The 0.9710/60 range has been traded and chewed, enough in my opinion.
- Risk off has had enough chances to break the downside, of course there is still a risk of flying missiles, that’s what a stop loss is for …
- Eurchf is holding, not even thoroughly retesting the 1.1470/80 zone, SNB is still not overly satisfied with the CHF level.
- JohnTaylor impressed Trump for the Fed chair job. DT seems to move away from his early in the office pledge to ultra low rates, by considering Warsh and Taylor and
Dove Yellen herself has struck a more hawkish tome lately. - Russia could pull the diplomacy meeting NK-US off in my view, even if NK declined “for now”.
- Entered half a position long @ 0.9740 , will be looking to add the other half on a 0.9770/75 break, this level really needs to pop for the position to spring to life.
- Target 0.9820/40 , 200DMA and previous top, where I will take half off, reassess IF and when. The weekly Fib extension comes in at 1.0095, but looking at the speed of this turtle…
- The stop will be placed at 0.9700.
- Small cherry : it’s a positive carry trade. If the market decides to continue to trade the range, it won’t get to quickly on my nerves ….
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