Friday 3 January. Happy new year!

It seems like a long time ago since my last 'market commentary', I would love to be able to say I've had an exciting, fun filled time. But unfortunately I spent the whole of Christmas stricken with flu. Not wishing to sound dramatic but I've honestly never been so poorly. The world has passed me by as I lay in a pool of my own sweat for 10 days.

I've slowly started to feel a bit more 'normal' this last couple of days. And I'm looking forward to getting stuck into trading again next week.

A quick look at the headlines shows me no matter how bad I think my week has been, tragic events in New Orleans puts life into perspective.

2024 was a particularly difficult year for forex traders, I suspect not many ended with profit. As uncertainty caused strange movement, particularly the uncertainty surrounding the BOJ and negative sentiment towards China. This uncertainty looks like it could remain. But hopefully the BOJ will soon announce peak rates. And it would be very nice if the FED turned a little more dovish.

But for now, it appears the new year is begining where it left off, with the higher for longer US rates narrative. And I'll currently begin next week looking for 'long USD' opportunities. Vs whichever currency has the most negative sentiment at the time.

I will be back with a more detailed view of the new week and year ahead. But for now I'll wish you a pleasant weekend. Thank you very much for your support this past year, I sincerely hope you've taken something from my thoughts.

Feel free to email any questions: johnelfedforexblog@gmail.com