Morning/afternoon,
Time to write something...
Yesterday was a hard setup day because of low volumes/thin liquidity.
And as obvious, today not much happening before NFP.
During intraday when eurgbp moves first around same amount than majors or more (eurusd/gbpusd and usdjpy) is about positioning for the move.
But its about chfjpy which has the same role than eurgbp (acting as lift/booster) but between different ccy pairs. Namely usdjpy and usdchf.
There is good relation between all these ccy's. Eur is pegged to chf, usdchf and usdjpy has extremely high neg. correlation against eurusd and gbpusd and chf and jpy are both safe heaven currencies. What a mess.
For move upside on eurusd need chfjpy to trigger offers above 117.35 and stops above 117.45.
Time to write something...
Yesterday was a hard setup day because of low volumes/thin liquidity.
And as obvious, today not much happening before NFP.
During intraday when eurgbp moves first around same amount than majors or more (eurusd/gbpusd and usdjpy) is about positioning for the move.
But its about chfjpy which has the same role than eurgbp (acting as lift/booster) but between different ccy pairs. Namely usdjpy and usdchf.
There is good relation between all these ccy's. Eur is pegged to chf, usdchf and usdjpy has extremely high neg. correlation against eurusd and gbpusd and chf and jpy are both safe heaven currencies. What a mess.
For move upside on eurusd need chfjpy to trigger offers above 117.35 and stops above 117.45.
They think they are smarter than I am.