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enjoying harry syndrome in this morning
i have a new one for you : sell eu rallies and buy dx dips the puts in money
now and will be defend it 1.15-1.1530 turned a good sell zone for
now… not ruling a tactical sell usd from emerging markets to go back
higher again
cpi unless it shoots non event
have a nice weekend all
https://www.tradingview.com/x/Jn3Xastr/ shorted it at 7500.
great call Q, thumbs up
I’m a USD buyer, until the sentiment is not changing. I expect the nervous market will continue during the day, with another wave in NY open. Carefull trading!
short EU and looking to reshort GU
JPY buy may be an alternative to park the money as safe haven in a volatile environment.
Good morning,
And a very good morning this is being short JPY crosses. Still short USDJPY(full) and EURJPY parts, took some profit on the 127.45 fib while dreaming in my sleep about sushi and sake…
European, but not only, bank’s exposure to Turkey’s articles made 1.15 bucket overflow. It was coming, we updated on risk being sold throughout the day.
And this isn’t over. Loads of data to come out. And if the numbers would point into the current direction, please trade carefully as it has already the looks but could become a full whack Armageddon day.
Especially if US CPI would disappoint, there may be one of these classic USDJPY sell off days in the making.
Selling risk rallies is still my bias until someone tells me the overall mess is just a mirage….
Still we need to be prepared for the unexpected. Tightening stops is not such a good idea in a wild market as nearly guaranteed to be done just because of the increased volatility. One should adapt the trading sizes in such markets. I’m in summer mode size already, so I can keep a stop on USDJPY short at a reasonable level above 111.50.
Safe trading and happy hunting
Morning all.
I’ve already put a few thoughts up on site amid the mayhem.
The moves today have reinforced why I will only trade some levels when I’m sitting in front of my screen, rather than leave orders in. I posted on cable this week about looking at the 1.2770 area, waited all week, and could easily have left an order in but I didn’t because I like to see why a price is moving. That strategy paid off because I would have been stopped out on an order.
The point is, don’t just blindly trade the tech while ignoring what the price action is doing. There are no losses if you decide against a trade, even if you’ve been waiting some time to do it.
Good luck today folks and stay safe.
Hi Ryan .BY BREAKING 1.15 IN E/U , IS THERE ANY CHANCE FOR RECOVERY IN E/U?
Honestly,I really got disappointed by this break in e/u especially after trump’s comments.
I am really wondering if it is an indication of long term short in e/u or kind of false break like what happened on 24.8.2015 .
any idea?
thanks.
Hi Arash
The break looks pretty definitive at the moment. What’s your reason for wanting to see a recovery?
There’s no denying it’s in a bear trend so selling rallies into the key areas looks the best trade right now. If you’ve been reading the site regularly, reader Harry has been picking the levels like cherries off a tree. 1.1500, 1.1620/30 & 1.1730/40 are the big points to watch up top.
Support wise, the 200 WMA is just under Friday’s low and then 1.13 is the next consideration.
Very thanks for your time and consideration.
Honestly ,I do not have any fundamental or technical reason for recovery.
But from my experience in e/u there is a very strong case in 1.1570, and weaker one in 1.17 for testing.
However I am not brave enough to buy a falling knife .
I think that’s very sensible reasoning.
there is a point here from jpm:
JPM: The latest break of $EURUSD
below the double-bottom from May/June at 1.1509/10 finally delivered
the missing and internal 5th wave sell-off, which has already reached
its projected target zone between 1.1449 and 1.1306 (50 % of the
2017-2018 rally/weekly breakout line.
I’m glad that we have Forexflow to know thoughts of all you guys’, especially of Ryan, Kman, Super H and Si (I still can’t believe he is gone). At this moment when global uncertainties have accumulated to a level making its first wave of impact, currencies performed just like what they’ve been doing in the history, from weak to neutral are EMs’ commo, euro, gbp, usd and jpy, I think this will be lasting till the world find some comfort and I will trade them accordingly. So in short, I’m looking to add JPY longs, have a good hunting all.
Thanks Chen and I think you’re spot on.