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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smjones. Thanks and welcome.
Taha, I'm still bearish GBP. 1.64 resistance and even as high as 1.65 but this should retest 1.61 and 1.60
Ashraf
Ashraf
As I see it, The funding currency will always gravitate to the lowest interest rate. Right now, that is the Yen at .10 and then the USD and the CAD at .25. The problem with the dollar is that the very moment that the Fed even whispers a Hawkish word, the dollar looses that appeal. Until that time, the Dollar is a cheap funding currency. Personally, I don't see how there could be any hawkish talk in the near future. Now that the new government of Japan says they are not going to intervene so much through the BOJ, I think the Yen is going to continue to drift upward, until that stance is recanted. I think they will of course change their minds, because Japan is primarily an export country and a strong yen is devastating to their exports.
On a side note, I wonder what will happen with the KIWI, It seems to me, they are in a similar boat as the US, with the large deficit spending, only they already have a climbing interest rate.
as for usd carry cuurency invested in aussie denominated asset what do you think of futures of carry trade in australia when the usd carry trade will vanish? it looks reaaly improbable that sterling will take place as a carry currency.
i am thinking about swiss franc to be the next partner in the carry trade scheme but the funding won't come from usd.
your opinion pls
Happy Eid for you and all muslims . I would like to know do you still recommend to sell the pound and which curreny do you prefer to buy it now ? .
Thank you and Happy Eid again .
Taha
one question reading your book: in recent years USD/JPY was positively correlated to $SPX: how do you see EUR/USD at 1.58 and USD/JPY at 87-90 by year end being a possible outcome? Do you think that the previous pattern I mentioned USD/JPY- SPX500 will be broken this time?
Thanks for your answer,
P
I can recommend forexfcatory site too . it is the fast one and it has charts for the economic data realse .
Regards .
Taha
You can also get very good real time feeds like Dow Jones and Thompson from some of the brokers out there, with only a free demo account. I don't know if it would break any forum rules to list them , so I won't until told it is ok.
I have found that it would be a bit dangerous to trade directly from any news announcement, though. I have always had better success in waiting for the smoke to clear a bit and then trading the reaction afterward.
It has also been my experience that news really does not change a trend and unless the trade is very short term, the news has little impact on less volatile time frames.
BTW the statements by the new government in Japan have certainly added to the yen strength and the overall unusual FX behavior. This was an excellent article.
A friend just recommended this site to me and as I have followed Mr. Laidi's analysis for years and also from another broker, where I started years ago, I am very glad to have subscribed to this site.
Thanks and Kind Regards, Scott