could beeeeeeeeeeeeee
Well could you please remove it - it disturbs my dog.
Cable Update (GBPUSD)
- #262,407
- Oct 29, 2010 8:38am Oct 29, 2010 8:38am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
nice play out so far.
Im out and outta here for the weekend.
Moral of the story is : buy cheap
look at my last few charts.
W
P.s this may not go any further
Have a great weekend!
- #262,409
- Edited 9:24am Oct 29, 2010 9:00am | Edited 9:24am
I appreciate this is slightly off topic but is anyone else enduring the random sound of a buzzing bee on their pc?
with a hoover of course
- #262,410
- Oct 29, 2010 9:02am Oct 29, 2010 9:02am
Maybee your fan needs cleaning, one of my comps has a buzzing sound in it when the fan gets clogged up with dust...either blow it out or carefully suck it out
The dream will never die
A little bit of history is always good a good thing in a Forex Forum :
From the beginning of the 1990s, high German interest rates, set by the Bundesbank to counteract inflationary effects related to excess expenditure on German reunification, caused significant stress across the whole of the ERM. The UK and Italy had additional difficulties with their double deficits, while the UK was also hurt by the rapid depreciation of the US Dollar - a currency in which many British exports were priced - that summer. Issues of national prestige and the commitment to a doctrine that the fixing of exchange rates within the ERM was a pathway to a single European currency inhibited the adjustment of exchange rates. In the wake of the rejection of the Maastricht Treaty by the Danish electorate in a referendum in the spring of 1992, and announcement that there would be a referendum in France as well, those ERM currencies that were trading close to the bottom of their ERM bands came under pressure from foreign exchange traders.
2. Currency traders act
The UK's prime minister and cabinet members tried vehemently to prop up a sinking pound and withdrawal from the monetary system the country had joined two years prior was the last resort. Prime Minister Major raised interest rates from 10 to 12 percent, then to 15, and he authorised the spending of billions of pounds to buy up the sterling being frantically sold on the currency markets however the measures failed to prevent the pound falling lower than its minimum level in the ERM.
The Treasury took the decision to defend Sterling's position, believing that to devalue would be to promote inflation. [5] On 16 September the British government announced a rise in the base interest rate from an already high 10 to 12 percent in order to tempt speculators to buy pounds. Despite this and a promise later the same day to raise base rates again to 15 percent, dealers kept selling pounds, convinced that the government would not stick with its promise. By 19:00 that evening, Norman Lamont, then Chancellor, announced Britain would leave the ERM and rates would remain at the new level of 12 percent (however, on the next day interest rate was back on 10%). It was later revealed that the decision to withdraw had been agreed at an emergency meeting during the day between Norman Lamont, Prime Minister John Major, Foreign Secretary Douglas Hurd, President of the Board of Trade Michael Heseltine and Home Secretary Kenneth Clarke (the latter three all being strong pro-Europeans as well as senior Cabinet Ministers), and that the interest rate hike to 15 percent had only been a temporary measure to prevent a rout in the pound that afternoon.
I think the UK is once again on this path...
From the beginning of the 1990s, high German interest rates, set by the Bundesbank to counteract inflationary effects related to excess expenditure on German reunification, caused significant stress across the whole of the ERM. The UK and Italy had additional difficulties with their double deficits, while the UK was also hurt by the rapid depreciation of the US Dollar - a currency in which many British exports were priced - that summer. Issues of national prestige and the commitment to a doctrine that the fixing of exchange rates within the ERM was a pathway to a single European currency inhibited the adjustment of exchange rates. In the wake of the rejection of the Maastricht Treaty by the Danish electorate in a referendum in the spring of 1992, and announcement that there would be a referendum in France as well, those ERM currencies that were trading close to the bottom of their ERM bands came under pressure from foreign exchange traders.
2. Currency traders act
The UK's prime minister and cabinet members tried vehemently to prop up a sinking pound and withdrawal from the monetary system the country had joined two years prior was the last resort. Prime Minister Major raised interest rates from 10 to 12 percent, then to 15, and he authorised the spending of billions of pounds to buy up the sterling being frantically sold on the currency markets however the measures failed to prevent the pound falling lower than its minimum level in the ERM.
The Treasury took the decision to defend Sterling's position, believing that to devalue would be to promote inflation. [5] On 16 September the British government announced a rise in the base interest rate from an already high 10 to 12 percent in order to tempt speculators to buy pounds. Despite this and a promise later the same day to raise base rates again to 15 percent, dealers kept selling pounds, convinced that the government would not stick with its promise. By 19:00 that evening, Norman Lamont, then Chancellor, announced Britain would leave the ERM and rates would remain at the new level of 12 percent (however, on the next day interest rate was back on 10%). It was later revealed that the decision to withdraw had been agreed at an emergency meeting during the day between Norman Lamont, Prime Minister John Major, Foreign Secretary Douglas Hurd, President of the Board of Trade Michael Heseltine and Home Secretary Kenneth Clarke (the latter three all being strong pro-Europeans as well as senior Cabinet Ministers), and that the interest rate hike to 15 percent had only been a temporary measure to prevent a rout in the pound that afternoon.
I think the UK is once again on this path...
________________________________
Errare humanum est
- #262,416
- Oct 29, 2010 10:48am Oct 29, 2010 10:48am
- | Joined May 2009 | Status: Trader | 1,124 Posts
You've got to be IN IT to WIN IT!
- #262,418
- Oct 29, 2010 11:47am Oct 29, 2010 11:47am
FYI The parabolic SAR has just broken through to the upside on the daily. If 1.61 breaks then 1.64 is very highly possible IMO.
Yes there is a very good chance of this, as this weeks trading has shown..And next week's will too
Good weekends to all......