View Poll Results: What impact will the Bank of England Rate Decision have on the GBP/USD?
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05-03-2012, 02:13 PM #22966
from RANsqawk: BOE has completed 325B QE buying - and now what?
05-03-2012, 02:21 PM #22967
I can`t find the tweet (ZH), but april avg seasonal adj. is ca. 30k, whereas march avg seasonal adj. is ca. 800k+ - the number could be seroiusly disappointing, but theese BLS people surely know how to deal with statistics - really tough call here
Originally Posted by Howdyy
05-03-2012, 02:22 PM #22968
SPX500 Neckline Break: Target 1374.20
Thanks Patryk. The rest did me good! I have a H&S projection target to 1374.20. Could we get a similar drop in GBP/USD?
Originally Posted by fazi
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05-03-2012, 02:23 PM #22969
Cable looks like uppish from here, it really struggled and failed to break below the low of 27/04. Indicators-wise, this week's slow grind seems to have work off a lot of overbought status. Wedge overshoots can always shoot even higher if it doesn't quickly break back into and below the wedge range. It doesn't have to be a new high, but might be a deep retracement back to near the high.
05-03-2012, 02:32 PM #22970
timewise - sp500 below aprl the 23rd low confirms LTD/SLTD top - this could be an early suggestion that Cable will follow the similiar path and LTD/SLTD top is already in place.
Originally Posted by Gregory McLeod
Last week we discussed this topic with JohnGFX -Cable`s long term time structure suggests a drop till early summer, correction towards august and SLTD bottom in the autumn.
05-03-2012, 02:33 PM #22971
Originally Posted by Franosh
05-03-2012, 04:02 PM #22972
My 32 LM Delta has a low due May 5/6 with the next high due about May 11. Fib retracement between the last 2 turn points shows support at the .618 level, about 6162. I am looking to buy on a move higher that shows up on the daily candle. If NFP causes a drop in price, there may be a buying opportunity next week.
05-03-2012, 04:05 PM #22973
Originally Posted by fazi
It's always been that way. It is only a survey.
05-03-2012, 04:09 PM #22974
This position ratio chart shows that 75% of these retail traders are still short.
05-03-2012, 11:25 PM #22975
how do you know its QE buying?
Originally Posted by fazi
05-03-2012, 11:58 PM #22976
05-04-2012, 03:00 AM #22977
Hi trexy123 - because they said so - current QE target of 325B has been reached so BOE cancellled may the 7th guilt auction (purchase)
Originally Posted by trexy123
05-04-2012, 03:26 AM #22978
for me now best level to entry short..just get ready
05-04-2012, 05:30 AM #22979
GBP/USD still remains in a down trend and we did not get a reversal on the break above 1.6215 - this was not so surprising given yesterday's bad ISM outcome. Price keeps in trading lower and a break under 1.6150 will get momentum going.
Today's key level is 1.6225 but we can also use 1.6250 as key level to give price some space to move. This down trend is very dependent on today's outcome US NFP.
05-04-2012, 06:07 AM #22980
hourly delta - we probably have no.8 bottom (9.30) and no.(8) inverted top - this suggests a down move towards end of the day - but this is NFP friday so things may unfold differently
edit: 1.6075 or 1.6079 is the bullish line in the sand from ITD perspective - below we have LTD/SLTD top in place.
edit2: hourly no.8 apparently is late (1.6162) -dip below and we have an inversion
Last edited by fazi; 05-04-2012 at 07:36 AM.
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