Hey guys.
I just wanted to throw in my sentiment, (hopefully it will be same as all you guys) for the week.
So we have USD sentiment for long. According to the COT report, cause everyone is pretty much bearish.
And we had them correct last week, as the results showed they turned out as the weakest for the week. So making it a healthy correction. And fundamentally, nothing has been put out there that they are turning any weaker, like some real bad figures or rate hike talk to be pushed further.
We just have to wait to see a turn around or find a good point to take an advantage of a good run up. I haven’t checked, but is there a possible catalyst this week for the USD?
GBP. According to Philip we have some signals. Up on all except with USD. I just will be watching them for any breakout to the upside. Sizeable.
AUD. I know their not really in the cards guys. But I have them in mind. Look…for as strong as they were and have shown, I am pegging them as the underdog. I kind of view them as a sleeping giant. If the Comms decide to come out and play (risk comes back on) I kind of think it will be them leading the way.
I could be way off and wrong. Honestly. But that’s what’s going through my mind. Has been.
So, I would get in on one of those 3 scenario’s. Waiting on those opportunities.
Guys, I’m working on something. It’s gonna take some time. I tell ya…after the last 2 weeks with the NZD shenanigans, I’ve been wondering a lot. Also as I see the numbers I see everyday, weeks, months.
I have some back data to run first. And I plan on showing you what I’m talking about. I want to give proof to some facts. Actually it is a factor. I’m working on a factor that we need to factor in. It has to do with the “who’s dominating” sentiment. That changes. And it’s not always because of a fundamental reason. Things go back and forth. I guess it could be called a technical aspect. But I think it’s something else. I don’t know what to call it. Actually it’s along the lines of my so called “underdog” theory. In a sense, that is.
I believe this to be a factor. Something we need to consider, to some degree. Someone is on top, someone is on the bottom, and that always changes. Sure, over a longer time period we will see some things constant, like the EUR, JPY, but there is some patterns that we need to factor in, on “who’s dominating now, and for how long”.
Give me some time to get all the facts together. I’ll bring you proof, as opposed to randomness.
See you guys in the am.
Mike