US ($) Currency Thread 2

neilbond007

A little recovery...

1.5104

sabretoothtigger

Its a nice recovery and well deserved after being so badly beaten down but 1.513 is another turning point area I think

We can always break the trend and rise strongly of course, I have no definites or I'd be a rich man but it would seem cable is due another fall shortly to continue weakness since Nov, Jan

On daily chart I have 1.52 as top price for tomorrow. Dollar has been weak today but could find support soon Im told. It does appear to have lost its uptrend for now I think

citigroup wrote:

Newswires report that the services PMI rose from 54.5 in January to 58.4 in
February, its highest since January 2007 – and the jump of nearly 4 points is
the biggest one-month gain for over 10 years. This follows other signs of fairly
strong growth in the manufacturing PMI, and recent surveys by the CBI. The
official GDP data show only modest growth in Q4, but already have been
revised up from 0.1% QoQ to 0.3% QoQ and may well be revised again.
 The MPC have been highly sensitive to swings in the PMIs and other cyclical
guides over recent years, usually tightening once the PMIs have been above
average for a sustained period — and easing once the PMIs have clearly fallen
below average (with the speed of response depending in part on whether
inflation is above or below target). For now, of course, the MPC are firmly
against hiking rates, but in our view there is little chance that they will expand
QE and add more stimulus at tomorrow’s meeting. Indeed, the sharp upturn in
the PMIs, if confirmed across other cyclical guides and GDP data, creates the
preconditions for the MPC to exit the current ultra-low policy rate later this
year, especially if inflation expectations surge and the UK continues to lack a
credible deficit reduction programme.

sabretoothtigger

1st March Retrace and sideways action for sterling met the previous down trend this afternoon and Im expecting it to resume the negativity unfortunately.


Euro and Sterling give back yesterday's gains
http://www.digitallook.com/dl/news/story/3319400/FX_afternoon_update_-_Euro_and_Sterling_give_back_yesterday%27s_gains.html

sabretoothtigger

Friday afternoon cable broke through the bottom of the negative trend.
We are still in the retrace of the 1st March breakdown, if it can override that then 1.53 is possible but the larger picture is still down till we break through the top of the negative trend

Conclusion is rapid failure is not likely but gradual decline is still occurring.
If we go sideways then the larger falls might occur close to the weekend

whatusername

Well it seems to be holding around or above 1.51, im all bought up for currency for my trip in 4 weeks but i'll be looking ahead again as going back to the states in June

inspector_monkfish

1.5115 trading

Dealmad

Im going to the USA on April 25th do you think its wise to buy it now or wait and see?

It seems to be quite low at the moment was hoping for at least 1.60 but i would be even more stressed it it went lower then 1.40

neilbond007

whatusername wrote: »

Well it seems to be holding around or above 1.51, im all bought up for currency for my trip in 4 weeks but i'll be looking ahead again as going back to the states in June

Where you off to this time?
I was in Louisville, golfing at the weekend. Temperature was close to 60F! Crazy as only 3 weeks ago we got over a foot of snow in Cincy...

whatusername

neilbond007 wrote: »

Where you off to this time?
I was in Louisville, golfing at the weekend. Temperature was close to 60F! Crazy as only 3 weeks ago we got over a foot of snow in Cincy...

New York for Easter and Orlando in the summer. We do Orlando every year, have family there.

I will be partaking in 9 holes tonight, my first golf since November.

How's tricks with you buddy? You all Americanised now?

inspector_monkfish

1.5040 trading