Posts by "cat0nip"

The Foreign Exchange Matrix is an old book by Barbara Rockefeller and Vicki Schmeltzer.
It doesn't put fx market in perfect perspective.
When you chart stock price, you display price versus sequence ( not "time"!) and assume price is independent of sequence, sequence is a true independent variable.
But when you chart an fx pair, you actually chart the mutual dependency of the members of the pair. The currencies are not independent of each other. Whenever such is the case
you actually need a complex plane.
Thats the simple maths fact.
You could start a paper trade experiment. Just pick pairs at random at randomly chosen level and wait. You will see in most cases that paper losses start to pile up. When you wait long enough with a probability higher than chance losses turn into profits one by one. Such is fx. This holds only if CB interventions are excluded. ( closed system).

I take credit data it could well be that in meet the press Don Draghi refers to measures to stimulate...and so on.

cable short was pretty soon stopped out so i bought GBP.
Still in long wil get out at second hi below 52.
Don't think its technical reaction, could be ECB rate cut coming thursday and another coordinated CB action, too.
BTP yield falling but not hard enough.

pound looks younga than eva

Correct but why is no analyst surprised about his misinterpretation of GBP? GBP is NOT sold off.
PIGS and French german credit data poor but no deterioration seen.
EUR will make it to 1.32