Comments on: EUR positioning at relatively neutral levels overall

By: Papillon

Papillon — Fri, 05 Jul 2013 11:00:32 +0000

In reply to Sean Lee. Just before you left your desk, thanks for this week and see you Monday ;-) . I am happy to sit on the sidelines with the NFP lottery ahead

By: Sean Lee

Sean Lee — Fri, 05 Jul 2013 09:12:47 +0000

I’m not tempted at moment Danny, I do still have small core long AUD/USD position so I’ll play the retracing Aussie via that angle

By: Danny

Danny — Fri, 05 Jul 2013 09:01:15 +0000

If this is highly possible, would you enter when it reaches 1.3940 or before.
what will your play be?

By: Sean Lee

Sean Lee — Fri, 05 Jul 2013 08:53:18 +0000

Certainly looks plausible Danny, and macros have been booking profits so they must think trend is mature

By: Danny

Danny — Fri, 05 Jul 2013 07:58:04 +0000

Hi Sean,
with AUD rather oversold and looking for a retracement while EUR is generally weaker against USD, would have a potential for EUR/AUD.Might be premature to state a double top but you never know.

By: Yue

Yue — Fri, 05 Jul 2013 07:42:09 +0000

OK, I’ll close 2/3 amount to see what happens……I always forget to calculate the S/L amount, only think of the one direction trade, which could lead to very embarrassed in one or two trade, hehe…… Thank you very much for your advice! Have a great weekend, Sean!

By: Sean Lee

Sean Lee — Fri, 05 Jul 2013 07:31:31 +0000

Hi Yue, I don’t like the sound of ‘heavy amount’, I don’t think these mkts deserve big positional risk. I’d play it tight looking for quick swing trades. I’m really not sure at moment about overall directions so I’m pretty flat apart from small core long AUD/USD.

By: Sean Lee

Sean Lee — Fri, 05 Jul 2013 07:29:31 +0000

Wise words Chngster, its also a good talent to be able to recognise choppy mkts; you can save yourself a fortune if you can. I’m hanging up my pencil for the week, it’s been expensive enough already, no point in throwing good after bad.

By: Yue

Yue — Fri, 05 Jul 2013 06:53:58 +0000

Hi, Sean, Could you please have a look on EURGBP? Yesterday I missed the long trade but shorted it average at 0.8602 with heavy amount, still hold it or partial close? The tortoise seems showing his teeth now, but no doubt medium term is bearish……Thank you!

By: Chngster

Chngster — Fri, 05 Jul 2013 06:53:35 +0000

Gday Sean
just dropping in a line, nothing major to add. Ever since mid-week I’ve also lost the connection with Mr Market’s mood, and it looks like I’m not alone. EURUSD’s continued resilience astounds me….I tried selling the crap out of it back in April, and look where we are now, still at the same level. I’ve played JPY this week for minor +%, but retreated to cash prior to the ECB event. So far, FXWW888’s shortcut to the Reuters comments is the only thing that makes sense to me so far, but timing & levels are crucial and I haven’t worked out the best time and place to express those ideas in this climate. Call it a gut feeling, but I think its going to be choppy over the next few weeks and a lot of people are gonna get hurt…just gotta make sure we’re not that camp…

By: Sean Lee

Sean Lee — Fri, 05 Jul 2013 06:14:06 +0000

No mate, got stopped out, didn’t even get chance to react as it fell so fast. I’ll sit back and watch for a few days, need to watch EUR/USD and EUR crosses very closely

By: Papillon

Papillon — Fri, 05 Jul 2013 05:44:39 +0000

Good evening Sean,

Are you still in cable ? Did you reduce ? From my side, I like the sell rallies trade idea on EUR/JPY but I haven’t any propositions for now.

By: James

James — Fri, 05 Jul 2013 03:35:51 +0000

Potential topping in EURAUD medium term chart has me targetting 1.3540 region. See chart http://supercyclebear.blogspot.com.au/2013/07/potential-head-and-shoulders-set-up-in.html