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Cable Update (GBPUSD)

  • #273,421
  • Mar 2, 2011 10:49pm Mar 2, 2011 10:49pm
Hi mates here.

I saw a report saying that strong oil price favored GBP up, i don't really undertand this relationship. Many thanks for someone's explanation here. Good luck to all.
  • #273,422
  • Mar 2, 2011 11:10pm Mar 2, 2011 11:10pm
Anyone seen the bill Gross piece on QE2 ending...and that should be "D-DAY"... I was thinking if things do pan out the way Gross predicts,and interest rates rise significantly... would this be a dollar bullish scenario?
Twitter: @TrendersGame
  • #273,423
  • Mar 2, 2011 11:55pm Mar 2, 2011 11:55pm
Hey there opinions here, in my view we have a pretty clear day forwards, either bounce or breakthrough, now here is where to hope comes in, hope price reaches the area again hehe.

Goodluck.
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  • #273,424
  • Mar 3, 2011 1:34am Mar 3, 2011 1:34am
Long at 16307 -
  • #273,425
  • Mar 3, 2011 1:48am Mar 3, 2011 1:48am
Quoting chazzle
Long at 16307 -
whats ur tp?
  • #273,426
  • Mar 3, 2011 1:49am Mar 3, 2011 1:49am
Quoting chazzle
Long at 16307 -
Close 16322
  • #273,427
  • Mar 3, 2011 2:01am Mar 3, 2011 2:01am
Quoting chazzle
Close 16322
lol ? insider trade?
Hero calls followed by margin calls...
  • #273,428
  • Mar 3, 2011 2:07am Mar 3, 2011 2:07am
open sell GBP/USD order at 1,6314..target price 1,6245
  • #273,429
  • Mar 3, 2011 2:09am Mar 3, 2011 2:09am
Quoting PhAnTi'
lol ? insider trade?
the only thing I'm inside is my bed lol
  • #273,430
  • Mar 3, 2011 2:11am Mar 3, 2011 2:11am
Hello

i left my pc 12-13 hours ago before dinner.
gbpusd was 6318.
now is 6313.

im in very trouble! i have a feeling it is a long position also here, but later is services PMI.

What do you think about placing a buy stop little above 6330 ?
90% of traders use TA, indicators and prediction
  • #273,431
  • Mar 3, 2011 2:19am Mar 3, 2011 2:19am
possibly stalling below 1.3645/50, upside potential remains while above 1.6290/00, below may see pullback to 1.6245/50 initially

EU===possibly topping below 1.3890/00, above may see to 1.3940/50, bias higher while above 1.3830/40, below may see lower to 1.3790 to start
  • #273,432
  • Mar 3, 2011 2:22am Mar 3, 2011 2:22am
Quoting Exciter135
Hi mates here.

I saw a report saying that strong oil price favored GBP up, i don't really undertand this relationship. Many thanks for someone's explanation here. Good luck to all.
hello,
me too i saw something like this. i think was on fxlive.com
shuold be because middle est oil producers, need to diversificate investments due to larger incomes, and so they buy euro n gbp n gold etc...
if anyone knows something else or more about is welcome, coz me too i dont reallly trust this thing
90% of traders use TA, indicators and prediction
  • #273,433
  • Mar 3, 2011 2:23am Mar 3, 2011 2:23am
Quoting bbakker
That is a tricky question! The reason being is that I studied economics for 2 years at high school, so I already have a good foundation in both macro and microeconomics even though this was nearly 20 years ago, what I learned is still lurking up there... somewhere!

To understand the fundamentals, you need a basic understanding of economics!

There are some self-study courses that you can take. Some are free and others will cost some money. I suppose you get what you pay for but here are a couple of links with the first one a course that will...

Very good!
Thanks for the sharing!!!
90% of traders use TA, indicators and prediction
  • #273,434
  • Mar 3, 2011 2:32am Mar 3, 2011 2:32am
this is what i see on my chart.
all those blu lines are peaks on daily chart maybe in january.

can it today go above all of them?
main resistance is 6340-6360

then immediatly 6376 then 6410.

surely i think ONE thing:
if services will be good, we will see a bomb up straight to 6440 coz i think there are a lot of stops near those levels n also a lot of buy stop orders little above.

this is why im thinkin to put a buy stop order near that area.
if price goes up won't let the time to get into position.

going down i see a possible crash till near 6170, above that 61% fibo.
i dont think is good idea to pick a position now. or better... mode! hihii
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90% of traders use TA, indicators and prediction
  • #273,435
  • Mar 3, 2011 2:35am Mar 3, 2011 2:35am
Quoting _BBKing_
hello,
me too i saw something like this. i think was on fxlive.com
shuold be because middle est oil producers, need to diversificate investments due to larger incomes, and so they buy euro n gbp n gold etc...
if anyone knows something else or more about is welcome, coz me too i dont reallly trust this thing
So a kind of shelter, thks BBK. Agreed, only chart guides us ultimately.
  • #273,436
  • Edited 3:01am Mar 3, 2011 3:01am | Edited 3:01am
Quoting _BBKing_
hello,
me too i saw something like this. i think was on fxlive.com
shuold be because middle est oil producers, need to diversificate investments due to larger incomes, and so they buy euro n gbp n gold etc...
if anyone knows something else or more about is welcome, coz me too i dont reallly trust this thing
From what I understand, here's the overall rippling effect.
1. Libya cuts oil export to Europe by half, oil price up.
2. Most business depend on oil (mainly for transportation). If oil price goes up, then prices of sold goods and services would also increase.
3. With increasing prices, inflation is expected.
4. When inflation occurs, interest rate increase is expected. Interest rate here refers to the rate that bank will charge on loans.
5. Quoting wiki, "When the central bank raises interest rates, investors tend to become risk averse and thus avoid leveraged capital because the costs of borrowing may become too expensive".
6. With that, people will tend to invest on the currency.
7. Thus, more demand, currency valuation up.
  • #273,437
  • Mar 3, 2011 3:32am Mar 3, 2011 3:32am
OH NOOOOO
  • #273,438
  • Mar 3, 2011 3:36am Mar 3, 2011 3:36am
Services PMI is down. Was anyon expecting this I certainly was not? All longs are gone. So what next?
  • #273,439
  • Mar 3, 2011 3:38am Mar 3, 2011 3:38am
went long at 1.6285.i believe that support @ 1.6270 will hold...pmi wasnt that bad...
Never again will fade the trend
  • #273,440
  • Mar 3, 2011 3:39am Mar 3, 2011 3:39am
USD Strength/GBP Weakness...so GU Goes Down.

Also EUR news was lower than expected...so GU followed suit.
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