The day ahead in the FX market, Thursday November 29th

  • AUD/USD should be interesting as we near important resistance near 1.0510:
  • Sell orders reported above 1.0490 and heavier 1.0510/20, but large stops seen above 1.0525:
  • EUR/JPY should again provide volatility although most of the close-by stops seem to have been triggered now:
  • The economic calendar has Japanese retail trade, Australian new home sales and RBNZ business confidence:
  • USD/JPY expected to trade 81.70/82.20 range, though downside still looks more ‘magnetic’ with large stops below 81.35:
  • EUR/USD still consolidating after Greek-debt deal but I’m still firmly in buy-dip mode.

  1. Hi Sean

    I bought 2 lots around 2900 after it bounced back from 2880.
    I’m long 7 lots at 2941 for now.
    I’ll scale the exit from 2960 to 3000.
    I expect 3000/10 to be tested again by friday afternoon.

  2. Good luck Daniel, it rose by almost 50 pips during the twilight zone which is nearly always stop-loss driven so fair chance much of this gets unwound during Tokyo trade imho

  3. Good afternoon Sean,

    Interesting to see how you manage your position in EUR/JPY. From my side, Iā€™m still in buy-dip mode, i would like to buy at 1.2860.

  4. Just hope it moves Papillon, if it goes 60/70 pips one way or the other then I’ll jump and and start building that way. Desperate measures called for in these ridiculous markets šŸ™‚

  5. Two days ago, we have bought EUR/USD at 1.2990/91 and then i gave up at 1.2973. Did you do the same EUR/JPY strategy with this position ?

  6. Well I bought at 12990 EUR/USD and am still holding this position, although am still short cable and AUD/USD so its basically left me with cross positions. Just shows how unsure I am of where next move comes from but hopefully when it happens in whatever pair then I’ll be ready to jump in. Also bought v small EUR/JPY 10677 but thk entry level was wrong so now sold this mrng at 10620; once again just staying active until lights come on šŸ™‚

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