@ Sunbrella - your posts got me thinking.......
GM what a slow week - I guess that's whay Sonic's crystal ball told him to take this week off for his course!
€ range ~190 pips and currently -125 on the week; UJ's range ~160 pips and +70 & €J's range ~160 pips, currently -10. The main mover has been the Swissy as a proxy for the US Dollar - range 230 pips and +110.
So we have dollar strength after reasonable data AND comments by some Fed officials that they can see an end to QE..... Take this in the context of the new PM & BOJ officials wanting a weaker Yen to aid their economy which is in deep shit and I don't yet see that UJ is YET ready to head south - IMO more likely to continue to move towards its next resistance - the Aug 2008 highs ~110, putting €J into that 138 area of its 2009 highs.
I am reminded of the famous comment by the great economist and trader John Maynard Keynes...
GM what a slow week - I guess that's whay Sonic's crystal ball told him to take this week off for his course!
€ range ~190 pips and currently -125 on the week; UJ's range ~160 pips and +70 & €J's range ~160 pips, currently -10. The main mover has been the Swissy as a proxy for the US Dollar - range 230 pips and +110.
So we have dollar strength after reasonable data AND comments by some Fed officials that they can see an end to QE..... Take this in the context of the new PM & BOJ officials wanting a weaker Yen to aid their economy which is in deep shit and I don't yet see that UJ is YET ready to head south - IMO more likely to continue to move towards its next resistance - the Aug 2008 highs ~110, putting €J into that 138 area of its 2009 highs.
I am reminded of the famous comment by the great economist and trader John Maynard Keynes...
"The market can remain irrational longer than you can remain solvent."
Trading Levels with WRBs