When is GBP turning around this trade has been killing all week I didn't sell it yet because I took too much a loss. When do you guys think the pound will turn around?
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #228,602
- Jul 1, 2010 1:18pm Jul 1, 2010 1:18pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
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- #228,606
- Jul 1, 2010 1:26pm Jul 1, 2010 1:26pm
- | Commercial User | Joined Oct 2008 | 5,712 Posts
YES mate.. very clear...
almost everyone was EUR short, and holding for a long time.. NOW with bad US data.. what we saw is only a position liquidation... What suprise is the the intensity of that move in a singe day.. In GU [320p] and EU [350p].. but probably b/c some 6 day window borrowing from ECB to cover 500Bln loan for euro BANKS..
Interesting anyway..
Cheers !
we keep telling n teling to them BUT NEVER LESSON
- #228,607
- Jul 1, 2010 1:28pm Jul 1, 2010 1:28pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
lesson learn to some 'people' bro.....
we keep telling n teling to them BUT NEVER LESSON
- #228,608
- Jul 1, 2010 1:31pm Jul 1, 2010 1:31pm
- | Additional Username | Joined May 2009 | 2,719 Posts
- #228,609
- Jul 1, 2010 1:34pm Jul 1, 2010 1:34pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
I can recall on an earlier post in DT's thread when UC hit the standard green 76.4 fib that a reversal was likely. Reasons were the fibs, extensions, and breach of upper Guppy profile MA whilst said profile was clearly heading south. Now, on July the first and just to confuse all as to future direction, we conveniently arrive back down at the standard green 88.6 fib/FE 38.2 – almost to the pip on the later - and just in time for the end of ECB intervention - oops, temporary bridging loans – and turnover over of fiscal year considerations.
…it’s uncanny… well, uncanny in the sense that it could be so easy for a retailer such as myself to be able to make the prediction. Pff, if only I had a million to punt.
Moving on: I see that Gold is expected to make a significant correction, and that there appears to be what seemed intervention on a UC bar around five hours ago. If ever I felt that manipulation was in play in order to reprieve, the last few hours have provided enough correlation for me. Of course, this was nicely timed for protecting market level a little later in the day, and prior to tomorrow… price is currently drifting back down, but I doubt it will penetrate too greatly for the rest of the day, and so a potential end of day rout was abated.
I still see Cable back up in the 1.54 region over the next few weeks, especially if Gold and UC move lower. UJ may be at a significant support – currently – but I think we will see 86, maybe even 84 before too long. Sorry I haven’t submitted charts, but to do so in order to support this summation would flood the readers' eyes.
I also see that the S&P had an expected test of the 1000 region earlier, and made a quick retreat back north. The question here is; for how long?
I still feel that the S&P is heading lower, and if working off the monthly chart submitted, I would predict down to the ascending green 76.4 fan/standard green 50 fib/ standard yellow 76.4 fib over the next couple of months. Price has breach south of the descending yellow 50 fan, appears to have been stopped at the standard yellow 61.8 fib – conveniently located around the 1000 – but does not seem pleased to be trapped so.
I feel that Geppy is decoupled from Cable at present, and as capital heads East, we may see Geppy torn between a rising pound and falling UJ. However, I still think that the following statement can expect some respect:
Quote:Originally Posted by 45Condor
With the aforementioned, I suspect that the Dollar would like to see a weak Euro and Yen, and strong Pound. It is better for exports, keeps the East in their place, and allows the Dollar a place of central control over the markets – London, a place that they can control, as opposed to those pesky Continentals with their grand designs of financial autonomy.
http://www.forexfactory.com/showpost...postcount=5984
And I still hold out hope for this:
http://www.forexfactory.com/showpost...postcount=6237
…it’s uncanny… well, uncanny in the sense that it could be so easy for a retailer such as myself to be able to make the prediction. Pff, if only I had a million to punt.
Moving on: I see that Gold is expected to make a significant correction, and that there appears to be what seemed intervention on a UC bar around five hours ago. If ever I felt that manipulation was in play in order to reprieve, the last few hours have provided enough correlation for me. Of course, this was nicely timed for protecting market level a little later in the day, and prior to tomorrow… price is currently drifting back down, but I doubt it will penetrate too greatly for the rest of the day, and so a potential end of day rout was abated.
I still see Cable back up in the 1.54 region over the next few weeks, especially if Gold and UC move lower. UJ may be at a significant support – currently – but I think we will see 86, maybe even 84 before too long. Sorry I haven’t submitted charts, but to do so in order to support this summation would flood the readers' eyes.
I also see that the S&P had an expected test of the 1000 region earlier, and made a quick retreat back north. The question here is; for how long?
I still feel that the S&P is heading lower, and if working off the monthly chart submitted, I would predict down to the ascending green 76.4 fan/standard green 50 fib/ standard yellow 76.4 fib over the next couple of months. Price has breach south of the descending yellow 50 fan, appears to have been stopped at the standard yellow 61.8 fib – conveniently located around the 1000 – but does not seem pleased to be trapped so.
I feel that Geppy is decoupled from Cable at present, and as capital heads East, we may see Geppy torn between a rising pound and falling UJ. However, I still think that the following statement can expect some respect:
Quote:Originally Posted by 45Condor
With the aforementioned, I suspect that the Dollar would like to see a weak Euro and Yen, and strong Pound. It is better for exports, keeps the East in their place, and allows the Dollar a place of central control over the markets – London, a place that they can control, as opposed to those pesky Continentals with their grand designs of financial autonomy.
http://www.forexfactory.com/showpost...postcount=5984
And I still hold out hope for this:
http://www.forexfactory.com/showpost...postcount=6237
Author of: For Pip's Sake! (Available at Amazon... :-) )
- #228,610
- Jul 1, 2010 1:34pm Jul 1, 2010 1:34pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
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- #228,612
- Jul 1, 2010 1:59pm Jul 1, 2010 1:59pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Could be the Americans are already on holiday? Doing their business today instead? I've a sneaky feeling NFP day will be muted.
Libor at record High 6.3 today,
ECB selling -> EUR Banks forced to buy EURO from ECB... Covering Liquidity hole of 450Bln EURO...
Result: .. EURO in the Sky with Diamonds..
- #228,613
- Jul 1, 2010 2:04pm Jul 1, 2010 2:04pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
Author of: For Pip's Sake! (Available at Amazon... :-) )
- #228,614
- Jul 1, 2010 2:07pm Jul 1, 2010 2:07pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
And if Spain are further downgraded, in spite of adhering to all the fiscal requirements as laid out by the ECB and IMF, well, troubled waters ahead.
Once Italy is hit - they are big savers down there - well, the Euro is well (insert your chosen expletive here).
Once Italy is hit - they are big savers down there - well, the Euro is well (insert your chosen expletive here).
not YET...
Libor at record High 6.3 today,
ECB selling -> EUR Banks forced to buy EURO from ECB... Covering Liquidity hole of 450Bln EURO...
Result: .. EURO in the Sky with Diamonds..
Author of: For Pip's Sake! (Available at Amazon... :-) )
- #228,616
- Jul 1, 2010 2:23pm Jul 1, 2010 2:23pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
Author of: For Pip's Sake! (Available at Amazon... :-) )
- #228,619
- Edited 5:05pm Jul 1, 2010 5:01pm | Edited 5:05pm
- | Joined Jan 2009 | Status: independent mind | 1,104 Posts
- #228,620
- Jul 1, 2010 5:27pm Jul 1, 2010 5:27pm
- | Additional Username | Joined May 2009 | 2,719 Posts