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Cable Update (GBPUSD)

  • #10,761
  • Apr 18, 2007 8:18pm Apr 18, 2007 8:18pm
Technically, if we are trend trading it, it would have been a good idea to enter it, but looking at the way price dropped yesterday, its hard to ascertain if they will be able to retrace back upwards. The RSI (not that i swear by it but just one of thos indications) is conflicting giving more signs of upwards resistance

http://www.divshare.com/download/428664-550
  • #10,762
  • Apr 18, 2007 8:18pm Apr 18, 2007 8:18pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting PandoraBox
I'm waiting GBPUSD back to 19xxxx. Any opinion?
It might return to the 1.99 level even before the Retail Sales..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,763
  • Apr 18, 2007 8:20pm Apr 18, 2007 8:20pm
Better stay out of the market during Tokyo. Talks of China up to new screwup that may trigger a new carry trade selloff...

Check in this thread, where I posted the commentaries.

http://www.forexfactory.com/showthre...16691&page=223

If China raises the Interest Rate by surprise, GU will suffer big time.
  • #10,764
  • Apr 18, 2007 9:07pm Apr 18, 2007 9:07pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting cesarnc
Better stay out of the market during Tokyo. Talks of China up to new screwup that may trigger a new carry trade selloff...

Check in this thread, where I posted the commentaries.

http://www.forexfactory.com/showthre...16691&page=223

If China raises the Interest Rate by surprise, GU will suffer big time.
Do you think this is the reason why it moves so slow today?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,765
  • Apr 18, 2007 9:42pm Apr 18, 2007 9:42pm
Fundamentally, i don't know if its any good for the pound and eir econ if it goes any higher. looks like a bubble waiting to burst. I say the englishmen should take a break and take some holiday, with their rich currency, they need to share that wealth! hahah
  • #10,766
  • Apr 18, 2007 10:00pm Apr 18, 2007 10:00pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting jest1081
Fundamentally, i don't know if its any good for the pound and eir econ if it goes any higher. looks like a bubble waiting to burst. I say the englishmen should take a break and take some holiday, with their rich currency, they need to share that wealth! hahah
Who's gonna buy British imports??
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,767
  • Apr 18, 2007 11:18pm Apr 18, 2007 11:18pm
Does China GDP data may trigger cable downside a bit?
I think we may see 1.9960 today, anyone agree?
I'm going short here at 2.0040 TP 1.9975
To be or not to be, that's the question
  • #10,768
  • Apr 18, 2007 11:27pm Apr 18, 2007 11:27pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting hoezhiens
Does China GDP data may trigger cable downside a bit? I think we may see 1.9960 today, anyone agree? I'm going short here at 2.0040 TP 1.9975
Would you believe it if I tell you a big China GDP number could trigger massive sell off in all Yen crosses today? Yeah, 1.9940-1.9960 is the main support then..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,769
  • Apr 18, 2007 11:59pm Apr 18, 2007 11:59pm
Would someone mind to explain whats the connection between China GDP to Yen or any other major currencies? Thanx
  • #10,770
  • Apr 19, 2007 12:05am Apr 19, 2007 12:05am
I'm still dreaming about this question over and over again. Wondering if I put 10 lots with this.

Quoting Qu|cksilver
Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?
  • #10,771
  • Apr 19, 2007 12:12am Apr 19, 2007 12:12am
Quoting fxpinoy
I'm still dreaming about this question over and over again. Wondering if I put 10 lots with this.
Then u will be rich already

On my 5mins chart, the bear seems like already knocking on the door.
  • #10,772
  • Apr 19, 2007 12:33am Apr 19, 2007 12:33am
Quoting CWH
Would you believe it if I tell you a big China GDP number could trigger massive sell off in all Yen crosses today? Yeah, 1.9940-1.9960 is the main support then..
it seems hard below 2.0 tonight.

China market down big, Japan also. so the carry trade game is playing the risk. US market will be tought tomorrow..

let see euro market.
  • #10,773
  • Apr 19, 2007 1:17am Apr 19, 2007 1:17am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting wshhmm
it seems hard below 2.0 tonight. China market down big, Japan also. so the carry trade game is playing the risk. US market will be tought tomorrow.. let see euro market.
Any idea what time will China announce their GDP number? - in Eastern Time pls..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,774
  • Apr 19, 2007 1:22am Apr 19, 2007 1:22am
Quoting CWH
Any idea what time will China announce their GDP number? - in Eastern Time pls..
As of this post, around 40 minutes from now.
  • #10,775
  • Apr 19, 2007 1:26am Apr 19, 2007 1:26am
Its so hard to trade today. Cant guess where the market will bring direction. Got stopped here n there. But then again.. everyday is also hard. hehehe..

According to cnbc.. the GDP report will be released on 3pm local time (GMT +8) if im not mistaken.
  • #10,776
  • Apr 19, 2007 1:33am Apr 19, 2007 1:33am
Has made a double bottom and close to trend line - should at least make double top today and maybe could get to 2.0200. However I've been wrong before!! so trade what you see

monny a mickle macks a muckle
  • #10,777
  • Apr 19, 2007 1:36am Apr 19, 2007 1:36am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting coshbrewer
Has made a double bottom and close to trend line - should at least make double top today and maybe could get to 2.0200
I thought it will continue dipping from here???
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,778
  • Apr 19, 2007 1:38am Apr 19, 2007 1:38am
Quoting coshbrewer
Has made a double bottom and close to trend line - should at least make double top today and maybe could get to 2.0200. However I've been wrong before!! so trade what you see

monny a mickle macks a muckle
What TF are you seeing DB on?
  • #10,779
  • Apr 19, 2007 1:40am Apr 19, 2007 1:40am
Quoting coshbrewer
Has made a double bottom and close to trend line - should at least make double top today and maybe could get to 2.0200
Can explain where u got that conclusion?? On my H4 chart, cable has already break through 61.8 retracement and heading to 50 on 2.0010. Seems like it will test 2.0 today.

I go short from .025. TP 2.0.

The bear is not knocking the door again. He's "banging" the door.
  • #10,780
  • Apr 19, 2007 1:43am Apr 19, 2007 1:43am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting dd33
Can explain where u got that conclusion?? On my H4 chart, cable has already break through 61.8 retracement and heading to 50 on 2.0010. Seems like it will test 2.0 today. I go short from .025. TP 2.0. The bear is not knocking the door again. He's "banging" the door.
He's right Coshbrewer. Cable is already bidding farewell to the bull, see??
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
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