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.
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