Levels to watch in the FX market, Friday May 3rd
- Remember that China and Japan are closed again today so it should be quiet in Asia.
- AUD/USD bids at 1.0220/25 continue to holds the bears at bay (I expect these bids to cancel before NFP).
- EUR/USD has solid technical support near the overnight lows at 1.3035.
- USD/JPY barrier protection ahead of 97.00 continues to dominate this pair.
- EUR/CHF is testing support levels near 1.2200.
Hi Sean,
Larger sell stops from 1.3020 down to 1.3010 as I’ve heard, might be a good target for a s/t short position.
USD/JPY will also be interesting, we have now two large barriers, 97/100. Might be good for a few range trades unless NFP take one of them out today. 🙂
Thanks Milan. Hope your trading’s been going well??
Morning Sean, played the USD/JPY longs from 97,25 to 98,10 today with 10 lots. Quick cash (again!) to throw at my USD/CHF longs which also got today very close to break even. I must say thank you to the big panda for holding the 97 level twice for me! 🙂
Yes indeed Rui, I’m very grateful to him as well, as well as to the unnamed hedge fund trader who gave me the info; many thanks due there also.
I’m thinking breakeven in the Swissy might not be a bad result at all 🙂
Trading is good, thanks. I’m focusing on day trades mostly
Lucky you haven’t been trying to day-trade the Asian session, its been dead as a dodo here recently 🙁
Oh, I would never day-trade the Asian session, I need a bit more volatility than that. 🙂 But at least you can trade the London open, right? There have been some nice moves in i.e. GBP/USD in the last few London opens.
Absolutely, I’ve been working around the NY close then starting again around this time. The core of the Asian session has been a complete snooze fest
Perhaps it’ll get better once volatility in the JPY pairs picks up again.
Have a great weekend!