Has the bear trap been sprung?
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I don’t know about modern mother Theresa but Dennis could well be Forex mother Theresa. He has helped many newbies including me become profitable with this free thread in an otherwise fraudulent environment with many fake courses.
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Thank you for the kind words, let’s all make money together
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what is this crazy market trying to tell us, strongest currency USD is today’s weakest
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Apart from AUD/USD, all the main USD pairs have seen multiple successive higher or lower closes up to last night. Three in a row would be a strong performance: but USD/JPY had seen 5 in a row, NZD/USD 6, and USD/CHF 7. A run of 6 or 7 consecutive higher / lower closes is something that only happens once or maybe twice a year. A pull-back was due.
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Hello Dennis !
I must commend your selflessness over the years. Your contribution to the fx community here,is awesome. Concerning the crazy market, I think is generally believed by some traders that what is happening now is the normal rhythm expected of the market in August because the bigger boys are on holidays. Whether this is another myth or not,this August is no expectation. Winning pips in this month is nothing when compared to the previous months. I’m not a believer but it seems real at the moment. Enjoy your day and good bye.
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oil has broken its downtrend channel, is this a dead cat bounce or is 100+ dollar a barrel in our near future.
I filled up today for $3.21 a gallon,
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Not much happening today
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Not a pair I normally look at but to increase my USD long exposure I have a pending buy order on USD/SGD. SGD’s not the weakest currency out there but it will be OK temporarily.
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the EUR sure is having a good day, is there any news from across the pound to explain or is this just a dead cat bounce
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ugly day for stocks and very different numbers for currencies from this morning
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Things kept getting worst right into the close,
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Powell says fighting inflation will be “painful for American families” well what does he think 50% food inflation and doubling of fuel prices has done to American families
Then we have congress with the Oxymoron named bill " Inflation Reduction Act" which will do nothing but dump another trillion dollars of deficit spending on the economy.
If all this is not enough now biden wants to forgive some student loans, which is nothing more then a stimulus check that can only be used to pay down a student loan, paid for with, you guessed it, more deficit spending. This one has a double whammy, as not only is their deficit spending but it will free up cash for people to go out and cause more inflation.
Welcome to the Dysfunctional States of America
None of us should be surprised that a political leader inspired by socialist thought leaps to expand government spending, government control and government itself whenever any problem arises.
It eludes these people that the money they love their governments to spend is not theirs, its ours.
But what they don’t fail to understand, at least on a sub-conscious level is that the logical extension of their decisions is the elimination of private property and capital. Its a straight line from Marx to 2022.
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