GBP/USD outlook

Looks great on a 1 minute chart eh...

Not much on with Cable today.

Enjoy

Hedged but not entirely sure what to do with this one

5470-80 is a possibility now.

Close the short then hold the long?

Prob best to hold both and see what's next.

Stuff it, closed out the shorts, let's see how the long goes

Interesting video halfway down the page comparing the pre-meltdown housing market views of Mr. Schiff and Mr. Bernanke.

Who was right, who was wrong?

Indeed, so why are we listening to this liar again?

http://beforeitsnews.com/financial-m...s-2511552.html

Closed out my weeker 5128 longs, then re-entered with a smaller long at 51595.
Let's see how she rolls...

Just trying something on CAD and EURO, still in early testing phase on these.

Ok, trialling a 1 hr strategy in conjunction with my Cable swing strategy.

Tiny lots to start.

Trade explorer attached.

Let it roll...

Hello all,
the Dollar Index is the King and it's good to analyze where/when it could top-out. This is my latest analysis for it, which could be useful to trade all the major currencies trading against USD.

The Dollar Index could be very close to a reversal. On the daily chart, the sequence of measured moves higher, which was currently trading in extensions long, failed with price moving below 82 (I had indicated that level in the free weekly Newsletter). That failure, along with the traditional long that offered support yesterday and today (see scenario 1 below) is pointing to highs at 82.78-85 or slightly higher.

http://www.forexfactory.com/attachme...1&d=1362580767

Following are the two scenarios I was able to identify. I think the second scenario has less probability to take place:

Scenario 1. After failing the sequence of measured moves higher, with price moving below the 82 level, the Dollar Index found support in the same area. The 81.90 level held indicating a target in the 82.78 level. This is very close to the 82.84 first target of the failed extension long (Busted setup pattern). So I anticipate price moving into the 82.70-90 and then a swift move lower due to profit taking.

Scenario 2. There is still a possibility for price to continue higher, but that would mean that the Euro-Dollar could not find participation at the 1.2900 area.

Let me know your thoughts.
Thank you
Have a great day
G.

Hi mate.
I'm only trading Cable in here now, was thinking of other pairs, but decided last night to lay it all on my favorite pair, so I can't comment on any indexes etc.

Would not surprise me at all though to see Cable creep down on Friday prior to NFP so some shorts can be sucked in on the break of last weeks low, just before we find some solid support at 4950 area.

Just a thought, will be interesting to see what happens.

Hello traders,
an update for the USD Dollar Index that can be helpful not only for trading the EUR/USD (52% of the Dollar Index) but also the other major pairs USD/JPY, GBP/USD, USD/CAD and AUD/USD.

We had a sequence a of two traditional measured moves higher: the first with long entry in the 82.30 area with target in 83. The second with entry in the 82.70 area and targets at 83.40 (today's highs). We now have a new (third) long setup in the sequence at the 83.00 area (check the picture below).

The third long setup just traded: support was shown at the 83.01 level. This long setup has a stop, and failure level, below 82.90. Below this level the sequence of measured move is interrupted and we could see the start of the move lower in the Dollar Index (Scenario 1)

http://www.forexfactory.com/attachme...1&d=1363277753

Here are my two scenarios, as usual:

Scenario 1. If price comes below the 82.90 level the sequence of measured moves higher on the daily chart ends and price could start its move towards the 20-day SMA (partial targets area). The move could then continue lower after a bounce.

Scenario 2. If the next setup long on the daily chart is respected, i.e. price of the index never moves below 82.90 there is the possibility of a continuation higher into the next target at the 83.60 area (1st target) and even higher.

Let me know what you think.
Thank you

PS: Euro FX futures just approaching the resistance at 1.3000 in my last analysis

Thanks for the answer Ill-b-back.
I try to analyze the Dollar Index to get information on what the USD could be doing and that helps in trading the other pairs.
I too trade only the EUR/USD, so I understand. But having a look at the USD index I think is always important...
just my 2 cents...
GL
Cheers
G.

America in recovery mode??

lol...

http://pro.stansberryresearch.com/13...ALYN/LPSIP3DT/

Liking USD strength for now though

Buy the dip to Goldman Sachs 1.36 - 1.4???

Nah, I'll pass...

Fucking Turkeys.

So, our Government has decided to get on the wrong side of the media.

Bad move Julia, bad move indeed

Ok, looks like she could be making a run for 1.55 area to complete the H&S nicely

About time I got one right
lol...

Or something like that.

I have an unhealthy addiction to patterns, but I don't trade the Euro at all anymore, so what do I care.

Nice H&S though maybe.

And with Goldman Sachs calling out for 1.4, it only makes sense that we should go to 1.2 right??

lol...

I'm thinking if we get back down to 5160 area we could be on a road trip to 5340 area.

1hr & 4hr ema (support) to daily ema (resistance)