Cautiously short but have a plan B.
I am expecting two equal leg down from the June high. We accomplished the first leg thanks to the Greek drama. The commodity-yen carry trade crosses has been under perform lately as a risk on trade. They have been react heavily to risk off but not so much to risk on.
Speaking of technical, We could have finished the current correction last week as a primary count. However, until the 90.50 level is broken, There is a risk of extension of the correction to a slight higher level(the alt count). A 38.2% correction is not standard but certainly not uncommon in these type of move.
Speaking of technical, We could have finished the current correction last week as a primary count. However, until the 90.50 level is broken, There is a risk of extension of the correction to a slight higher level(the alt count). A 38.2% correction is not standard but certainly not uncommon in these type of move.
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