Friday 09 October

I am pretty cross with myself today, I missed some good opportunities this week.  I got behind with my analysis and then behind through the week and behind looking at daily charts.  I am looking at some of them now and kicking myself.  Next week will be better.

The dollar index is interesting.  We breached key support at 76 yesterday and then pulled back above it.  How the weekly closes is important now. Below 76 and the dollar is going to find it tough going for a bit but a dollar rally today gives us another weekly hammer off this level.

I am looking at the daily double top in EURUSD and the hourly bearflag off a pivot.  I am not trading it because I would have liked to see it break with some momentum earlier and it is so closely correlated to the indices and every dip is bought that I will probably leave it for today rather than have my shorts eaten in the US session.  I will see. It (and USDCHF) do have some trendline resistance to break as well so I may wait for a break of that and take USDCHF instead.   I did expect more Euro negative statements from Mr Trichet yesterday but it turned into a big fat nothing.  There seems to be very little momentum in the markets this morning, maybe its just me.

GBPUSD short (Thurs) banked 50% @3xR 1.5970 (+1.5%)
EURGBP stopped out (-1.0%)
GBPJPY short 142.43 stop 1.4283 - addition, 1hr trendline break
CHFJPY short 86.40 stop 86.70, 1st target 85.50
EURNZD addition stopped out (-1.0%)
EURNZD (Mon) closed 1.9950 (+3.08%)
CRUDE (Thu) banked 50% @3xR 70.95 (+1.5%)
CHFJPY stopped out (-1.0%)
GBPCHF short 1.6437 stop 1.6473, 1hr bearflag break

+3.08%
Open Positions:
GBPUSD short 1.6399 (23Sep) & 1.6090 targets 1.58, 1.5530, 1.5250
GBPJPY short 148.45 (24 Sep) targets 141, 140.60, 139
USDJPY short 89.48
CRUDE short 72.00
GBPCHF short 1.6437