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Happy Thanksgiving to the dwellers and former colony across the pond . Liquidity will be vacuumed for the sessions, so take extra care today.
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Good morning, happy turkey stuffing and food( or other) hangover!
-Short Small USDJPY as long as we’re holding sub 113.20/25. Covered some earlier this week and playing the 112.30-113.20 range for now.
-Short EURCAD, entered in the room yesterday at 1.5150 into the 50-72 resistance area; Took partial profit at 1.5075 last night. Going to trade the 50/50 range for a bit with any excess.
-Back short small EURSEK after having sold the EURNOK hedge arnd 9.7580. Norway’s CB survey did show a diminished optimism for NOK this morning, I may re-enter the hedge at some point as 9.70 held.
-Still a tad short USDCNH and playing AUDUSD from the long side inside 0.72-73 on a better (speculative for now) outlook of the US-China G20 meeting. I will square it al up just ahead of the meeting as never know. If it turns out well, always can re-enter for the longer run.
Thanksgiving means less volume, projected tighter ranges but equally less liquidity, giving more surprise effect possibilities for natural flows to impact out of the blue. Take it into account when having positions, the tech level lines could get blurred for a few pips these days before coming back to normal service.
Last little observation: BOJ’s Kuroda talks every single day now, haven’t had this sort of frequency before. He’s not giving us any bone to chew on so far but with him we never know. He may drop a feeler into one of his speeches at any time. Unexpected since Abe-Aso are putting a 2+Trn JPY stimulus package in place to counter the next tax hike Oct 2019 but we have to “expect the unexpected”.
Safe travels, happy (turkey) hunting .
Good Morning Everyone
Had a scout around the majors and nothing stands out so with Brexit and US holiday think I’ll take the day off
Sounds like the best trade of the day FXJ.
Good morning pip bandits
Firstly, happy Thanksgiving to our yank readers. Don’t over do it on the sprouts 😉
Barring any big headlines, FX should be pretty quiet. Each time I write that I’m hoping it’s the kiss of death. Holiday markets can bring opportunity but they can also leave you and your trades hanging. That makes it imperative that you pick your levels wisely and keep trades tight. If you go offside then you run the risk of being stuck offside for a long while and doing more damage when the market comes back to normal.
Usually the main trends and themes don’t change in holiday trading conditions so if we do see a sizeable move that’s out of sync with those, that can present a good fade opp.
For possible opportunities, I’m watching 112.80-113.10/20 in UJ, 1.1380-1.1420/40 EU. AUD I’m 0.72-0.73. I’m not likely to touch cable due to the Brexit headline risk, as that’s one pair you don’t want to be treading water in.