AUD,NZD/Flows and Orders/Others/Trade Ideas/USD/JPY

I wish I knew what was going where!

  • I’m still sitting with a core long position in USD/CHF but I haven’t been able to get into the rhythm of the market at all and am getting close to pulling the pin on this one.
  • I’m also still long of EUR/AUD with an excellent average on the trade, so this is one trade I’m comfortable with.
  • I’ve been struggling to get into the swings on the Yen crosses, and although there is plenty of movement I’m having a lot of trouble in picking the turns.
  • The EUR is in pure stop-loss hunting mode and I also can’t pick this one. What I will say, is that the market is short and bearish of EUR/USD yet China was seen buying again near 1.2975 last week!
  • Even technicals are pretty much a waste of time in range-bound stop-hunting markets. They work the first time and then trigger stops through the level second time around.
  • AUD/USD broke through technical resistance at 1.0360 (on 2nd time of asking) and trying to pick a top in the NZD/USD is looking too risky yet again.

China and Europe closed today for Labour Day, and Japan is still in holiday mode, so I’m not expecting any inspiration from today’s markets.

  1. G’day Sean. Pretty evil spike in CHF again. And it’s not the first time in recent months that it outperforms everything on a risk on day. Hard to figure out if this market is actually trading or a squeeze machine. I think it began acting erratic after the BoJ easing announcement.

  2. Hi Sean. I share your pain on USD/CHF… Long with an average price of 0,9364. I will not close it. I think EUR/USD will be heading to 1,3250 and we will might see Swissy heading to 0,92 before heading back up later. Fingers crossed for ECB do something that will trash the EUR? 😉

  3. I guess you have summarized it quite well, this week is not for trading… Good time to have break and celebrate labor day by doing nothing. Cheers

  4. Thanks for a very objective assement of what is happening at the moment, Sean. …..I think we all share the similar feeling at the moment 🙁

  5. morning Sean,
    i remembered in one of your comment about usd/jpy double bottom which you mentioned is still quite far away at 96.70. if the nfp figure is bad, we might actually see it.

  6. Morning Sean, I have a feeling that USD/CHF will go back to 0.9350 or at least my system tells me so. I’m long USD/CAD, so any increase in USD/CHF will be beneficial for my trade as well.

    1. > That’s the fun of the game. It drags my lazy body up every morning and makes me turn on the monitors 🙂

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