I really should have listened to my instinct yesterday when everything was screaming at me that the Yen crosses were set to turn lower. Call it post-BOJ blues or […]
GBP/JPY update: Feels like I might have missed the top
No matter what anyone says, trading does involve an element of luck. When things are really going your way, those ‘flyer’ take-profit orders get executed and then it’s easy […]
USD/CAD: Shorts edging into the money but going is slow
I’ve been short since Monday morning and USD/CAD is again testing last Friday’s lows at 1.0935. Goldman Sachs reckon that support should be very strong at 1.0880 and that […]
EUR/GBP and AUD/NZD in ‘recovery’ mode
These have been two of the more persistent bear trends in the crosses in recent months but both pairs are starting to show signs that a ‘bottom’ may be […]
GBP/JPY trade update
I’ve got a fixed take profit order at 172.15 on last week’s long position and with EUR/GBP possibly looking to form a base, I think it makes […]
EUR/GBP: Taking profit on medium-term shorts
- I’ve been short this pair for months but the fact that we’ve consistently stalled at a major technical support level near .8150 (61.8% retracement of .7750/.8810) must be taken […]
GBP/JPY trade update
I’m still long of this pair and feel very comfortable being long GBP across the board.
I’ve adjusted my short-term targets and will look to book profits if we […]
USD/CAD: Fresh shorts in play (the ultimate reverse indicator)
My track record in the CAD is abysmal but all signals are pointing lower and I’m trying a top-picking short position near 1.0990. I’ll keep it fairly tight for […]
Silver makes compelling move higher; looking to add to long position
One market which has made a compelling statement in my opinion is Silver. We had been watching the $20.50 level for months and finally, after a few false alarms, […]
Cable: Looking to play 1.64/1.68 broad range
As you are no doubt sick of hearing, I’ve been long and bullish GBP for some months now. I still think that EUR/GBP is headed to .75/.77 but what […]
GBP/JPY trade strategy updated
- Longs in play from yesterday at 168.50;
- Will book interim profits if we see sharp intraday spikes to 171.00;
- Strong support should develop now at 168.25/40 and buying dips is the […]
GBP/JPY: Starting to build a long position
I’m already running core long positions in GBP against the EUR and the USD, so perhaps its time to add the JPY as well. My sense is that the […]
Cable: Still like buy-dips play whilst 1.6220 holds
Obviously the GBP bull trend is getting reasonably mature but on a long-term view it remains reasonably cheap against a number of the other majors and so I’m happy […]
AUD/NZD: Prefer to play from long side today ahead of RBA
- Like I mentioned below, current moves in the FX market are being driven by positional liquidation;
- The market is short of AUD/NZD and there is no major technical resistance until […]
AUD/NZD: Reduce longs on rallies to 1.0900
Don’t get me wrong, I’m long and think that we go quite a bit higher in the longish-term, but the down trend has been strong and will fight back […]
GBP/CHF: Looking to buy near strong technical support at 1.4870
- Trend-line and a 61.8% retracement level converge near 1.4870 (see chart);
- If buying this dip, keep stops fairly tight as it is risk-off Friday and some stock-markets are […]
AUD/JPY: Testing water with small long near 90.35
Firstly, I’m not picking these moves particularly well at the moment and some of the cross moves in pairs like EUR/AUD have me quite baffled. Nevertheless, I still think […]
Hope you’re all clever enough to be long GBP/CAD
- Big mover overnight with classic scissors move, GBP going up and CAD going down;
- Remember this classic trade idea from Morgan Stanley;
- Cross is undoubtedly overstretched but I would […]
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