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 get any exhaustive spikes towards 172.00/20. I’m keeping my stop-loss well below the market but if we start trading regularly below 169.80 then I may re-assess

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 now and will re-assess if we break back above

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, the big break happened. More gains are likely now and I’d look to trade a $21/$25 range in coming weeks with a bullish

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 I’m not sure about is whether this moves mainly happens through a higher GBP/USD or a lower EUR/USD? Probably a bit of both. I’m expecting cable

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 overall strategy for

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 market really wants to buy risk trades and whilst I’d love to trade GBP/CHF instead, I’ve just had too many non-events with the Swissy in recent

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 to stay in dip-buying mode. It’s hard to see any clear value trades at current levels but cable support at 1.6210/25 has proven to be pretty

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 100 pips higher at 1.0910/20; With the RBA decision due early this afternoon, might we get a short-squeeze? I prefer to play the cross from

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 when the conditions are right. There is strong technical resistance around 1.0900, (a 38.2% Fibo, the 55-dma and a previous high), and I would expect resistance

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 looking very

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 it’s worthwhile buying AUD/JPY near 90.00 just to see if technical support holds. This level is a double-bottom neckline as well as a 61.8% retracement level.

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 not recommend shorting the GBP at the moment, the trend is too

This suggests that the market is somewhat oversold (but that bear trend remains in play); I would not recommend going long against this trend until a daily low forms at channel lows; Existing shorts can certainly consider booking some profits near current levels at

1.3500 in EUR/USD looks like it might be a key level, if that breaks then look for a sell-rally strategy in EUR pair of your choice; EUR/GBP is heading lower in a bear channel but will find profit takers near .8180; If EUR/JPY breaks below 140.40 again, then we should see a clean-out of longs

Yesterday evening, John in the chat-room posted a very nice little piece of information from Predicted Markets which said that resistance should kick in for USDCAD at 1.1015. “Since September 2013 there have been 25 times when – as was the case on Monday – USD/CAD has posted the session high 10 pips or less above

Medium-term trade idea from a week ago is starting to evolve; Trend-line support and a 61.8% retracement at 1.3510/15 (see chart); I’m staying bearish on some of the main EUR crosses with EUR/AUD back at long-term neutral levels, EUR/JPY looking heavily overbought and EUR/GBP sentiment decidedly bearish). I’m running small shorts here from last week

Weekend win in Japanese regional elections by opposition parties will worry Yen shorts; Overall positioning still running at extreme levels; The topping formation which we started watching last week is still looking very plausible; Support levels will be firm starting at 140.50 but a break back below 140.00 could be critical on a number of

One constant for me is the fact that EUR/GBP is headed lower; I’m continuing to trade the downward channel (see chart); Sell rallies towards .8400 looking for