EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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If you have time, could you post a few of your thoughts on why the fx is SO in step with the major US indexes these days on very short time frames?
One current example: The one minute GBPUSD and one minute YM are virtually indistinguishable.
Many thanks and hope you and yours are doing well
Do you find any reasons at all to be bearish the EURO?
Thx.
" have long said EUR acts as the anti dollar (first currency to rally) during escalating negativity in the dollar." Sorta had that part
" ECB rates being higher ... the euro will be boosted. " Somehow I just haven't been able to see how their rates are that high comparatively...maybe that's part of my issue.
"and not debasing its currency via quant easing, the euro will be boosted" 'debasing' is a good word and they certainly haven't been as guilty of that as US - but still aren't they in the race to the bottom?
"Theres no housing crisis in Europe (except spain) " Good point
"banking is sick but not as sick as the US. " Maybe I've been operating with bad information or interpretation, but my impressions of the overall differences were that they were barely impeceptable and very mutable.
I appreciate your perpspectives Ashraf.
I simply do not understand the EUR's strength.
It's not an overwhelming bias or desire for its weakness.
At this point I wish it were that simple.
I have for weeks tried to come to some understanding and haven't - yet :)
Also re the yen game, couldn't the equities 'delude' themselves higher for another 6 mos
Have a great weekend.
re "Look for 129.60 and 129.20" - So you don't see EURJPY going below May 17 low (~127.00)?
"weak EURJPY " ?? Please elucidate. Seems the EUR is holding up fairly well against JPY.
Maybe it would help if I knew what would you consider a strong EURJPY? Do you have downside 'targets' and timelines for EURJPY ? Many thanks.
Tim
What risks, in general, then do you see in holding long Yen pretty much across the board? Many thanks.
Tim