The move in USD on Friday was certainly the kind of thing I like to see. We’ve now consolidated / moved sideways for 3 or 4 days now, and “should” see a resolution of this kind of action – early in the week.
Seeing that equities have continued to “churn” near all time highs, and on the cusp of some pretty big news / data coming over the next few days ( and weeks with “potential WW3 as well the “U.S debt ceiling breached” ) a solid move cannot be far away.
I’m off to the beautiful “Isla Mujeres” this morning and likely won’t be back until late Monday night. I feel that positioned “short USD” as well “long JPY” in general is the right place to be for the moment – and don’t plan to be looking at this trade until Tuesday.
Elections in Australia over the weekend will also provide some movement in AUD Monday, and I’m assuming that movement will be “up”.
If you can believe how old the article is (Feb 10, 2013), and make note of the level cited in EUR/USD you may even get a laugh.
https://forexkong.com/2013/02/10/long-eurusd-at-1-3170-watch-me/
It’s amazing that these levels are hit over n over again.
I will look to take this trade come Tues.
Sun ‘n sand for a day er two on this end……enjoy everyone!
written by F Kong
The intraday volatility of the yen is really something.. back to another gap up.
Hey Robert……yes these pairs make big moves, and also provide big gains……
In general you can do better with them if you knock down your position size accordingly….and don’t let the day to day volatility freak u out.
Hi kong. I have taken some profits on fri. Its just annoying to see another gap up with usd bearish and yen even more bearish!
Hey Robert, I took some profits on Friday also (Yen Shorts). Wouldn’t you think it’s a good thing (as opposed to bad) that the Yen crosses gapped up so that you can reload those shorts? I’m ecstatic I took some profits and got a chance to get reloaded at even better levels.
Yen Sept Futures contract looking somewhat ready for a reversal higher.
Kong, I was happy to hear your comments on Colombia and other emerging markets. I know this isn’t a secret, but something that’s always worth keeping in mind is that many people in the “developed” nations got rich by owning hard assets when credit expansion started to take place in said nations. Now, said nations have extremely high debt loads and almost zero population growth……not much opportunity in my opinion. Countries like Peru, Columbia, China, etc have low debt loads, stable enough govts, and have not gone through much credit expansion. So, in my opinion there is great opportunity there. Every so often I peruse real estate sites from Colombia but I really don’t have a game plan yet. I know some people from there and many that have traveled……all say it’s amazing. Looks stunning.