As suggested there on Friday “if” we saw an expected turn upward in USD ( or at least…I was expecting it ) this is clearly a “swing low” at a fairly significant area of support.
This could possibly be a very significant “low” for USD, marking “the bottom” of what could turn out to be a very powerful new set of “higher highs” and “higher lows”.
All trades suggested on Friday – moving in the right direction.
Otherwise, The Australian Dollar continues to baffle as “risk is clearly expected to come off” here in coming days and weeks.
The Nikkei taking a bump up this morning – and that’s “all it is” a bump up, as you’ll recall – nothing moves in a straight line for long. This too…soon shall pass.
We’ve moved from an environment of “buying the dips” to now “selling the rips” so…..you better get your head wrapped around it.
Stocks can and will “fall further” over the coming weeks, if not months.
Over the weekend I’ve had incredible interest in the “Members only / paid services” area – thank you. I’m only a day or two away so for those who’ve already contacted me so I will get back to you via email as to login / site address etc. The payment system will be Paypal based so please be aware and maybe even look ahead. You’ll need a paypal account in order to subscribe/use credit card. It’s a snap to set up.