Looks like I’m not going to get on for that cable trade

My trade of the day from this morning is looking unlikely to materialise and I’m always increasingly unwilling to take a trade as the weekend beckons. Best I stick with my current positions (long EUR/CHF and USD/CHF) and try and reduce pre-weekend risk rather than increase it!

  1. That was a good idea and the one hour chart shows spinning top high at 5736.

    It seems it will hit the bottom of the wedge near 1.5670.

  2. Hi Sean, would selling GBP/NZD as carry trades make sense? The kiwi is very strong while sterling is relatively weak. I remember last year the EUR/AUD hit historical lows after historical lows. This year the GBP and NZD take on the previous roles of EUR and AUD, respectively. Just my thought…

  3. Certainly makes sense Lam-Son although I wouldn’t be chasing it lower at these levels; maybe wait for some decent rallies before considering such a trade? I find these pairs hard to trade, its fine for taking a long term position but not so easy to pick trading swings

    1. yes, not that easy on this pair. And we have to bite the bullet if we trade this pair as the spread is ridiculously high 🙁

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