Euro (€) Currency Thread

waynehayes

Hmm. Now at 1.1334. Not a good 24 hours for the quid.

rafter_2

1.1279 now, grim stuff.

toothpick

dammit should have bought last yesterday at 1.33 for my spending money in spain

inspector_monkfish

09:01 05Jun09 GBP seen under heavy selling pressure

(GBP) GBP seen under heavy selling pressure as the European session gets underway with cable a full 6 big figures off Wed's highs and EUR/GBP almost 3 big figures off its lows at 1.6030 and 0.8860 respectively. GBP has been hit by the 'double whammy' overnight of another senior minister quitting PM Browns cabinet, and not for family reasons, coupled with an expected poor showing in European and local election voting that took place yesterday. Cable seen in real danger of breaking below key psychological support to test towards 1.5920 (low last Fri) with additional downside pressure coming from those players that were late to join the GBP rally and who are now looking for a narrowing exit.

inspector_monkfish

bigjoneh wrote: »

What the hell just happened?

The pound just dropped from 1.152 to 1.143 in 1 minute.

see my posts 1808, 1809 and 1810

inspector_monkfish

1.1305 trading
(0.8846)

inspector_monkfish

rallied to 1.1385, from a morning low of 1.1275

inspector_monkfish

toothpick wrote: »

dammit should have bought last yesterday at 1.33 for my spending money in spain

1.33?
are you sure?

inspector_monkfish

nice bit of market jargon for you all here... try and pick the bones out of this one !! :rotfl::rotfl:

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13:21 05Jun09 EUR/GBP Market Expected To Reach 30-Day Upper Bollinger

[12:20 EUR/GBP TECHS: Market Expected To Reach 30-Day Upper Bollinger] London,
June 5.

EUR/GBP continued the recovery from .8576 (Wednesday"s low), trading to
.8867 (today), ahead of the latest corrective activities. Note that the 30-day moving average (now at .8843) has been taken out today, furthermore the 200-day moving average (now at .8694) failure to subdue gains on Thursday further reinforces the upside potential. .8722 (10-day moving average) should underpin the market; this should stem near-term corrective activities.

The expectation is for eventual resumption in gains towards the 30-day upper-bollinger-band (.9064, 1.96 standard deviations) over coming sessions. Note that the 10-day lower and upper bollinger-bands are converging, so actual volatility is decreasing hence the aforementioned gains are likely to be orderly. Caution is advised; however, as the 10-day and 30-day moving averages remain negatively aligned.

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basically, its just a complete load of old b0ll0x, but they think it might be bad for the Pound !!

Eager_Saver

now 1.14366 - all is not lost