Looks like the Goldman-backed Cable Cartel is on vacation, allowing eur/gbp to be bid over 100 pips off it's lows from late last week. Perhaps they were exposed and are laying low. Or perhaps they have moved on to another pair...
Chloe-flat going into US and CAD GDP reports. Succesful scalping on cable and aussie. I have open orders to sell eur/gbp at higher levels and to buy aussie at significantly lower prices (for a bounce into RBA interest rate decision next week.
You won't believe it but I went long cable at 1.6120 and closed at 1.6148. One minute later it got blasted down 15 pips. I couldn't believe it-the Cartel is working in reverse so far today and are BIDDING euro/gbp. Euro was due for a bounce. It is oversold and everyone is shorting it.
I also went long aussie sub-0.8900.
I have limit orders to sell euro and gbp at significantly higher prices should we get a massive short squeeze in front of the U.S. GDP numbers. I don't know how FX will react. An above expectation number could be construed as "risk on", or construed as USD positive.
Therefore I am laying low and will let it settle out for next week.
There is an awful lot of pessimism regarding euro. A good time for the Euro Cartel (lol) to squeeze some shorts and run stops by bidding eur/gbp.
Goldman-backed Cable Cartel doing their thing, pounding the offer of eur/gbp to destroy euro while keeping that Bastion of Safety gdp/usd buyant. Didn't S&P call the Cartel's bluff early in NY session yesterday, destroying cable for 150 pips in two hours?
Poor Aussie. No Cartel to protect it like sterling has with Goldman.
I was just reading fundamental analysts saying aussie will be .96 to parity in 6 months-something about the yield supporting the downs. Tell that to Aussie longs right now.
BTW, these same anaylsts will be calling for .8750 soon.
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ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
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I also went long aussie sub-0.8900.
I have limit orders to sell euro and gbp at significantly higher prices should we get a massive short squeeze in front of the U.S. GDP numbers. I don't know how FX will react. An above expectation number could be construed as "risk on", or construed as USD positive.
Therefore I am laying low and will let it settle out for next week.
There is an awful lot of pessimism regarding euro. A good time for the Euro Cartel (lol) to squeeze some shorts and run stops by bidding eur/gbp.
I was just reading fundamental analysts saying aussie will be .96 to parity in 6 months-something about the yield supporting the downs. Tell that to Aussie longs right now.
BTW, these same anaylsts will be calling for .8750 soon.
They've got an easy 60 pips of eur/gbp to offer to pimp cable higher