Forex rebates on every trade - win or lose!

Beeble...Did exactly what you did this am...
but after 2-3 failures at a rally...

have now reversed..

Nice to know that one of us will do well though :-)

edit: fall could extend quickly to as much as 1.7970-1.8000
but I am never that lucky

However mindful of that complete retracement of that rally to 1.8440
240 odd pips over a 12 hour period means that dollar bulls back in control
and I think that they are looking for more mileage yet

Hilary...thoughts this sunny morning?

yup david - not an encouraging bounce,
somewhat lacking in conviction,
i'm out now, and it's coming your way

Morning guys,

Atm, I see both Cable and EUR/USD as sells from shortly after 7am based upon a x-over of a couple of MA's. French CPI seems to be supporting the Euro though. UK data at 9:30 ...... let's see what that brings.

G'morning Hil. Do you see a FOMC rise on June 30?

Good morning Derek. That's a really difficult question to answer and I really don't have a firm view on it, I'm afraid. I can only comment upon the market, which is currently pricing in a June rise.

Whilst the recent economic data has pointed to an early rise, there's a part of me which says that the Bush administration will want to delay and minimise rises for as long as possible so as not to jeopardise too greatly his chances of re-election.

Bit if a battle at 1.8100

It was struggling to go lower from 1.8075 down to 1.8045 and the 15 min bars gave a clue with a bearish engulfing pattern

We have this mornings level of 18110 ish as resistance above
and this is the level that dollar bulls will likely use to try to turn back
those Cable lovers..using that as my short stop

Hil: You've answered my question, it's currently in the price, But who knows, indeed.

Cheers

D

The swift rise from 176ish to 185ish over the past
few weeks was in my plan, and I expected the correction
to 183 - indeed was never totally convinced that was enough,
and forecast that we may correct to 181-182, which makes this
current level a critical point for cable.

If we can consolidate here, then I'm going to stick with my
forecast of 185-190 over the next say 4-8 weeks. If however we
break below 180, then all bets are off, but I think that scenario
is less likely. Would be interested to know what the charts and crystal
balls have to say about my thoughts......

and david, brilliant reverse, my excuse was i was watching ftse and dow
very carefully first thing !!!!

btw, i have no position currently, but having looked at the euro chart,
i'm itching to go long....

Frustrating day yesterday of what felt like low volume small movements
probably set to continue for the rest of the week

Currently short...although flat and doing something more exciting probably the way to go atm

I'm short the Euro, foale, and have no position on Cable in the wake of Mervyn King's comments.

I think that a lot of eyes are on the US CPI data today as it could be a big pointer to US interest rate rises. The market had been pricing itself for the data to be released on Friday, then Thursday and now finally today. This delay has possibly prompted the inactivity in the market, imo.

GBP data at 9:30.

Covered my short for now. Looking for a buy signal next. Patience Rodders.

sell FX ben fun today..still short
still bored...

though any attempts at 11860+ getting well sold into

09:30 figs provided a floor to todays action..
lets see what the 1:30 2:00 and 2:45 figs do

Was long into the figures. Sprayed into the spike. Awaiting Michigan now ....... Greenfingers talk should be a damp squib imo - he never gives anything away!

Well Mervyn has thrown me a bit of a wobbly.
Reading between the lines, he is a very worried man,
and is desperately trying to avoid a 'boom and bust'
scenatio - yet cable's 2 cents higher than when he spoke.
On top of that Greenbum has declared 'soft' rises for the
fed, .25 at a time, which has been priced in for some time.

I am tempted with a short term short from here, but as I've
got to go out a lot today, will take up position no 3.

Happy trading all, c.u. later.

Morning Beebs,

I had the EUR as a long a bit earlier and thought that Cable was going the same way so I longed them both just before they each came off 20+ pips. Sitting with them for now basically because I still see the EUR as a long although Cable clearly isn't yet, but I'm hoping that it will still come good for me. Is that what they call the Concorde method?

you use whatever method suits you babe,
i'm sure you'll soon go supersonic
xxx

Morning All, Been sitting back and watching cable for the past few days.

My view now:-

EUR/USD & USD/JPY both show technicals of USD going down. Cable the technicals are a bit mixed. Although Cable has bounced of 38.2% fib and stopped just above 50% (Also the same support from a couple of days ago)

Ive left an Entry Order for 1.8365. With some faith in dollar weakness and possible good news for cable. This could push us up to the 485 resistance.

Oil +0.26
GOLD Aug +0.6 DEC +0.8
$ Weakness there as well.

Right..

Upward channel, Resistance breached.

Long Cable @ 1.8361

Exited for -12

Wow.. Im here all on my own.

Made a nice 50pips going long this morning. Im seeing how it handles resistance now but possibly more legs on it.