Posted Sunday GBP/USD support 1.2635, bounced 80 pips from 1.2638.
Ever heard Legacy currency such as DEM/USD. What about the Pegged currency. The British Empire and all nations under its dominion were Pegged to GBP exchange rates. When nations became independent, all established their own exchange rates and money market systems. What was established was a money market system exactly as the UK. AUD for example is the UK system with a slight twist. NZD is the UK system with a slight twist. CAD is born and raised in the UK system. When USD grew up, America went its own way and established a hybrid system as part UK and part its own invention. What changed in 2017, nothing. The names were changed to protect the innocent.
Ronald Reagan left office in 1988. The Republican Party then shifted its ideological focus from conservative Taft and belief small government was best to love of government Teddy Roosevelt. The jury must still decide if Trump is a Reagan/ Taft Republican or Teddy Roosevelt. Appointments on the Republican Party Boards will tell us soon enough.
A voter born in 1988 is today 29 and still young. A vote for America’s Bummer in 2008 was 20 years old. Why would communists in the Democrat Party reveal a hidden and evil ideology when they spent 100 years since Wilson to hide. The Democrats willingly outed themselves as Socialists / Communist in words and policy throughout the last campaign.
What’s the result. The Putsch is on to permanently turn young voters to Democrat orientation in government as solution to all societal ills. The vast majority of the 18 to 25 voters in the T.May election voted to remain in the Eurozone. Benjamin Franklin once said those who vote security over freedom will find neither.
Meanwhile the Democrat disrupt movement continues and young voters in universities are most vulnerable as targets. Ever wonder why American universities don’t offer degrees in American history. The reason is Democrat control of past Civil Service acts. Democrats control the bureaucracy in American governments and created the Education agencies under Carter in 1978. Sad is Google will teach brain surgery and functions of the brain but nobody will use it for simple research.
EUR/USD The big break line for EUR today is 1.1130 but EUR won’t see 1.1130 today. Look for longs at 1.1138 if seen and target back to 1.1157 then 1.1175. The big line break above is 1.1254 but EUR/USD will severely struggle to go higher from 1.1263. EUR maximum today is 1.1279. Shorts the tops to target 1.1244.
Watch EUR this afternoon as it informs the remainder of the week.
Watch GBP/USD 1.2724 break line for a ride to 1.2753. Mind the Gap as 1.2790 is next. Massive supports were instituted by the BOE today at 1.2564 and 1.2630. The new intervention is money market rescues. Its intervention on the cheap.
USD/JPY 109.46 and 109.40 is rock solid. USD/JPY already hit 110.26 and 4 pips above resistance at 110.22. Next up is 110.42 and 110.69. Caution longs as overall big breaks are located at 111.27 and 111.83. Breaks 111.27 and 111.83 is needed to target 112.32.