We have seen the Dollar strengthen now for a few weeks. We are seeing the “Dollar Carry Trade” continue to unwind. We expect to see a rather wild retest of the Dollar lows going into year end. We are seeing many markets in the higher time frames forming some kind of “coil” formations which usually precede larger moves. So be ready for a wild close of the year.
EUR/USD:
I still like buying major dips here at the current time. Near term I am looking for support near the 1.45 handle to hold.
GBP/USD:
The cable should hold supports near the 1.61 level early this week and here too I am a buyer of dips.
USD/CHF:
I am a happy seller in the mid 1.03’s near term still looking for a move back towards 1.01.
USD/JPY:
This pair has now stabilized after the last few weeks of “festivities” but once again I have to sound the warning. We are again seeing increasing signs that we will see another larger move in this pair in the foreseeable future. So keep you eyes open this week.
AUD/USD:
I still favor selling strength here but would urge patience this week as we could see a squeeze here. But major rallies should present some reasonable sell opportunities.
USD/CAD:
This pair appears to be leading the way still but is showing signs of near term Dollar exhaustion so look for this pair to fall back below 1.06 this week.
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Hi Derek, want to know when you plan to do mentoring again, and if I enter the inner circle, it is possible to have feedback of my trading??
If my account is now 2k what r the probabilities that I can pay the inner circle service??
By the way thanks, I´ve learned a lot, but want to move to next level.
Thanks for your response
Nelson
https://forextradersdaily.com/forextrader/dfs.htm
The mentoring is set to begin again in February and the yes you can get feedback within the inner circle. 2k account may be a bit hard to pay for the service in the first few months but if you stick to it in time it should pay off. The key is sticking to it for the longer term. That is the real key of any successful trading or business for that matter. So whether you do it with me or another way whatever you take the long view and stick to it. “the race is not to the swift but to those who keep on running”