Hi guys, this is a daily chart view of the market barometer. I'll try and post one of these each week. We don't always get a lot of useful info from the daily barometer, but today we do. The JPY is extending up. Remember, this is a 'daily' time frame (think slow motion). The JPY has a LOT of room to run to the upside before it would be considered over extended. The 4 hour view should tell us when the JPY is ready to consolidate longer term. Until then, expect more JPY strength.
The other currencies are headed toward unity (i.e. the 50 level) and they are all currently inside the 60-40 area. Big moves from all of these currencies are building. We don't know when, but they are coming. Look for key price area breaks. We should see some long sustained trends over the next few weeks. Woot!
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
The other currencies are headed toward unity (i.e. the 50 level) and they are all currently inside the 60-40 area. Big moves from all of these currencies are building. We don't know when, but they are coming. Look for key price area breaks. We should see some long sustained trends over the next few weeks. Woot!
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
