Quiet in Asia apart from few stop-loss runs
- Gold triggered stops below $1300 as USD bulls return ahead of NFP
- USD/AXY also busy with solid demand reported across most regional currencies.
- AUD/USD stops triggered below prior lows at .8910 after low PPI readings.
All about the NFP lottery tonight and the fact that the USD bounced back so strongly after MSCI-related selling earlier in the week is certainly impressive. Looks like the market wants to buy the USD so bears should keep their stops tight.
Hi sean if gold were to go lower from here. Won’t the usdjpy go higher?
Probably Muneer, in fact very likely.
So in your experience. Whats keeping you in the usdjpy trade if u know gold is going lower.
I don’t think Gold goes lower. I think it goes much higher. But getting timing right is hard part.
AUDUSD is forming a falling wedge (2-3-4 hr charts). But the wedge’s falling slope is so steep, a lot stepper than in textbook. Do we have any hope for a small reversal here?
Not yet I don’t think, we need bit more patience before catching the knife