Obviously I’m bearish and with a technical top in place near .8495 I don’t see any reason to be panicking into profits. I’m guessing that there will be stops below .8425 and if we break below there then we should see .8375 pretty

Nobody wants to trade ahead of tomorrow’s deadline and I’m certainly not blaming them. EUR/GBP: Technicals favour further losses imho and we can expect some volatility post-UK jobs data in 40 minutes; AUD/JPY is threatening to form a double-top at 94.10, worth watching for sure; AUD/USD option barriers at .9550 and .9600 (bigger); Real money

This pair is less likely to be affected by any debt-deal silliness so we can start paying attention to the technical picture. The 5-wave down-move from .8770  to .8330 has retraced by 38.2% to .8500 and has now put in a daily top at this level (see chart). Selling any intraday rallies towards this level

Certainly not the first time I’ve been stopped out near the top and probably won’t be the last. My entry levels were sloppy and I paid the price for lack of conviction. Overall I still like the Yen crosses lower, as I think the current ‘risk-on’ stance in the market is reckless. My preferred pair

There have been plenty of minor moves on the crosses but the big USD pairs remain relatively steady, waiting for the debt-deal announcement. Cable is interesting, support at 1.5915 is starting to harden appreciably (see

Lack of progress in Washington will be bearish for USD; Chinese data will be bearish for risk; Technical picture is very undecided hinting at range trading outcome but there is a chance of an interim top forming near 98.60 (see chart). I prefer to trade this pair from the short side today but keep stops

Sentiment is quite bullish on the Yen crosses and my attempt at going short yesterday near 132.10 was a bit of a disaster. I averaged into the trade at the 61.8% retracement level near 133.45 and am now hoping to escape with an unbloodied nose near 132.75. I don’t have a strong view here, simply

I was in sell-rally mode this morning in EUR/JPY and am dipping my toes in the water with a small short play at 132.10 (see chart). The interbank guys in the chat-room are reporting very heavy turnover 97.70/75 in USD/JPY on the electronic broking system ($500 mio+ has already changed

Horizontal support line at .8265 has been breached and looks like stops triggered below (see chart). Selling rallies for test of sub-.8200 makes sense to

AUD/USD short-term chart looks moderately bullish although its not at attractive levels for buying (see chart); If bullish, prefer to wait and see if initial technical support levels hold near .9400/10 or preferably wait for stronger levels near .9335/50; Risk-reward would seem to favour the bears in short-term, with recent highs above .9500 still capping;

Apologies to those who I’ve confused between my postings here and in the chat-room; I will try and ensure that this doesn’t happen again. I remain very bearish on the USD and my pair of choice for trading this view is still the cable. I was lucky enough to bail out of my medium-term longs

Once again it’s been quiet during the Asian session and the only announcement of note has been that Janet Yellen will likely be announced as the new Fed Chairperson sometime later today. The USD is slightly lower across the board but this is more due to higher Yen crosses than any specific USD sentiment. I’m

USD/JPY broke below the 200-DMA at 96.68 but failed to trigger stops below 96.50; Semi-official names remain the noted buyers on dips; JPY crosses are higher across the board after Asian session; I think USD/JPY will struggle to break above 97.20/30 and any further gains in Yen crosses will come through the components; AUD/NZD continues

USD sentiment remains weak amid on-going US budget impasse; AUD has started to recover strongly on the crosses; This recovery has happened despite supposed ‘risk-off’ trading conditions; Technically, AUD/USD dipped and bounced off a 38.2% retracement level, usually a sign of a strong trend; I favour the buy-dips strategy in AUD/USD until something happens to

Depending on which charting system you are using, the 200-day SMA comes in somewhere between 96.60/75. We also have the previously broken trend-line which many are now watching for support (see chart) and I’d expect many macro longs to start exiting below 96.50. The US budget situation is not helping either USD-longs or risk-longs and

The vertical up-trend has finally started to retrace after the market got itself bullish at the wrong levels above 1.6200. Some of the crosses like GBP/AUD and EUR/GBP still look to have some room to run so there is no rush in buying this dip in the cable imho. I’m still very bearish on the

Despite getting stopped out on my first attempt at building a long position, this trade has treated me well. I sold out of 1/2 my position at 1.5900 and my sell order on the balance was triggered a little earlier near 1.6250. I still maintain that the best (and safest) way to maker money trading

The trend has been very solid over the last few months with the market happy to buy the GBP and the NZD, and chopping and changing between the other major currencies. The EUR, CHF, JPY, AUD and USD have all had phases of weakness and of strength but as yet we haven’t seen one race