Wednesday, May 06, 2015 10:30:42 PM
DX finishing a c wave?
CAD follows CL closely and is up 6% right now. i have to believe those gains will be retraced - why else have i been flipping DWTI since $73?
AUD is up 7% even after lowering interest rates. there is no catalyst, just hope, so CROC (ultra short AUD) is looking tempting.
EUR is at two month highs despite QE, the grexit drama, *and* the inevitable ireland/italy/portugal/france fallout. $EURUSD closed just below the 100day the last four days. the trading range has narrowed and ADX +d/-d is in a pinching pattern, with +d on top. obvious resistance is obvious.
JPY is on vacation for the week - that but chart has become so very narrow that it's movements are marginal.
looking at DX from last aug to today, there is a clear 1-2-3-4-5-a-b-c. as to the accuracy of that count, who knows? the wave 4 low is 93.39 but commodities get that 10% buffer, so right now (just under the 100day) is a good place as any.
between profit taking in ancillary currencies (cad/aud/nzd) and EUR turning lower, DX will have no choice but to melt up. DRR is how i will play it should my funds be free.
all predictions wrong or your money back.
CAD follows CL closely and is up 6% right now. i have to believe those gains will be retraced - why else have i been flipping DWTI since $73?
AUD is up 7% even after lowering interest rates. there is no catalyst, just hope, so CROC (ultra short AUD) is looking tempting.
EUR is at two month highs despite QE, the grexit drama, *and* the inevitable ireland/italy/portugal/france fallout. $EURUSD closed just below the 100day the last four days. the trading range has narrowed and ADX +d/-d is in a pinching pattern, with +d on top. obvious resistance is obvious.
JPY is on vacation for the week - that but chart has become so very narrow that it's movements are marginal.
looking at DX from last aug to today, there is a clear 1-2-3-4-5-a-b-c. as to the accuracy of that count, who knows? the wave 4 low is 93.39 but commodities get that 10% buffer, so right now (just under the 100day) is a good place as any.
between profit taking in ancillary currencies (cad/aud/nzd) and EUR turning lower, DX will have no choice but to melt up. DRR is how i will play it should my funds be free.
all predictions wrong or your money back.
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