Hi guys,
Looking at the Daily Currency Barometer - we are building toward some nice moves this week. Most of the currencies are between 60 & 40. That does not happen very often. The CAD should continue to gain and the AUD will likely lose ground. The rest however, are a mixed bag of 'what if'? The only thing we know for sure if that currencies cannot stay at or near the 50 level for very long. We will start to see them break above or below the 50 level (up or down) over the next few days. The moves will result in 'strong directional moves' (i.e. nice strong trends). Watch key levels and trend lines for trade entries.
Do NOT try to fade moves this week. This week 'should' be very directional. Now we wait and watch.
Looking at the Daily Currency Barometer - we are building toward some nice moves this week. Most of the currencies are between 60 & 40. That does not happen very often. The CAD should continue to gain and the AUD will likely lose ground. The rest however, are a mixed bag of 'what if'? The only thing we know for sure if that currencies cannot stay at or near the 50 level for very long. We will start to see them break above or below the 50 level (up or down) over the next few days. The moves will result in 'strong directional moves' (i.e. nice strong trends). Watch key levels and trend lines for trade entries.
Do NOT try to fade moves this week. This week 'should' be very directional. Now we wait and watch.