24 hour FX trade 1 min- EUR/USD as you can see rallied last night from the close of the American markets (red arrow). Surprisingly, the market FX correlation didn't hold, maybe not so surprising. In any case, had it held, we would have opened higher then we did.
5 min chart, still looks like a H&S top forming.
Here's the entire Oct. rally, the top is about right in size for the rally. Once again, it's a process, not an event (most of the time).
This also effects a lot of other trade, commodities, crude, PMs. I'm updating those next.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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