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I added to my short EURUSD position as suggested here Friday. Banked part profits before the close.
Holding some short in NZDUSD still — A little quiet in the Asia session with no new trades opened ..
https://www.tradingview.com/x/AZGqx9pP/ should we short this
as strategy taught by you https://www.forexflow.live/2018/02/05/education/two-strategies-for-trading-price-indicator-divergences/
I always like to let things settle down early on Mondays . Let things find a direction and tend not to chase too hard unless we get some big movers or gaps on the Sunday open. All rather subdued today so far.
Morning folks.
I jumped into a AUDJPY long last night on the open as per my thoughts posted yesterday 82.559. Not messing with it in thin Monday markets so stop is now to break-even and looking for 83 area, but will review that as necessary. See how that goes after shorting it Friday from 82.621, taking 82.470 together with a short SnP`s on Friday at 2687.31, taking 2661.48.Entries called in the live room.
I placed a pending long in Cable last night at open for 1.39860 in-line with my thoughts on Cable Friday. That hasn`t been filled and might need to be scrubbed. I`ll put some thought into that now.
So for now, it`s onto Eurozone PMI`s and most importantly for this morning`s purposes, German PMI`s. That`s the biggie folks until Uncle Sam shows a leg.
Thoughts from the live room:
EUR
futs signal some bearish slant after Friday`s CFTC print. Open
interest scaled back bt 3.8K contracts on Friday from Thursday`s 508,084
contracts but with volumes increasing by almost 22K contracts, so a
bearish slant there ahead of EUR prints. Choppy at best.
GBP
futs however have seen almost 12K contracts reduced on Friday vs
Thursday`s print with volume dropping 18K contracts. That implies a
slowing of the downside pressure that had prevailed. and can account for
the support in Cable 1.4 and spike below..
That makes me think that
IF Cable can settle above the pivit 1.4034, she can rally a little
harder. Stay below that level and 1.4 will likely be revisited
Taken the Cable pending off for now. Play that by ear. See if bids around 1.3970/80 hold…offers 1.40340/50 holding for now
I went small EURUSD again at 1.2283 into the European open. USD’ getting support from the yields with 10s knocking on the 3% door, 2.98% writing this. Spreads also widened a bit 2-10 now just back above the 50 line at 51bps this morning. Not a long term position, will see how we fare between 1.2240 and 1.2300 on this one.
I likes the sounds of that K miester ?
As I sit down the pound is on the blink and it looks like we’re on bond watch again. US 10’s have just broke some intraday resistance around 2.98% so we look intent on having a crack at 3.0%. How much the dollar follows today will be the question. https://www.tradingview.com/x/ZdeFSVjQ/
Shorts taken in EURJPY and cable live on the homepage news feed
Shorting EURCAD here 1.5692 with a stop a few ticks above the days high – Scalp trade for now – small risk