Did take a few shorts against USD this morning, successfully. Now everything has retraced. GBP is in a really interesting spot right here IMO. Took something out of it but I could make a case for it already having bottomed or close to it. Or maybe it's just the Euro being so weak that the crosses are coming into play. Watch out for the change up that looks like a fastball. You'll swing three times before the ball gets to the plate.
Not a lot of trading from me so far this week, been away on a break to Wellington NZ and was on the 5th floor of an apartment block in the CBD when the big 7.8 earthquake hit
Yes I was wondering about you. I don't have a tv hooked up so all I saw was that it had happened from CNBC online and the Nzd reacted a bit. I didn't realize it was that strong.
The south Island got it pretty bad luckily no population centers this time, it was big any nearer Wellington we would have been history.. (the vid isnt me)
It seems like the momentum has shifted a bit away from the USD. GBP on the move. Aussie still struggling, which is the opposite of what I've been seeing forever and ever it seems. Usually it's been Aud and Nzd out of the gate first on rallies
https://www.gregmckenna.com.au/mark...bability-marine-le-pen-will-french-president/ Hugh Hendry is betting on an EU breakup and a ‘very high’ probability Marine Le Pen will be French president November 16, 2016 Greg McKenna Markets If you want a strong view on the global economy and markets right now, look no further than Hugh Hendry, founder and chief investment officer of the $200 million Eclectica hedge fund. Hendry told the Reuters Global Investment Summit overnight that his fund is betting on the break-up of the EU in a trade he says could deliver 30-35% returns to his fund. The reason he’s taken the bet is that Hendry believes National Front leader Marine Le Pen has a “very high” probability of becoming French president at next year’s election. Le Pen herself said after the US presidential election win of Donald Trump that his victory “made possible what had previously been presented as impossible”. Hendry also noted that Dutch far-right politician Geert Wilders is doing well. These political trends could lead to the break-up of the EU. “The biggest risk to the global economy is the acute and impending political crisis in Europe, which monetary policy does not have the tools to resolve” he said. Hendry told the audience that the analogue for the break up of the EU is Britain’s withdrawal from the gold standard in 1931. Read more … Get Greg’s overnight wrap of all the moves and his outlook for the day, 6 things traders will be talking about, and his daily look at the Australian dollar and where it’s headed. Subscribe here … About the Author Greg McKenna Greg is a trader, behavioural finance/economics guy and technical analyst. His trading methodology is based on a combination of these factors, more than 25 years experience of profitable trading and simple common sense money management and trade execution techniques.
Yes that was my thought also when I saw it break down. Thanks for posting the article. Change is happening before our eyes. Exciting in a way. Or scary I guess, depending upon ones view.