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GBP/USD outlook

  • #1,161
  • Jun 14, 2014 12:26am Jun 14, 2014 12:26am
Quoting Ill-b-back
NZUSD looks good to short this week, and retest the breakout line below, prob at the 50fib monthly support by the looks of things Watch for PA reasons to go long from down there perhaps:nerd: {image} {image} {image}
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzdusddaily.png Size: 29 KB
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  • #1,162
  • Jun 15, 2014 12:08am Jun 15, 2014 12:08am
some EG targets below I think

Call them fibs, supply, demand, support, resistance

whatever....

Just connect the dots ......

lol...
Attached Image (click to enlarge)
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  • #1,163
  • Jun 15, 2014 12:12am Jun 15, 2014 12:12am
But watching the lower TL
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  • #1,164
  • Jun 15, 2014 12:37am Jun 15, 2014 12:37am
If we get a bounce off the 50 fib/TL/77xx area, watch 84 (2xTL) confluence area as resistance.

This could be trigger to hammer down to 2nd target of 7260, providing of course price doesn't keep travelling north through the descending TL.

Watch PA I guess...
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Click to Enlarge Name: eurgbpmonthly.png Size: 34 KB
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  • #1,165
  • Jun 15, 2014 12:41am Jun 15, 2014 12:41am
And projecting fib retracements back up from our projected 1st target. (swing low to swing high)

There's that pesky number again.

A little thin I know

But clearly a monthly PA support turned resistance area also :nerd:

Or is it supply??

or....
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  • #1,166
  • Jun 15, 2014 1:01am Jun 15, 2014 1:01am
weekly
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  • #1,167
  • Jun 15, 2014 2:23am Jun 15, 2014 2:23am
Kiwi looks interesting.
after breaking and retesting the monthly TL,

It might go down off the daily wedge line resistance thingy,

back towards resistance turned support.

Or is it the Golden Ratio?...



Considering all the red US figures lately and evidence suggesting the FED is funneling (increased) QE thru Belgium (since there is no way Belgium can afford that volume) after a huge dump of treasuries by someone,

if we get down to support, I'll watch for PA reasons to go long...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzdusddaily.png Size: 25 KB
Click to Enlarge Name: nzdusddaily1.png Size: 27 KB
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  • #1,168
  • Jun 15, 2014 2:35am Jun 15, 2014 2:35am
Watching this as a "possible FINAL" target
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  • #1,169
  • Jun 15, 2014 4:52am Jun 15, 2014 4:52am
4hr structure and 55ema, 200ema and 200sma suggest to me that 8585 may limit the drop for the retest
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  • #1,170
  • Jun 15, 2014 11:34am Jun 15, 2014 11:34am
So much for "Cable" update...
  • #1,171
  • Jun 15, 2014 1:26pm Jun 15, 2014 1:26pm
Quoting Orly
So much for "Cable" update...
Yeah I should change the title
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  • #1,172
  • Jun 15, 2014 1:41pm Jun 15, 2014 1:41pm
Could be next target area I suppose
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  • #1,173
  • Jun 15, 2014 7:57pm Jun 15, 2014 7:57pm
Currency prices do not confirm to stable economic "theory".

If they did, it's unlikely we would have booms and bust, deep swings and troughs.

Credit appetite/credit crunch cycles would not exist.
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  • #1,174
  • Jun 15, 2014 11:41pm Jun 15, 2014 11:41pm
Man,Cable is a BEAST!!!

we could get a retest down to 6920 area, but I don't think I'll touch it again until 7330 area/50fib and clear monthly resistance
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  • #1,175
  • Jun 16, 2014 8:21pm Jun 16, 2014 8:21pm
Thinking of buying this Aussie dip soon
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  • #1,176
  • Jun 16, 2014 8:37pm Jun 16, 2014 8:37pm
Quoting Ill-b-back
Thinking of buying this Aussie dip soon
I am waiting to close my shorts at 9350 8 of them then you can go long
Personally I would not since Bear side has plenty of room 93-9280
BB middle line is 20MA sort of long term trend base
Its at 1/2 down but could go below 20MA to opposite deviation where I normally buy
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  • #1,177
  • Jun 16, 2014 8:53pm Jun 16, 2014 8:53pm
Quoting Davit
{quote} I am waiting to close my shorts at 9350 8 of them then you can go long Personally I would not since Bear side has plenty of room 93-9280 BB middle line is 20MA sort of long term trend base Its at 1/2 down but could go below 20MA to opposite deviation where I normally buy {image} {image}
Ha ha, thx for the go ahead, I wouldn't want to step on anyone's trades.
Looking and waiting for a retest of broken weekly descending TL or there abouts.
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  • #1,178
  • Jun 16, 2014 8:59pm Jun 16, 2014 8:59pm
Quoting Ill-b-back
{quote} Ha ha, thx for the go ahead, I wouldn't want to step on anyone's trades. Looking and waiting for a retest of broken weekly descending TL or there abouts.

There is a Global milk action tomorrow expectation is it will undersell hence NU will dive down dragging AU along
http://www.globaldairytrade.info/
Just thought to share
30% NZ economy is dairy based
In trading, you have to be defensive and aggressive at the same time
  • #1,179
  • Jun 16, 2014 9:05pm Jun 16, 2014 9:05pm
Quoting Davit
{quote} There is a Global milk action tomorrow expectation is it will undersell hence NU will dive down dragging AU along http://www.globaldairytrade.info/ Just thought to share 30% NZ economy is dairy based
I'm short nu from yesterday, I hope she drops more
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  • #1,180
  • Jun 16, 2014 9:58pm Jun 16, 2014 9:58pm
Quoting Ill-b-back
{quote} I'm short nu from yesterday, I hope she drops more
I got my biggest positions on NU
8550'sh looking to exit
tomorrow should be interesting
Based on PA investors are fleeing already.
In trading, you have to be defensive and aggressive at the same time
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