Monday, June 21, 2010

YUAN ETC.

Mon. Jun 21.; I hate it when that happens!
A surprise over the weekend DOES have the advantage of generating extreme prints in a thin market.
The Yuan announcement has of course taken the USD  to fresh lows and all other assets higher. So far however it's effect has been limited to short term tech points rather than intermediate or longer term game changers, ie JPY retrace has yet to reverse the triangle break out, merely retracing it deeply.
Could well be a sell the news opportunity.
Any USD overlaps of previous high points , like 86.20 and 86.80, should be seen as signaling renewed strength in the face of global efforts to  halt the move.
 Euro
 Too many overlaps to count this move up as a 5 wave.

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