Chinook's EUR/USD (E/$)Mumblings

I've been awake and long throughout this rise from AM Moscow time. I suppose being here does have some advantages.

But no one was yapping, so I sat and quietly watched the euro rise.

Oh, and I ate sweetcakes too. :)

On another note, I'm curious - all this chatter about the BoJ during the holidays and the fact that they might step in to curb some Yen selling. Anyone hear or think anything in that regards?

-Ivan
 
BOJ will seriously consider a move if the Yen has strengthened 3-5 big figures within 1 week or 2 big figures from Tokyo to New York. This information is from a BOJ insider. In general, world central banks are anti-intervention these days as it doesn't really work. BOJ is probably the only one that will ever intervene in the near term if necessary.
 
So you believe there won't be any short term (1-2 days) involvement from BoJ at current levels - even considering where Yen was last week (105ish) ? And also given all the recent yapping from them?

I'm just concerned because everyone says if they were going to do it, Thanksgiving would be the best time.
 
Quote from trade-ya1:

I'm not playing it. Although, I agree it's in an overall uptrend and these last 10 dollars are probably just a retracement presenting a good buying opportunity. I'm currently only playing EUR, Bonds and S&P. However, my EUR position is really the dominate factor in my trading. How come the thread has been so inactive for the last 10 hours? I thought with this move I'd wake up and see pages of commentary. Is everyone just long and strong? Maybe time to sell :). Actually, another few big figures and some poor price action and I'm heading to the sidelines for the time being. I'll keep you updated if/when I do.
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Are you short S&P?

If I were playing longer term, I would have shorted S&P from this level and get long Crude Oil. They're both at turning points in my daily charts.
 
No, I'm not concerned at the sheer level. They are more concerned with the pace and the process rather than the absolute level. I think the strengthening of the Yen is portending a revaluation of the Yuan and HKD in short order but that is just a guess.
 
Quote from Ivanovich:

So you believe there won't be any short term (1-2 days) involvement from BoJ at current levels - even considering where Yen was last week (105ish) ? And also given all the recent yapping from them?

I'm just concerned because everyone says if they were going to do it, Thanksgiving would be the best time.
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I've thought the same thing (and Thomson mentions it as well) ... I am just going to be watching it on Thanksgiving and seeing if any intervention occurs and jump on for the ride :)
 
Some figures are due to be released in 15 mins - should be interesting to see the dynamic between this and the long weekend looming. I would think good or bad - dollar will be sold and when momentum dies, probably some good profit taking before the long weekend for short term traders which should see a nice reversal - although medium term/long term players will probably stay in looking for further highs - so the reversal could be quite limited before others snap up the rally.

Good luck.
 
Quote from Ivanovich:

*yawn*.

This is about as fun as a Russian winter.
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Yes, this is too fast for me. I need a slower market now :) What is this we're suck ina 4 tick range!
 
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