 Let's go over to our man Mr. Teddy cakes that as you do every Wednesday at 40 past the hour You can reach Teddy every trading day folks at 4x dash trading dash unlock calm That's 4x dash trading dash unlock calm Teddy cakes that You riding that way. How are you guys doing great man yourself? You know, I'm doing pretty good It's kind of a quiet day in the currencies today. Not like well since we talked last It was quite the volatile period for sure. Oh, there's no doubt man. I mean, how about that move in the euro, huh? Oh my gosh, that was the biggest move that we've seen in the euro You know for like a week and a half just the the volatility to happen intraday Let alone the full moves off that is yielding. So so what do you think like when you're looking at this euro right now? I mean is this thing game? That's a one, you know, 15 118 or what are you thinking? Well, you know what? I mean where the the recent low is that's been a very strong support area for the euro for a long time Yeah, now what really surprised me was the the Volcker-esque way of cutting interest rates yesterday. Okay, you know Yeah, so now the market I think it's pretty much factored in the corona virus, you know or as at least as far as the currencies I think I think the equity markets still have a little bit more to go as far as like the S&P's and stuff like that especially with the way the volatility looked yesterday. Yes, so but like I look at the yen You know for instance like this market was in a very strong bull market for a very long time And now especially with what's going on and even with this interest rate cut. I don't understand how the yen isn't Isn't bouncing right now, you know, so it's it's very odd You know that we last week we talked about how there was a divergence We were starting to see that these countertrend murt moves were either gonna follow through even more like they did Or we start to see a little bit of a turn which we didn't get and now I think we're starting to come into that little area Where the dollar dollar weakness? I mean, you know, I'm a dollar bear right now over the long term Yes, but I think that dollar strength is still going to start to rear its head again over the next two weeks Yeah, it's the I mean, this is a big failure on the yen. There's no doubt I mean, yeah, I mean that that spike we were at 112, you know, not too long ago, man I mean, it's like, okay. This thing looks like it's charging down to this 104 level. I mean, we're right and you know, you remember when we talked last week It was only halfway from where it is now from the low to the high Yes, the other most recent high anyway We were talking about how if it does go like I didn't think it was gonna get as low as it did But now it's me. It's confirmed lower move lows So the long-term bull trend is definitely on a neutral call right now And as far as like, I mean, you you watch the gold market and you've seen what it's done over the last few days, especially, you know I mean, and especially with the way the equity markets are rocking Like I said, the yen, it doesn't seem to be acting like it normally would be, you know And especially in the wake of the central bank action, you know, it's it's really hard to To put a beat on this one, you know, the other currency, you look at the Turkish lira You had a nice little sell signal that came in. They had a nice little corrective move You got the Canadian US dollar Canadian dollar It looks like they're trying to have a little bit of a corrective move So there's some weakness and strength that's starting to show Versus the fundamental trade that we've seen going on for the past couple weeks But the US dollar yen is a total puzzler. I I can't put a grip on it I think that if you're an aggressive bearer bull You got to just use the today's low as your risk anything below what I think you're gonna grind keep on grinding, you know You know, it's so interesting. We just say in there and we were talking about this a few weeks ago Teddy you I and Tommy and what it was is that that was the first time that the yen Even when it was a weaker meaning higher in price, right, right gold market didn't react and remember I said, you know It was like this is so strange man because what happens folks is that the yen almost runs the gold market I mean, it's that dramatic. Okay, and Maybe that was one of the tails. Do you know what I mean? That's like, okay, man This is like crazy man. Okay, cuz we were right up there normally folks with that would happen, you know And then and I guess I can make the case. Okay was the delayed action because they whack gold a hundred bucks on Friday, right? Right It's like, okay, man. Oh You gotta love it though, I'll tell you Well, you know, it's kind of funny like you're you're drawing the correlation with which we both know how gold and yen are very Interrelated yes, and I'm starting to think too is that it could be you know Oil has taken quite the little nice little sell-off over the past couple weeks and now isn't a very nice area So let's say that even with all the supply chain slowdowns and whatever would have you if Production is slowing and even if if sales are slowing But your costs are also diminishing at the same time What is the severity of the whole situation? You know what I mean, right? So and I think that with the yen you might be seeing the yen strength because if when oil is low It's good for Japan because they don't have oil to begin with they have to import it no matter what sure, you know so and especially, you know If the corona stuff starts to really stabilize now over the next couple weeks, you know The numbers are it's kind of weird in certain places. It seems like they're stabilizing in other places They're not you know, so we don't know what that impact is yet, but I think maybe for the Asian trade The yen might start to be a baby. It's a bull right now. I don't know I it's it's a really hard thing to gauge especially with how gold's moving, you know Yeah, there's no doubt one of you know We just had those oil numbers and one of our tigers in the den brought up a great point And what it was folks is that that yeah, the the airlines are getting killed You know, there's no doubt, but more people will probably jump in their car using gasoline and it's so wild because last night I'm talking to one of my cousins and You know, he's gonna get another one of my cousins is what you know They're gonna jump in their car and they're riding down here They said what what coming man and it's always so funny and but they're jumping in their car Do you know what I'm saying, right? So we that's that's a phenomena that We do want to pay attention to folks and you know Millions of people jumping the cars that use an oil maybe you know oil can basically get stabilized. Yeah, you know It's right, you know gonna be interesting that there's no no especially with the holidays coming up You know, you got spring breaks and stuff like that It will be interesting to see how that those numbers start to pan out. Yeah spring break I forgot about so with you know with the European currencies, you know It's pretty interesting how you know the dollar has been in a little bit of a retreat recently The pound still just seems to be a sideways kind of grinding little bear kind of not really But it just doesn't seem to want to get a rally But it doesn't want to sell off either, you know Like when the euro was really stretching this these point this through resistance over the past few sessions before today When you look at the pound, which is also one of the biggest currencies out there It was really not very much volatility in the pound at all, right, you know, so and the Swiss strength also kind of shows me that That the strength in the Swiss is returning, you know, so I think we're gonna see a divergence, you know But like I said, I think so we had found good support in the euro US dollar whether it can maintain any type of rally You know like that's significant. I don't think so, but I think the volatility we have now if that stays Well, that changes things, you know, I mean we saw more you guys have been trading for a long time I mean the currencies in on Thursday and Friday, especially Friday afternoon the last few hours It was trading like the S&P's in a fast market. It was crazy with the range and how fast it was moving, right? Yeah, going into these weekends for currencies, right for gold is always dangerous, man You know because right there the market is looking like two days folks and $48 in this market here But might as well be like five weeks. It's like sure sure and here's another thing to work we are gonna be coming into earnings season soon and These earnings aren't gonna be reflective of this virus until six months from now the earnings for the I mean right now All the economic numbers are coming out great. No, no, folks You can reach Teddy every trading day 4x dash trading dash unlock.com Teddy you have a great one safe one We look forward to speaking the next Wednesday. Absolutely guys. Thanks a lot. We'll see you next week. Thank you Stay right there folks Tommy and I come right back