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Cable Update (GBPUSD)

  • #130,981
  • May 4, 2009 7:14am May 4, 2009 7:14am
Hi, how about the upcoming news around 2-3 hours from now about the USD, will it give the downtrend more strength to continue on going down? or will it break the downtrend and give the uptrend characteristic to rule out the graph?

these are the news:
Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction;

and the other one

Change in the total amount builders spent on construction projects;

what do you think guys? downtrend or uptrend?
  • #130,982
  • May 4, 2009 7:22am May 4, 2009 7:22am
its touched 61.8 already, i think time to go up now..
Attached Image (click to enlarge)
Click to Enlarge Name: guh10405.gif Size: 11 KB
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #130,983
  • May 4, 2009 7:29am May 4, 2009 7:29am
Quoting ammal07
its touched 61.8 already, i think time to go up now..
guys I would lke to go long on cable, the bottom of my up channels is 4793 and the strong support before the last move was at 4829 , is it safe opening a trade around here or should I wait for 4770s?
Chief Member of 220 mph Riders Club...
  • #130,984
  • May 4, 2009 7:30am May 4, 2009 7:30am
Quoting mj_xr
It should go up, maybe because today GBP is holiday and bank closed, so gbp weak. Maybe tonite or tomorrow??
Why it should ? GU is in a major downtrend. and the pound still expensive for buying and carry trade it. and with this rates , You should be kidding that smart money are buying it. They take profit and wait for us to lift it and they knock it down. No wonder the Black candles are so big even in small tfs. and Look at 4h . Evening star....
  • #130,985
  • May 4, 2009 7:43am May 4, 2009 7:43am
Hi guys, did you read about the USD in the News ( calendar ), i just want to ask if it will give the GBPUSD more power to downtrend? or will it let the GBPUSD rise up, can somebody tell me or make it clear to me? tlhanks
  • #130,986
  • May 4, 2009 7:54am May 4, 2009 7:54am
Quoting sERDAr
Do you remember that Cable was at 2,XXXX against Dolar?

Crisis affected US as much as it affected UK. After the safe heaven issue is over we are gonna see cable at 1,7XXX... Maybe in less than 6 months...

Don"t stick to these prices. I suggest.
Today! I hope
  • #130,987
  • May 4, 2009 7:55am May 4, 2009 7:55am
Quoting yanzsukechi
Hi guys, did you read about the USD in the News ( calendar ), i just want to ask if it will give the GBPUSD more power to downtrend? or will it let the GBPUSD rise up, can somebody tell me or make it clear to me? tlhanks

If news is better then expected it will move up - less risk aversion, if worse then expected then down. Conversely USD has started acting less like a safe haven and hence if the news is better then expected USD will move up.
  • #130,988
  • May 4, 2009 7:57am May 4, 2009 7:57am
Quoting sERDAr
Do you remember that Cable was at 2,XXXX against Dolar?

Crisis affected US as much as it affected UK. After the safe heaven issue is over we are gonna see cable at 1,7XXX... Maybe in less than 6 months...

Don"t stick to these prices. I suggest.

That was when UK economy was looking a lot better then US economy as all the grit under UK banks was still hidden. I would tend to say US economy recovery could be closer then UK economy. Although I do agree with the long term trend being upwards, but not before a couple of major set backs for GBP.
  • #130,989
  • May 4, 2009 8:02am May 4, 2009 8:02am
Quoting yanzsukechi
Hi guys, did you read about the USD in the News ( calendar ), i just want to ask if it will give the GBPUSD more power to downtrend? or will it let the GBPUSD rise up, can somebody tell me or make it clear to me? tlhanks

10:00pm USD
Pending Home Sales m/m
http://www.forexfactory.com/images/m...etail_star.gif
0.1% 2.1%
what i understand is, if forecast less than previous,and if it true, than usd value will drop,than GU should going up..
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #130,990
  • May 4, 2009 8:19am May 4, 2009 8:19am
Potential for a nice swing trade in USD/CAD .. long that is ... Sorry to deviate from G/U but thought I'd give everyone a heads up on some potential pips
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  • #130,991
  • May 4, 2009 8:28am May 4, 2009 8:28am
Quoting jack.canadia
Potential for a nice swing trade in USD/CAD .. long that is ... Sorry to deviate from G/U but thought I'd give everyone a heads up on some potential pips
thanks for the tip jack, But seems like going down fast, lets check 1783 or 1800 will hold on 4h candle for going long....
Chief Member of 220 mph Riders Club...
  • #130,992
  • May 4, 2009 8:35am May 4, 2009 8:35am
Quoting sERDAr
A lot better ??? Should we count how many US banks are bankrupt so far ? ... US has not gone better than UK ... We should talk with numbers surely but the most important number I see is 1,49XX instead of 2,XXXX, as there is no such big difference in economies. Market will try to compensate this gap, after the crisis starts smoothening.

My projection is for 6 months .. not for Today !!!
aşşağı gelmez diyorsun yani şöyle 4645lere gelsede bir mallansak 4830s support seems working for today, anyone enter short around 4910*4925levels?
Chief Member of 220 mph Riders Club...
  • #130,993
  • May 4, 2009 8:38am May 4, 2009 8:38am
jack, I see on daily chart 4/8 major suport at 1,1719, if it comes around there I will be in... (for uscad)
Chief Member of 220 mph Riders Club...
  • #130,994
  • May 4, 2009 8:44am May 4, 2009 8:44am
awts, OMG GPBUSD is going up, i wonder what will happen when the news will be released, what you think guys?
  • #130,995
  • May 4, 2009 8:55am May 4, 2009 8:55am
Quoting sERDAr
If we reach 1,4950 in a few hours, we will pass 1,50 very fast this time... Lets watch ..
please don't predict future everything is possible it could turn down also ..


Ub
  • #130,996
  • May 4, 2009 9:02am May 4, 2009 9:02am
be careful to go long events in favor of USD it could go down but i am confuse why its going up like a rocket


Ub
  • #130,997
  • May 4, 2009 9:03am May 4, 2009 9:03am
Quoting sERDAr
If we reach 1,4950 in a few hours, we will pass 1,50 very fast this time... Lets watch ..

I would be so sure about that! There is alot of resistance around the 5050 / 5100 area. Its worth standing on the side lines to get an indication about where the price action is lightly to go!

Cheers WG
  • #130,998
  • May 4, 2009 9:08am May 4, 2009 9:08am
Quoting sERDAr
Yeah here it comes.... 1,4966

I can see 1,51 tomorrow...
let see but you know 1.5000 is very high resistance which is not easy to broke but if it will broke so it will be good becuase after 1.5xx we will have good chance to go short and earn around 500-600 pips just follow trend and money ...i do respect your thinkings everyone is working here with thinkings no one can tell what will happen tomorrow but we all are here to help each other and safe each other and make money together

best of luck

Ub
  • #130,999
  • May 4, 2009 9:10am May 4, 2009 9:10am
Quoting sERDAr
Yeah here it comes.... 1,4966

I can see 1,51 tomorrow...
Trend line still intact..... wait for the break, if doesn't break south she goes
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #131,000
  • May 4, 2009 9:13am May 4, 2009 9:13am
Quoting Bull_Bear
Trend line still intact..... wait for the break, if doesn't break south she goes
i do agree with you i am short from 4960 and tp is 4820


Ub
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