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Welcome to the new trading week. — A sparse data session upcoming, though trade spats and geo-political woes are running hot.
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Good morning traders, I hope you all had a great weekend.
Current book;
Short USDCAD From 1.30 to 1.31 – Happy to hold up until and possibly over the BOC
Long GBPUSD 1.31 down to 1.3040
Short NZDUSD 0.6595
Short USDCNH 6.95
The bigger worry for me right now is the cable trade as I can see another week of messy headlines and with the UK shooting itself in the foot again over domestic politics. I might have to do some tinkering to either work a better position or see whether I need to bail and come back to it another time.
I wish you a profitable week.
Good morning all ,
Early divers didn’t catch many pearls last night. I went a bit short EURJPY 129.58 with the idea the weekend news was negative risk. Worked for about 2 hours until the Chinese markets reversed on liquidity injections, pep talk from Chinese officials on the support for their economy and some vague smoothing chatter in the US-CH trade relationship. Enough to kill that try through 130.
We could still have a delayed effect as EURUSD has a decent resistance/sellers at 1.1550/60. We were chatting in the room about this level being pretty important tech wise, we could be in a reverse H/S or W formation if it breaks, with the confirmation of a double bum in the low 1.14s. Equally, if capped as it seems to be the case, we’re in for some more messy headline trading unfortunately.To be followed.
For the rest unchanged , still short EURNOK, EURCAD( into BOC) and a tiny USDCNH, building up towards 7.00.
It’s going to be politics trading again at the start of this week as data are absent. I’m rather a dip USD buyer agst the low yielders in current context.
Stay safe and happy hunting.
Ahoy hoy
Holding shorts in — Dowj , USDCAD 1.3105 , NZDCAD 0.8642 , USDCHF. 0.9972.
I have a USDJPY short opened today at 112.72. – very tight -8 stop loss.
Going to sit back and watch the action for a while. Mondays can be tricky, and this Monday seems to be no exception with narrow ranges so far .
Have a super day and a fine week ?