US ($) Currency Thread 1 (closed - use thread 2)

whatusername

Denise07 wrote: »

Hello all
I am new to this world and this is my first post - so sorry it is a question!

I am needing to purchase USD for 28th Feb latest - I see I can buy forward at approx 1.44 - but would have to be done in the next 2 days to get delivery in time - assuming the rate stays as it is!

The big quesion without a crystal ball is should I wait to see if the rate gets better?
Respect to Inspector Monkfish and all expert views welcome.
Thanks very much

Hold off as long as possible but it's worth bearing in mind the rates quoted here are trading rates, your counter rates etc will be a tad lower.

whatusername

inspector_monkfish wrote: »

1.4660


fallen back to 1.4605 now, but that will just be profit taking...

Was always going to happen i suppose.

Big push this afternoon hopefully.

Denise07

Thanks for the insight!
I will watch and wait for the meanwhile.
Re the trading to counter rates - who has the best deals for a private purchaser?

inspector_monkfish

Denise07 wrote: »

Thanks for the insight!
I will watch and wait for the meanwhile.
Re the trading to counter rates - who has the best deals for a private purchaser?

keep the faith !

inspector_monkfish

watch out for the 1.30 US figures
Jobless Claims and Labor Costs

then at 3.00 we have Durable goods and Factory Orders

glenandemm

can you explain what you mean by resistance levels and support levels and who sets them as a guide?

glenandemm

wots going on,its dropping back into the 1.45's now?

inspector_monkfish

glenandemm wrote: »

can you explain what you mean by resistance levels and support levels and who sets them as a guide?

well the easiest way to explain them (and there is alot more to it than this) is that they are levels where there has been large amounts of buying/selling action previously

so many people may want to take profit at these levels

so for the currency to trade through those levels, and take out the profit takers on the way through, it makes it quite significant

hope that explains it enough, i could go deeper, but wouldn't want to bore you !!

inspector_monkfish

glenandemm wrote: »

wots going on,its dropping back into the 1.45's now?

the US figures i mentioned earlier, just came out at 1.30..

inspector_monkfish

glenandemm wrote: »

can you explain what you mean by resistance levels and support levels and who sets them as a guide?

Fibonacci levels (now this is indepth - prepare to be bored...)

http://www.surefirething.com/indicator-fibonacci.html