Of Gold Extensions مقياس إمتدادات الذهب
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.
Glad I had the same view on USD/JPY as you do - though I said a bit higher - 92.30's --- I'm learning, which is reflected in my account balance (both ways) --- anyhow --- would not a Chinese rate hike cause a massive case of risk aversion and hence Yen strength across the board? I'm a little hesitant about going against Yen because of China. Obv. the Jap. gov't should be Yen negative, but if China surprises... Thanks for your time - Rob
Where do you see USD/JPY in all of this? I see it testing 92.30s (in coming weeks) with Fed hawkishness, but then again, if risk aversion sets in, I suppose it could drop. Your thoughts are appreciated.
Do you see USD/JPY testing trendline resistance at 91.60's? Thanks
this is going to get ridiculous if everyone goes back and forth - you win some you lose some, and we are "ALL" glad we have Ashraf as a "mentor" no matter what happens - at least I am. Thanks again Ashraf!
Ashraf, thanks for the great analysis on NFP dynamics and USD and JPY - made some pips (70 or so) - could have EASILY been more if I didn't take profits so soon, but I can't complain about taking profits.
Lastly, can I get your thoughts on USD/JPY short/medium-term? 91.00 certainly seems inevitable by next week - thanks again!
Thanks for the heads up tweet on AUD/USD - I managed to get in just as it failed the 50-day SMA on 15-min chart at 90.13. I'll shoot for 89.50 unless you mention otherwise. Thanks again.
I'm in a bit of a bind here with USD/CAD. Long way too high in hopes that BoC would stem the rise by talking down CAD. Even though it was mentioned, it didn't seem to do a hell of a lot. Hedging seems tough as well, because EUR/CAD and GBP/CAD both seem oversold, and selling yen (buying CAD/JPY) doesn't seem great in the event stocks sell-off a bit. Any suggestions, and I don't expect miracles, I know this is like asking you to teach me how to swim after I've jumped in the ocean during a hurricane. Thanks a bunch.