dollar is breaking out ... get long currency vs the dollar .... should put pressure on gold ....
Comments
RyanLatorre
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Whats up man. I think the USD strength this week is going to stem from whether or not the market shrugs off Amari's comments about the yen. I feel if U/J has a correction, the USD weakness might spread to the rest of the market. We'll see though. Overall I'm still USD bullish after it's performance the last 2 weeks. Market is definitely changing. Worst case scenario U/J has a nice retracement and we get better entry levels.
Anand_Shah
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good points .. my instinct tells me it will cause some temporary jitters ... check ZH has a chart of his various comments over time ... i reckon market has figured out amari's game but some may well fold here ..
BOJ has a meeting on Wednesday ... so heads up on that .. you never know amari may be lowering expectations before Kuroda acts again (expectation is that it will be a non event and that there is nothing left to do). If he makes any commentary about buying foreign assets usdjpy will take off like a rocket ...
Anand_Shah
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lol this puppy is breaking out ... its driving all the currency pairs ... ive noticed a lag between impact of $ on gold ... takes a few hours after a dollar rally and then gold gets slammed ... weve already done quite a bit on gold today and we are coming up to the 1350 low recently hit after the implosion as well as being a sleepy friday afternoon so who knows ... although i reckon gold will break down aggressively soon ...
Anand_Shah
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Any thoughts on dollar action next week? Personally, I think its got legs ... the very fact tapering is being discussed by Fed officials/ex officials/hisi to me says they are trying to prepare the market for whats coming in the next few months ... perhaps a slow reduction in QE at first ... market isn't going to wait for the announcement ... it's reacting now ...
RyanLatorre
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Oh yea bro! The $$$ signs are just too much for my eyes to handle haha A FOREX Maverick