Some of the euro pairs through me for a loop-- crosses with the yen, aussie, swissy. This is because I was wrong on my evaluation that the EUR/USD was going to make a correction from the top of the daily cloud. The EUR/AUD finally got its bearings together, and it is looking good, thanks in part, to the extreme, predicted weakness of the AUD.
The 2 most extreme pairs are the EUR/CHF and the GBP/CAD. When the reversals happen, they are going to be huge.
BTW, the EUR/AUD, as an example, made a huge move UP today, but this is not the type of strong reversal I was alluding to in the previous paragraph. By the time it gets to circa 1.47, it will be wore out and ready to come back DOWN. The GBP/CAD and EUR/CHF have implications of what we saw happen to many of the USD pairs in the past 2 weeks. They made excellent MT trades for those that took advantage of them. The EUR/AUD is one of those deals where you are in and 2-3 days later out with nice gains. The LT radar, though, has still not changed. It is 1.7525.
Many times I prove to be a better forecaster than trader (I Still get my pips.). As an example, I saw momentum waning with the EUR/CHF earlier. Indications were also there that my forecast would be slightly off concerning it. So, I should have just bitten the bullet and got out with about a 40-pip gain. Instead, I am now sightseeing, waiting to report another successful trade, as I sit for the time being on the sidelines and pout-- lol.
Forgot to add, did you see EURCHF made all time lows today (flight from risk etc etc), insane. Im looking for a long opp, but we are just beneath lows from July, so may hang on for a final push lower for a long term trade, i noticed in your commentary you were also thinking long down here if i got that right?
