Price is the only indicator.
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long eur/jpy, gbp/jpy, usd/jpy 11 replies
Where exactly is the dollar headed? 3 replies
Just another boring martingale system that is headed towards doom 12 replies
Is Japan headed towards recession? 45 replies
Where is the Euro Headed? 0 replies
Quoting Spectre2006Dislikedgunning those stops at 116.40
Its going into high 117 handle.Ignored
Quoting Spectre2006Dislikedi didn't expect the market to open this high..it gives a bullish tint on the open, with failure of the stops to be taken out past few minutes, the bullish tint is hard to destroy unless the market continues to trend down for the rest of the session. The bullish USD trade is getting overextended. But the risk is another 120 pips to the upside versus jpy. Gold is nearing its historical high but it hasn't so a conformation move by gold approaching its high, will nudge usd higher, but failure at upper resistance will bring it down.
options expiration, fed on the hill, leading indicators, all important events in the USD calender.Ignored
Quoting Spectre2006Dislikedits all preemptive conclusions, look for price action to confirm your view, otherwise look at other possibilities. If the tick for tick price action confirms things, stick to your original model or view.
things are heating up further, and further..watching the newswires now.Ignored
Quoting Spectre2006DislikedIsrael just bombed the PLA headquarters in Gaza. It favors the bullish tint, on the short term basis, but you have to look at other markets. Oil/GOLD/BONDS, the news from the middle east might just be enough to hit the stops at 116.4 and 116.6, then the usd/jpy enter a new time/sales point of view or trading range.
But still, you have to assume that profit taking will occur in these other derivatives. The equity indices in the USA, are in options expiration mode. They might be susceptible to short covering rallies. In order to rally equities these other markets have to back off a little from historical highs on a daily basis, to short term support.Ignored
Quoting YardieDislikedDoesnt gold going up generally means the USD goes down? how comes both are going up in sync this time around? The markets doesnt seem to be following its usual patterns.Ignored