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Shorting the GBPUSD with similar market behavior to Wednesday’s trading
The GBP pairs have been very active since PM Liz Truss came to power. Last week she fired her Chancellor of the Exchequer. On Friday, the Bank of England’s emergency bond buying program ended. The newly appointed Chancellor of the Exchequer, Jeremy Hunt is trying...
Shorting the GBPUSD as Britain’s new Prime Minister struggles with her promised economic agenda
The volatility in the GBP is not likely to dissipate soon. Both the GBPUSD and GBPJPY moved in tandem downward today with the recovery of the USD. The GBPUSD was unable to close above yesterday’s high during its Asian session and the U.K. traders began their day...
Trading the EURUSD long on Wednesday and Thursday as the USD finally moves a little lower
I’m combining two days of trading in one post due to time constraints. The USD which has been very strong against other currencies finally had a couple of back to back days of weakness. On Wednesday, the EUR found a bottom near .9535 just before the U.K. open, it...
Long the EURUSD for a short-term countertrend trade
Countertrend trades are tricky and tend to yield less in profit. If you haven’t mastered trading with the trend, then taking lower probability trades against the trend, should in my opinion be avoided. The market may be trending strongly as the USD has this year –...
Big moves in the financial markets and the GBPUSD drops precipitously after sweeping tax cuts announced by U.K. Prime Minister Truss
The GBPUSD made a series of three lower highs today, one in each session, then it plunged to new lows… not seen in decades. After rejecting the 1.1100 level a short was taken as the U.S equity markets opened against a backdrop of a very strong USD. Price made a...
The U.S. Fed raised the central bank rate by 75bp as expected and today the EURUSD continues to trend lower
In the month of September the U.S. Federal Reserve, the Bank of Canada, the European Central Bank and the Swiss National bank have all raised the interest rate by 75 bp. The Reserve Bank of Australia and Bank of England made 50 bp raises this month and the Reserve...
Shorting the EURUSD after the 1.0100 figure is rejected
The ECB raised interest rates by 75 b.p. yesterday with hawkish talk of more rate increases to come. Canada too had raised interest rates earlier in the week by 75 b.p. This helped the EURUSD move above par during the Asian session today. As the U.K. traders...
Back from holidays and shorting the GBPUSD early in the U.S. session
Britain has elected Liz Truss to be the new Prime Minister replacing Boris Johnson. The U.S. economy remains very strong, as does inflation, which suggests another large rate increase from the Fed later this month. The current trend for the GBPUSD is lower. As the...