Good morning everyone, hope you are fine. The start of the week was a bit 'creepy' to say the least for the BoJ fans, who saw the USD/JPY collapse in early trading to 81.30, modestly regaining ground to current 82.10 later on. The USD has not been helped at all by the useless and every time more ridiculous G7/IMF meetings, which used the overall rhetoric to refer to the current FX war situation and basically say that 'fast moves in FX were not desirable'. Having said that, this and next week are (perhaps) the two crucial weeks for the USD till the end of this 2010. Why? Don't ask me that, it's just a gut feeling. The too much talk of the QE2 by the Fed is just making everyone be one-sided at the moment, and when that happens, it certainly is not easy to try and trade the markets in a technical way, it's better to wait for the dust to settle before going in full again.
Posted via email from MT4
No comments:
Post a Comment