Like a Salmon straining every sinew to ‘climb’ a waterfall, EUR/USD has struggled to get above DCZ 1.2945 all week long, without success. Similarly, we have sought to find a ride on the Salmon’s back. The hungry Bears above keep ‘picking off’ those who succeed in traversing the gushing flow South. This was again the case yesterday. Our Long order failed to find a jumping fish and expired. We spotted the tiring Pisces ready to accept it’s fate and be swept away back down the stream and placed a S&R Short but the Salmon refused and our order has now expired in deference to our no trade Friday rule. to yield and will again today,
Our Salmon will not rest today but again attempt to reach the procreational prize at the head of the stream – I wish it well!
The Day Ahead
A frustrating week is best dealt with quickly…………..ok, I’m over it! Now it’s time to enjoy the fact I’m alive and healthy and set about creating a nice weekend for my family. I do hope you have someone special to share your time – have a great one (perhaps go fishing???)
“And when the Salmon seeks a fresher stream to find; (Which hither from the sea comes, yearly, by his kind,) As he towards season grows; and stems the watry tract Where Tivy, falling down, makes an high cataract, Forc’d by the rising rocks that there her course oppose, As tho’ within her bounds they meant her to inclose; Here when the labouring fish does at the foot arrive, And finds that by his strength he does but vainly strive; His tail takes in his mouth, and, bending like a bow That’s to full compass drawn, aloft himself doth throw, Then springing at his height, as doth a little wand That bended end to end, and started from man’s hand, Far off itself doth cast, so does that Salmon vault; And if, at first, he fail, his second summersault He instantly essays, and, from his nimble ring Still yerking, never leaves until himself he fling Above the opposing stream.” Michael Drayton.