Obama is headed for Sweden on Tuesday, then off to the next G20 meeting in…………if you can believe it – RUSSIA!
The uphill battle in looking for global support in attacking Syria looks to be moving as suggested. Britain’s out, and as suggested The U.N Security Council shows no support for the move, as well I believe NATO ( please don’t quote me as I’ve read a million stories here this morning) has also squashed the idea.
This leaves Obama “literally” on his own, as actions against Syria under these conditions would now put “HIM” in breach and violation of International Law.
I’m trying my best to wrap my head around a scenario where this quack shoots “unauthorized missiles” at a country where “proof of wrong doing” is still just a “headline in U.S news” , and then plans to sit around a table with other world leaders at the G20 in Russia – just a few days later.
If this Bashar al – Assad guy is a nut bar, then we’d better create another category of “nut bars” for Obama.
You’d have to be out of your mind to do something like this – absolutely out of your mind.
And, is not the main opposition to Assad America’s arch enemy…Al Queda!!!!…add that to your ‘nut bar’ collection…
Obama to seek congress approval..what now for usd? Down it goes due to risk off n equities to rally?
Yup.
All going according to plan.
This leg down right into Sept 9th type area makes great sense. Then “pending” strike sends USD on it’s “fear trade” higher.
Kong 1 – Markets 0!
I really can’t speak for equities here, as I’ve been trading for weeks now with the overlying theme of USD down AND US Equities down, short of the two day bounce in USD here last week.
The correlation could just as easily “flip again” here, but I’m just stickin with short USD for a call this weekend.
I’d rather see both continue lower but…at this point ( being a large topping process ) it’s pointless to really take sides.
Sideways / churn / down in my view.
Kong, are you bearish the USD across the board or just against certain pairs? The dollar index has a breakout on the chart with a measuring target 100 points or so higher and the USD/CAD does too with a measuring target near the recent highs (indeed it has been in an uptrend for nearly a year now). USD/JPY, EUR/USD, and GBP/USD are at pivots and could go either way in my eyes. Beyond speculation based on your interpretation of the fundamentals (which I understand principally drives your trading), do you see any evidence of bearish order flow for the USD?
I’ve been meaning to address this at some point, and possibly lay out a couple examples with respect to my trading specifically.
I “will do it” – eventually. As I trade from a fundamental standpoint first….100 pips isn’t really of any real concern to me, as I would likely continue to pick of spikes / adding in a staggered order approach.
USD /CAD is a great example as I’ve entered short Aug 26th – and am literally “exactly flat” some 5 days later with “DXY smashing higher in several pairs”. If this pair went 100 pips against me here…I’d just sell more.
So yes….I am very specific with my order size/ position size “per pair”, and when I say “short USD” it can manifest in many trades.
Take me getting long EUR/NZD as well EUR/AUD on Friday for example. Under current conditions ” these pairs as well ” should reflect continued USD weakness.
It’s a mine field Andrew! A mine field I tell u!
Thanks Kong! I appreciate the opportunity to interact with someone up as much as you are for the year. You’re definitely doing something right 🙂
My understanding was he declined the G20 invite – was all over the news weeks or a month ago unless I have my events mixed up…… this could very well be the case… LOL
Would make sense that we see weakness in the USD over the next couple weeks lining up perfectly with PM movements in Sept….. Historically Sept provides the largest % gains in this sector with Nov running second…. So weakness till middle to late Sept…. rally in Oct & then back lower again through late Oct in Nov…..
Still tracking a weekly squeeze in the DXY & looking for a Neg fire starting the first week of Sept…. USD/CAD & USD/JPY also have multiple set-ups here looking for a Neg fire with short positions in both CAD & JPY….. should be a nice 2 weeks ahead of us with the return of the Vacation boys!!!
Cheers Schmed,
Hey Schmed thanks for the addtion of Gold’s yearly movements, as you’ve obviously been tracking it longer than I. I appreciate the correlation input, and also find it a tad “ironic” how these things “magically” tend to line up.
Obama is slated to appear at G20 as I read it.
Again the irony…..an attack on Syria ( however short ) “should” provide the catalyst for markets, when you and I have been looking at this date/area for shifts “regardless” of the news.
Forex markets are very forward looking in my view, as we already knew something was going to happen!
Cheers man