After a little positive video watching (military dad surprises son) and some Bloomberg, Reuters mash to prop up my ideas and I’m good to go again although I might have to wait on the USD holiday to see any real movement on my charts, I’m ultimately posed to the upside on the dollar and here’s why. It seems the UJ does not fall far from the 104.2 zone and the EU can’t seem to get enough steam to pull up to the November 2013 highs of 1.357, which means in my simple mind that it’s still ranging lower. I expect a slow week ahead but steadier dollar.

According to JP Morgan London 2014currency forecast, “The dollar is likely to advance the most against currencies whose central banks are still easing and where current account positions are poor.”

Okay so I know this will fluctuate wildly throughout the year { as seen with my long on the UJ}, so after a little mental hollering, I will keep my head out of the clouds and maintain my self-edited trade rules! Out of the wilderness and into the…well we will see!

Views: 109

Comment by talisman on January 20, 2014 at 8:45pm

your trade horizons are a big factor in your buy/sell decisions, while underlying fundamentals  pointing to dollar rise may  ultimately prove true large swings in pairs in the 300 to 500 pip range are not uncommon. unless you have a strategy that allows for this potential, and you yourself are comfortable with that,  you would be well advised to focus your energy on market structure within risk levels that are acceptable to you.  that is where people like brian, haitham , vladimer, yohay, and others on this site can assist you because that is their target . most of their reccomendations give opportunities in the 50 to 250 pip range and they offer a nice mix to choose from to get your feet wet.  ultimately you will need to develop your own ideas but they offer real time rubber hit the road ideas that wont break you. 

Comment by Sandra Gillhouse on January 21, 2014 at 12:07am

thanks guys I appreciate all the comments and will take advice to heart!

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