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An interesting week but it ends positively
The markets have become volatile in October once again. It was a shortened trading week in North America and equity markets were making the headlines as they began to sell off. As U.S. yields continue to rise, the market participants looking for a safe return tend...
A lot of mixed signals today and a USDJPY long
The USD showed moderate strength today and as the U.S. session got underway, an entry long was found on the USDJPY risking 11 pips for a potential 39 pips to our daily target (not shown) at 113.82. Price moved up but failed twice to close above its Asian session...
EURUSD trends lower
The situation in Turkey has not been resolved. The markets are currently focused on the area and contagion through emerging market currencies as well as European bank exposure are weighing heavily. With a downward trending EURUSD, we were able to find a...
A stronger USD today and another short on the GBPUSD
After 2 days of being basically flat the USD moved higher today. The GBPUSD continued to trend downward and a nice short setup occurred early in the U.S. session. Risking 15 pips for a potential 68 pips to our daily target at 1.2825 we entered short after a 3...
The GBPUSD moves lower as Brexit implications continue to weigh heavily on the sterling
The GBPUSD moved lower today during a week light on economic news drivers. The 1.3000 level gave way last week despite the rate increase in Britain. Although 1.3000 may be re-tested, this pair looks like it may be headed lower to my eyes. We took an early...
Shorting the EURJPY during the U.S. overlap
The yen ran into some selling yesterday after the Bank of Japan’s comments. My bias remains to short the euro and today I waited until the U.S. session got underway to short the EURJPY expecting it to recover from yesterday’s move up. The setup required a 14 pip...
Back to shorting the GBPUSD in advance of Thursday’s BOE rate decision
The market has priced in a 90% probability that the Bank of England will raise the interest rate on Thursday. Expect the the GBP to be active this week in advance of the announcement, as we move into August trading. With lighter volumes price can be more volatile...
Shorting the GBPUSD as USD strength returned today
After progress was made with trade tariff talks between the U.S. and E.U. yesterday, the USD was able to strengthen today against the majors. As the GBPUSD continued to close beneath its Asian session lows leaving 2 bearish candles, the second of which had a long...
Cautious trading in advance of the Trump-Juncker meeting in Washington
The markets were appearing apprehensive in advance of the Trump-Juncker meeting today regarding the tariffs between the E.U. and the U.S. With the equity markets, USD and U.S. 10 year yield all down early in the U.S. session, the idea was not to trade the...