EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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I left an order in for 1109.5 which finally got triggered this morning, ...but it went up to about 1112, so Chloe got in better than me, unless she killed her order.
But as Pipped says, there was probably an overreaction and there will be a rally back. When the world and his wife are buying, it's probably time to sell.
"though of course we had no specific sense of timing on the discount rate hike."
There are tens of thousands of comedians out of work, Jan. Please stop stealing their best lines.
@Xaron: Gruesse
Conversely, I've made a bunch recently on cable and EUR/USD (Goldmann-Sachs notwithstanding...), and a bit on EUR/JPY (selling into the rallies, not buying them, although both were possible with good timing; my timing isn't all that, so I stick to the simple rule (for the time being) off selling Euro/almost-anything.
Then again, I can't seem to make any money out of EUR/GBP, which seems odd, as a Brit who also knows Europe quite well. Maybe I'm just too close to it. Was wondering whether you are "too close" to USD/CAD to see it sufficiently objectively? Just a thought.
(Also, in my case, USD/CAD has a much bigger spread than either cable or EUR/USD (which is the smallest, with my S.B. broker :-) I know one shouldn't let the tail wag the dog, but it is sometimes a consideration).
I tend to agree with you on tech vs fund (not that reading fundamentals is necessarily easy....). I think it's fundamentals that move markets - just not necessarily in the way people expect.
Technicals working in a bullish market: I had not heard that, but I have heard the expression "There is no such thing as a support in a bear market. Having said that, in FX, one side's falling is another side's rising - not like with stocks or commodities, so it is not so clear.
Do we go long from here, or short down to 1040.....?
Waiting for the word from the man...
Either way we can expect some recovery from today, but then what ...