Bob
You don't sleep much. But as always, your comments and insights are totally appreciated.
For the moment, I am just looking to play a reversal which means trades at the DP on the AudChf, AudUsd, AudCad, AudJpy, EurAud, GbpAud, EurNzd, GbpNzd, Nzdcad, NzdUsd, NzdChf, Nzdjpy.
cmeade2
nanningbob wrote:cmeade2 wrote:Bob
You are probably not up yet, but it looks like the Aud Nzd retracement that you have been looking for may be coming.
cmeade2
I have been playing aud nzd weakness so they are not the ones bothering me. I just get nervous when my trades go outside S/R 1 unless I now what is driving price like that. So my only problem xxx.JPY went from a dip in the UT to the strongest currency on the board. That made absolutely no sense to me other than some real big boys are running everyone off from their buy positions so they can get in first. OR they dont want JPY to weaken their currency any further and we are going to be caught in the middle of one nasty currency war. In that case I never have been in one and dont know how to react to it.
JPY has no choice they have to reduce debt to gdp raio to survive. They only cover govt expenses with 1/2 coming from tax revenue the other half has been borrowed from their people which is almost dried up and they have been doing this for 24 years. No one is going to buy JPY bonds from the outside with those numbers so the BOJ has to print money buy up debt now. If they are not allowed to do that the repercussions of the world's third largest economy going under is .......... you really dont want to think about it. Multiply Greece by a 100 and you can get the idea.
The aud and nzd sinking so quickly like it is shows me that China is really fudging on its figures and is in bigger trouble than we think. If the aud and nzd stabalize into a price range then it is not a problem but if they continue to go south because China economy is retracting instead of just lowering its growth rate. Egads. Just to let you know some numbers about China, Hong Kong reported an increase of 7% of exports from the mainland. Chinese figures were 74%. They found out the difference was money being shipped out of the country and being converted to other currencies and then being shown as imports and exports of goods. That little story is just breaking. Money flight out of China has been a story for a while but how big is it really??? Gonna be one ugly summer. If Europe pops up any more bad news and the USA Congress and President continue their intransigence, dang where is there an island out in the Pacific to go hide too? Wonder what the price of land is up in the Northwest territories of Canada?
