USD yesterday: Donna Summer said I Feel Love. Well I didn’t.


It started so well with a Mnunchen led risk on move, helping USDJPY pop to new highs. Then core pairs softening like a text book play.  Just when you thought it was mr nice guy. USD was firm then decided to retrace.

Lovely for bargain hunters.  No not lovely – brutal.

This is what is commonly known as a reversal day. Well nearly.

Did anyone feel pain like i did ?    Pick your levels and trade the wide because i don’t like reversals. They bite and i don’t – i’m too old for that nonsense.

Patrick Reid
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