Forex rebates on every trade - win or lose!

Too much muttering about MPC rate rise, so watch out.

Derek,

Talk of MPC rate rise will push the $ up and Cable lower.

not if it's 1/2%

Sorry Beebs,

Mental block. I meant to say $ down and Cable higher. Blame it on Monday.

:o)

edit: There's further mileage on the short side yet, imo. Give it another day or two.

i'll forgive you
xxx

i'm not in the 1/2% camp,
but they know they've got to act now
to try to stop meltdown in property mkt


pretty sure we'll get 1/4%, which i would agree is priced in to cable.
might knock the ftse a bit.

Hils: Thanks for the correction, I was very worried about you for a moment . . . and maybe it is all priced in, but that doesn't seem to be reflected in the price (if you see what I mean). Why isn't it meandering around 18800 instead of 18157?

Derek,

The markets are always priced to the future. Whilst of late they've been pricing in MPC rate rises to drive Cable higher, you're also now starting to see the prospect of Fed rate rises being reflected in the price.

Everything is within the chart and it's relatively easy to "fit" the news to what the chart is already saying.

Ah yes, I did wonder if the Fed was having an effect.

Thank you for improving my FX education.

Hope you're all out of those shorts guys.

Yep. Stopped out during the course of yesterday. Do you reckon it's time to be long or wait and see?

Doug

Doug,

For the first time in some time, I'm not really sure which side of the market you should be atm.

You're probably still safe being short the EUR/USD for the time being. Cable, I'm actually long atm but not 100% comfortable. I'm going to give it a bit longer.

German Jobs news holding things up

Thanks Hil. I'm not trading EUR/USD - concentrating on GBP/USD so I'll probably stand aside for the moment.

Who are you using for news?

looking like the fall in the USD might have run its course for a while

brave shorts anyone?

shorted cable at 18350

Hillary,

What trading method do you use? Ive started to notice how more often than not you have a good feel for the FX market. Is that just from experience or do you get good signals from a specific sort of TA?

Tellon,

I just use the free charts on the web. I'm interested in trading the 3+ day trend for several hundred pips and am prepared to lose a hundred pips or so along the way if I get it wrong, so breaks of support and resistance are the most important indicators for me. Scalping for 20 or 30 pips along the way is of no interest to me whatsoever.

How do you form your support and resistance points? I.E Trend Line, EW, Gann Angles or do you rely on other websites for the information I.E www.fxstreet.com.

Also you say you use free charts on the web, Example the Dailyfx charts. Do you concentrate then on the hourly and daily periods and ignore the noise from the 15min and less charts?

Sorry for all the questions, just trying to get an understanding of your setup.

weak bounce on eur/usd off support looking for another test of the lows 11990-12000

Nothing to Hilary of course!...only 50 points away

1.8400 too much for Cable today

Looks like a new downward trend has begun.

Short Cable from 1.8373