 Welcome back folks. I doubt I was down 13 as it's a 30 s&p's a flat. Let's go over to our man Mr. Teddy cakes that as you do each and every Wednesday at 40 past the hour You can reach Teddy every trading day folks at 4x-trading-unlocked.com That's 4x-trading-unlocked.com. Teddy cakes that what's going on? Morning guys, you want to talk about the end your favorite currency today? You know what I'm so You just picked this out of my head. I was gonna stop with you because this 109 29 109 30s drive me out of my mind man because that number if it goes over it I'll be in trouble in the gold market. I think that you might have a good shot at that happening Okay, there might be some new highs. So you might I think that might be something to definitely pay attention to yeah No, I it's charging into it. I mean it failed the first time right came up there again yesterday and I just lay in there, right? Right well, here's something I wanted I want to point out to you the dollar index looks like it's made a nice little turn Except for the past couple of days. It's had a nice little bounce after it made some new move lows on the daily chart Yeah, and I'm not actually The yen actually where the dollar index has been trading lower for since basically October 1st Most of your major currencies have gotten a little bit of a lift in that period Okay, except for the dollar yen the dollar yen has been a bull in a falling dollar index But we've had a little bit of divergence though because if you look at the yen chart over the past couple days We've had a nice explosive rally off of that last a higher move low Yes, and that's all in the wake of a little dollar bounce to so they've kind of gone in tandem there But I think that that's going to actually fall apart the dollar index is going to fall apart And then we're going to still see the yen go higher Dollar yen that so when you look at the dollar yen I mean, I guess you my benchmark here is that that 109 32 the last time we made it up to 109 29 Yes, they made it 109 24. Where are you looking if we do break that? Where where you're looking that you might be that maybe might be able to run to oh I think that if we've reached that I think that we're going to start to establish a new base And I think we're going to be up in the 110 111 12 handle Maybe by the year right because that 112 that's the next area right that goes back to April of 2019. Okay Yeah, and it would take about it's going to take about a month and a half to two months to get there. I think yeah Well, we'll see where that shakes out man because that that that would be a tough one for gold There's no doubt about seeing the reactions. Yeah, that the gold market takes conniptions folks when the yen gets weaker Yep. Yeah, but it's good. It's good for your equity traders out there because if the ends if the dollar yen is going in That direction our exports will be doing better. You know, oh, yeah I'm with you there. And what about what are you looking at with the euro and the pound? The euro and the pound okay now there I think we're gonna start to see a little bit more of strength, but not in that big of a volatile fashion though I don't think the euro can climb that high I think the dollar index is gonna keep on going lower, which will push the the euro and the pound both higher Brexit stuff. I mean we're not even gonna talk about that today Right, why not we got a full month of the election man About it for two years three. Yeah, I know exactly the same especially after Brexit not happening on the 31st But I think this is good though because I think the dollar index really is your guide. Remember, we're heading into our fourth quarter We're going into the end of the year We're gonna have a lot of balancing come the end of the month getting ready for year-end, you know So it would make sense that right now we have a little rally to sell in the dollar index Which would push the euro higher maybe get it back up to that like 113 114 115 area But I don't I see it being like if you look at the range in the euro and like the Swiss The Swiss is the only currency that actually gets any real range on a daily basis And now we have the pound where it's floating underneath highs and its range is getting really tight It always scares me when you see the pound having tight ranges even in slow markets. Okay, let me ask you Teddy when we talk, you know at the end of the year with the balancing, right? How exactly does that work? I you know like is it companies that they're gonna bring dollars back and Euros back how does that work coming into the end of the year? Okay, well then you okay That's a good question because on the company basis you do have a currency balancing where people may want to reposition themselves for January Especially with their books Sometimes you want to end the year on one note in one way just to set yourself up for the beginning of your first quarter You know there's definitely a balancing and that depends on each individual like if let's say you're A coffee importer from the United States and you're coming out of brazil or art You know out of South America. Yes, you know You definitely might want to have something to do with your contracts depending on your positions and any type of deliveries You may have right and then you have something like an auto manufacturer. It's a totally different case, you know, so They the majority I mean I've read about it so many times so the majority whether it's large companies They they basically like to do that at the end of the year I wonder if that's an order and a what's what it's for. Do you know I'm saying to really get probably a better understanding of the balance sheet I think so I think because it doesn't matter what their accounting set cycle is they all go on quarter basis no matter what Yeah, I think it's really for that on purpose, you know, and then you have your banks as well They do a lot of balancing to and month-end and quarter-end let alone year. Okay. Okay, so This currency business is pretty cool business. I mean it's been fluctuating pretty intense Volatility, yeah, right. Yeah, but like I said, I think that you're not going to see much of like In the year like I think the yen is where you have your biggest potential for swings on a daily basis and even on a trending basis Because the euro no matter what the news is like they tried to break it down and you didn't get any severe breaks Like it's only because we're looking at it's the volatility has been so low that it looks like it's actually been swinging around the past Like few weeks especially and it really hasn't been you know, if you look at the rain Right, you know, whereas you know, the yen said some real movement man I mean that that movement, you know has been when we're open not even when you know the bottom line when they're open You know versus that that's kind of intriguing and the aspect that there was more action Yesterday when our markets are open versus their markets, you know, so right someone's buying it, right? I was selling it Yeah, it was getting we're selling it. Okay, right Pretty wild man. No doubt about that I'm with you with the gold trade to like I'm watching that as well Like I think that we're coming to a nice little friction point for that Yeah, well, you know when it hasn't broken a swing yet. I mean, it's what's so intriguing the gold Trade to me is just like the bond trade. It came down fast and furious But right September 13th at benchmark neither one of them broke that benchmark and the last two times they came down You know, they basically came down and what ended up happening with that with that baby I guess gold is that's October first October first in the bonds of September 13th. Okay You get the day on the head right there October first was a big turning point for currencies interest rates and metals Yeah, yeah So, you know to me if you when you can't make it to the swing point even if you know, you get some juice behind it It's like, okay, why not that means that this buy is better sitting there, you know So and then of course the bonds That's that's that's just that's gonna be a story that's been gonna be written in a huge way, you know, right? So pretty crazy. It's it's not even talking about oil. Remember how we used to use talking about oil We haven't even talked about that in a while for some reason that's kind of off the table right now It's tough to compete when other markets are rocking and rolling, but oh, yeah, and we just had right We just had the oil numbers steady at 10 30 It's like almost an 8 million barrel built so we might see a little lower price today, but we'll find out man That is I'm happy every time I go to the pumps lately, right? Well, some we were talking about with Kevin Hicks same. It's so true man I mean, it's it's a big deal cash to the bottom line. Well, listen man You have a great one a safe one and folks you can reach Teddy every trading day at 4x dash trading dash unlock calm Teddy we look forward to having your next Wednesday. Thanks guys. Yeah, good day. Thanks Teddy. You too, man We have it out on 14. That's like up 32 recipes black from my back