Take a look at the Yen and Euro charts
click on chart to enlarge
Both of these currencies look to be very vulnerable to a sell off. Which brings me back to the carry trade and
equities ; between USD short covering risk aqnd the 50% retrace on equities, how do you do anything but sell, especially given the historic downside risk of a 3 or C down of Super Cycle degree?
Crude looks like it's in a corrective move down. The last month of sideways trading is NOT an impulse wave down . While a retest of 82 or new highs just over at the 83 resist would normally be expected, the above carry trade story makes it VERY difficult to get on that train.
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