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Don't Forget the Yen
Much ado about USD rebounds during falling markets, but JPY strength still outperforms USD.
The trick for usd shorts is how to use eur/gdp to prop both eur over 1.45 and gbp over 1.62 until the calvary is called in during European session, for the daily four-hour grind higher/
1.6200 being vigorously defended by Gdp/usd bulls. It only blew through there 15 minutes ago.
Hmmm, economic data from UK coming out later. Pair is set to rocket 150 additional pips on news someone already knows about.
Also, only an hour plus away from the daily four-hour eur and gbp Eurpean session grind higher.
If short those pairs, be sure to have those stops placed!
I am here to help and give. Even on vacation. regardless of "am" or "pm".
In fact, GBPCAD looks good. a great hedge for short cable is long GBPCAD. if UK data is better than expected or "not bad" then we could see 1.70 in GBPCAD whose stochastics look VERY POSITIVE
Ashraf
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b.
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Ashraf