{quote} Well that's the way I'm reading the TA too Delta1One. Might be completely wrong but as you say, the MM is in check and I've "almost" made up the DD in other trades this week. Just seems like a good swing possibility to me although I did get in way too early. One thing for sure, Mr. Market will show us as always.
We'll know we've reached a peak only after we'll have pass it (too late). When this bird has to fall, it is very fast, due to swap cost no one like to hold short for ages. Carry trade is rewarding and build strong and robust support area. But when it comes time to take ships no one like to see the benefits gained from carry trade positions disappear.
Historically M chart saw sharp sell-off on 2008.06 and 2011.08. Add 3 years again to this series and we're getting close.
Off course a break-out may also be in the cards. But I would say RSI should first take some rest before climbing new highs on the way to the sky.
Logically we'll have some news tomorrow that we can start to short from now, the market may try to test a support from where we could expect a decent bounce on next rate hike.
lol true. hard to short this animal. may break 8800 today. it is going to happen eventualy. rbnz should give it to the markets. there is nothing they can do.
