Some constructive charts would have me looking to short USD against a number of the majors. The EUR has put in some healthy work over the past few days, as well GBP – although fundamentally speaking getting long either doesn’t do much for me these days. Of course that can be said for just about all “paper fiats” during this “race for the bottom” but….a guy’s gotta make a living.
Sitting in cash can be a touch challenging, especially during times of sideway market action, but as far as forex goes – better that than having your capital tied up and grinding away.
Monday’s are notoriously uneventful so…..we’ll look to see how asia performs here later this evening.
It appears that JPY has at least stabilized for the time being, but in this case – no trade is a good trade, as it’s too late to get short – and pretty tough to get long.
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Is being all cash the same as 100% long the US dollar?
Not when you’re Canadian living in Mexico no…..
You figure it out
Actually – it raises a good point….a great point really.
We all need money on a day to day basis, in order to pay for things in our daily lives.
Inflation may not be seen in the “charted moves” of the USD via silly things like $dxy etc… but I have a sneaking suspicion people in the U.S are feeling a bit of a pinch no?
Perception and reality ( of a given currency and a given individuals circumstances – vary greatly) as the Canadian dollar vs Mexican peso treats me fairly well.
Purchasing power is ultimately what matters.
Welcome to IBC! I just started an Oanda demo account. Any advice or tips for a beginner would be great. I already enjoy reading your posts and look forward to learning more from you.
Got myself stopped out on the AUD/USD and NZD/USD short. Kept them on a tight leash with a small position. Still holding the USD/CAD short but it’s not looking great at the moment.