May be so but there's not much reason to be long either. And the trend is still the trend till it ain't.
Gold poised to break down again. I thought there was a possibility of panic and a rush to the yellow metal, but it looks like that's passed for now. I'm short Euro from 1.1342 after getting stopped above 1.14.
If anyone can find any reason to be long Euro right now, please raise your hand. Because I can't find one. And I'd actually prefer it if I could.
Wondering if theres any correlation to usdjpy. It has pushed higher, but weakness in copper suggests risk off to come.
Not much buying of anything so far today. Except as you mentioned last night, possible risk off coming, Yen/Swissie.
Closed out Euro short at a small loss. Euro keeps going to the edge of the cliff and pulling back. I'm wondering if there are lots of options being taken off when that happens.
Taking a shot here long Usdcad at 1.3042. It's broken the most recent downtrend line, as Euro etc. have broken down. There's a nice pennant on the hourly. I believe the move has caught traders short USD.