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.