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Welcome to the new trading week. Very light on data for the coming session, though the Brexit saga continues to roll on and will be the focus once again.
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Good morning all,
-Still a bit short EURNOK
-and USDCAD, where I look to add towards 1.3060/70 and tp on excesses to core close to 1.3000 for now. We need a 1.2980/90 break to accelerate.
– I’ve cut the tiny sliver long cable I had running at 1.3122 this morning but not overly bearish either on GBP. Politics can turn on a dime, especially Brexit as we’ve seen already a few times. 1.2980-1.3070/80 to watch.
EURGBP 0.8770/75-0.8855/60 are the boundaries whihc will attract my attention for hold/breaks.
-EUR is resilient for now despite Merkel’s allies poor showing. It may take time for more mess to hit.
-In the meantime JPY is the one currency benefiting all of this despite the approval of an extra budget (more spending). We’re on Sept 9 and 17/18 lows USDJPY 111.60s and a TL support coming in there from March, a break of which could see and acceleration towards the 110.76 fib.
-Watching the AUDUSD 0.7095-0.7140/45 range for action. No preference although commod currencies, helped by commods/metals demand remaining underpinned. Dips demand seems a bit more solid.
There A LOT going on already and still to happen this week. Opportunities a plenty. Wishing you safe trading and happy hunting.
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Gold has broke out the box where it consolidated in the past two months,now testing 100DMA at 1229. I’m looking to buy dip above 1207. And still waiting for better levels to buy CAD against USD, EUR.
Ahoy hoy
It has been a good Asia session scalping in the room. I’ve taken advantage of some JPY strength by selling into USDJPY and GBPJPY — GBPAUD has also been a nice short trade from the Asia session with part profits banked at the last hours lows. A fall below today’s lows will have me adding back for a shot at further weakness.
Dow J, US30 shorts are still active and very much in play. We need to see a dip and hold through the lows Thurs / Friday for a new leg lower to begin.
Be wary of those GBP trades as direction could change in an instant on Brexit negotiations / news.
Have a super day ?