From a currency perspective, yes this is true. Cable and Euro
have had a reasonable run against the $ but have struggled v CHF
& YEN. There is a big move to the safehavens of CHF & YEN
as carry trades
In terms of what bloggers etc say, I am not swayed either way by
this and dont read any of it ........but thats my approach!
Yen wise, this is the one that suprises me. I went long last
week and took 50pips profit today but was hoping for 100. It then
for some reason rallied sharply v the dollar even though the SPY
rallied which is very unusual so there has been some decoupling
Retail investors are still near record longs in YEN and whilst I
am not initiating a new trade (as its more disrectionary and I want
to avoid these types of trades), it seems ripe for a fall v USD .
So USDJPY should rally
Retail investors near record longs, positive divergence on the
dailies and there seems to be an 89day or so cycle in USDJPY that
kicks in around 3rd/4th Sept which in theory should be a cycle
low
Right . Good week and time to enjoy the weekend
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From a currency perspective, yes
The currencies, Cable and Euro, have not followed SPX as ...
Posted by vimal on 3rd of Sep 2010 at 05:16 pm
From a currency perspective, yes this is true. Cable and Euro have had a reasonable run against the $ but have struggled v CHF & YEN. There is a big move to the safehavens of CHF & YEN as carry trades
In terms of what bloggers etc say, I am not swayed either way by this and dont read any of it ........but thats my approach!
Yen wise, this is the one that suprises me. I went long last week and took 50pips profit today but was hoping for 100. It then for some reason rallied sharply v the dollar even though the SPY rallied which is very unusual so there has been some decoupling
Retail investors are still near record longs in YEN and whilst I am not initiating a new trade (as its more disrectionary and I want to avoid these types of trades), it seems ripe for a fall v USD . So USDJPY should rally
Retail investors near record longs, positive divergence on the dailies and there seems to be an 89day or so cycle in USDJPY that kicks in around 3rd/4th Sept which in theory should be a cycle low
Right . Good week and time to enjoy the weekend