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

whatusername

inspector_monkfish wrote: »

WHERE ARE YOU LOOKING FELLA???

GBP/EUR has rallied from 1.1090 to 1.1210 since opening this morning.

Pound has gained strength across the board today, thanks to good data figures overnight and this morning.

I noticed the Euro was at 1.11 which is where it was when you made a similar comment the other day old bean

inspector_monkfish

whatusername wrote: »

I noticed the Euro was at 1.11 which is where it was when you made a similar comment the other day old bean

1.12 now my friend

inspector_monkfish

neilbond007 wrote: »

oh, and where has the "sticky" gone?
has this thread fallen out of favour?

no idea
seems a bit pointless

inspector_monkfish

1.5345 trading now

neilbond007

inspector_monkfish wrote: »

10:39 12May09 GBP/USD Hits 4-Month High, Eyes $1.5374

LONDON - Sterling has hit a four-month high against the U.S. dollar Tuesday morning and should soon be in the vicinity of its January $1.5374 peak.

The currency pair has so far reached $1.5306, which is above the Jan. 7 peak of $1.5274. If a daily New York close above the latter level can be made Tuesday or Wednesday, then this year's $1.5374 high point, made in January, will again come into the spotlight.

This chance to go higher comes as the pair fell back to but held at $1.4975, the 78.6% Fibonacci retracement of January's decline, on May 7, as correctly forecast by this column a couple of days earlier on May 5.

The ensuing break and daily close above the psychological $1.50 zone, followed by a push higher to the then $1.5247 May high, showed that a valid break above the $1.50 resistance area had been made.

After all, this was the fourth attempt to do so and, according to Gann
theory, the fourth try is very often the successful one. On the past three occasions when cable got close to or just above the $1.50 area -- on Jan. 16, Feb. 9 and April 15 -- it failed dismally and dropped the next day.

This time around the current advance has clearly managed to break and, more importantly, stay above the $1.50 zone over several days, reinforcing the current uptrend.

Minor support is seen around Monday's $1.5071 inside day low. However, a fall through there would put into question the current advance. Further support is seen around $1.50 and at $1.4975, the 78.6% Fibonacci retracement of January's decline.

Daily oscillators, such as the Relative Strength Index and Slow Stochastics, continue to rise in line with the GBP/USD exchange rate but are getting increasingly overbought.

It should be noted that from a risk/reward point of view, buying sterling versus the U.S. dollar at present levels does not make sense.

At 1035 BST the currency pair was trading at 1.5278, up 156 ticks.

That, makes excellent reading!

sitcom123

This is getting too much for me, I may have to lie down in a dark room with a wet cloth on my brow if it goes any higher today. I am buying my $ any day soon now holiday in 17 days and cant make up my mind should I buy now or wait.....

inspector_monkfish

neilbond007 wrote: »

That, makes excellent reading!

thought you would like that...

Crabman

inspector_monkfish wrote: »

no idea
seems a bit pointless

If you'd like to look up a few posts at my comment, the point of it should be quite clear

jackieblack

neilbond007 wrote: »

I have! I woke up at 7am local time!

Oh, well done! (I thought the time difference was greater )

neilbond007 wrote: »

As for being a man of action this is the first time that I have been awake in order to trade at this level. I missed the boat Friday as I was out of the office. And they wouldn't let me trade at the weekend.

Fair enough, ( I'll let you off then! )

neilbond007 wrote: »

I'm on the phone to them now!!

Whoo hoo! A decision! :T

inspector_monkfish

Crabman wrote: »

If you'd like to look up a few posts at my comment, the point of it should be quite clear

cant be bothered
just tell us