look like a strong chance we ends the week in a downtrend.
Cable Update (GBPUSD)
- #317,921
- Jul 2, 2012 4:24pm Jul 2, 2012 4:24pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #317,922
- Jul 2, 2012 4:32pm Jul 2, 2012 4:32pm
- | Commercial User | Joined Feb 2010 | 2,739 Posts
have a good night or a good day for the traders on the other side of the Earth.
I'm going to bed now and hope my last short EU will close @ 1.2560 and leave only the long EU TP up there @ 1.28-29,30,32 before another short
I expect ECB to cut rates this week to under 1% so this will boost EU..to 1.2786 in an instance then 1.2985 then 1.3053....and if we are lucky we go higher to 1.3293
I have my longs to trigger down there .....maybe overnight maybe tmr or never
I'm going to bed now and hope my last short EU will close @ 1.2560 and leave only the long EU TP up there @ 1.28-29,30,32 before another short
I expect ECB to cut rates this week to under 1% so this will boost EU..to 1.2786 in an instance then 1.2985 then 1.3053....and if we are lucky we go higher to 1.3293
I have my longs to trigger down there .....maybe overnight maybe tmr or never
- #317,924
- Jul 2, 2012 4:56pm Jul 2, 2012 4:56pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #317,925
- Jul 2, 2012 5:20pm Jul 2, 2012 5:20pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #317,926
- Jul 2, 2012 5:30pm Jul 2, 2012 5:30pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #317,927
- Jul 2, 2012 10:57pm Jul 2, 2012 10:57pm
have a good night or a good day for the traders on the other side of the Earth.
I'm going to bed now and hope my last short EU will close @ 1.2560 and leave only the long EU TP up there @ 1.28-29,30,32 before another short
I expect ECB to cut rates this week to under 1% so this will boost EU..to 1.2786 in an instance then 1.2985 then 1.3053....and if we are lucky we go higher to 1.3293
I have my longs to trigger down there .....maybe overnight maybe tmr or never
- #317,928
- Jul 2, 2012 11:29pm Jul 2, 2012 11:29pm
- Joined Mar 2008 | Status: Name real with real own way | 23,415 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #317,929
- Jul 3, 2012 1:05am Jul 3, 2012 1:05am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
sounds like your trying to pick the bottom and tops?
it is just the bottom I would like to pick to be honest and use a good MM for this
I expect 1.5530 to hold so this is why I want to load on the way down for an upmove.
I still want to see the upmove today that will touch the 1.5784 level so I can see later 1.5906 but I want to load as well some longs.
I'll see what charts point out later today.
- #317,930
- Jul 3, 2012 1:17am Jul 3, 2012 1:17am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Hi Redbeben, I have noticed that Aussie depreciated when the rate was cut, why would EU will get a boost with the cut? Sorry I am just new to all this and I know you are generousness with your knowledge. Appreciate your response.
a lower interest rate in effect would mean depreciation of the currency which should be bad from one point of view coz it means the economy is shrinking....this tells classic economy.
in our case a cut in the interest rate means lower interest rates for the loans which means higher liquidity on the market...
for example if you want to borrow money from ECB now you borrow it @ 1% interest rate....so if you own a business that desperately needs a loan (like the majority of the european business owners)just to pay for the bills and the salaries then you'd rather banckrupt it and cash in what's left of it
on the other hand if they will reduce the interest rate to 0.75% let's say the interest rate will be more attractive to the business owners meaning they will take more loans to help ''develop'' their business which in return will bring lots of taxes back to the allmighty ECB.....or so they hope and so they dream of.
in my oppinion if you start a business by borrwing money is like using high leverage on a trading account...you use what's not your's so that's why you're gonna blow it.
you cannot give more drugs to a drug addict coz this is the main reason the whole world is in a huge debt now.
so....the logic behind the short term upthrust of EU would be this one....more money to lend,more business opened,more taxes to the govts.
long term vision
....just more debt never to be repaid - #317,931
- Jul 3, 2012 1:53am Jul 3, 2012 1:53am
a lower interest rate in effect would mean depreciation of the currency which should be bad from one point of view coz it means the economy is shrinking....this tells classic economy.
in our case a cut in the interest rate means lower interest rates for the loans which means higher liquidity on the market...
for example if you want to borrow money from ECB now you borrow it @ 1% interest rate....so if you own a business that desperately needs a loan (like the majority of the european business owners)just to pay for the bills and the salaries...
- #317,932
- Jul 3, 2012 1:57am Jul 3, 2012 1:57am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Thank you, I get it know and your comment about blowing accounts with high leverage is so relevant. I did that twice
I've seen plenty businesses going down the drain due to high loans and poor management and good businesses that really needed the loans to start off.
but a loan with no plan behind makes no sense.
- #317,933
- Jul 3, 2012 2:06am Jul 3, 2012 2:06am
I mean don't get me wrong....some people know how to deal with money and risks but some don't
I've seen plenty businesses going down the drain due to high loans and poor management and good businesses that really needed the loans to start off.
but a loan with no plan behind makes no sense.
agree
- #317,936
- Jul 3, 2012 3:09am Jul 3, 2012 3:09am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
when will the rate cut information will be posed?
Thx.
Thursday we have the ECB rate expected to be cut to 0.75% ,and the BOE meeting..where a QE is expected + the USA jobless expected to raise so Thursday will either skyrocket EU and GU ...only limited like 1.30 on EU and 1.59-60 on GU before another fall.
let's not forget that yesterday 2 countries opposed the fiscal pact....after summit.
and as Greece still wants to pay less loan and have less conditions and Spain will be bailed out and .....oh well we all know europe will vanish...so EU still has problems so upmove will not last too much.let's call all this upmove a consolidation better than a reversal
- #317,938
- Jul 3, 2012 4:18am Jul 3, 2012 4:18am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #317,940
- Jul 3, 2012 4:36am Jul 3, 2012 4:36am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Glad to see your profit
It seems traders must trust to level instead News of course for hour trading not long term as it shows today.
You have a good Trading Motto; we can't profit in long term"
That's right my friend
Kami
Maybe I will have to remove the comment
Come with me if you want to live....