Euro Update
I will no take nay position yet
Regards
Catalin
I will no take nay position yet
Regards
Catalin
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Dislikedwhy is EJ falling and UJ rising?...usually yen pairs and usd pairs move in opposite directions.Ignored
Dislikedwhy is EJ falling and UJ rising?...usually yen pairs and usd pairs move in opposite directions.Ignored
DislikedPrior to Aug 15 or so, EJ and UJ were moving opposite for a time because EU was making such big moves down. Rather than being opposite (of late), EJ and UJ still do follow each other, as the Daily charts show, but there are some relative differences that occur because of EU swings. If EU swings big enough, it can indeed make EJ and UJ run "opposite" each other, for a brief period until EU stops changing faster than UJ changes.
At any moment in time, EJ = EU * UJ
This is literally a multiplication you can do. For example, at this moment:
EU: 1.4304
UJ: 106.56
EJ 152.44
1.4303 x 106.55 = 152.4234 vs. 152.44 (always within a few pips).
See the charts below. The August 15th Open prices are marked, and they also multiply within a couple of pips. Overall, UJ and EJ have similarities in shape, but the EJ has fallen far more, comparitively. Why? The answer is the EU chart on the right. It has fallen a bunch over the same time period.
Rule of thumb (at this moment in time) looking at an EJ chart:
Every pip that UJ moves, EJ moves ~1.43 pips.
Every pip that EU moves, EJ moves ~1.06 pips
The reason why is just looking at the math of the prices.
EJ = UJ * 1.43 (or more accurately, 1.4304)
EJ = EU * 1.06 (or more accurately, 106.55/100)
On the chart, over the same period of time, UJ fell ~280 pips, EJ fell ~535, and EJ ~990.
~280 * ~1.455 avg over the time period= ~407
~535 * ~1.085 avg over the time period = ~580
~407 + ~580 = ~987 ... very close to my ~990 on the chart.
(All chart measurements and math were approximations).Ignored