Tuesday, June 15, 2010

Tuesday 15 June

I still prefer dollar crosses to yen crosses as weak USDJPY is a drag.
EURCHF is banging its head on resistance at 1.40 and might make CHF  better buy than EUR so USDCHF short my favourite trade today if indices continue to rally.

Looks pretty gloomy with a third rejection at 1108 level yesterday on the Greek downgrade but break and successful retest of trend-line resisance now support suggests we go higher today to me.  1108 still the key level to break.  4hr chart

Stuck at the 50fib but a succesful retest of 1.2150 SR level suggests we correct higher today.  1.2330 is the level to break next.  4hr chart

CABLE ~ sideways
EURGBP bouncing and weaker numbers this morning are a drag on cable, up against resistance at 1.48.  I still like it higher but today may not be cables day.

USDCHF - daily chart
Potential support at 1.1250 but I like it to 1.09 / 1.0950

AUDUSD as per yesterday I still like this long.  SR at 87.00 but 89.00 a second target.

CABLE long stopped out (-1R)
USDCHF short 1.14 stop 1.1470 PT 1.1250 / 1.09
AUDUSD long 0.8580 stop 0.8555 PT 0.87
CRUDE long 75.80 stop 75.40 PT 79.50
AUDCHF short 0.978 stop 0.983 PT 0.955 / 0.9275
CRUDE closed 50% @77.00 (+1.5R)

I have the following positions open:
EURCAD long 1.2550 stop 1.2460 PT 1.3330


  1. Odd divergence today with yen crosses and equities. Yen strength suggests equities should be weaker. Same divergence in continental currencies vs commodity currencies.
    VIX is down -4.20% vs SPX up +0.75%
    A/D is 4:1
    I am scratching my head ...

  2. Quadruple witching week. Expect the unexpected.