current markets

[ukwill]

With the dollar showing signs of strengthening (as recent Cable figures illustrate), and the Eurozone forecasts showing no signs of recovery until at least Q1 next year, is now not the time to make a few $$$ out of the decemeber dollar futures market?

[limpsfield]

see this thread

http://www.pistonheads.com/gassing/topic.asp?h=0&a... trading

the question as ever, with a drop of >10% for GBP/USD over the past six weeks is how much more is left in the short to medium term? I can see it at 1.7000 but any oversold rally could be quite a scary one if you are short I think.

[ukwill]

limpsfield said:

see this thread

http://www.pistonheads.com/gassing/topic.asp?h=0&a... trading

the question as ever, with a drop of >10% for GBP/USD over the past six weeks is how much more is left in the short to medium term? I can see it at 1.7000 but any oversold rally could be quite a scary one if you are short I think.

Thing is, the US has seen the "green shoots" of recovery for a fair while now, whilst we in Europe have seen just the start of the downturn. There are potentially so many negative factors against sterling (and the Euro) that I think there is still a fair bit left to come out before the year end. I see no reason for a sterling rally against the dollar this year.

[limpsfield]

ukwill said:

limpsfield said:

see this thread

http://www.pistonheads.com/gassing/topic.asp?h=0&a... trading

the question as ever, with a drop of >10% for GBP/USD over the past six weeks is how much more is left in the short to medium term? I can see it at 1.7000 but any oversold rally could be quite a scary one if you are short I think.

Thing is, the US has seen the "green shoots" of recovery for a fair while now, whilst we in Europe have seen just the start of the downturn. There are potentially so many negative factors against sterling (and the Euro) that I think there is still a fair bit left to come out before the year end. I see no reason for a sterling rally against the dollar this year.

I agree with you on that and I am sure we will see it lower than where we are now around 1.7600. It's just the drop has been so severe - about four positive days for the GBP since the beginning of Aug, that I reckon if we do see a short covering rally happening it could move a few hundred points very quickly which can be a bit painful. Anyway who knows - best of luck whatever you decide.

[ukwill]

limpsfield said:

ukwill said:

limpsfield said:

see this thread

http://www.pistonheads.com/gassing/topic.asp?h=0&a... trading

the question as ever, with a drop of >10% for GBP/USD over the past six weeks is how much more is left in the short to medium term? I can see it at 1.7000 but any oversold rally could be quite a scary one if you are short I think.

Thing is, the US has seen the "green shoots" of recovery for a fair while now, whilst we in Europe have seen just the start of the downturn. There are potentially so many negative factors against sterling (and the Euro) that I think there is still a fair bit left to come out before the year end. I see no reason for a sterling rally against the dollar this year.

I agree with you on that and I am sure we will see it lower than where we are now around 1.7600. It's just the drop has been so severe - about four positive days for the GBP since the beginning of Aug, that I reckon if we do see a short covering rally happening it could move a few hundred points very quickly which can be a bit painful. Anyway who knows - best of luck whatever you decide.

non-farm payroll figures look weaker than expected - no doubt the day traders will enjoy the small USD dip as a result?