Hi folks,
It’s Sunday night again folks and I just re-realized that I’m still NOT in Costa Rica! Oh well, it’s still good to be back. Since I’m not in Costa Rica unfortunately I don’t have any crazy stories involving swinging from trees or running from swarms of mosquitoes, just here chasing Tank around and following all these charts!
Ok I’m working on the video right now and as of this writing the market hasn’t moved much if any. So I’m still gathering details and information which I’ll have up on the site in a few. But keep your eyes on the market, I feel like this market could be setting up for some changes in the coming week so we might all have something “special” to talk about.
And we’re back. In looking at the markets I don’t see a great video to make tonight because I think the markets are at a crucial point and we need to see how things go over the next several hours to determine how the week is likely to start. I’ve been doing my nightly research and have read until my eyes almost popped out of my head and there’s many interest comment and views out there (always to be taken with a grain of salt).
JPY: One big question on everyone’s mind is “where is the JPY going?” Well that’s a good question and there’s always MANY factors that play into the JPY, as with any currency, but the Yen is a special case. Take the following into account, (click on link to read, and DO read it!)
Need to know about the JPY
USD: The next question we have to wonder and ask ourselves is how long is the USD going to TANK?! Is the refuge within the weakness of the Dollar? If so when will a turn around of this never ending downtrend on the Dollar index turn and give relief for a reversal. Here’s an interesting note, although it’s an article from late last week there’s some very important points made,
The trend of the USD, how long can it last?
USD putting up a good fight (an interesting point made about usd/jpy here)
Also, you pretty much just need to visit Daily FX, there’s LOTS of good reading on there this week. www.dailyfx.com
Like I said earlier, there’s some crucial movements that could take place over the next several hours so it’s going to be a “watch price action” kind of a night to see how things go. There’s little to no evidence at this point, but I’m starting to look for a USD reversal especially against the EUR, so I’ll be trading that one with caution on upward movement. So lets watch the markets this evening and see how things go, if little to nothing happens this evening/night then we could be in for some big movement this coming week. As mentioned in one of the USD articles, the USD would have to rise 3% on the Dollar index to confirm a turn around, that’s a LOT! So we’ll follow the trend but be very sensitive of break outs in either direction on USD pairs, some of that reversal movement could start to sneak around and work it’s way into the start of the week.
Ok, watch and wait and remember that patience is a VIRTUE in this market so put it to use!
Happy pippin,
Jared J.