DislikedYet another crappy meandering day. Cable and Euro are stuck in the same range they've been in for months. Perhaps this is a sign of things to come. We are in an era of unprecedented globalisation, when world economies are more inter-dependent than ever, the US slumped and the rest of the world followed. Perhaps the end game is monetary union.
I hope this isn't the start of a long term pattern of less forex movement otherwise there's little future in currency trading for us trend followers.Ignored
Monetary Union ? I can't see the U.S. accepting the Euro as their currency even though the Belgians now own Budweiser. Imagine a Brussels Finance Minister telling Americans that interest rates are going up and to tighten their belts.
Imagine the French allowing some gum chewing American with pearl handle revolvers and a ten gallon hat raising the tax on French wine...
Nope, monetary Union follows a pooling of philosophies and a narrowing of culture gaps and we are centuries away from that despite McDonalds opening in exotic locations. If anything, culture gaps are widening as the U.S. hangs on to guns, god and hatred of gays and hostility towards foreigners while the rest of the world moves forward
We might not get there during the US Session but we're going to get there. If we close US today below 2.0100, we're going back down tomorrow. Then again tomorrow is Friday and they sometimes do exactly the opposite on Friday. I'll probably be looking for a short entry around 2.012x.
