How do you know machines are running the markets in the New York afternoon? When the 800 lbs gorilla in the market sells and the machine says “Oh, I’m a buyer, thanks for those, can I have some more?”
A human trader would tell all his friends he had paid China and he would then get to buy his position back 20 pips lower… Just goes to show you, algos have no friends!
EUR/USD trades now at 1.4135 after peaking in the 1.4145 area. 1.4154 is the London high.
Cable is making enemies among those who faded strength all morning. They are now being forced to pay up to get them pack. It reached 1.6586 before pausing for breath. If I’ve warned you once, I’ve warned you a thousand times: Cable will crush your soul, eventually.
