The Weeks Views in the Markets....
This week should see some choppy action in the currency markets and some much needed volatility returning to some pairs.
Now that pundits seem quite certain of the Dollars demise we should see it turn around a bit from its sideways motion. Whether by force of trader positions or risk aversion the Dollar is due to rise. It is in better shape than most of the other currencies that are correlated against it and this will be made quite apparent in the not too distant future.
I am looking at Gold to fall in the not too distant future to the mid 1200's before staging a further rally. There is a lot of bullish talk coming out around the precious metals again and this is simply foolish. The gold bugs never cease to amaze me and get so excited around any sort of movement in the price of gold. By no stretch of the imagination are we looking at a return to the bull market in gold yet. I suspect that it will come but not when everyone expects it or thinks that it has bottomed.
I am still focusing on my trade of the year which I suspect will be in the Dollar and soon. Keeping an eye on the USD/CAD and Oil should confirm my suspicions.
Right now I am short Oil and will be looking to go long the USD/CAD.
Stay tuned to the blog for the latest updates around our EUR/USD positions and I hope that you are enjoying the gains.
Now that pundits seem quite certain of the Dollars demise we should see it turn around a bit from its sideways motion. Whether by force of trader positions or risk aversion the Dollar is due to rise. It is in better shape than most of the other currencies that are correlated against it and this will be made quite apparent in the not too distant future.
I am looking at Gold to fall in the not too distant future to the mid 1200's before staging a further rally. There is a lot of bullish talk coming out around the precious metals again and this is simply foolish. The gold bugs never cease to amaze me and get so excited around any sort of movement in the price of gold. By no stretch of the imagination are we looking at a return to the bull market in gold yet. I suspect that it will come but not when everyone expects it or thinks that it has bottomed.
I am still focusing on my trade of the year which I suspect will be in the Dollar and soon. Keeping an eye on the USD/CAD and Oil should confirm my suspicions.
Right now I am short Oil and will be looking to go long the USD/CAD.
Stay tuned to the blog for the latest updates around our EUR/USD positions and I hope that you are enjoying the gains.
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