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Posts by "montmorency"
678 Posts Total by "montmorency":
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Posts by Anonymous "montmorency":
May just be indicating a pullback though, rather than a reversal.
Hm....on a weekly chart, that's exactly what it IS trading in. Mind you, on that basis, it could go to about 1.69, so this still wouldn't be good news for dollar bulls.
Well today's dollar rally seems to be faltering, and cable's plummet has been arrested for the moment.
Whether it will regain the dizzy heights of ɭ.64 in the near future remains to be seen.
- Just to add to the conspiracy theory, I wonder if they have contributed to Gordon Brown's re-election campaign?
Anyway, the UK Inflation report took out my EUR/GBP longs :-( Not one of my better trades. (But then, none of them is ...).
- If you really believe that, you should be thanking them for yet another shorting opportunity.
- Analysts can call for what they like; the market decides.
- In what way is Gold getting spanked?
- What is the ultimate goal of the "Cable Cartel" (as well as World Domination of course...)?
Speculators can make money in both directions; why would they want to stop movement?
"The Cable Cartel's defense of 1.6300 for cable and subsequent 20 pip pimping of cable is clearly depicted in 5 min cable chart."
-Alternative explanation: "Support at 1.63 held today. It might not tomorrow, and then again, it might, and 1.64 might be achieved. Depends on the market."
OR "Cable continued its long uptrend which began in late December (or early January depending which way you look at it), after the relatively brief retracement on Friday...".
(I hope the latter isn't actually the case, but it's as plausible as a "Cable Cartel").
Maybe it was never going anywhere.
My long EUR/GBP is not looking so clever at the moment...I think it could continue on down to 0.8720-0.8750 territory, maybe 0.8700. Surely not lower, in the short to medium term? hm....