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.

  1. Hi Sean! Got out of my AUDJPY shorts at 9790 (lucky again), and shocked to find it trading back at 9940… Debating whether to go short this time (maybe failure at 9960 resistance?)

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