Forex This Week May 12....
The question that is revolving around most traders minds is when is the volatility likely to return to the market.
I am sad to say fellow trader that I do not think that it is going to happen any time soon. Although the US Dollar seems to have turned the corner as a result of Draghi's comments on the EURO last Friday. Those that have been following me all along knew of this likely event weeks or months before it happened. I have been saying it for a long time. The only difference this time is that they painted themselves nicely into a corner where they do not have much choice other than to depreciate the currency rate over time.
If you really think about the countries that comprise this area it is not really surprising. i would have been quite surprised in the face of being responsible to the people of the area had he NOT done what he did. Dooming them to more and more pain.
The EURO will be a key trade to short and we should have some more signals coming very soon. The USD/YEN should do well and so should the USD/CHF as the Dollar benefits from the EURO's weakness.
The AUD/USD looks like it is getting ready to weaken again in the short term and we should see some appreciation of the USD/CAD. So stay tuned and lets see how the week unfolds.
I am sad to say fellow trader that I do not think that it is going to happen any time soon. Although the US Dollar seems to have turned the corner as a result of Draghi's comments on the EURO last Friday. Those that have been following me all along knew of this likely event weeks or months before it happened. I have been saying it for a long time. The only difference this time is that they painted themselves nicely into a corner where they do not have much choice other than to depreciate the currency rate over time.
If you really think about the countries that comprise this area it is not really surprising. i would have been quite surprised in the face of being responsible to the people of the area had he NOT done what he did. Dooming them to more and more pain.
The EURO will be a key trade to short and we should have some more signals coming very soon. The USD/YEN should do well and so should the USD/CHF as the Dollar benefits from the EURO's weakness.
The AUD/USD looks like it is getting ready to weaken again in the short term and we should see some appreciation of the USD/CAD. So stay tuned and lets see how the week unfolds.
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