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“Risk off” sentiment prevailed today and the USDJPY set up for a short early in the U.S. session
The USDX continued to stall near recent highs and the sentiment was “risk off” today. Even the EUR and GBP were able to climb versus the USD. The USDJPY moved to its Asian session low and oscillated just above and below this level going into the U.S. session...
President Trump’s speech yesterday, indicated that the implementation of the U.S. – China trade agreement phase one signing “could be soon” or forthcoming tariffs against China would increase, as would tariffs for other countries that “mistreat the U.S.”
As the market digested President Trump’s speech yesterday and awaited today to see if Fed Chair Powell would add anything new, risk sentiment was cautious. After the USDJPY tried to move above its Asian session high, and failed, a short was taken risking 12...
Long the GBPUSD after the U.S. session got underway today
The GBPUSD moved lower in the first half of the U.K. session after Britain’s CPI and PPI economic releases missed expectations. With the USD weaker again today, a long was taken risking 15 pips for a potential 63 pips to our daily target at 1.3830. I wasn’t...
Shorting the USDJPY ahead of the FOMC minutes
A bearish session for the USD today and a short was taken in the USDJPY risking 20 pips for a potential 57 pips to our daily target at 113.03. The USDJPY had been a very quiet pair with a tight daily range all summer. In the third week of September, it began to...
Shorting the USDCAD as the DXY pulled back from yesterday’s high
Although the U.S. equity markets showed further signs of weakness to end the third quarter, the USD was unable to muster any strength today following four positive days in a row. Once the USDCAD broke its Asian session low early in the U.S. session, a short was...
Long the USDCAD as the DXY surges higher today
The USD was very strong today in a uniform move versus the majors. There were a number of economic news releases and the DXY continued its ascent. I continue to find trades in the active USDCAD and CAD crosses. A long was taken in the USDCAD today risking 23 pips...
Shorting the USDCAD in advance of the FOMC Statement
Today was an active day despite the pending FOMC statement. I thought trading might be slow today while the market awaited the FED outcome, but it was active and the Canadian dollar was very strong… as was oil. The overall sentiment of the market was “risk on” as...
Long the USDCAD as the DXY continued higher today
The USD strength continued today and an entry long was taken in the USDCAD early in the U.S. session overlap – risking 20 pips for a potential 54 pips to our daily target at 1.2723. Buyers began entering near the Asian session low as the U.S. session got underway....
Long the USDCAD as the DXY moves higher today
We have moved into the second half of September now and daily trading ranges continue to be much tighter than usual. September so far, looks a lot like August. The GBPUSD and the USDCAD continue to be my favourite two pairs to trade because they offer the best...