THE ETERNAL BATTLE TO REPLACE THE HUMAN TRADER
The Never Ending Question Asked by Forex Traders: Which is Better, Man vs. Machine?
Like the short as well around here 9105 JP, UsdChf…regarding Summers, he is both highly intelligent but also quite tethered to his opinions even when others disagree. I think the sudden employ shock is a bad recipe though, surely there can be other ways to tame inflation, taming debt might be one little idea.
USDJPY DAILY CHART… IF I WAS THE BoJ…
Break of 152.99 has not gone far and this suggests the 153 level will be pivotal.
Now I have been writing about the BoJ looking at the same technicals as we do. In this regard, it would ideally like to see USDJPY get to 150,24, (I am using a daily chart to show what supports lie below)…but
I am not in the BoJ’s shoes but I would be wary of going to the well too often and leave the threat of another surprise attack to keep USDJPY below 155.
With all that said, this is a Friday and this often sees one-way markets as the week draws to a close. Much depends on US data but that is for a discussion later on.
I do agree that the FED is watching job , I do not agree that “it” (the FED or Job Market ?) is difficult to read.
The Fed Is Eyeing the Job Market, but It’s Difficult to Read
Fed officials are watching labor trends as they contemplate when to cut rates. But different measures are telling different stories – By Jeanna Smialek in NYT
The different this and different that is they are only tryinng to confuse and beduffle the trading peasant and to keep the FED obscure.
refer to earlier Larry Summers reference to Sacrifice Ratio
BTC Daily
Oh my, oh my….do we have some natural channels on BTC – I wasn’t expecting this.
55.700 – if it proves a real support, I will start believing that BTC might become a real currency after all…
Even if it breaks….as long as it stays within the parameters.
This is the reason for me to place it on my Daily watch list.
Economic Data Calendar – Friday
EURUSD 4 H – Update
This is the third week that we are starting the day with one outlook, just to close it with an opposite one.
Seems as the Bulls and the Bears are just waiting for some data to try to use it to prove their point.
Personally, I couldn’t care less about data and/or interest rates, news and rumours .
It is enough to determine what might happen next few hours , based on 4h chart, and then switch to 30 min and wait for appropriate signal.
Right now, I have to tell you that the picture is changing – once again – The pattern calls for a push Up.
Bare in mind that unless 1.07350 and subsequently 1.07550 are taken out, we can have any pattern we like, but we ain’t gonna go higher.
This is not rectangle ( yet ), this is not the range trading ( waves are too short ) – this is some kind of Sideways to Up …a bit….so take it as it comes and do not try to predict bigger picture.
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