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Welcome to another whopper FX week. We trust you had a pleasant weekend, and that the moves so far have been kind to those of us brave souls who held an interest over from the Friday close. The US / China trade truce has been given a thumbs up by the market early doors. Made a tad confusing by the differing wording of the statements released by both parties. More clarification is needed, so expect markets to be edgy going into today after the initial euphoria.
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Morning all.
As Dubsy says, it’s not a double thumbs up to the China deal and FX is reflecting that.
I’m going to run a trailing stop on my USDCNH short slice 250 pips behind the price, and I’ll see where this news takes us.
I’ve a feeling that this positivity isn’t going to last and that stocks will be the indicator to watch.
Have a great week all.
Ahoy hoy
GBPAUD – 1st target hit for +301 pips . Placed that in the room and on our live blog on Thursday .
1/2 banked and gunning for much lower still.
CHFJPY – Made decent pips Friday and entered again in the trading room – short from 113.82.
Entered short NZDCAD today at 0.9148 with an open target . Stop loosely above 70 .
Letting the dust settle here. Market seems confused as to the next directional moves after the’ gappy’ open.
Have a super day and a fine week ahead ?