Posts by "speculator"

if cable breaches 1.669 we will hit 1.70 in near term with 99% confidence we are at a critucal juncture me thinks

this could easily happen next week if stocks rally next week which would benefit the commodity currency longs vs dollar.

the pound was oversold due to speculation and deleveraging. its likley to trade sideways for a while or fall with a tight range rather than shoot higher. so i think the worst bet is to be bullish on cable. you just need to look at the ftse and see that it has not risen as much as other world indices eg S&P since the bear market rally. so equities in uk have not done as well. so why buy the pound and bid it higher? its more than likely that the huge rally in sterling has priced in all the potential benefits of the recession in the uk easing faster than say US.

cable trading till year end

Side ways trading 50%
bearish 40%
bullish 10%

but dont take my word for it im no specialist

ashraf thanks,

what range have you for the ftse100 and s&p this year.

mo,

i had a look at cable long term charts and normally, such sharp rallies seemed to indicate longer extended rallies and levels rather than corrections down. but fundamentals remain weak and other news may still shock. so i think one reason why market analysts remain cable bullish is probably partly due to this large and fast swing up.

ashraf what is your rationale? is it more of a fundamental reason that you expect 1.75? i dont personally think a weak dollar policy will maintained this year.

the stocks rally is way overdone and due a large correction. so i do see cad to weaken vs dollar. 1.08 was an abosolute winner. i would take some profits now!