Posts by "rkkashmir"

Everyone, let's take a step back and take a deep breath. Any movements in the market today should really be just fpgotton. Very thin trading conditions allows for unexplained movements in select pairs.

Look out further than the next 10 minutes. Of course gbp/usd will go lower. But this week there is a string of data which is set up for gbp positive. The question is, has the market factored this in with the 500 pip rally in gbp off it's lows.

Also, the eur/gbp pair. Just a week ago at 0.9020 analysts were pounding the table for 0.91-0.93, and possible parity (believe it or not). Now, AFTER the pair has broken down in the near term. these same analysts are pounding the table for 0.87/0.84. They may be right who knows.

But what I do know is I don't need a weatherman to tell me which way the wind is blowing today. I need a weatherman to tell me which way the wind will blow in the future. For example. just read these guys regardie aussie. In asian session today, when it fell below 0.92, they were coming with "justifications" as to why it fell, and why it would continue lower and underperform. Now that the pair has rebounded throughout the day, the same people are pounding the table with "justification" for it's upward movement, and calling for tests of 0.9325, 0.94 and calls for parity yet again. Folks, I can do what they do.

And this is why we are all here reading and contemplating what Ashraf has to say. It doesn't always move in his direction on the day we want it, but many more times than not, and with advance analysis, he has proven to be correct.

Yeah, I'll agree euro and gbp may trend higher in the (very) short term. But we all know in FX things change in a heartbeat. Stay the course, do not overleveredge and undercapitalize, allow things to work out, and you will be fine.

Good trading...

I meant i feel gbp/usd is 300 pips too high

Ashrad, Your thought on Gbp/Aud as a sort here at 1.7634

Thank you.

spec: those large players you reference are levitating cable through their cartel-like manipulation of eur/gbp, which BTW started its decent this weerk well before any economic data had been rel.eased from UK. That data was mixed at best.

The uncertainty short-term with eur is the sole cause of the cartel's elevation of cable to these levels. Money is fleeing euro and has to be reallocated elsewhere in europe. CHF is the logical choice, but perhaps the fear of SNB intervention helped the cartel to pimp cable through a 200 pip drop in eur/gbp.

Ashraft-

I saw this Tweet from John Kruger: CABLE: Something of a default winner of late with the current top standing at 1.6357. Chatter is circulating of Gbp becoming a safe haven.

Safe Haven? From itself?

Well that would certainly explain the rather bizarre trtading eur.gbp.

Your thoughts please, and great call on Cad.Jpy. I guess part of that pairs gain is usd.jpy's loss