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Internuts Engulfed by Sellers


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The peso's getting killed. It didn't just gap down, it's been sinking from there since the open almost 3 hours ago.

 

While it's way too early in this week's session to know anything for sure, the peso is now actually much closer to its multi-year low than it is to the annoying IT trading range it was in for almost a year. EUR/USD, which in currencies is followed like the Dow, is now pushing 1.2750. Another 100 pips or so and it's at an all-time high.

 

This weekend, Rayok posted a chart showing the LT down channel that appears fully intact. On it, the recent IT range is just a pause within the channel that broke down where expected. Also this weekend, K-wave posted a long-term chart that clearly evidences a potential long-term bottom for the peso. This chart is USD/CHF, which has a LT average correlation with EUR/USD of at least 80%. Thus, if USD/CHF does turn upwards, the peso itself will almost certainly do the same. Doc's work agrees with Rayok, the LT downtrend is intact. K-wave! You're presently outvoted two to one! :P

 

I don't look too closely at the long term myself because I trade intraday. The IT is my LT. Because I don't, I hope you two (Rayok and K-wave) keep posting your views as new evidence comes in, either confirming or aborting your current views. Thank you both of you for the charts and posts. I appreciate it. (You too Doc :grin: )

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yowsa !

 

thanks for posting those charts wndy !

 

I'd completely forgotten gold was opening....the result of outdoor physical labor I guess....endorphins in the brain... :D

 

Well ! It appears that we stoolies aren't the only ones who've been mulling things over this weekend, hmmm?? Some serious money appears to be choosing a direction...

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Phone lines are jammed between the Fed and the Ministry of Finance.

 

Leeson frantically calling "Mr. Yen" and Fukui.

 

"You said you would intervene!!"

 

"Do something, you idiot!!!"

Chairman Fukyoui, taken aback slightly for being called and idiot, recomposes himself and responds "We no rike shrub! We no jam untir after erection! Japanese Prutoclats on board!"

 

[uSD/JPY now at low of day with 106 handle, after being propped up, in defiance of all other major pairs, until about an hour ago.]

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