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EURUSD reversal sets up a short which didn’t pan out
Early in the U.S. session the EURUSD surged higher then made a series of lower highs as it set up for a short trade. An entry was taken risking 15 pips for a potential 47 pips to our daily target at 1.1248. Price looked like it could easily fall to its Asian...
Shorting the EURUSD as USD strength returns today
The USD had been very strong of late and yesterday it finally pulled back for a day. It continued higher today partly due to positive headlines regarding optimism with the U.S. – China trade talks, combined with another U.S. federal government shutdown being...
Shorting the EURJPY as concerns rise regarding the potential progress of the U.S. – China trade talks
The USD strengthened all week and China was on holiday celebrating the lunar New Year. On Friday the news reported that a meeting between the presidents of the U.S. and China was unlikely to happen before the March 1st tariff deadline. Adding to that was...
The EURUSD sets up for a short during the early part of the U.S. session
Fed Chairman Powell’s dovish wording weakened the USD yesterday. Although the reaction amounted to a quick abrupt sell-off of the dollar, it wasn’t an extreme move. The U.S. economy remains stronger than that of the E.U., U.K. and Japan. The majors are at or...
Back to shorting the GBPUSD as the impasse continues between London and Brussels
Recent amendments have done little, time is running out and unless the U.K. can take active measures to prevent a “no deal” Brexit it will leave the EU without a deal on March 29th. Last week’s optimism and rise in the GBP faded today. As the U.K. session...
A weaker USD today versus the majors and the USDJPY sets up for a short
The USD closes the week being sold and gold moved closer to $1300 oz. The USDJPY has not been over the 110.00 yet this year. It rose early in the U.S. session to 109.95 and ran into sellers and started to reverse lower. A short was taken risking 6 pips for a...
An interesting day for the USDJPY as it moved higher then reversed abruptly
European bourses moved higher as did the FTSE in London going into the U.S. session. An appetite for risk continued as the Dow surged higher after the opening, but it subsequently reversed. The USDJPY found sellers as it moved to test the 110.00 big figure. ...
A more subdued USD today and a short of the EURUSD produced modest gains
The EURUSD was more appealing with a risk of 13 pips for a potential 75 pips to our daily target at 1.1338. An entry short was taken, price moved down to yesterday’s low where it began to retrace in advance of the U.S. open closing our trade for modest gains well...
Shorting the EURUSD as the USD finishes the week with strength and global equities move higher
Overall the Euro and Sterling are not looking good at the moment and the USD is recovering well this week – as trade talks with China continue to sound positive. As the U.S. session got underway, the EURUSD broke lower and a short was taken risking 8 pips...