CAD is on more of a tear. EUR/Cad is more volatile right now. Europe is more vulnerable to higher oil prices, while higher prices could benefit USD. Eventually demand destruction shows up, but certain segments of the US economy are about to wake up. Fracking, anyone?
Got out of everything about two and a half hours after the London open. Only position that really made anything was EUR at 1.1937. Cad just wouldn't break 1.2760 hard. Now I see why, as it appears to have reversed, along with Usdjpy.
Usdjpy at a critical point here 1.940. Longer TF 4hr has a nice cup with handle pivot 1.10. Shorter TF about to be negative, and the day's backdrop is obviously negative for dollar. Staying away.
I'd just like to point out that the Aussie has rallied about a hundred points off it's most recent lows. I've noticed that it's been leading on the way up and down. I use it more as an indicator than to trade with, as it doesn't wiggle enough generally to get decent entries.
Started buying again at 1.1912, then 1.1895. Still underwater but the tape looks positive. Good vol if you're nimble. Which I'm generally not. Too old and slow. Well, I was always slow, and it hasn't gotten any better.