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Good morning,
-Squared up USDJPY and CADJPY before the bigger drop yesterday as it didn’t smell good at all. Trump not denying the Japan trade warning line, I wouldn’t either if I want to keep the pressure, is probably going to cap JPY pairs. Tough to see USDJPY rise above 111.00/15 before the weekend even on a better Us labour report. May try a short there if seen. Earnings undershooting are not going to help things to much either.
-Temporary covered the short EURNOK as IP disappointed and the uncertainty over Swedish elections, trade may take its toll a bit more. I’ll see how it reacts back arnd 9.77 or 9.85/87 for a possible re-entry.
-A tad long EURUSD again from 1.1625. Pa suggests good bids 1.1600/15. Will see how this afternoon’s US employment report decides upon affairs. 1.1670/80 the gateway to 1.17s again.
-A bit short USDCAD from yesterday. Wilkins is one but also Trump saying a deal may be close and good for US farmers. Deal is a deal, should have decent implications for the CAD if anything, despite Canada not seeing a deal before the weekend. 1.3210/25 did its work yesterday, let’s see of we can get 1.3085/90 out of this.
-Long EURCHF from 1.1250. 1.11/90/00 should hold or this position will be bait for the sharks.SNB’ reserve data hinting at them having taken some off the table when USDCHF traded close to parity and EURCHF in the 1.16s. The balance sheet equally came off a bit. Creating room for the Jordan boys to step back in but it also tells us they won’t refrain sitting on the other side at decent levels for them.
USD positions will be scaled down ahead of US/ Canadian employment reports if the levels are not giving me enough leeway.
Safe travels and happy hunting
Friday already. This week has flown by.
USDCAD half a short running still from 1.3218. Overnight stop at 80 was out of reach for any retrace fortunately.
USDJPY long at 110.60 following the Trump/Japan WSJ story was halved at 70 and the BE stop was hit overnight.
EURCHF missed my next bid at 1.1210 by 2 pips. Annoying but shit happens. I’m going to move it down to 05 now just to reduce my risk a touch if we come back down there too quickly.
USDCNH short still holding.
NFP is obviously the big action of the day but as it’s going to take something special to move markets, the better focus might be on the CAD jobs numbers also out. Don’t forget to enter our NFP competition. https://www.forexflow.live/2018/09/05/news/a-special-prize-awaits-in-the-forexflow-nfp-competition/
Good luck everyone.
I’m holding very little as we make the final run for the Friday door.
I always like to have a clean up at the end of the week as I never want to hold too much over weekends unless I have a big view on something. My position clean has been an easy one this week as I’m down to half trades on everything after taking off some pips.
Small trade in short Dow with the remainder at my b’e — Half a position long EURAUD — half remaining on my EURCAD short from close to yesterday’s top. I’m not the biggest fan of NFP’s but I could be tempted to have a dabble after the data, I will watching USDJPY for a short above 111.00 .
Have a super weekend and hope the sun shines on you .