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Trade Against The Retail Herd 24th Mar
What's new today?
GBPUSD has made a strong move back into the neutral zone after some strong selling yesterday. EURUSD made a similar move but remains in the long zone even though it has dropped back considerably. We have a slew of PMI data coming out of the EuroZone from 4am EST onwards. Retail Sales out of the UK are likely to have a strong impact on retail positioning, Core Durable Goods Orders at 8:30 am EST is the big number out of the US.
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Provided by Pivotfarm via the Technical Analysis blog
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Oh dear, I'm still "wrong" in my Eur/Usd short. Just not as "wrong" as I was last week. Well, we'll see.
It's just a matter of time before the dollar starts running to the 140 level against the JPY again. No way it stays down here in 80 land with all the crap going on there, they will have to have a weak currency to recovery.