We hear in the UK (but only now that there is larger-scale conflict between Hamas and Israel) is that Biden’s administration sent Iran a massive amount of money a few weeks ago. Some in the media are calling this appeasement - which we have a bad perception of historically of course.
Most of the west considers that if Hamas is not destroyed they will do the same thing again. And if they’re only damaged they’ll be doing it here next.
But it’s very hard to think of Biden sending troops or bombers into anyone else’s territory anywhere in the world. OK, a US carrier group is now deployed into the eastern Mediterranean but still…
Inverted yield curve, treasuries rising, inflation not coming down. It all sounds like a recession is coming and major crash with it. And all those crazy tech company valuations will get wiped back down where they belong.
I think we’ll be visiting closer to 2500 within the next 12 months.
It was another ugly day and the risk-on currencies reflect that, a little hope was a late day rally, this might signal a good Friday, but if it does happen it will just setup another chance for a Black Monday
@FOK…I told you a while back that the dollar was weakening and even provided a timeline, but you dismissed me. I hope you are not holding an empty dollar bag from your dollar pair trades. It is weak for the pair you are trading, GBPUSD. It will likely remain weak for some time. It is not weak across the board though. It is a buy for USDMXN and USDPLN in a week’s time.
Not sure if you are trolling me for an angry response or what
You gave the warning on 9/11 with timeline of 8-weeks; this is now week 5 and GBPUSD has gone down 450 pips, retraced 150 pips, and now gone down again.
Trading GBPUSD short is to sell GBP and buy USD, this means USD is strong, I’m not sure if you understand that.
Also, this is Dennis thread, and he has USD in #1 spot, which means strong, and GBP in #8 spot, which means weak.
You really need to post a chart to show how the dollar is weakening as per your claim; I certainly don’t see the fundamentals changing enough for the GBPUSD price to recover to the level of 9 / 11 let alone make any gains above that.
Until then, you remain dismissed, good trading to all.
I am seeing lots of up and downs but one clear up trend is CHF/JPY , this is in a multi year up trend and over the last three weeks we saw after a pullback a bullish hammer and now two weeks of follow through and breaking to new highs. The phrase " The trend is my Friend" is playing out well for this one
No change to this stepping pattern down, 1280 still looks like where we are heading, it may take several weeks or could happen on Monday and that would be a Black Monday
