2204, while sterling was at $1.9718 from $1.9750 late
Wednesday.

Andrew Busch, global markets strategist at BMO Capital Markets, said several
other issues are also on the minds of investors.

"Geopolitical tensions have died down, the Iran crisis is basically over,
equity markets are coming back and what we're seeing is a march back to the
levels in late February (when risk aversion gripped the market, driving the yen
higher against its rivals)," Busch said.

The volatility helped sterling recover much of its overnight losses against
the dollar on the Bank of England's decision to leave interest rates on hold at
5.25%.

There are no other important U.S. data out Thursday, but price action could
remain volatile ahead of the U.S. payrolls report.

Good analysis Brava.. I see the same one. I have been scalping twice today with small gains .. http://www.forexfactory.com/images/icons/icon7.gif
Very volatile day .. same goes tomorrow too, I guess.

I am out of here until the nfp.

current cable short position looking better then it did about 1 hr ago.

i am hanging with my short one from 1.9720 but still ready to get out if something happens. meaby it eaven might try weekly pivot? 1.1952.

nice link.

you can also get free live feed for gold from any of the metatrader servers if you are using one. gold is negatively correlated with usd. gold goes up, dollar goes down vice versa.

take a look at gold chart and compare it to usd index. you'll see what i mean.

Since we help each other try this one:

http://quote2.fxtrek.com/misc/fxcm2.asp

The pair USD/INX will fit.

Regards
Toshbor

take a look at the correlation between gold and dollar below.
actually, the top chart is gold and under it is gbp/usd.

take a look at how gold price went up when usd sell off began earlier in the NY session.

http://www.imagefreehost.com/files/0...1410065408.bmp

nice.