Rhody Trader
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One of my favorite forex calendar trading patterns has been EUR/JPY rising in December. I've played it very successfully for a few years now, this year included. The cross has been up every year in December since the Euro started trading.
After last week's Yen surge, though, the pattern might be getting broken. EUR/JPY is under water for the month now (opened at around 141.40). I was already out before the cross collapsed - fortunately - but I'm watching to see if a rebound and continuation of the pattern is going to take place.
Granted, we've got some time left, and not that far to go to finish December positively. I'm a bit dubious, though. Won't be too much trading going on the next two weeks and the charts don't look all that great. The Euro is in an area of resistance against most of the majors and the Yen doesn't look like it really wants to collapse any time soon.
Any thoughts?
After last week's Yen surge, though, the pattern might be getting broken. EUR/JPY is under water for the month now (opened at around 141.40). I was already out before the cross collapsed - fortunately - but I'm watching to see if a rebound and continuation of the pattern is going to take place.
Granted, we've got some time left, and not that far to go to finish December positively. I'm a bit dubious, though. Won't be too much trading going on the next two weeks and the charts don't look all that great. The Euro is in an area of resistance against most of the majors and the Yen doesn't look like it really wants to collapse any time soon.
Any thoughts?
