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Ichimoku? Make mine a double

I cannot stand beetroot... I almost have to leave the room when my wife eats it. I am a person of strong and ingrained views, opinions and attitudes.

During the time I have been annoying some, boring others and maybe entertaining and informing a few, it should be obvious that despite spouting the need for a ‘balanced attitude’ to trading, my views on technical analysis belong in the Dark Ages.

This week, I received a call from a guy who was looking for someone to help to ‘tidy-up’ the translations into English of several articles on technical analysis. Following a brief negotiation, an email arrived with fifty documents attached each describing either an indicator or signal, a chart formation or most intriguingly for me the way various trading scenarios are put together.

Don’t get me wrong, I am not a total ‘luddite’. I just always believed that it is economics, the whole ‘catch all’ fundamental analysis driver that determined the value of currencies.

The more I wrote, the more the feeling grew that maybe, just maybe there was something to be said for this jargon filled world. Having only ever reached as far as page 10 of ‘Technical Analysis for Dummies’, I am now hooked. A whole new world has opened; Breakouts aren’t something that happen to a teenager before his first date. Doji’s aren’t found on the menu at Yo Sushi and Morning Stars occur at all times of day… (imagine me wide eyes staring comatose into my screen).

So, look out for a new more rounded me.

It has been a week of epiphanies. You wait years to have one and two come along together.

Years ago, I was quoted on radio as saying that I would live longer than the Euro. This bold (foolish) statement has followed me around ever since but now my view of the ‘ultimate black swan event’ is changing.

I find my attitude to the Euro softening.

There is no question that the EU has been a fantastic success from a social perspective. The way that there has been a blurring of nationalistic attitudes that have led to conflict in the past is a testament to the original architects who showed, in retrospect, great vision. Helmut Kohl and Francois Mitterrand the architects of the modern EU deserve more respect.

Mitterrand died in 1996 and Kohl just last week. There has been a spat over Kohls funeral plans. His son has called them ‘unworthy of his legacy’. I tend to agree.

Aside from the social benefits of the EU, what of the common currency? At a conference recently, I found myself praising the work of Mario Draghi, commenting that only since 2011 has the ECB had a proper President. Duisenberg and Trichet were political appointments, compromise candidates if you will, ill-equipped for the task.

Personally, I still do not see how it can work, but it does. In eighteen years the progress made has been remarkable. Despite the worst downturn in close to a century there have been no forced departures, growth is returning (almost everywhere) and inflation is not a concern. The single currency has found a level, wild fluctuations haven’t occurred and acceptance of new members has happened smoothly.

Brexit is going to happen no matter the ‘dreams’ of Donald Tusk. If by some miracle the vote were to be re-run, leave candidates would only have to cite the fact that evolution of the EU would demand U.K. membership of the Euro to ensure a bigger majority in favour of departure.

The U.K. is a different case that is clear but criticism of what is happening across the Channel is beginning to look foolish, petty and unfounded.

My next epiphany? Well, all I know is that it won’t involve beetroot… hopefully.

Ichimoku? Make mine a double

I cannot stand beetroot... I almost have to leave the room when my wife eats it. I am a person of strong and ingrained views, opinions and attitudes.

During the time I have been annoying some, boring others and maybe entertaining and informing a few, it should be obvious that despite spouting the need for a ‘balanced attitude’ to trading, my views on technical analysis belong in the Dark Ages.

This week, I received a call from a guy who was looking for someone to help to ‘tidy-up’ the translations into English of several articles on technical analysis. Following a brief negotiation, an email arrived with fifty documents attached each describing either an indicator or signal, a chart formation or most intriguingly for me the way various trading scenarios are put together.

Don’t get me wrong, I am not a total ‘luddite’. I just always believed that it is economics, the whole ‘catch all’ fundamental analysis driver that determined the value of currencies.

The more I wrote, the more the feeling grew that maybe, just maybe there was something to be said for this jargon filled world. Having only ever reached as far as page 10 of ‘Technical Analysis for Dummies’, I am now hooked. A whole new world has opened; Breakouts aren’t something that happen to a teenager before his first date. Doji’s aren’t found on the menu at Yo Sushi and Morning Stars occur at all times of day… (imagine me wide eyes staring comatose into my screen).

So, look out for a new more rounded me.

It has been a week of epiphanies. You wait years to have one and two come along together.

Years ago, I was quoted on radio as saying that I would live longer than the Euro. This bold (foolish) statement has followed me around ever since but now my view of the ‘ultimate black swan event’ is changing.

I find my attitude to the Euro softening.

There is no question that the EU has been a fantastic success from a social perspective. The way that there has been a blurring of nationalistic attitudes that have led to conflict in the past is a testament to the original architects who showed, in retrospect, great vision. Helmut Kohl and Francois Mitterrand the architects of the modern EU deserve more respect.

Mitterrand died in 1996 and Kohl just last week. There has been a spat over Kohls funeral plans. His son has called them ‘unworthy of his legacy’. I tend to agree.

Aside from the social benefits of the EU, what of the common currency? At a conference recently, I found myself praising the work of Mario Draghi, commenting that only since 2011 has the ECB had a proper President. Duisenberg and Trichet were political appointments, compromise candidates if you will, ill-equipped for the task.

Personally, I still do not see how it can work, but it does. In eighteen years the progress made has been remarkable. Despite the worst downturn in close to a century there have been no forced departures, growth is returning (almost everywhere) and inflation is not a concern. The single currency has found a level, wild fluctuations haven’t occurred and acceptance of new members has happened smoothly.

Brexit is going to happen no matter the ‘dreams’ of Donald Tusk. If by some miracle the vote were to be re-run, leave candidates would only have to cite the fact that evolution of the EU would demand U.K. membership of the Euro to ensure a bigger majority in favour of departure.

The U.K. is a different case that is clear but criticism of what is happening across the Channel is beginning to look foolish, petty and unfounded.

My next epiphany? Well, all I know is that it won’t involve beetroot… hopefully.

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USD/CAD ticks higher to mid-1.3400s amid weaker Oil prices
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EUR/USD unable to gather traction above 1.1200
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May’s Resignation means Brexit is Back to Square One
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Gold in search of a firm direction, holds steady near $1275 area
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EUR/USD remains under pressure near 1.1150 post-German GDP
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FOMC Minutes to portray a cautious tone
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RBA: Rate cut in June and August?
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ECB's de Cos: European financial system remains fragile
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EUR/JPY remains sidelined below the 123.00 handle
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EUR/USD seen at 1.15 in 6-month – Danske Bank
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USD/CAD Canadian Dollar Lower Despite Reaching Tariff Agreement With US
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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 17.05.2019
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Market Analysis
Gold drops to session lows, retreats further below $1300 mark
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Market Analysis
EUR/USD: Short-term consolidation?
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JPY futures: room for further depreciation
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USD/TRY edging higher, approaches the 6.10 area
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Market Analysis
AUD/USD technical analysis: Bears flirting with 1-week old descending trend-channel support
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Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 14.05.2019
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Market Analysis
GBP/USD keeps the red below mid-1.2900s, 2-week lows post-UK jobs data
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Market Analysis
EUR/USD Technical Analysis: Recent tops and the 55-day SMA keeps limiting extra gains
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Market Analysis
EUR/USD: Balance of risks still favour 1.10 in 2Q19
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