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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #226,901
  • Jun 2, 2010 8:23am Jun 2, 2010 8:23am
The H4 just keeps plowing up for another try - 4th one? Again, it's UJ, which should get to 92.3 at least. Let's see if NY can get GJ to hit 135.4/5 & onwards. I'm not sensing it's much more deserving than that.
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  • #226,902
  • Jun 2, 2010 9:17am Jun 2, 2010 9:17am
previous behaviour during retracements.

if history repeats itself, then a possible test of support may be in cards at some point. IF there is a break of last support (currently @ 133.02), i expect a test of 131/130/upper 129 area before final rally to 141/142.
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Nihil Sine Deo.
  • #226,903
  • Jun 2, 2010 9:32am Jun 2, 2010 9:32am
I agree a retracement is in order before the strong push upward. I think it should start in Asia after US closes today. 133.10 are 132.60 are my targets.
  • #226,904
  • Jun 2, 2010 9:34am Jun 2, 2010 9:34am
Same way I've been seeing PA here also. Looking for 132.00 initially but 131/130 definitely not out of the question.

Quoting Scrat
previous behaviour during retracements.

if history repeats itself, then a possible test of support may be in cards at some point. IF there is a break of last support (currently @ 133.02), i expect a test of 131/130/upper 129 area before final rally to 141/142.
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  • #226,905
  • Jun 2, 2010 9:37am Jun 2, 2010 9:37am
Iran to sell 45 bln euros, buy dollars, gold -Xinhua

BEIJING

June 2 (Reuters) - The Iranian central bank has announced that it will sell 45 billion euros from its foreign exchange reserves to buy dollars and gold, China's official Xinhua news agency reported on Wednesday, citing unspecified Iranian media reports.

Xinhua said that the sales would be conducted in three stages and that the first had already begun, citing unnamed sources.

It also said that other Gulf states had also started cutting their euro holdings.

http://www.reuters.com/article/idUSL...pe=marketsNews
check out my blog: forexmademillionaire dot com
  • #226,906
  • Jun 2, 2010 9:45am Jun 2, 2010 9:45am
and after they do it, i bet we can expect a serious mark down on dollars and gold "market value"... just to rattle things a little bit.

Quoting Geppy
Iran to sell 45 bln euros, buy dollars, gold -Xinhua

BEIJING

June 2 (Reuters) - The Iranian central bank has announced that it will sell 45 billion euros from its foreign exchange reserves to buy dollars and gold, China's official Xinhua news agency reported on Wednesday, citing unspecified Iranian media reports.

Xinhua said that the sales would be conducted in three stages and that the first had already begun, citing unnamed sources.

It also said that other Gulf states had also started cutting their euro holdings.

http://www.reuters.com/article/idUSL...pe=marketsNews...
Nihil Sine Deo.
  • #226,907
  • Jun 2, 2010 9:46am Jun 2, 2010 9:46am
What fun would it be otherwise?

Quoting Scrat
and after they do it, i bet we can expect a serious mark down on dollars and gold "market value"... just to rattle things a little bit.
check out my blog: forexmademillionaire dot com
  • #226,908
  • Jun 2, 2010 9:58am Jun 2, 2010 9:58am
Quoting Geppy
Same way I've been seeing PA here also. Looking for 132.00 initially but 131/130 definitely not out of the question.
hi Geppy

here is a major sub and res on H4 maybe we will have bearish to 131.95 before we go for another long wave
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  • #226,909
  • Jun 2, 2010 10:01am Jun 2, 2010 10:01am
yeah, what fun would it be. right. and so iranians would go crazy and start selling gold and dollars... at a discounted price, of course.

well... i can only hope their president won't come out in the open to setup a "nucular" party... i hate these things.

Quoting Geppy
What fun would it be otherwise?
Nihil Sine Deo.
  • #226,910
  • Jun 2, 2010 10:09am Jun 2, 2010 10:09am
now back to a little bit of analysis...

initially, london tried to push price up, not really convincing. after tokyo closed @ 134.25 and put a support there, we had another attempt at resistance, capped again by ny open @ 134.98. and then... we broke tokyo support.

what this means is that current bias is bearish, and we have resistances above @ 134.82 (london open) and 134.95 (ny open) that are probably going to be tested again. if this happens, would be a very good opportunity for shorts - nice r/r. it shouldn't go above 135.08... if this happens i will re-evaluate.

no charts for now... i feel lazy today.
Nihil Sine Deo.
  • #226,911
  • Jun 2, 2010 10:13am Jun 2, 2010 10:13am
Price is above 4h/daily gann, bias is bullish imo, next target is Daily 50ema 136.30
Trade what you see, not what you think.
  • #226,912
  • Jun 2, 2010 10:52am Jun 2, 2010 10:52am
Quoting karmostaji
Price is above 4h/daily gann, bias is bullish imo, next target is Daily 50ema 136.30
if we have H4 candle close above 135.40 price will reach 136.86 easily
  • #226,913
  • Jun 2, 2010 10:54am Jun 2, 2010 10:54am
alright... flip flop. going up...?
Nihil Sine Deo.
  • #226,914
  • Jun 2, 2010 11:11am Jun 2, 2010 11:11am
we may visit 135.51 / 50 now, bouncing level
  • #226,915
  • Jun 2, 2010 11:11am Jun 2, 2010 11:11am
took a short at 135.07 with smaller size lot with stoploss @ 135.66
Looks like its going to be hit soon
Read the entire market, money is made on the main trend not the fluctuation
  • #226,916
  • Jun 2, 2010 11:12am Jun 2, 2010 11:12am
Quoting Scrat
alright... flip flop. going up...?
Yup up we go
Trade what you see, not what you think.
  • #226,917
  • Jun 2, 2010 11:16am Jun 2, 2010 11:16am
Quoting Kofmaster
took a short at 135.07 with smaller size lot with stoploss @ 135.66
Looks like its going to be hit soon
kinda fair SL
target for 95 up to 128 pips
  • #226,918
  • Jun 2, 2010 11:20am Jun 2, 2010 11:20am
Head fake in my opinion... taking a short here above 135
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  • #226,919
  • Jun 2, 2010 11:21am Jun 2, 2010 11:21am
This pa I don't really like the looks of it. where the trend is up i shorted it. This is driving me crazy. I need either KabOOOM or KaPusssH . Not bs pa like this
Read the entire market, money is made on the main trend not the fluctuation
  • #226,920
  • Jun 2, 2010 11:22am Jun 2, 2010 11:22am
yes we may revisit 134.30 for a test...

Quoting Geppy
Head fake in my opinion... taking a short here above 135
Nihil Sine Deo.
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