My Yen prediction

My Yen prediction

Hi Guys.
My $Yen prediction is just not going anywhere right now as the $ holds its position and now has the potential to go higher off the “great expectations” of Jerome Powell the new chair of the FOMC.
From a T/A standpoint it looks like the $ might just have another go at getting off the floor but I must stress it is still inside the consolidation formed this year meaning it could easily bounce on the ceiling and drop again – who knows..?
Therefore I am out of $Yen for the time being.

Brexit rages on so trading the Euro and the Pound will be frustrating to say the least as frankly anything could happen so that more or less wraps up my chosen currencies.

So for the moment I think I will stay out of things as per the messages over the last week or so.  I am sure I will miss good opportunities but I expect they will be shrouded by frustration. Once there is something definitive with Brexit  we can then go about speculating but until then it’s as good as guesswork.

You cannot analyse rhetoric after all.

So until next week, unless something of any substance comes along first.

Keep it tight


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About Author

Clive Arneil

Clive Arneil worked for major brokers for over 20 years trading most instruments in the Foreign Exchange markets as well as Derivatives. Brokered deals on behalf of some of the worlds largest banks including Barclays, Citibank, UBS, Nat West and the Bank of England. Worked mainly in the UK but also in Switzerland, Germany and the U.S. Retired from the Money Market at the age of 40 and worked as a financial data feed specialist supplying market data to Banks, Brokers and Spread-Betting companies. Still trading and teaching people the skills required to master today’s volatile markets.