On the scale of days, nothing has changed and CAD is still facing its big correction down to underdog level where USD and JPY are waiting for another leg of their journey to the center of the earth.. To be continued..
Let's indeed not jump up and down yet..
JPY is packing that worldscale depreciation, enough for the three leaders of the fx market.. Triangle crash imminent? <twilight zone audible>
JPY pulling the leading triangle into scraps.. See the arrows drawn on the chart, visualising market forces.
USD wants to go up, but that little fresh authentic power (Biden propaganda ;) has never enough to avoid the traditional sequence of events.. Only this time on steroids..
JPY depreciation is freaking relentless, and we all know why. Unfortunately we can not let JPY crash alone because that would send UJ into oblivion and a wrong signal into the world. So.. Buckle up peeps..
Lots of peeps will have no freaking clue what happened. Some random piece of fundie will be made responsible for sure. One thing I can tell for sure atm, you don't want to be on the wrong side of it..
@vik0q, Still expecting. Now in the middle of the season. Any reasoning you would like to add?
vik0q
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@Deep-Peat-Shark, COT commercials are net short. to accumulate will take weeks-1month maybe, I expect to hit the liquidity void or back to the low 88-89 to re-accumulate.
Deep-Peat-Shark
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@vik0q, Okay, good and definitely not less valid point. Published this back in April, so this idea failed for it to happen back then. July/August is the season and I see macro trends that can make it possible. Let's wait and see. Thanks for following up. Cheers