That trade went exactly as predicted, but like a moron I forgot to set up a price alert on my Forex platform! Now the EUR/GBP is at 0.8455 and I could have made close to 4 grand but no, too busy doing something else. Xelite777 (that's me), you freaking idiot!
The only event that could possibly reverse the Yen is the very important Japanese Gross Domestic Product report, due tomorrow (November 13) at 6:50PM New York time.
I just saw some released data from Japan (negative orders) and Australia (higher confidence). Minus variable for Japan stock market, plus variable for AUD. JPY: if the data points to deflation then higher JPY; if government would print then lower Yen (I doubt the printing). So I am pondering what would be a good trade for this? Minus EUR/AUD, MINUS USD/JPY? EUR people are snoring now. That leaves USD/JPY. The news seem to me to be either flat or bearish on USD/JPY?
Do you think the increased confidence in AUD will change the selling trend? Thank you tj, what info sources do you follow for currencies? For Asia? Thanks for the help...
I was thinking the same question as you did about AUD. My conclusion was that it is NOT in support of the trend (with the exception of maybe EUR/AUD - both have troubles). The trend looks bad for AUD, so others might use a rally to sell. News: check with forex brokers, they generally have it for free. I thought to start a site to put such news and trades there. PS: The year next to your screen name points to a lot of experience.