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- 2006-7-3
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发表于 2008-5-13 09:11
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I have remained on the sidelines for GBPUSD for some time, but I think I may get back in this week for a possible surge in volatility on Friday. Considering the highs the pair keeps winning and the steady bullish sentiment behind interest rate differentials and the technicals for spot itself, it is likely that normal conditions will keep GPBUSD on a slow climb. However, a really big indicator could shake everything up (as usual). In Looking for a fundamental trigger for a big move, you won't get anything out of the UK. On the other hand, the US docket is spotted with a few interesting reports (housing numbers and durable orders). The main event through is Friday's GDP report. So many analysts and traders have been wondering how low the dollar can go and what could turn its fortunes. We have ridden out payrolls, manufacturing and sales number with nary a 30 point reaction. However, I don't think the market can ignore growth report. Expectations are riding high (3.2% annualized vs. a 0.7% in 1Q). If the print matches the outlook, it could dull the reaction, but it would still put the dollar on a quick and broad move.
Looking to trade this, I will watch the reaction to the housing and durable numbers leading into Friday's event risk. My main focus will be the 240-minute chart and the steadily rising trend channel. If we break below the channel floor before Friday, I may consider a short. However, I would prefer getting long dollars after confirmation of a strong rebound in growth. Looking at the dollar index, the world's largest currency could really use some support right about now.
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