July 3, 2016
I have been asked by some of our Subscribers what MA means by ‘Cable’ like in his June 30 Market Talk blog. Here is the definition for ‘Cable’:
Cable is a slang term used among Forex traders referring to the exchange rate between the U.S. dollar and the Sterling (Genuine) British Pound (GBP). Since the GBP versus the US$ is one of the most commonly traded currency pairs, the term is heard frequently in trading rooms.
At the risk of offending some of our Subscribers: 1) The protesters are wrong to try an overturn BREXIT; 2) and the Queen is right, asking for calm and quiet sober thought; and 3)The Scots are ill advised wanting to stay in the EU, they need to stick with Britain and the GBP if they want prosperity.
The Sterling GBP
MA: “For all the yelling and finger pointing at the Brits, the politicians say look at the pound and that proves the “leave” camp was wrong. Yet, what they fail to grasp here is because Britain has its own currency, the pressure is funneled into the pound whereas the crisis takes shape in Europe” [my emphasis].
[In the GBP,] our Monthly Bearish to watch is 13660, and with the pound trading at the time of this post [The post of June 30 - Monthend] at 13431, this remains a key resistance point. This means we have 13660 and 13680 coming into play today. Indeed, the 13680 is also a Quarterly Bearish along with 13970. Therefore, if these are elected today, this means, long-term, we are looking at a retest of the 1985 low [the GBP worst level 13190 in 1985] which many people though just a few months ago was a totally crazy forecast.
According to MA the pound’s closing on Friday at 13275 which was below 13660 warned that the long-term is in motion. MA: “We should see the retest of the 1985 level near par and slightly break it as soon as 2018. Even the oscillator on the quarterly level has plenty of room for such a decline.”
Read the full June 30 MA Blog entitled “The Pound and the Euro for month-end” - Here
GBP - July 3, 2016 Breaking News
MA: “The pound has remained in a sideways band and is trading near the low of the decline. Our Weekly Bearish Reversals were 13540, 13507, 13340, and 13044. After that, we have reversals in the 128-127 level, 125, and 120. We have elected the first three closing Friday at 132.75. Technically, we have support down below 130 for now. The pound should continue to press a bit lower this month.”
The Euro crisis & Euro/US$ Adjusted Cash
MA: “The markets have been extending this crisis because we are dealing with a very critical long-term event which may result in economy chaos globally by 2018.
From this May high, the euro has elected two Weekly Bearish Reversals and now we have 10790 and 10705, You will see this is tends to be supported technically for that uptrend line lies at 10750. There is some additional technical support at the 10600 area. Nonetheless, we also have a Monthly Bearish at 10710. From a technical perspective, a closing below the May low of 11098 will be very bearish. At the time of this posting [June 30], the euro is trading at 11104.
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It is tougher than ever to make money during the worldwide economic chaos at hand and that is why we together with our Analytic Team spend our time researching analysing the markets (with the help of Socrates and MA). With the result that last Friday morning we alerted our Paid-for FDNN Subscribers of our Gold trades and which instruments we bought. Over time we will let you know how profitable these trades have been for us and our Paid-for subscribers.
Yes, Friends it’s all about profitable trading!
Stay Tuned for the Socrates Trader Level 2.0 launch and our Next free of charge FDNN letter
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From Mining Interactive Corp. in Vancouver Canada
1) To our American friends Happy July 4th; 2) To our German friends, we will see how it goes against Belgium today and then maybe - - “Iceland, Iceland Über Allen in Europa”; and 3) To all - - “Happy Investing”.
Nick L. Nicolaas
Direct: +1 (604) 657-4058
July 3, 2016