USD Set For Short Term Move – Higher

The USD is long overdue for a counter trend move higher, which is likely to start – literally this minute.

As usual ” they never make this easy” as “of course” you’ve got FOMC / Bernanke talking AGAIN here early this week.

At times I do marvel at the manipulation as even just this morning I’ve read a couple of headlines where “The IMF ( International Monetary Fund) Suggests Tapering A Bad Idea” coupled with usual market chatter leaking out (via U.S Media) that “Tapering To Start As Early As Sept”.

It’s pretty impossible for the IMF and the U.S Federal Reserve to even have opposing views – as the  IMF’s largest contributing and “influential” member country / representative IS the U.S and Ben Bernanke so……here we see it again – complete and total nonsense keeping things as confusing as possible.

Any move higher in USD will likely be fast n furious ( as to wipe out short termers ) and likely short-lived so I would advise caution here. Catching a counter trend move is always risky, and it’s clear that USD is in a well-defined downtrend.

I’m playing it across the board, as well remaining LONG JPY as these trades are well in profit now.


6 Responses

  1. timfrec July 29, 2013 / 8:55 am

    you are craaaazy … getting long BOTH usd and jpy … I’m creeps rolling on the floor … getting naked

    • Forex Kong July 29, 2013 / 9:02 am

      You havent been doing your homework! Tim!

      Both of the securrencies represent “safe havens” SO……..when “risk sells off” (AUD , NZD , CAD) safe havens are BOTH bought!

      check the charts on these examples….short AUD/JPY as well short AUD/USD – and tell me what you see.

  2. David July 29, 2013 / 9:19 am

    I’m with you on here Kong, on Long USD anyway, but as far as JPY goes, I’m long USD/JPY… I like it here and will keep adding slowly on the way down if need be for a longer-term position.

    • Forex Kong July 29, 2013 / 9:28 am

      Sounds good to me – very good asone can’t really be worried about USD/JPY long term going anywhere but UP!

      Im in several pairs and looking great here as of last night – USD/JPY is on my radar for a big ol BUY at what ever level lower she goes.

      Great trading David. I’m off to the beach !

  3. rolo July 29, 2013 / 4:06 pm

    nice move Kong on the AUD/JPY short thanks and now patiently awaiting your next move(s) when the crosses are right

    • Forex Kong July 29, 2013 / 4:23 pm

      Thanx Rolo. I caught JPY strength several days ago and layered in on several pairs before catching a “decent” move here today.

      I’m gonna need to lighten up a bit moving in on FOMC crap – but still see “reloading” all the same trades here shortly.

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