Cable Update (GBPUSD)

do you mean the one i started trading last week, if so yes

One last thing, the EM are having a mini-crisis, if the Fed tapers then it could turn into a major crisis, that will dampen global growth further, and not help general recovery...so I'm expecting no taper today, but I never studied economics so il know how wrong I am later today...

Your original one from years back

I'm more technical than fundamental, but according to this, if the Fed tapers it would be good for the dollar, since it means the Fed thinks the US economy is getting stronger. So if the monthly asset purchases goes down from 75$ billion to 65$, as it is expected, the Cable could be go down like a hot knife through butter.

h 12

Dont be too sure, the market never does what you think you want it to do. For all we know tapering may mean Usd/yen goes down some more. It can go both ways

still short from 1.6610 update from the chart i posted last week target 1.6488 break of that it down down

closed cable for +39 pips. Will keep break even Usd/Yen for FOMC ....I hope it doesnt whipsaw and stop this out

Why tapering will make the USD/JPY go down? Shouldn't it go up?

Nice to see this pair drop from high

this reminds of what usd/jpy was doing around 8th january.
still have sell limit at 1.6617
i dont think there will be bull strength until it goes gown to 1.6520

Thats not very far away...

yes it looks like price might get 1.6520 before coming back up.
but i wont sell here, too risky and not great r:r

can anyone give me a link where i can hear Carney...

Just because we are tapering doesnt mean the US economy is in better shape. The significance of Quantitative Easing and Tapering actually is the devaluing of the dollar. FOMC long term plan is to devalue the dollar by 33% over the next 20 yrs. The debasement of the dollar currency will even be worse if the FED exceeds its goal of 2% per yr increase in price level. Under the gold standard (when dollar was good as gold) years of inflation was followed in time by declining prices hence over long periods of time the price level of goods was left unchanged. A dollar 10 yrs ago was still worth a dollar today. with interest rates at near 0 this accentuates the decline of the dollars buying power by imposing a negative return on short term bonds and bank deposits. Thats all the FED can do because they believe that manipulating interest rates and the value of the dollar can reduce employment rates (which of course is not working)

At the end of the day its not about why tapering is good for the dollar now. QE was bad to begin with and you cant cover a deep wound with a band aid ....the price action of the news reaction depends on what the bankers want to happen. if they need dollars they will sell the dollar to trigger everybodys sell orders (retailers , unknowing money mangers) so that they can buy all the dollars they want which in turn triggers their buy stop orders sending the price up even more as liquidity is what banks look for (they dont care about trend or whatever mostly volume and liquidity) to get into their billion dollar positions and FOMC news events is just the perfect time to do it as unsophisticated traders tend to want to trade news events and are open to these manipulations. The same thing goes if they want to sell the dollar they will do the reverse( buying , moving the price triggering everybodys orders and selling into that liquidity) . Sorry for the long post, thought ill explain it a tad bit.

yes sir, thats how im able to live

www.Bloomberg.com/ click the link to live tv - If its a big announcement

Or these are best http://www.bankofengland.co.uk/publi.../2014/706.aspx

Thanks for your explanation, IveGotQuads

6100 to 1.6524 closed. lets see what i will be next bull or bear i was right in long at my sell point ,on the 1 min now to see were we go.