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1000 GMT — BOE inflation report hearing. Probably more pressing issues for the GBP this time around.
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Ahoy hoy
I’m the proud holder of short Dow Jones US30 — Long gold 1/2 position.
Hanging onto a half possie in short cable from last week..
The AUDCHF short trade finally gave me some decent pips yesterday and I closed out the position from 0.6319.
My short USDCHF has been halved. I still like the shortside, although a small bounce here is not out of the question. — I did not get much scalping done in the Asia session . I currently have my second short trade in NZDJPY open from 77.23.
USDJPY looks favorite to keep on weakening. Closed out my short on Friday and rather missed the boat on this weeks continued pressure. Will be looking to sell on any rips.
Have a super day ?
Very good morning to you all.
Updates:
USDJPY short keeps going. I’m looking for close to 112.00 to tp as I can see that level putting up a fight.
AUDUSD longs was stopped on the bal yesterday. Like many others in the trading room, I’m going to be watching 0.7250 to the 0.7330 highs.
USDCNH shorts are still cooking away.
I’m offered in EURUSD at 1.1495 and leaning against the tech around 1.1510/15
We had a masterclass in candle trading by Dubs and a brilliant lesson in discipline by Kman in our webinar yesterday. Plenty more of those to come.
Good morning, bit late to the party.
-Still short USDJPY. Commods off, oil off, US 10s on the 3.00% approach, 2-10 spread coming, EU budget and Brexit uncertainty keeping the JPY in a good place, together with CHF. I’m planning to trade excesses around a core short around in the 112.20-90 range for now, targeting 111.60 on the core for now.
– Took half off AUDUSD longs yesterday,, just reloaded at 0.7254 ahead of the 30/50 support zone. Will stop @ 0.7220 , which will make it close to a zero sum game or trade bits around 0.7250-7300/30.
-Bought EURNOK against the EUSEK shorts yesterday , short NOKSEK de facto but will rather trade the legs arounds. Looking to offload the EURNOK 9.76 or 9.80 to get back into EURSEK short.
-Small short USDCNH still but that one may will probably leave the ship ahead of the G20. There wil be enpugh time to re-enter.
I had spotted the Powell/Clarida/Kaplan change of tone last week, short USD worked well but now every single strategist or forecaster is picking up on it with lower USD calls. That’s enough for me to get cautious as to not getting carried away with the short USD trade. Short yes as rates are sliding and expectations for further rate hikes are slipping a bit but don’t forget to trade some ranges and stay alert for another change of tone by the Fed boys.
I have a feeling that EURGBP is a buy at some stage as EU won’t let UK off. Any give in on the backstop will ,as several countries now hinted, be met with compensatory demands(could be on services, fishery or…?)
But I wouldn’t like to enter to early. Plenty of headlines to hit still. Low 0.88s/ high 0.87s would attract my attention.
MXN is losing investors’ faith. I may buy 20.10/20 dips USDMXN, could see a return to 20.65/70 or even 21.
Stay safe and happy hunting
Hello K-man. Any particular reason for NOKSEK short or weakness of NOK against EUR. Crude oil drop or something else ? Thanks….
Hi Prutar sorry delay.
Well first I was running a short EURSEK (in the idea Sweden’s rate hike puts it close to 10).., but since we were stalling, I bought some EURNOK (as a hedge)that started to hold 9.61/62 . That’s one reason, then oil isn’t rebounding much, two and (even if I’m not the greatest fan) 3. seasonals play a bit against the NOK . So it’s not really a NOKSEK, hence I said “de facto”. I will play it via the EUR legs.