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UK data taking centre stage in this session once again…….. UK retail sales 0830 GMT
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morning all
eur : still a rally seller 1.1675-1.17 and remain hard to go there as per my post yesterday
hard brexit there for a rally seller waiting retail sales maybe we have an algo spike
still ej rally seller
dx dip buyer :. the next range in play will be 95-98 and soon 94.80-95 will turn into strong support
Morning big Kebab ?
morning big H hope you are doing well ..yesterday i ate kebab and really talking i remembered you
LOL ….Dont make me jealous
I am still a seller of Cable and after a very hard week for the UK government it appears that it is not going to get any easier. Raab meets Barnier today and I expect the impasse to continue. I may exit my short on Cable around the retail sales data. I’ve been burned a couple of time this week on shorting USDJPY, getting stopped out. Picking tops is not my strength and the markets seem to have ignored Trump’s misspeaking. However as highlighted by Dubs I have shorted EURJPY.
so i went out BE on GBPUSD longs (from yesterday). I was thinking we could get @ 1.3108 first (Fib 31.8 % from last high @ 1.3270) before we attack 1.30 again. But there you go
Now I’m on a USDJPY long train (again) cuz PA looks promising (DXY too)
Today went small EURGBP short but now I’m out with 10 pips less in my pips bag. Don’t like PA atm, and will short at the top again.
I suffered a small loss on cable also yesterday Zoran . I feel your pain . Headlines rule in that pair for the foreseeable future ?
Morning folks. Still not much on my slate after the break. Took a short yesterday late in the room on GBPAUD to run into Aussie jobs from 1.76559. Paid me 1st support 1.7585 to get me up and running.
I had taken a Guppy short earlier but bailed with +3 pips. Odd markets or it might have been a simple bottled it on the 1st trade back 😉
Took a long CADYEN`s, my old friend in recent weeks. 85.513 in the room and surprisingly, going nowhere. Stop 85.380.
General consensus in the room is that UK retails might print well on pints sold during the World Cup and give a nice short entry. Just a word of caution there: May numbers were helped by the Royal wedding. Expectations for this June print are lower. World Cup sales in June will have something to say, but this report might throw up a few other surprises either way with the good weather and very good (Visa) on-line sales . I won`t be throwing any kitchen sink at it. I believe the number for July will have more to say as the England team went further than was 1st expected.
So caution on being a hero focused on picking the top perhaps? Read the report. There is always a way in on a genuine move, once the move is known.
Happy hunting folks and stay safe.
Good morning world,
Got a bit of stress last night on my short GBP with that CityAM I must say but the 1.3080/90 held the short squeeze in check.It seems all’s coming good now. Retail sales should be good ahead of the WC is my thinking but that should equally not come as a surprise. Same area will be my barometer for success for this position and of course 1.30 to the downside. A break should see 1.2950 at least.
Long a tad EURGBP, could be one for month end upcoming as long as 0.8870/80 holds.
Boj smalls cut their 10-25yr and +25yr jgb buying again overnight with very little impact on JPY. Tempted buy JPY via crosses but be long USDJPY. Leaving JPY alone till CPI’s barring a few scalps here n there if the timing is right.
Looking at medium term EURCAD, still feeling like being short this cross. May be building up some position cautiously as a return to 1.5425 is still not to be ruled out before lower.
USDZAR long got stopped unfortunately as I myself did not respect my “summer” rule to give extra pips to a level. I re-entered tiny ate last night but will need to sharpen up.
Finally MXN undone the Trump bilateral talk call as the expected Mexican reaction that it only wants NAFTA (for now) didn’t wait for to long . USDMXN, as discussed in the room is building a strong support zone around the 18.80/82. That is going to be the floor to drill if we want to see it into the mid 18s.Holding means we could see 19.25 or even 19.40/50 again if next week’s US-Mexican talks would take a sour turn.
Safe travels and happy hunting