Wednesday, September 9, 2009

Wednesday 09 September

It's 09/09/09 .... woo

Dollar Index:
I am not convinced we will have another weak dollar day tomorrow, hence no dollar positions except a short USDJPY.  The dollar index could very easily pullback up and retest the breakout point (hourly chart).  Stocks have not broken out the way dollar and gold has and treasuries remain supported.  Even if the USD does continue to fall off there are some key weekly support levels it has to get through first (shown on chart).

Also crude is now at the top of a bearish channel and needs to continue up from here to change my view.  I will close my long if we fall below $70.

GBPCHF short 1.7285, stop 1.7315 - addition
CRUDE long 71.10, stop 70.60 - addition
USDCAD short 1.07890, stop 1.0815 1hr bearish engulfing bar
CRUDE long (today) closed in full 72.10 (+2.0%)
USDCAD stopped out (-1.0%)
CRUDE long (Tues) closed 71.35 (+4.25%)

+5.25% for the day
Open positions:
GBPCHF short 1.7638, 1.7365 + 1.7285
USDJPY short 93.30

I am still bearish crude  - I will look for a short entry in the morning

1 comment:

  1. Woo indeed. I have been chatting to a psychic friend of mine who is convinced that cable will trade at a level today which includes the numbers '0' and '9'.
    Interesting stuff I'm sure you'll agree.