EUR crosses/EUR/USD/FXWW News/JPY crosses/Trade Ideas

EUR/USD: Anyone else smell a short market?

Maybe I’m reading too much into this, and I probably am as I don’t trade it very much, but the viciousness of yesterday’s short-covering rally tells me that this market was caught short and wrong. Certainly we’ve seen a pull-back since then towards 1.3000 but any market which jumps 400 pips in a straight line is telling us something!

If I had to have a position today, I’d be long, and in fact I’ve bought some near 1.3095 to turn my EUR/JPY shorts into USD/JPY shorts. I would not be at all surprised to see some big ranges in coming days.

  1. Hi Sean, Mr Bernanke will testify twice before Congress NEXT WEEK. Do you think markets will begin to anticipate another strong dollar selling round? When? On friday, or early next week?

  2. Hi sean. Last night I saw euraud rallied quite a bit . so I took a small long trade on eurusd. Although I made profit from it. I wonder if I traded correctly using cross pair analysis.

  3. Hi Sean, so do you still think it is advisable to short eurjpy at around 130.25/40 (if we get there today)? Are you still holding your shorts from yesterday and looking at around 127.9 t/p? Thanks

  4. Hi Sean, EURAUD is in a range of 1.38 – 1.44 for the last one month. So, I think it would be better to short above 1.435 targeting 1.39. Hope we will see 1.33 in EURUSD in coming week.

  5. Hi pete, sorry your comment didn’t show up for some reason. Yes I still like EUR/JPY short with stop above 13140ish ultimately targeting 125 and lower. I am still short at 12945ish on average but I did buy some EUR/USD this mrng as I think we see a down USD leg first (hope that makes sense?)

  6. Hi Phillip, per trade is prob the wrong question, per strategy I can stick with same strategy for months on end, trading the range edges and building an overall position. I think I was long EUR/AUD for instance for around 3 months, but the size of the trades and positions varied greatly during this time but always staying core long

  7. Hi sean how r u?
    Do u train people for tradding?
    Bc I want to b a professional
    Trader but I need some direction.
    So if u do so let ne know.
    Thanks

  8. Short term perhaps EUR/AUD, but the flows there are not big enough to cause big EUR/USD moves whereas EUR/JPY flows can be massive and they will move EUR/USD significantly if they start in 1 direction

  9. No problem Sean. Thanks. I am also looking to take a short closer to 130.2 level but market so far has been waning in momentum after yesterday’s clearout. Btw how about your views on eurgbp? Do you think it will go back to 0.86? As I see a 0.86-0.87 range for now. Thanks

  10. Sean,

    Can you share with us what’s your core strategy like?

    Don’t have to share your trade secret just a basic template if you don’t mind 🙂

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