It looks like the ol USD has taken its slow trip across the top – and has now started down. The usual correlations should be in play with trade ideas long EUR/USD, GBP/USD as well short USD/CHF and USD/CAD.
The Kiwi (NZD) has already left the station , and AUD looks to be struggling at a well-known area of resistance.
I think it will be interesting to see how JPY performs in the face of renewed USD weakness, and I am particularily interested to see what stocks do. I’ve got little expectation that we’ll see much more than continued “flat” action at best, or perhaps a nice lil “pop” as retail comes in here at the top.
I’m no stock picker – but imagine you’ll need to be as things move forward.
I could sound a lot more excited about it – but I’m not.
I’m walking softly here – and keeping positions relatively small, til I see a bit more.
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I’m thinking the USD is about to make it’s next leg higher. I bought EUO in a spec accont today
Already taken 50 pips outa the EUR and 60 outa the GBP. Just waiting for some sort of a breakout to snatch up some more pipage. 😉
This is good good good.
It’s my thinking that this dollar move will be significant, In fact – very significant over the coming months. We’ve seen the USD rise along side equities for sometime, but I believe the turn is now upon us ALTHOUGH – this time around I don’t expect the usual correlation of “dollar down equites up” to last too long – and envision a time quite soon where we see both fall together.
Stay tuned!