Thursday, August 6, 2009

Thursday 06 August

I don't have much time to trade yesterday and today which is annoying as some things look pretty good out there and I am missing them.

Yesterday USDCAD & AUDUSD retested last weeks closing prices and bounced well off them so commodity dollars (including NZD)look strong vs USD. All eyes are on cable, Euro and CHF and the USD looks weak to me (yes I know I have been trying to buy USD for weeks) and even the rising wedge on the daily USDJPY looks bearish. GBP looks strongest of all and I missed another nice step down on EURGBP yesterday.
Gold looks set for a breakout, I like the daily and 4hr IB's and crude looks all set to re-test and maybe take out the previous swing high. Indices holding the levels at big round numbers for a few days is pretty clear they are still only going one way.

Anyway I will watch BOE and Euro announcements today but hopefully a full days trading tomorrow for NFP.

GBPCHF after BoE short 1.8009, stop 1.8049
GBPCHF closed 1.7929 (+2.0%)

I am done, back tomorrow.

Sydney trades close 17:00 GMT on Wednesdays. First week totals:
EURJPY +0.75% (including losing trade)
CADJPY +2.15%
GBPJPY +2.70%

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