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Welcome to the new trading week. We trust you had a great relaxing weekend. Not much on the data docket for the European session.
0930 GMT — UK October services, composite PMI. All eyes will be fixed firmly on any Brexit news as the prime mover.
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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kiwi, nzdjpy, audnzd all telling nzd getting stronger. I want to long nzd pre rbnz
Good Morning both pound and euro look weaker this Monday morning so I am short the euro
Good morning all.
Grabbing some profit on the lows in USDCNH last week looks a very smart move now. I am looking to add back into shorts but I’m going to be a bit more choosy with my entries and will start from 6.97, rather than 6.95. I’m going to respect the fact that buyers have come piling in again so will look to tighten my risk by trying to get as close to 7.00 as possible. A key test for this trade is whether Trump was just blowing smoke up everyone’s arse over China due to the mid-terms or if there is something brewing. I guess we’ll find out after Wednesday when the dust had settled.
GBP has had another Brexit boost but is showing signs of tiring. 1.2950 is the important level here and I may look for a small trade off of it.
I still feel like EURUSD isn’t really at the party so I’m becoming more watchful of another downside move. If we get one, I’d be worried about the barrier at 1.13 at the third time of asking so may look to stick a sell stop just under.
I wish you all a pip-filled week.
Ahoy hoy.
I have my scalping hat on at the start of the week.
Short Dow and long cable positions on the books from last week.
AUDUSD needs to hold here after the drop on Friday. I could turn buyer if we get going topside again. All very cautious at the mo in that pai — r EURAUD and EURNZD started out weak again today . I missed my chance to get in short earlier, so will be watching these 2 closely. EUR being contained as Ryan remarked. I also cant make up my mind about this one, after closing my long from the lows on Friday .
Have a great week and steady day. Plenty of trading to come in the days ahead. Not worth trying to rush things. Let the trades come to us. ?
Good after morning,
-Flat in USDCNH for now, bought em nicely back 6.8850 and 6.8543 as per updates. Waiting for a clue or a return to 6.96 and 99 to re-enter. US midterms are a risk if HRO wakes up with a headache and blames China for losing. But still of the view 7 is not going to break ahead of the G20 late Nov. If China would receive an Iran related waiver, I may sell earlier.
-Short 1/3 EURAUD, monitoring 1.5775-1.5855 for possible adding, reducing. The antipodeans are holding very well despite the Chinese slowing data and trade uncertainties. But slowing data are getting a theme, in the land of the blind, the better yielders are king…
-Short 2/3 EURGBP and tiny long cable. Still having the view we’re close on Brexit. Tightened the leash on 1/2 this position EURGBP to just above 0.8781 to guarantee profit on the one hand and to keep room to manoeuvre if the need arises, which it usually does. Cable is small and will leave the ship under 1.2950 in case USD strengthens.
– Short 1/3 EURNOK, 8.49-56 ish is what I’m watching for action on more or less…
– I’m also having an alert USDZAR 14.20 -14.45 for a buy. Data are weakening. Indicators turning south for the Rand.
I may go in 2 small legs if I can get some lower 14.22 and around 14.08(tbd) with a stop under 13.97. Small as it’s wild . A break above 14.45 and esp 14.70 could be lethal for the bugger.
Beware if anyone wants to trade it. Got to be right relatively quickly as funding bites from the off.Jobbing the USD and will most likely be flat
I’m selectively bearish EUR due to data and yields. I’m jobbing USD vs majors as I have no clue about the midterms outcome, hence no idea about the direction the buck will go after. Option vols are quiet, telling me most expect the USD FX side impact to be limited, but I reckon it will follow the bond and equity markets. FX will be the result of.
Have a great week, stay safe and happy hunting.
Morning All , I often read the write ups here and thought it might be interesting for me at least to see if I could write one. First thing that struck me was how hard it is as I am a day max view with a med to longer term awareness. I hate the look done this after the event although interesting when matched with view forward but I digress.
Right up to the minute Euro watching on tender hooks for long opp as I feel 75 could be low of the day but not shown that break to be shore, either way its very close.
Cable now long but at earlier high if your not in wait to see what happen to this level. I feel its more of a positive day but as ever a bombshell is always a blip away.
Last of my three Aussie and the seemly never ending channel lol, not doing much so doing nothing at the mo.
atvb Chris
Welcome to the doing nothing club Chris.
The only things that have seen a bit of action today are my kettle and teapot 🙂
Hi Dubsy , yep nothing most of the time until I have some tea 😉 atvb Chris
https://www.youtube.com/watch?v=O6DFHh2XxLk