The Week in Forex Unfolding this Week.....
Well once again in a lackluster week I gave you the markets to focus on an patiently wait out all ahead of time.
Did you capitalize on them?
Shame on you if you did not. I gave you the farm and you didn't do a dam thing about it? Oh well.
All you have to do is look at the charts and you can see that I was on target once again. I say this without ego or any sort of arrogance because I am not always right just dam accurate in my turning points.
This week is shaping up to be one that should see some movement back in the US Dollar
From its present level I believe it will move to the upside as the week progresses. Not a lot but perhaps enough to make some new short term highs over the 80.00 area.
The central banks are loving this lack of volatility and I doubt that it will abate any time soon. You may wish to trade oil or gold if you want volatility which as you may recall works against you as well as it works for you. So go small if you do.
The Dow and the S&P hit some resistance in the Bull trap areas but this time I think that most traders are not going to take the bait. They have been burned by this sideways momentum for too long. You may wish to go back and cross reference my chart on the Dow again showing the thirty year topping patterns that we have seen in the past. All resemble what we are witnessing now. Just a note to the wise.
If we get any event which stimulates the markets properly then we may see a complete flight to risk off where the dollar should rise strongly for a short period of time.
i don't think we are too far away from that by the action in the YEN pairs. I would book some profits in the YEN pairs and focus more on the Dollar this week which means trading the EURO and the POUND along with the FRANK all against he Dollar.
We seem to be forming a nice triangular break out pattern that may stab the bears first before returning to bullish momentum.
Once again we should be dealing with a stop hunt week so be careful and follow my lead as best you can.
The EURO signal is still going well and if you have an honest broker you should be making some money on the swap .
Stay tuned for more updates.
Did you capitalize on them?
Shame on you if you did not. I gave you the farm and you didn't do a dam thing about it? Oh well.
All you have to do is look at the charts and you can see that I was on target once again. I say this without ego or any sort of arrogance because I am not always right just dam accurate in my turning points.
This week is shaping up to be one that should see some movement back in the US Dollar
From its present level I believe it will move to the upside as the week progresses. Not a lot but perhaps enough to make some new short term highs over the 80.00 area.
The central banks are loving this lack of volatility and I doubt that it will abate any time soon. You may wish to trade oil or gold if you want volatility which as you may recall works against you as well as it works for you. So go small if you do.
The Dow and the S&P hit some resistance in the Bull trap areas but this time I think that most traders are not going to take the bait. They have been burned by this sideways momentum for too long. You may wish to go back and cross reference my chart on the Dow again showing the thirty year topping patterns that we have seen in the past. All resemble what we are witnessing now. Just a note to the wise.
If we get any event which stimulates the markets properly then we may see a complete flight to risk off where the dollar should rise strongly for a short period of time.
i don't think we are too far away from that by the action in the YEN pairs. I would book some profits in the YEN pairs and focus more on the Dollar this week which means trading the EURO and the POUND along with the FRANK all against he Dollar.
We seem to be forming a nice triangular break out pattern that may stab the bears first before returning to bullish momentum.
Once again we should be dealing with a stop hunt week so be careful and follow my lead as best you can.
The EURO signal is still going well and if you have an honest broker you should be making some money on the swap .
Stay tuned for more updates.
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