 Let's go over to IMM, it's the Teddy cakes that as we do each and every Wednesday it's Wednesday already man. It is man, I know. You gotta love it. And hey listen man, where are these currencies man, this is like a groundhog day man. And listen, every trading day folks you can reach Teddy at forex-trading-unlock.com. Teddy cakes that. What's going on brother? Morning guys. Morning Teddy. Hey the Euro saved itself again. Yeah you know it's kind of funny, it's like somebody sprinkled some fairy dust on the currency market yesterday. You know it's like the US dollar swiss, they touched parity and then they fell off. The Euro tried to make a new low around 111.5 and fell just shy of hitting a new low. So that shows a nice little support bounce there and now they're higher. So I think that with the news that came out, because remember last week we were talking about the whole Brexit thing. Now magically, before yesterday they were like, oh is it on Monday they were saying that Theresa May there's four different deals for Brexit, nothing's going to go through, how can she turn things around and everyone's against her. Now this morning they're saying oh my gosh, she's almost like a savior now like oh this could possibly work. Oh really? Oh my god. Yeah she's going to work with labor right? Wow. Hey let me ask you something right? I know you've been trading currencies forever, have like a news event, or when was the last news event that this was going on so long? Or is this different? Do you know what I mean? Oh this is, I don't ever remember anything like this. Okay yeah, I'm just curious, yeah it's because it's territory because- Have we ever had a big giant member of the EU take three years to try and leave? Right. I mean it is. Right. Right. This is also unique because even though they've been part of the EU the pound has always existed. Yes. Right. So it's not like they're just breaking away and they have to figure out a currency structure. Their currency has been free-floating since this whole thing has begun from the beginning. They were smart to do that man. They were definitely smart to do that. Absolutely. I remember when they were first combining the EU and I'm like I really hope we don't lose the pound. Like this whole one currency thing is, I mean if we had one rule of currency that would be a very bad thing. There's a reason for having multiple currencies. Yeah, yeah. So- You know I forget when they were doing it how they actually got to be part of the union and say no I'm keeping my currency at the same time. You know? Yeah. It's good. It's good. It's wild watching the things shake out. Particularly you know that Euro yesterday it looked like it was going to jump off the cliff again and then it said nope I'm not going to get below this, I'm not going to stay below this 112. That's kind of what it seems like. I like the idea that they're both moving. We'll see if there's any pressure on the dollar right now. Every time now I'm only looking at the dollar index Teddy but every time it goes down there's no sellers. Do you know what I mean? There's no buyers when we get up at these levels it pulls back a little and there's no sellers. It's like okay. You know? Right. Right. Well especially like with the Euro like we've talked about this before like with they were bashing the Euro economy saying it's slowing down and what have you and that's something that came out yesterday and today all the numbers they defied their consensus of what they've been saying for months that there's a slowdown. All their numbers are showing there's not a slowdown in the EU and especially in Germany you know. So and I think that's why you're getting this bounce again because we've talked about it cannot hammer it below 112 it just there's nothing to push there's no sellers down there to hammer new lows all the buying costs. That's going to get intriguing man you know because you have Asia I mean the Shanghai market is on fire man that came off those lows in January 3rd and I mean that thing's already up 30 excuse me up 30% you know if Europe starts moving up currency wise too then it's like okay man we already went through a downdraft you know whether the world went through a downdraft I don't think we went through a downdraft but if the acceleration starts then I guess it's going to be game on as to what economy is going to be running then you know the fastest right as to where these currencies want to go. Well the velocity of money kicks into gear you know so and then all of a sudden that's when you start to get serious trends again in the currency and the carry trade like we said before over the past couple weeks is pretty much off the table I mean now we have this extreme dovishness going it seems like who can be more dovish now across the central banks now it's like a competition you know. But I still think the carry trade is off the table. Yeah and it would seem I mean you know I know we have the dovishness out there there's no doubt an interest rate hit a low last week but the market's at highs so it's like okay what's everyone so dovish about right now I don't get me wrong I want the interest rate to stay low. You're not the only one. You know but it's like okay if everything's going up and it seems like you know the cash flow is there it's like okay when are they going to make a turn and say okay maybe we will raise rates one more time you know. So you guys the one thing we have to look at though is look at oil you know oil is really high and we're hitting this this three dollar when you have for regular unleaded when it's at the three dollar mark or higher that's when people stop spending it's not that they're going into trouble yet because people are making good money but if you're three dollars and you're at the pump every time for the average person that's when they start thinking you know what this week we're not going out to dinner with that third on Thursday night. It's a big number. Yeah all of a sudden it's 50 bucks at the pump. In no time right. That's for nothing. Right. I'm real. Well listen man you have a great one safe one look forward to speaking the next Wednesday Teddy. Thanks guys. Thanks Teddy. And listen folks you can reach Teddy every trading day at 4x-4x-trading-unlock.com. Tommy and I come right back folks. Thank you. Bye. Bye.