Fallout from the Thin Holiday Monday

AT LEAST THIS - We're coming off a long holiday weekend and I hope those of you celebrating enjoyed your time off. The Dollar run kept going on the thin Monday, which wasn't really much of a surprise considering how markets have a tendency of pushing in the direction of the immediate trend when conditions are thin. Having said that, considering where these daily studies are at the moment, I think the Dollar is getting ready to take a nice hit. My view is that we'll see this hit open the next major wave of Dollar depreciation, but for now, at a minimum, some short term movement the other way looks like it should be high probability.

cartoon may 29

THE RISK OFF ONE - On Monday, I was looking at EURCHF and EURAUD as potential setups for that next trade and they could be there for the taking sooner than later. Of the two, I would be more comfortable taking the EURAUD trade, as my core view favors risk off flow in financial markets, which if proven to be the case, would expose the Australian Dollar more to weakness, while benefiting a Euro viewed to be a bit of a safe haven diversifier alternative to the US Dollar. But for the moment, those are the only potentials I'm seeing out there as things get going this week and I'll be curious to see how it all unfolds.

Looking for a big bounce in $EURUSD and $GBPUSD over coming sessions.

Well Oversold, Due for Big Bounce

The Pound has come back down into a critical support zone and should be looki...


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Update on GOLD

Here's the latest on price action in GOLD and how it related to out exposure.