Accumulation or Distribution Phase of next leg? Does it make sense that we were accumulating in November and have been going thru distribution this summer? Anyway, as expected volume has been well below average this summer. Amazes me....where do people go?
No, tomorrow it'll be Ben's speech in Denver. If (when) he confirms that rates will remain on hold for the remainder of 2006, then you'll see a surge north in EUR/USD.
Yes. You could be correct on that one. Or is it already priced in all these longs in the market? Seems as though alot of data was priced in this week. Maybe he thinks Friday mid-morning would be a good time to let a little monetary policy slip in. Holiday coming and all.
Here's another loonie one to noodle on. I apologize for the size but it dates all the way back to 1974. Remember what was going on in 1974. I think inflation may have been a tad high. Now here we are 32 years later and we have hit the 78% make or break reversal area. Are the inflation gods sending us a message? Is inflation bad for commodities?
Fed Bank of Chicago President Michael Moskow two days ago said the central bank may need to resume lifting borrowing costs because inflation remains a threat.
See picture. Please keep in mind that I use Tradestation and there long term data is subject to ERRORS.