Tuesday 20 April

Markets are still retracing Friday's drop, some less vigorously than others.  Spreads on Greek bond/bunds have blown out to all time highs and while it hasn't sent EUR tumbling yet but I expect eventually it will catch up with the EUR.
UK CPI numbers have given GBP a boost and sent EURGBP tanking.  I still think this has potential to break the long time wedge downwards.
It is Turnaround Tuesday which sometimes comes late to the markets.  I have levels I am waiting for to see if the market resumes the drops of Friday.
I am watching for 1.5430-40 in Cable, 1.3530-50 EURUSD, 1.00835 USDCAD, etc. and then I am looking to see if the dollar resumes its rally.
Bank of Canada rate statement is this morning.
I am expecting the indices to perhaps correct down this week but I am surprised that the S&P came this high and then did not quite touch the 618 retracement of the highs to lows.  Actually nothing the indices does surprises me but if froth got us this high then I am not ruling out one more run up to make new highs in the 1220-1230 area before a correction.  I have the same view of AUD, and would not be surprised to see another test of 94 and the chart is still very bullish.

I missed a good long entry on Gold this morning, C'est la vie.   I have appointments today so I am trading on my laptop.  Not ideal and normal service resumes tomorrow!


EURJPY short 125.40 stop 12575 PT 121 - 50fib retracement
CABLE short 1.5430 stop 1.5460 target 1.52 - off 161.8fib extension
BRENT CRUDE short 85.00 stop 85.40 target 82.00
*I am shorting Brent because I think it will be more affected than WTI by the volcano*
EURCHF short closed 1.4330 (+1.16R) - rumours of SNB on bid at 1.4320
USDCAD balance 25% stopped out BE
USDCAD long 1.00 stop 0.9985 - fade spike post RBC news
USDCAD stopped out (-1R)
EURUSD short 1.3485 stop 1.3525 target 1.3360 / 1.32 - addition
GBPUSD closed 50% @3R 1.5340 (+1.5R)
EURGBP short 0.8765 stop 0.8780 target 0.87 and below
Asian session:
AUDUSD short 93.10 stop 93.30 target 92.35 / 92.0 - countertrend off 78.6fib

Open trades:

EURUSD short 136.30 stop 1.3655 - 1/2
EURUSD short 1.3485 stop 1.3525
CRUDE short 85.98 stop 86.40 - 1/4

BRENT CRUDE short 85.00 stop 85.40
CABLE short 1.5430 stop 1.5460
EURJPY short 125.40 stop 12575
EURGBP short 0.8765 stop 0.8780
AUDUSD short 93.10 stop 93.30