Quiet morning, England world cup day, Wimbledon and then this afternoon FOMC!
Another winning day for the bears yesterday and the S&P back below the 200 daily SMA. Chinese banks apparently bought up the USD vs the Yuan again last night so no big change there. I wonder how much longer we are going to keep watching it. My view hasn't changed since Monday and I am still selling rallies and expect the down moves to continue for a bit longer. I will post a chart if I see anything interesting.
Sterling is well bid and GBPAUD is on the move this morning. It has bounced off the 61.8fib retracement and should go to the 38.2 fib next at around 1.7250 which is also a good SR level. I have taken a long entry but I might be a bit late for the train.
CRUDE is approaching the bottom of the rising channel. I will add more short looking for a break of the channel at 74.50 / 75.00
EURGBP long 82.70 stop 82.57 PT 85.00
EURGBP stopped out (-1R)
Cable balance stopped out (-0.5R)
CRUDE short addition closed 50% @3R 77.10 (+1.5R)
AUDJPY closed 50% @3R 78.55 (+1.5R) GBPAUD long 1.7050 stop 1.70 PT 1.7250 CRUDE original short closed 25% @6R 76.60 (+1.5R) CRUDE short 76.40 stop 70.80 PT 74.50 bearflag break CRUDE short today closed 50% @3R 75.20 (+1.5R) AUDJPY short closed 25% @6R 78.75 (+1.5R) AUDJPY addition closed 50% @3R 78.55 (+1.5R) USDCAD closed 25% @6R 1.0350 (+1.5R) CRUDE second short closed 25% @6R (+1.5R) GBPAUD closed 1.7085 (+0.7R) - Pre Fed Announcement CRUDE addition today closed 75.60 (+1R) - Pre Fed announcement AUDJPY addition closed balance 78.20 (+2R) - Pre Fed announcement.
AUDJPY short 80.55 stop 80.85 PT 76.80 / 75.60 - 1/4 position
CRUDE short 79.60 stop 80.10 PT 74.50 - 1/4 position
CRUDE short 78.60 stop 79.10 PT 74.50 - 1/4 position
USDCAD long 1.020 stop 1.0175 PT 1.0460 - 1/4 position
Evening update. Price spikes post FOMC have stalled at the 50fib retracement. I am still in sell rally mode so will be adding some shorts.