The USD broke below multi-year support earlier on Tuesday while the Euro and a slew of other currencies broke out above multi-year resistance. The next level of support for the USD is 79.06 then 78.72. The next level of resistance for the Euro is 1.3966….
Yesterday Legendary Hedge Fund Manager Paul Tudor Jones said:
“Macro trading has probably been as difficult as I have ever seen it in my career,” Paul Tudor Jones says at #SOHN2014
Tudor Jones: volatility compression making him yawn: “I find myself day-dreaming about winning Dancing With The Stars”.
I fully agree with his comments about the macro space. Maybe now we will begin to see more “normalized” trading/trends develop in this arena as the Fed and other central banks begin to take their foot a little off the pedal. It is definitely wayyyy overdue!
The Firm Has A Position in The Euro