EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
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Any sniff, and I mean any snikff, will immediately but eur/gbp back on the defensive, allowing the Pounder to SPIKE while usd rallies.
Simply amazing, astonosishing, and blatantg manipulation on The Pounder for two straight days now.
Ridiculous and blatant manipulation.
We'll see if USD can get another sniff. If so, trust me, eur/gbp will mysteriously and suddenly start falling in order to prop The Pounder.
Exact repeat of pattern earlier in the day.
The ket you wrote was "then it turned". Your right, eur.gbp bounced back to .8950. But then, myhsteriously, as the USD started tgo rally, eur/gbp started dropping. And the more the rally in usd, the more the manipulators shorted eur/gbp in order to prop gbp/usd. In facvt, at one point eur/usd dropped 60 points while gbp/ujsd GAINED pips.
And I don;t wantg to hear anything about good economic data, or an official hinting of pending rate hikes.
The economic data was mixed at best. And there is not going to be any rate hikes in the UK until very late this year at best . EVERYONE knows this.
The movement in eur/gbp was a function of blatant manipulation. Frontrunners got in yesterday knowing what was going to be "hinted" regarding interest rates. It is the timing and intensity of tghe eur/gbp selloff which made it blatant manipulation.
You are probably right that there will be no rate hike in the UK for some time to come, but in a way that's not the point.
It's about people's perceptions,sentiment, reactions, anticipations, etc., not just the actual hard news. I'm sure Ashraf has said this kind of thing before, but if not, other commentators have.
The market is the market and it doesn't have to be rational. Its pockets are deeper than yours and mine.
@PippedOff: manipulation - isn't this all part of the business though?
Another way of looking at EUR/GBP: Someone on another board, whom I respect although he says he only trades technically and ignores fundamentals (I don't actually believe him fully on that, but never mind), called for a drop in EUR/GBP today based on his reading of daily charts. He thought it _could_ fall as far as .8839 based on his technical levels. I could see what he meant (knowing roughly how he trades), although from a fundamental point of view, I disagreed with the trade.
I have therefore been watching this pair therefore with interest today. He seemed to be right, then it seemed to turn, but now it's well down again. He may not get the full move, but he will have got a good part of it (and taken some off the table). He's a clever guy. Now when I try to trade in the way that he says he does (or my reading of it), I only have limited success, which is why I think he uses more than technicals. This is why I started getting more interested in fundamentals & intermarket analysis & global macro type approaches. I still only have limited success :-) but I hope I am at least beginning to understand the market a bit more.
I don't know for sure if what you say about manipulation is correct or not. I just assume that it can happen, and if it can happen, it probably will happen. I guess that being a (small) trader means learning to be aware of this and surviving it anyway.
And there is no way they will be raising interest rates in the UK.
Bottom Line is the move was blatant and has been manipulated since. The more usd strengthens. the more they sell eur/gbp to prop gbp/usd. It actually was rising while eur/usd was falling.
Im long usd/jpy from yesterday, holding eur/usd short from this morning and gbp/usd short from yesterday wit 1,6330 S/L. Sold gold yest. it was a good one but only because I've had good informants like ashraf or chris vermullen. Do you update your views on twitter at all??
You have been right all along today and I can see why are pippedoff at times. I wasted my time onGbp/Usd all day onlyto breakeven, jumped on the Eur/Usd and that has made me some pips. Thanks for your input