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A tad busier on the data drop in the coming European session. All lower tier and shouldn’t have any magical market moving properties. Keep eyes on the Brexit headlines after they placed a bid under the GBP yesterday. The Canadian corner of the NAFTA triangle could cause some waves in CAD later.
** I’ve lost the disqus app until next week due to my location. I’ve been buying into CAD against various ccy’s and caught the Kiwi drop today. EURUSD seems supported and I have turned dip buyer for the short term. If we get up towards the 1.1750 area I plan ( depending on the price action around the level ) to attempt a short trade.
Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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Good morning,
Long EURUSD, long NOKSEK, gave up short USDJPY yesterday but it could come back into play.
Selling small USD rallies into month end. Could all reverse tomorrow night but one step at the time.
Been a tad long cable as well to accompany the move yesterday, sold out close to 1.3040 this mrng.
It’s possibly 2 days Buba buying EURGBP but in between , I expect cable to remain bid on dips. Looking to buy it at some point again, maybe this afternoon.
Stay safe, happy hunting
Very good morning traders
A busy one yesterday.
USDJPY short – I stopped myself out at 69 in the afternoon break through 50. I had enough chances to take some partial profit into 111.00 but didn’t as I wanted to push for more. I paid the price for not following my current strategy.
EURGBP long – Trailing stop hit at 70. A nice run for that one with a partial TP up at 0.9091. I also went bid at 0.9040 hoping to pick up the dip. The low got to 41.9 before bouncing back to 70. Fortunately I pulled the bid because a second move back to 40 would have spelt trouble and that turned out to be a good move when the Barnier news hit. I’m neutral in that pair now while I wait to see how all that develops today.
GBPUSD long – The ‘Barnier Buy’. It’s not often we get a chance to grab a headline trade but the price stuttered at first and I hit my button when it was 1.2916 and got filled at 25, so a decent grab. A scaled out on the way up and my provisional overnight TP got hit this morning at 1.3040. As per yesterday’s post, we have a potentially strong resistance area up here https://www.forexflow.live/2018/08/29/technical-analysis/gbpusd-is-still-not-finished-with-1-30/
I’m tempted to try a short into it but want to see the PA this morning and whether we get any further reaction to Barnier.
A big shout out to the guys in my trading room who jumped on the Barnier headlines too for good pips, and a huge shout out to Livesquawk for being bang on it with the headlines, which helped me with the quick reaction.
USDMXN and USDCNH shorts – Still holding.
I hope you have a great day and just watch out for some EOM noise.
Good luck
Also, a big shout out (though he probably won’t see it) to Dubs for an awesome jobs he’s doing in the room. If it wasn’t for those poxy panda’s we’d hear a lot more from him.
morning all yesterday’s price action in US session had me caught on the wrong side but fortunately some hedged trades saved me. lot to recover yet. sold usdjpy at 111.82 and plan to hold it for long. any reason for the euro to be bid after US data yesterday
Sorry to hear that Nach. It’s one of those unknowns that can be horrible to be on the wrong side of. Glad it wasn’t too painful as you had your hedges.
I still do believe that whole Turkey thing will continue to have significant impact on EUR. Once this month is over and if TRY keeps bleeding, EUR will bleed as well due to that and other reasons as well ofc (economy, political disputes in EU, Brexit etc). Also technically on long term imho 1.05 could be eyed as we have a cross of 50SMA and 20SMA on W chart.
Cheers all
I am expecting 1.12 next month itself. if things go wrong 1.08 is also given
1.12 looks very far away right now.
turkish lira is getting spanked all over the place. 7.00 looks in sight now