It is extremely unlikely that there will be any OneNightStand trades this week. All of the pairs are a substantial distance away from the breakout points that would indicate ONS trades.
But we will watch anyway.
The carry trade is beginning to pick up again on the GBP/JPY pair among others. In the very long term picture the GBP/JPY pair is in an uptrend and we have seen a very large correstion which has taken almost exactly 6 months to the week, for the Gann followers reading this.
The reports out today moved things around a bit. Perhaps next week will be the beginning of something profitable.
Joel Rensink
www.infiniteyield.com
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