• Managed Accounts
  • Trusted Brokers
  • Blog
  • Forex Forum

Announcement

Collapse
No announcement yet.

TradeAlerter Market Update

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • TradeAlerter Market Update

    Wednesday 30th of April 2014

    TradeAlerter Currency Sentiment & Fundamental Rankings™

    Europeans Bloc Strength Rankings : GBP > EURO > CHF

    Commodities Bloc Strength Rankings : CAD > AUD > NZD

    Safe Havens Strength Rankings : USD > JPY

    Market Situation

    We are sitting here 24 hours before the FOMC which is very likely to be more of the same in very easy talk combined with 10bn taper. Yellen is unlikely to mess up but the market is set up (EUR/USD mainly for break below 1.3800, USD/JPY above Y103.) for some USD strength if it wants to interpret any of the comments as moving the US rate hike timetable forward. BOJ is likely to have no surprises and NFP is likely to be just strong enough with topside chances. ECB should again comment on EUR/USD strength affecting the low Inflation but will likely take no action.

    Pathway Analysis

    EUR/USD 1.4000 and GBP/USD 1.7000 is one strong possibility going forward but i am equally interested in a EUR/USD 1.3700 and GBP/USD 1.6700 and USD/JPY 1.0500 move over the next few days of major market moving news. If we are above 1.3900 going into next week ECB i suggest we will have a very dovish Draghi given the recent inflation numbers.

    In any scenerio above i am looking to take advantage by long GBP/USD and long CAD/JPY.


    Gameplan

    GBP/USD near 1.6750

    CAD/JPY near Y93

    Best of Luck

    TradeAlerter
    Last edited by Tony Darvall; 04-30-2014, 12:15 AM.
    "You have to learn the rules of the game, and then you have to play better than anyone else."

    Albert Einstein

  • #2
    Monday 5th of May 2014

    TradeAlerter Currency Sentiment & Fundamental Rankings™

    Europeans Bloc Strength Rankings : CHF > EURO > GBP

    Commodities Bloc Strength Rankings : NZD > AUD > CAD

    Safe Havens Strength Rankings : JPY > USD

    Market Situation

    US NFP was a head scratcher the sharp USD selling we saw post rally Friday has extended into the Monday open. USD selling is on all fronts and due to big bond market moves in the US. Anytime you see odd moves it usually due to Bond market moves. "Internals of the Jobs report were poor and the US curve flattening from both ends suggested tapering and eventual tightening loom over the medium-term". That being Said we have Yellen Speaking on Wednesday she could tweak the markets perception and then we have Draghi on Thursday with the ECB where its very possible for more Jawbowning attempts on the EUR/USD.

    Pathway Analysis

    The EUR/USD 1.4000 and GBP/USD 1.700 and USD/JPY 101-100 Pathway looks the path with the least resistance this week. The ECB/Draghi may again attempt to talk down the EUR/USD but unless they actually do something then the market should buy these dips. The Stock markets are looking fragile and if this leads to more selling this week the Nikkei fall then the USD/JPY selling from a move to 101-100 will help the EUR/USD test 1.400 and a break above could cause all hell to break loose in what has been the quietest FX market i have seen in many years. EUR/CHF is a good way to play the Ukraine issues which are still festering.

    Gameplan

    Buy USD/JPY First move to Y101.50 for 20 pips, Buy First move 101 for 20 pips. Buy Heavy First attempt 100.

    Sell EUR/USD above 1.4000 pre ECB. Close after speech regardless of what happens.

    EUR/CHF buy any dips below 1.2150.


    Best of Luck

    TradeAlerter
    Last edited by Tony Darvall; 05-04-2014, 09:21 PM.
    "You have to learn the rules of the game, and then you have to play better than anyone else."

    Albert Einstein

    Comment


    • #3
      Originally posted by TradeAlerter View Post
      Monday 5th of May 2014

      TradeAlerter Currency Sentiment & Fundamental Rankings™

      Europeans Bloc Strength Rankings : CHF > EURO > GBP

      Commodities Bloc Strength Rankings : NZD > AUD > CAD

      Safe Havens Strength Rankings : JPY > USD

      Market Situation

      US NFP was a head scratcher the sharp USD selling we saw post rally Friday has extended into the Monday open. USD selling is on all fronts and due to big bond market moves in the US. Anytime you see odd moves it usually due to Bond market moves. "Internals of the Jobs report were poor and the US curve flattening from both ends suggested tapering and eventual tightening loom over the medium-term". That being Said we have Yellen Speaking on Wednesday she could tweak the markets perception and then we have Draghi on Thursday with the ECB where its very possible for more Jawbowning attempts on the EUR/USD.

      Pathway Analysis

      The EUR/USD 1.4000 and GBP/USD 1.700 and USD/JPY 101-100 Pathway looks the path with the least resistance this week. The ECB/Draghi may again attempt to talk down the EUR/USD but unless they actually do something then the market should buy these dips. The Stock markets are looking fragile and if this leads to more selling this week the Nikkei fall then the USD/JPY selling from a move to 101-100 will help the EUR/USD test 1.400 and a break above could cause all hell to break loose in what has been the quietest FX market i have seen in many years. EUR/CHF is a good way to play the Ukraine issues which are still festering.

      Gameplan

      Buy USD/JPY First move to Y101.50 for 20 pips, Buy First move 101 for 20 pips. Buy Heavy First attempt 100.

      Sell EUR/USD above 1.4000 pre ECB. Close after speech regardless of what happens.

      EUR/CHF buy any dips below 1.2150.


      Best of Luck

      TradeAlerter

      Thanks TA, really appreciate the insight. However I confess I am hoping you're wrong about EURUSD!
      Would you like free lifetime access to our forex trading room?

      Open an account at Blueberry Markets and save the $97/monthly fee.

      Click here to find out more.

      Comment


      • #4
        Originally posted by Nick View Post
        Thanks TA, really appreciate the insight. However I confess I am hoping you're wrong about EURUSD!
        I think there are a whole bunch of us that hope you are wrong about the EU. Especially a guy in Toronto! Regardless I have a lot of faith in that guy!

        Cheers,
        Rod

        Comment


        • #5
          Saturday 17th of May 2014

          TradeAlerter Currency Sentiment & Fundamental Rankings™

          Europeans Bloc Strength Rankings : GBP > EURO > CHF

          Commodities Bloc Strength Rankings : AUD > NZD > CAD

          Safe Havens Strength Rankings : JPY > USD

          Market Situation


          The big move last week obviously was the EUR/USD fall from 1.3850 to 1.3650 as the ECB was joined by the Bundesbank in talking down the Euro via Rate Cut and other unconventional loosening measures at June 5th's ECB meeting. Whilst we are still a few weeks away from this the market used the rhetoric to clean out the longs and only found support after the USD began to weaken Thursday. The US also engages in this currency war as does Japan but they are a little more stealth about it. The US try to keep yields on bond rates low and thus demand for USD low. The Japanese literally buy stocks and USD/JPY via semi official channels and help to guide markets to their desired goals ie Nikkei and USD/JPY higher. lets not forget to to mention the SNB who set a floor of the EUR/CHF at 1.2000 as directly intervening in the FX market.

          The perverse thing about the market right now is because volatility is near record lows minus a few shakes last week in EUR/USD and Stocks. We are seeing a return of the carry trade in such a low volatility environment with investors searching for yield in NZD and AUD and CAD and in that order. Now the RBNZ has been vocal in recent weeks about the strength of the NZD and the carry trade whilst the RBA has gone quiet on the AUD after successfully talking down the currency last year.

          All these central bank forces fighting each other are examined before we even begin to look at the current global issues like Ukraine or the China slowdown or the Stock/commodities markets in general. US and European stocks have both put up fresh all time highs and then sold off aggressively in the last week. We need to be very careful of a stock market correction which is on the cards here given talk in the markets for downside is as loud as i have seen in the past 5 years and we have not even started to fall. This will obviously affect the Carry Trade and the USD/JPY directly.

          This is the life of a Fundamental/Sentiment FX trader and sometimes like last week we get it terribly wrong. Technical traders will look at our trades and wonder what in the world was he looking at.

          Well my Fibonacci friend obviously not the charts.


          Pathway Analysis


          Looking for the EUR/USD to remain pivotal in the global currency game and more jawboning is expected on moves to 1.3800. What trades need to watch out for is jawbone fatigue where the same statements make less impact than before. Then the market can easily switch back to usual stop eating mode and stops above 1.3840 will not be safe. Likewise any longs above 1.3750 is extremely dangerous and require careful attention. On the downside we are looking at alot of support from 1.3650-1.3450 and it will take big news and a few weeks to grind through those levels. I would be happy to buy below 1.3600 on any fast moves next week.

          If stocks get volatile look to USD/JPY and GBP/JPY for opportunities. AUD/JPY and NZD/JPY will also be in play but are little harder to navigate lately. I am native buy side USD/JPY trader and can not see a move below Y100 very clearly at all here. I can see a 200-300 pips move lower in the EUR/JPY and GBP/JPY though if stock markets fall.

          EUR/AUD and GBP/AUD will be very volatile in such risk off market but we will look to buy GBP/AUD if any of the stock market selling is because of a China story.

          Once the selling is done or overdone then we look to buy USD/JPY at Y101 or below for the inevitiable Japanese Jawbowning support. This time it will come in the form of more talk about changing the Japanese Pension Fund allocations into stocks. If Nikkei breaks 13800 you can expect something that day.


          Gameplan

          Buy USD/JPY Y100 for 20-30 pips. Buy Heavy First attempt 100.

          Sell EUR/USD above 1.3800 but careful with stops.

          Buy EUR/USD below 1.3600 again careful with stops.

          Buy EUR/CHF any dips below 1.2150 (market rumours SNB will lift the 1.2000 floor to 1.2500)

          Buy GBP/AUD if stock markets start to fall, below 1.8000 hopefully but not neccessary.

          Sell GBP/JPY towards Y172 in anticipation of any stock market volatility.


          Best of Luck

          TradeAlerter
          Last edited by Tony Darvall; 05-17-2014, 01:35 AM.
          "You have to learn the rules of the game, and then you have to play better than anyone else."

          Albert Einstein

          Comment


          • #6
            Very interesting and useful, TA. Great work.

            Thanks for cutting your losers last week below 5% floating dd. It gives those of us following your system confidence as far as risk is concerned, although I know you have acknowledged that the EU shorts ran much further than they should have.

            Always very easy with hindsight, but I guess some of the comments about profit and loss ratio are valid. It doesn't make sense to run losses so much further than average wins, although I know Viper does it and seems always to get away with it - that being another story, of course...

            Best regards,

            Roger

            Comment


            • #7
              I will discuss it in depth one day. On the face of it is very bad practice to let trades run against you.

              But those that think i let them run cause i can not take a loss dont know me very well.

              Hi Roger,

              Great question lets me give some insight.

              I honestly thought at 1.3900 when I bought that we going 1.41+

              The next day it 1.3850 it was not great but i still back my judgement it would bounce as the jawbowning faded.

              What happened was a orchestrated jawbowning daily for a week from different ECB and EU officials.

              At 1.3750 i new it was in trouble but for from a traders point of view i was going to wait for a rally to 1.3800 to close. We got none.

              At 1.3650 i was now down 250 point in 4 days and thank god we had a 70 point rally to 1.3720 where i sold.

              You see no point did i see an optimal exit from these trades on the way to down to 1.3650 and only on the bounce did i close.

              I was only trying to save the pips and exit at a good level as i had grudgingly become EUR neutral to bearish last week.

              So recapping at 1.3900, 1.3850, 1.3750, 1.3650 i consciously choose to let trades run.

              I was not praying for a rally to 1.4000 i was just trying to minimize loss.

              If I was trying to trade out of this i would have hedged and not closed and then double up long at 1.3580ish but i dont want to put subs through that and since i was not sure of the EUR/USD longer term direction anymore i was not sure it would work out well for a few months.

              Hope this illustrates my thought process last week.

              You pay me not only to open trades but to close them.

              Best Regards

              Tradealerter
              "You have to learn the rules of the game, and then you have to play better than anyone else."

              Albert Einstein

              Comment


              • #8
                Great update TradeAlerter. It's really interesting to understand how you're interpreting the market.
                Would you like free lifetime access to our forex trading room?

                Open an account at Blueberry Markets and save the $97/monthly fee.

                Click here to find out more.

                Comment


                • #9
                  Thanks TA,

                  you did you good job, sometimes it goes not in our favor.... this is forex and you've tried to prevent us from bigger losses...
                  To choose my own personal risk setup i would like to know how many positions could be in the market at one time overall pairs at the same time?
                  And how many positions could be open on 1 pair at the same time?

                  Thanks in advance for your support,

                  Cheers,
                  Heinz

                  Comment


                  • #10
                    Tuesday 27th of May 2014

                    TradeAlerter Currency Sentiment & Fundamental Rankings™


                    Europeans Bloc Strength Rankings : GBP > EURO > CHF

                    Commodities Bloc Strength Rankings : CAD > AUD > NZD

                    Safe Havens Strength Rankings : USD > JPY

                    Market Situation

                    We have fresh all time highs in US and European stock markets and this is helping most sensitive currency like the NZD/AUD/CAD outperform. AUD had been threatening to fall into a fresh downtrend and was dragging the NZD with it on multiple news stories including China Slowdown and Budget issues. CAD is threatening fresh strength here with bulls targeting 1.0760 on the USD/CAD.

                    EUR/USD is enjoying stability but interest to sell rallies is keeping bounces capped right now. If we get some good news or if ECB hints at no action this June then stops above 1.3730 will come into focus.

                    Pathway Analysis

                    EUR/USD and GBP/USD downside with USD/JPY topside and ranging AUD/NZD/USD seem likely now. AUD/USD is likely to move above 0.9400 if the EUR/USD is going below 1.3500. GBP/USD is also unlikely to break 1.7000 if the EUR/USD downtrend continues. If Stocks remain strong then the clearest move here seems to be USD/JPY long. I will be remaining core long USD/JPY on dips while stocks remain elevated. BOJ/FOMC Divergent monetary policies is going to underpin this move throughout this year.

                    Gameplan

                    Buying USD/JPY 101.60 and Y101

                    Selling EUR/USD above 1.3740

                    Buying USD/CHF below 0.8900

                    Buying EUR/JPY near Y137

                    Buying AUD/JPY near Y93.50

                    Best of Luck

                    TradeAlerter
                    "You have to learn the rules of the game, and then you have to play better than anyone else."

                    Albert Einstein

                    Comment


                    • #11
                      Wednesday 4th of June 2014

                      TradeAlerter Currency Sentiment & Fundamental Rankings™


                      Europeans Bloc Strength Rankings : GBP > EURO > CHF

                      Commodities Bloc Strength Rankings : AUD > CAD > NZD

                      Safe Havens Strength Rankings : USD > JPY

                      Market Situation

                      Stocks are holding near all time highs, Nikkei is back above 15000. USD/JPY has helped EUR/JPY rally and helped EUR/USD stabilize above 1.3600 ahead of the ECB. NZD has been hit by lower Dairy prices and expectations next week (Thursday 12th June) the RBNZ will hold. The fact still remains that the NZD is the highest interest yielder in the majors. The 200 DMA is at 0.8360 but without a major negative story i believe we should hold this level and return to uptrend this month. In my opinion the 'Carry trade' is making a comeback and NZD will be king for some time. Eventually the game will change and stocks will fall and volatility return but until then (Mid 2015 my guess) the NZD and AUD should outperform against all the big money printers USD, JPY, EURO.


                      Pathway Analysis

                      The ECB... Well perhaps the biggest event of 2014, so much expectation on Draghi i am pretty sure he will disapoint. I would not be holding short EUR/USD into the event. I do expect that any sharp rally will be met with clarification though from ECB officials so sell post ECB rally above 1.3700 is my game plan.

                      USD/JPY is getting solid support as US Yields bounce and the talk of Japanese pension fund rule changes for stock investments supporting a surge in the Nikkei. This story has legs and combined with a stronger USD from EUR/USD selling we can expect Y103-Y105 in coming weeks.

                      AUD/USD is very tricky but like NZD/USD we should the 0.9170 200 Day Moving average tested soon. I would still rather buy dip on both then sell Rally on either.

                      GBP/USD and CAD/USD i would not trade atm till the consolidation period is over.

                      Gameplan

                      Buying USD/JPY 102.10

                      Selling EUR/USD above 1.3700

                      Buying NZD/USD 0.8380

                      Buying AUD/USD 0.9180

                      Best of Luck

                      TradeAlerter
                      "You have to learn the rules of the game, and then you have to play better than anyone else."

                      Albert Einstein

                      Comment


                      • #12
                        Thursday 21st of August 2014

                        TradeAlerter Currency Sentiment & Fundamental Rankings™

                        Europeans Bloc Strength Rankings : EUR > GBP > CHF

                        Commodities Bloc Strength Rankings : NZD > CAD > AUD

                        Safe Havens Strength Rankings : USD > JPY

                        Market Situation

                        Stocks have continued to surge higher overnight even with a somewhat hawkish FOMC minutes which has led to further USD Strength. USD/JPY has surged higher as this is the perfect combination of "Risk On/US Bond Yield Increase" Key Resistance at Y103.14 was broken and EUR/USD broke 1.3300 and we have seen very little profit taking on the move so far.

                        Pathway Analysis

                        The price action smacks of a trend change into the USD with most analysts/traders quickly changing direction and now selling EUR/GBP/AUD/NZD on rallies and buying dips on the CAD/CHF/JPY against the USD.
                        Personally i am skeptical of the USD rally and this is costing me in my trading accounts as i fight very aggressive moves. Rarely does fighting the market work and it is this sort of enviroment where the market flips that ones needs to override their personal belief and be as pragmatic as possible. One alternative is to sit on the sidelines until one is comfortable that have adjusted to the market.
                        Another option when the majors are not being kind to you is to play the crosses which are often safer territory and thats where i am looking for opportunities today. EUR/CHF and EUR/JPY and GBP/JPY. Also NZD selling looks a little overdone and looking to play NZD/CAD.

                        Gameplan

                        Buying NZD/CAD under 0.9200 Target 0.9250

                        Selling GBP/USD above 1.6620 as hedge

                        Buying EUR/CHF 1.2110 target 1.2130

                        Best of Luck

                        Trade Safe

                        TradeAlerter
                        "You have to learn the rules of the game, and then you have to play better than anyone else."

                        Albert Einstein

                        Comment


                        • #13
                          Friday 22nd of August 2014

                          TradeAlerter Currency Sentiment & Fundamental Rankings™

                          Europeans Bloc Strength Rankings : EUR > GBP > CHF

                          Commodities Bloc Strength Rankings : NZD > AUD > CAD

                          Safe Havens Strength Rankings : USD > JPY

                          Market Situation


                          Another deluge of strong US data and Stocks Globally extended gains for a 10th day yesterday. So far in Asian session Friday though we have seen some profit taking in Stocks and selling of the USD across the board. In particular the risk sensitive Commodity currencies are doing well with AUD and NZD both breaking resistance. At the time of writing EUR/USD and GBP/USD are still under 1.3300 and 1.6600 but they both may also rally on profit taking ahead of Jackson Hole speechs from FED's Yellen and the ECB's Draghi.

                          Pathway Analysis


                          A potentially extremely important day in the FX markets, in recent years the Jackson hole speechs have been used to change monetary policy directions. Today's speech from Yellen is on the exact subject that could cause a dramatic change in FED expectations. She will be speaking on Labour markets and this is the road the Bank of England has gone down to temper the markets expectations about imminent Interest rate rises.
                          Thus the USD will react aggressively lower if she wants to focus on US wages growth which like the UK are at historic lows in a economic recovery enviroment. The impact in theory would be lower USD and higher stocks but given the rally in stocks it possible that they react in a buy the rumour sell the fact tonight regardless of the Speech.

                          If Yellen is neutral or hawkish the markets will likely be looking to go long USD into a new trend and we should quickly as traders be looking at ways to trade this. I suspect USD/JPY and shorting EUR/USD will be the favourite. UK economy is still one of the strongest so GBP/USD despite its recent falls is not the best avenue here. AUD/CAD/NZD are much harder given the higher interest rates and the support that the crosses like AUD/JPY and EUR/AUD give the pair.
                          EUR/GBP downside is likely in many scenarios and is a favourite trade of mine that is currently back at good selling levels after a couple weeks of GBP underperformance. GBP/JPY and AUD/JPY are other developing trades here and i am looking for pullbacks to get long.

                          Obviously a major trade here if Yellen is Neutral is long USD/JPY and this could be good medium term for 200-300 pips towards Y107.

                          Gameplan

                          Selling EUR/GBP on rallies above 0.8000 stops above 0.8100 TP 0.7800

                          Buying GBP/JPY on dips towards Y171 for Y175

                          In Yellens is hawkish, Buying USD/JPY above Y104 for Y107

                          Buying EUR/CHF 1.2110 target 1.2130

                          Best of Luck

                          Trade Safe

                          TradeAlerter
                          Last edited by Tony Darvall; 08-25-2014, 08:31 AM.
                          "You have to learn the rules of the game, and then you have to play better than anyone else."

                          Albert Einstein

                          Comment


                          • #14
                            Monday 25th of August 2014

                            TradeAlerter Currency Sentiment & Fundamental Rankings™

                            Europeans Bloc Strength Rankings : GBP > CHF > EUR

                            Commodities Bloc Strength Rankings : AUD > CAD > NZD

                            Safe Havens Strength Rankings : USD > JPY

                            Market Situation


                            Jaskcon hole was a largely non event with Yellen being as neutral as possible and the bigger reaction to Draghi who seemed to open the door further for ECB QE. Draghi noted the ECB would address the longer term inflation expectation falling at next meeting and this could be the foundation stones for eventaul QE and would be bearish medium term for the EURO. That being said COT( Commitment of Traders) report over the weekend saw even further buildup of EURO shorts and this could slow down further losses until we have a shake out of the weak shorts.

                            Pathway Analysis

                            NZD opened lower across the board on little news and has let to some technical break lower on many pairs with AUD/NZD and NZD/USD both entering new territory. The longer term downtrend of NZD i feel is limited and we will see the Yield hunters catch and support the highest yielding currency in the majors shortly.
                            The USD rally looks to have legs and on the next reversal i will be looking to get long USD/JPY for 107 over coming months. EUR/USD and USD/CAD seem to be strong alternative candidates but GBP/USD and AUD/USD and NZD/USD seem to be the more dangerous and high swap paying route.
                            German IFO was just released at the writing of this update and showed further pullback as expected with the recent santions hurting the German Business confidence but the Ukraine/Russian standoff seems to be towards the end not the beginning here and Putin will be meeting Tuesday with Ukraine President and if a ceasefire is annouced we will see a dramatic move higher in German Stocks and this may lift the EUR/USD into a short covering rally.
                            I am front running potential good news from the meeting and looking at EUR/JPY toward Y138 then Y140 as the USD/JPY rally continues and conditionally on S&P break 2000 cleanly. We should put EUR/GBP selling to the sideline till the next rally in EUR/USD given these considerations.

                            Gameplan

                            Long EUR/JPY for Y138 stop below Y137

                            Buying USD/JPY Y104 for Y107

                            Buying EUR/CHF 1.2100 target 1.2130

                            Best of Luck
                            Trade Safe
                            TradeAlerter
                            "You have to learn the rules of the game, and then you have to play better than anyone else."

                            Albert Einstein

                            Comment


                            • #15
                              Tuesday 26th of August 2014

                              TradeAlerter Currency Sentiment & Fundamental Rankings™

                              Europeans Bloc Strength Rankings : GBP > CHF > EUR

                              Commodities Bloc Strength Rankings : AUD > CAD > NZD

                              Safe Havens Strength Rankings : USD > JPY

                              Market Situation


                              USD strength took a breather yesterday in spite of the relative Dovish Draghi comments and the further conviction that EUR/USD will go lower longer term. The rebound was broad with USD/JPY falling back below Y104 and GBP/USD pushing back towards 1.6600. This sort of price action i find the most dangerous days to trade, with the counter trend rallies there is always the chance of a much bigger reversal once the trailing stops start getting hit. The other big event in the market was the S&P hitting 2000 but this also reversed course later and is another warning sign as the USD/JPY and the US stocks are closely correlated.

                              Pathway Analysis

                              NZD/USD was under pressure from weak trade balance data and hit 0.8310 before reversing to 0.8350. It is probably best to be patient here and not get involved too early although i suspect 0.8200 will a good level to try and pick support. Of more interest to me is selling GBP/NZD near 2.000 and EUR/NZD near 1.600 and we may get the chance in coming sessions.

                              USD/JPY looks toppish and primed for a pullback along with a USD squeeze today so i am sitting on sideline till lower Y103 levels and more interested to by GBP/USD for a pop back above 1.6600 towards the 200DMA up near 1.6675.
                              There are two main events today

                              1) Putin and Poroshenko meet later and the market will be cautious for headlines but the risks are for progress and this could be the spark needed for a EUR/USD led USD short covering rally
                              2) Rumour mills are working overtime that todays Durable Goods orders will be gigantic with some banks suggesting at 15-20% m/m jump. This may cut a USD squeeze short so be careful with the annoucement and tactical long EUR/USD and GBP/USD today.

                              Gameplan

                              Long EUR/USD and GBP/USD for a pop in the next 24 hours above 1.3200 and 1.6600

                              Buying USD/JPY Y103.30 for Y104 stop 102.80

                              Best of Luck
                              Trade Safe
                              TradeAlerter
                              "You have to learn the rules of the game, and then you have to play better than anyone else."

                              Albert Einstein

                              Comment

                              Working...
                              X