I’m sticking with USD bullish view for now
I used the bounce in cable to get out of my long position, only incurring a 50 pip loss which is a lot better than looked likely yesterday afternoon. Now I’m just sitting on my long USD/CHF position and although I’m still bullish, I’m certainly not nearly as bullish as I was yesterday.
I’m also pretty disgusted with myself as I didn’t re-sell USD/JPY above 103.50 yesterday morning even though I’d been preaching that this was the no-brainer trade; obviously I’m one of the no-brainers!
AUD/USD halted its recent slide at .9600 again, and the bears will be a bit worried by the possibility of a double bottom. And what about AUD/JPY yesterday? Fell 250 pips and then rallied 200! That’s definitely one pair which doesn’t know where it wants to go.
It’s Friday so I can’t see myself getting too involved today, especially after the worry beads got such a work-over yesterday.