It’s good sometimes to be able to sit back and look at the market with more objective eyes rather than constantly poring over every pip. I’m running 2 cross positions still, a longer-term EUR/GBP short from .8535 and an AUD/CHF long from .8580 (which was looking a lot better before my jet-lagged sleep). I still think both of these trades are potentially good ones, although I’m much more convinced by the EUR/GBP trade (I took the AUD/CHF more on the say of others).
I also see absolutely no reason to discard my bearish USD stance and I still believe that cable is the best way of playing this view. Whether or not I get a chance to buy at 1.5750 remains to be seen but I’m happy to sit on the sidelines while I’m travelling.
I will report from the Forex Magnates conference on Monday and Tuesday, with updates on all the latest cool technology and funds management developments. Those who are planning on catching up on Tuesdya evening will receive an email with details over the weekend.