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0730 GMT – SNB monetary policy decision ~~ 0830 GMT – UK August retail sales.
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Closed my EURAUD shorts at 1.6060 yesterday. I intend to reload again as soon as this small bounce loses steam.
Holding a small EURNZD after trimming down before the Kiwi GDP data. Again I’m watching to add back on any strength.
There’s something about these weaker Yen moves on the crosses that doesn’t feel right with the USDJPY frozen to the spot since BOJ yesterday. I’ll be watching the higher levels, and / or for any signs of weakness in EURJPY and CHFJPY — AUDUSD acting strong again along with Kiwi . Both look decent buys on the dips if not in already.
Have a super day.
Good morning,
-Scaled back EURNOK into Norges bank , but added again 9.59 to be about 1/2 position short. That bit may leave the ship soon if 9.6250 goes, not going to risk much on it. If it holds, we can expect a gradual move lower again imo once the smalls lower rate path(still hiking) is digested.
-1/2 long AUDUSD from 0.7245 , sold a part at 0.7272 yesterday. Plan is to hold the rest as long as 0.7220/30 holds.
-1/4 short EURAUD, sold 1.6105 yesterday , bought back the best part at 1.6060, one of Super H magic levels( cheers mate!), looking to add again at some point.
-1/2 long USDJPY. Abe re-elected, should start to spend again soon. I think (bet is a undiplomatic word ;)) Japan will avoid trade war with US by promising more investments, which should spur more JPY sales and keep up Japanese equities.
-1/3 long cable 1.3196 and 1/3 short EURGBP 0.8867 on better data out of the UK and despite peacock fights between EU and UK leaders, Brexit woes seem to less and less bother traders until it really happens or breaks.
Trading ranges in the rest with a sell rally USDCAD bias, Nafta should come through in the end.
EURUSD seems to see strong hands trading that 1.1650-1.1725 range. A break could see a quick move develop, but watch out
for false breaks in current environment. A headline could cause a180° any time.
Safe travels and happy hunting
Took a small 11p on the EURGBP. Can’t keep away from the idea that EURUSD could see a sudden tick up and keep EURGBP just where it is. Cable should jump with it though, keeping that one, stop moved up to B/E
Morning traders
Some very fine trading conducted in the trading room yesterday. If AUD seems propped up it’s likely due to Kman, H and some of the other folks buying it up yesterday in AUDUSD and EURAUD. One of the strongest trading signals I’ve found is when a lot of very experienced people all analyse the market separately and come up with the same conclusions.
I’m still bid AUDUSD down at 0.7225 but in one sense, I want it to rocket from here so the rest can bank the pips for getting in early.
As per yesterday, I’ve finally got a GBP long on, even if it was a bit lucky. Got to be in it to win it though. I’m happy to hold this now and try to build a core long position into the Oct/Nov EU summits. Bad news is minor news now for the quid as we’re circling a Brexit deal. There’s still huge risk in what a deal will look like and it will probably run to the 11th hour as usual (and like the last big agreement, possibly the 13th hour).
Other than that, my slow roast USDCNH short continues to go sideways.
Have a great day everyone.
Short gbpjpy@148.3 tp 145, eurjpy sell pending; expect a break towards upper1.175 levvel
Bullish on pm&commodity.. (The stagnant PA action on UJ tells a lot or shed so little info re direction, whille bias remain on the bearish side, one “might” hedge accordingly on options/futures–OTM calls!?
Finally! Hmm..US EQUITY market– Oct/Nov Puts are in order, wait&see mode meanwhile:)
Short or long guppy with that TP?