Cable Update (GBPUSD)

I actually thought his speech was poor, he kept hinting saying things like "whatever happens tonight" etc. He never came out and said, listen we won this thing lets get going.

well out of a 1000 trades i won 501 just a few 1000 more to go till i am stinking rich lol, indicators dont lie ppl just misinterpret them if you want results like mine you can pm me

On May 6 2010, we experienced extremely volatile market conditions across all financial markets.

We would like to give you a summary of what occurred to explain the reasons behind today’s market volatility.

First, institutions were very cautious due to tomorrow’s UK Elections, US Nonfarm Payrolls, and the Canadian unemployment rate announcement.

In addition to that we had several market moving events. These include:

7:45 ET – European Central Bank Interest Rate Decision

8:30 ET – Trichet speaks at ECB Monthly News Conference

14:46 – Dow dropped almost 1,000 points and the bulk of the drop happened in less than an hour. The reason behind this drop was reported to be that Citi Bank’s trading desk accidentally sold 16 billion US Dollars worth of e-minis, when they were supposed to sell 16 Million.

After the big drop, two Fed officials came out with back to back announcements to help stabilize the market.

15:04 – Report that Fed’s Hoenig states that tomorrow’s jobs report will be positive

15:06 - Report that Fed’s Evans sees 3.5% economic growth in the US this year

Over the recent months, there has been a strong correlation between the US stock markets and the Japanese Yen. When the Dow plunged today, so did the Japanese Yen crosses. We saw JPY crosses drop between 350 (USD/JPY) and 1248 (GBP/JPY) points. We saw comparable volatility in non Yen crosses as well.

As a result most major banks that provide liquidity to the currency market turned off their FX price feeds for up to 30 minutes. This led to rejected and hanging orders for many FX traders. During this time FXCM immediately routed orders to any remaining banks, however FXCM clients were still subject to the thin liquidity and poor execution being provided by the market.

Market volatility and liquidity has returned to close to normal levels. However, there are still some major market moving events coming up tomorrow so manage your market exposure accordingly.

While FXCM cannot make any overriding statement on adjustments to positions that were negatively affected by today’s events, if you would like us to look into one or more of your trades, please submit an audit form through this link Audit Form and our audit committee will follow up with you as soon as possible.

rise your hand if you lose your Acc.
this chart looks like nice to be rich soon, but actually this is just a madness. remember your wife and your kid.,they need food.
good trade and control your emotion.


ps:what indicator that work in this situation?

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this nice

sean welcome to the crackforex house what do u think about cable

Hey i dont want to sound like a complete idiot, but what is the DOW???
But y explain all this, the market was anyway heading down since monday already so y explain this stuff now??? but late if someone already blew their account lol

Dow Jones Industrial Average Index

An index of top 30 companies of America

LOL dont you just hate miss clicks

its the
Dow Jones Industrial Average (Dow Jones Indices)

Thanks forexlion, doesnt sound very impressive to me lol, wait 30 companies we only have 30 here in south africa

Dow Jones: an indicator of stock market prices; based on the share values of 30 blue-chip stocks listed on the New York Stock Exchange;

simply an index of the New york market. it give you the overall sentiment of all the top compagny list on New york exchange market.

Anytime Coffee..

caveman welcome to the crackforex house

yesterday dow crashed like mad, lucky i got out green before that

Thanks

Wow thank you
3rd time lucky lol

1ooo pip in no time it was crazy i think it will visit the low it had yesterday its a matter of time

man i love this forum everyone is so helpful, while i am on a streak lol, i see ppl use the terms 'points' often, is a point a pip?????

pip only refer to Forex market currency movement, point is refer to index stock market

anytime Coffee