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Cable Update (GBPUSD)

  • #243,441
  • Aug 5, 2010 5:29am Aug 5, 2010 5:29am
Quoting cloggie
UC is finding some support here, and if this week is anything to go by this 30 will fail anyways.
yea, seems selling usd is the new trend. it can't get a break from being hammered hard..... usd index fall from 81+ to 80.65 again..... the other issue if one has noticed is, it lost its safe haven status due to doom US economy....
  • #243,442
  • Aug 5, 2010 5:31am Aug 5, 2010 5:31am
short small size 4h trg 120p
  • #243,443
  • Aug 5, 2010 5:35am Aug 5, 2010 5:35am
Quoting Elite_trader
yea, seems selling usd is the new trend. it can't get a break from being hammered hard..... usd index fall from 81+ to 80.65 again..... the other issue if one has noticed is, it lost its safe haven status due to doom US economy....

I'm not sure it was ever considered a 'safe haven' in the way swissy and gold are, but it remains (for now at least) the world's reserve currency. many have written it off in the past and been proven wrong, and it could happen again...with competing world economies in a competitive devaluation I am not unsure that for now the U.s is relaxed about the current fall. Fundamnetals - Lol, I am thankful I trade technicals.

G/L
ex member
  • #243,444
  • Aug 5, 2010 5:35am Aug 5, 2010 5:35am
very true always moved but very uncertain for todays news

Quoting bbmac
Thats difficult to say until it comes out...has it moved the market in the past -Yes !! can it be a prolongerd move (not just a quickly reversed knee-jerk to data release) - Yes, but as with all data it depends on wether it is different from that the market is expecting as to likely strength of any reaction.) This site rates it as 'High impact' data...The likeliest scenario is rates on hold at 0.5% and no change to Qe but the accompanying statement may offer more clues as may the minutes of this Boe/Mpc meeting to be released later in the month....
  • #243,445
  • Aug 5, 2010 5:36am Aug 5, 2010 5:36am
USD is in selling mode till the first missile lands on Iran

once that happens, cable will fall like a rock

traditional USD strength during wars
  • #243,446
  • Aug 5, 2010 5:37am Aug 5, 2010 5:37am
I know not everyone will have it as broker times differ re 4hr but I wonder how many bought the 4hr pinbar close with stop just below it ??

G/L
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ex member
  • #243,447
  • Aug 5, 2010 5:38am Aug 5, 2010 5:38am
Quoting cloggie
USDCHF, always a good one to see if this is Sterling strength or Dollar weakness.
u mean if cable is strong then UC is weak? and vice versa
  • #243,448
  • Aug 5, 2010 5:39am Aug 5, 2010 5:39am
buy from 1,5849
stop loss : 1,5849

take profit - can not to solve this moment right now.
If news will move GU up, then it will be more clear, I think.
  • #243,449
  • Aug 5, 2010 5:40am Aug 5, 2010 5:40am
so will obama short cable first then press the button
or the other way round?
  • #243,450
  • Aug 5, 2010 5:40am Aug 5, 2010 5:40am
Quoting jimmyloz
http://nsa16.casimages.com/img/2010/...4556916778.jpg

other analysis on my blog http://foxtrade-foxtrade.blogspot.com/

again in the wedge
  • #243,451
  • Aug 5, 2010 5:40am Aug 5, 2010 5:40am
Quoting bbmac
I know not everyone will have it as broker times differ re 4hr but I wonder how many bought the 4hr pinbar close with stop just below it ??

G/L
I did
  • #243,452
  • Aug 5, 2010 5:41am Aug 5, 2010 5:41am
Quoting forexlion
USD is in selling mode till the first missile lands on Iran

once that happens, cable will fall like a rock

traditional USD strength during wars
yeh like the U.s either wants or can afford another mid east asian adventure especially with a democrat in white house who thinks he can charm the birds out the trees. Furious back room un-seen diplomacy is the most likely scenario and play a waiting game till Armadinajad loses next Iranian election ?? I don't rule out military action though but at this stage it is unlikely...that said there is always the chance that Israel will take unilateral action (they are an undeclared nuclear power) with tacit backing of the U.s...ie surgical strikes on the known nuclear sites with U.s weaponry.

Just opnions.
ex member
  • #243,453
  • Aug 5, 2010 5:41am Aug 5, 2010 5:41am
Quoting forexlion
USD is in selling mode till the first missile lands on Iran

Lets hope it never happens.
  • #243,454
  • Aug 5, 2010 5:43am Aug 5, 2010 5:43am
Quoting bbmac
I know not everyone will have it as broker times differ re 4hr but I wonder how many bought the 4hr pinbar close with stop just below it ??

G/L

Non-UK retailers may, but the majority of London based traders use London hours and have another 20 minutes on their bar.
  • #243,455
  • Aug 5, 2010 5:46am Aug 5, 2010 5:46am
Quoting bbmac
I'm not sure it was ever considered a 'safe haven' in the way swissy and gold are, but it remains (for now at least) the world's reserve currency. many have written it off in the past and been proven wrong, and it could happen again...with competing world economies in a competitive devaluation I am not unsure that for now the U.s is relaxed about the current fall. Fundamnetals - Lol, I am thankful I trade technicals.

G/L
I am not certain on usd reaction prior to 2008 since I wasn't trading fx then, but post-crisis, usd, yen & gold were considered save haven assets. later due to FED's low rate it was used by carry traders as quote currency along yen against high yield currencies. I lead toward technical trading myself but can't ignore the fundamental specially with such sentiment driven markets.

cheers
  • #243,456
  • Aug 5, 2010 5:48am Aug 5, 2010 5:48am
Quoting forexlion
traditional USD strength during wars
What? From 0,8 to 1,6 EU you call strength?
  • #243,457
  • Aug 5, 2010 5:57am Aug 5, 2010 5:57am
Quoting cloggie
Non-UK retailers may, but the majority of London based traders use London hours and have another 20 minutes on their bar.
My 4 hour bar closes 63 minutes from now, at noon UK time .. does yours close on the half hour?
******************* I'd rather make money than be right.
  • #243,458
  • Aug 5, 2010 5:59am Aug 5, 2010 5:59am
Quoting 4xStar
My 4 hour bar closes 63 minutes from now, at noon UK time .. does yours close on the half hour?

Mine is closing now, noon UK time. And it is a bullish engulfing.
  • #243,459
  • Aug 5, 2010 6:00am Aug 5, 2010 6:00am
No change in rate, no change in QE, so no statement.
  • #243,460
  • Aug 5, 2010 6:02am Aug 5, 2010 6:02am
Quoting cloggie
No change in rate, no change in QE, so no statement.
so what is next then up or down?

Ub
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