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Long the USDJPY as risk appetite continues following the U.S. – China phase 1 trade agreement
It appears that the U.S. – China trade agreement phase 1 is done, but the details remain vague still. Regardless, the equity markets are up, as is the U.S. 10 year yield today. A long was found in the USDJPY risking 5 pips for a potential 33 pips to our...
The falling USD continues today as it has all week.
Currency daily ranges remain subdued as the U.S. – China trade talks on again off again nature has constrained trading. A healthy skepticism for the Phase one signing by year end or even before the U.S. election is warranted. We hope it’s the former and not the...
The majors are active today after very quiet ranges during Thanksgiving week.
China’s Caixin manufacturing PMI beat expectations yesterday and the USD started the week softer and declined further with a disappointing ISM manufacturing PMI for November. With the weaker USD versus the majors, a long was taken in the EURUSD risking 10...
Shorting the USDJPY as U.S. – China Phase 1 trade pessimism weighs on the markets
Over the weekend tension resurfaced with the U.S. – China trade talks once again and the USD weakened on Monday. The market is becoming skeptical of a Phase One signing being imminent and as the rhetoric commences about an increase in tariffs if an agreement is not...
A stronger Euro and weaker U.S. dollar to finish the trading week
The EURUSD 1.1000 level has been supportive all week. The USD was unable to get any sustained traction higher. Today the EURUSD began to move higher and a long was taken risking 8 pips for a potential 25 pips to our daily target at 1.1047. The 1.1050 –...
Shorting the EURUSD with nimble figures hoping for a test of the 1.1000 figure
The EURUSD continued lower today as the USD strength continued. The USDX sustained move higher above current support at 98.00 is bullish as we go into the weekend. The question today was whether or not the EURUSD would test the 1.1000 figure. As it moved...
USD strength continues today after a pause yesterday at 98.00 where it has faded recently
The currency markets have calmed down after a very reactionary and volatile several months. In my opinion, the markets are looking much more tradeable now. The U.S. – China trade agreement although not yet signed is looking like phase one will now be signed in...
The markets are active again as the U.S. – China trade talks progress toward a phase one agreement.
Risk appetite has returned this week, with both the U.S. and China progressing forward to signing the phase one agreement this month. This has caused the USD to move higher with each whisper of good news regarding the positive developments. Similar to Brexit, it’s...
Shorting the EURUSD
After a second failed attempt to rise above its Asian session high, and a bearish engulfing candle, a short was taken on the EURUSD risking 11 pips for a potential 44 pips to our daily target at 1.1121. There were a number of U.S. economic news releases today so we...