Forex rebates on every trade - win or lose!

I love announcements :-)

Quick +10 from a short scalp, dangerous really...

I'm wondering whether a turn has set in and longs are the order of the day again, but keeping my powder dry for now.

Looking at 2 charts atm.
Undecided as yet - woman's prerogative ;)
Couple of longs yesterday and a reverse short play since this morning.
Preferred chart is telling me to leave my stop just above 1.86, so arbitrarily I've bunged it in at this morning's high. Hourly looks to have turned up, but I'm going to ignore it, so long as the previous biggie support thingie stays in resistance mode.

Long from 611, up you go my son....

Choccie,

I've given up on trying to be smart and think. It costs money, so I've gone back to grass roots. I went long on the Fed minutes the other night and I'm staying there for the time being.

Why the US is heading for a currency crisis.

No signs of an US currency crisis yet as poor retail and inports figs just out has strengthened the $ once again

Another stop hit, had such a busy morning that I couldn't be at my screen at 1.30 :-(

It's been very quiet around here today. Whats a lurker like me suppose to do without any FX banter to read?

Oh well, back to the shadows whilst I think of something to post. :-)

Don't give up, cunningham, activity comes in flurries around these parts. That Hilary will be back for sure. As for Chocolat, expect quite unrestrained behaviour.

I'm still here and still long from the middle of last week. I've got a downward slopey wotsit at around 1.87 so I'll take another look at it then.

There's probably not many here who follow chunnel, but it's heading back down again towards 0.67 and the Euro is starting to look very sick indeed.

It can only be a matter of time imo before the Germans decide that they are no longer prepared to pay for all of the "hangers on" and the Euro gets broken up.

Forex - Pound jumps after UK inflation data point to November BoE rate hike
AFX


LONDON (AFX) - The pound jumped higher after inflation figures showed headline annual CPI inflation dipped as expected in September but continued to suggest that the Bank of England will raise interest rates again next month.

Official data this morning showed annual CPI dropped to 2.4 pct in September, down from 2.5 pct in August, but still well above the Bank of England's target of 2.0 pct. The figure was bang in line with expectations.

'The as-forecast number underpins the expectation that the BoE Monetary Policy Committee will hike the UK base rate by 25 bp to 5.0 pct next month,' said Robert Howard at Thomson IFR Markets.

At 9.43 am, the pound was trading at 1.8643 against the dollar, up from 0.8616 just before the data were released, having briefly jumped to a high of 1.8656 immediately afterwards. The euro meanwhile was trading at 0.6727 stg, down from 0.6734 just beforehand, just off a low of 0.6720.

Moreover, the figures also showed a rise in other measures of inflation, with the core CPI rate rising to 1.4 pct from 1.1 pct in August, its highest level since November last year and above expectations for a much more modest rise to 1.2 pct.

The annual all-items RPI rate -- which is used in pensions payments -- surged to 3.6 pct from 3.4 pct the previous month, its highest level since June 1998 and again above expectations for a reading of 3.5 pct.

jessica.mortimer@afxnews.com

We should all have that downward slopey thingie, Hils ;)
Mine frames a broader channel going back to the highs from the beginning of September to the lows from last week. But I also have a little rising jobbie which was formerly my biggie support [edit: after another tweak since last week :)] and cable's really snuggling up to it now - wondering what'll happen around the 1.87 mark when they meet.

More PPI gubbins this afternoon to make a prettier picture.

really snuggling ;-)

Thats better the flurries of banter have returned. :-)

As I had the morning doing paperwork, I've been playing with cable - profitably this time :-) - Missed a few opportunities as well.

Looks to be rolling over to the short side on my 1 minute chart.

Choccie,

Your downward slopey has got to be different to my one. For a start, mine's a wotsit and yours is a thingie.

:o)

As I see it, cable could retrace anywhere up to around the top line at around 1.9050 of the broader channel. There certainly looks to be more mileage on the dealer chart. I'd prefer to wait until it does actually turn back down, even if it means losing a bit, rather than trying to pre-empt the top and subsequently kicking myself if it carries on going.

Not on my 1-minute it doesn't, Seymour. Looks to be going back up to retest the highs.

You need to be careful imo when the Yanks wake up. They often knock it about to sucker some inexperienced punters out and at the same time put a bit of liquidity into the market to help them get in.

OK Hils, thanks, now moving up again since I posted. No position now, waiting for the US, but probably will be too busy to look this afternoon.

A lovely trending morning this morning, made about half what I should but have been busy with other things.

Quite right, Hils - and your thingie begins with a W and mine doesn't ;)

And if cable gets back to 1.9050 then we'll be hot hot hot :o)