Hi guys, the short term market barometer has some nice divergence and should provide some trade set-ups soon. The AUD and JPY are over-sold and ready for a 'short term' consolidation. The EUR and USD are both should strength, however, the EUR recently pushed above 80, so we may see a short term consolidation before the next push up.
The CHF, GBP, CAD and NZD are all stuck in the 60-40 area. Meaning, no clear bias at the moment.
This is not investment advice, just my opinion(s). Please trade accordingly.
full disclosure it looked like a short and now im hoping it turns soon
riffster21
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@steveb4088, I sat on my hands until the break above resistance. When both are in the same direction, figure out which currency is driving the pair. It's never both. It's always one or the other.
steveb4088
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lol i havnt picked up a guitar in years. Any idea if the EURUSD will turn any time soon. Based on barometer they seem to both be in same direction "this move is strange" would be a good song name lol