The US has treasury auctions this week and it is one to watch. The 10year yield is again back over 3% and this is weighing on USDJPY but should be higher ... Watch the 10yr auction today and the 30yr tomorrow for more direction. On the NYSE yesterday was the lowest volume of 2010 so far, so the summer doldrums are officially here.
EURGBP looks to be correcting down and has broken trendline support. I still like EURGBP long on a pullback (target 0.8750-0.89). I would look to buy at the 0.82-0.8240 area or a good entry would be the break of the descending trendline resistance from the March highs.
Will post charts for the crosses later today, there look to be some good trades setting up slowly.
I apologise I am not around much, I am not feeling too good this week.
CRUDE long 75.20 stop 74.70 PT 79.50 - addition
EURAUD short 1.4340 stop 1.4410 target 1.40 / 1.3540 ~ sold break of yesterdays low
EURAUD stopped out (-1R) nice squeeze in EUR
CRUDE closed 50% @3R 76.70 (+1.5R)
USDJPY long 88.10 stop 87.80 PT 89.70 then 91.00
Open Positions:
CRUDE LONG 72.30 stop 71.70 PT 75.00 - 1/4 position
USDJPY long 87.30 stop 86.90 PT 89.20 - 1/2 position
Update:
Breakouts in cable and EURUSD mean a re-test of the highs and possibly new highs ... beware summer chop.
Update:
Breakouts in cable and EURUSD mean a re-test of the highs and possibly new highs ... beware summer chop.
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ReplyDeleteCan you buy homeopathic remedies in Chile?
ReplyDeleteGet some Apis gel for your bite if you can.
Take Apis 30ch or Ledum 30ch, 5 little pellets under the tongue, 3 x a day without food and it will get rid of it in no time.
Ledum pellets and apis gel best combination and homeopathic remedies normally v cheap.
Hey Nic, hope all is good with you.
ReplyDeleteOnly thing doesn't look right to me is UJ..it's going down and this means RISK is still ON and major which could drag UJ to 80 unless intervention is done. Something is cooking not visible to herd.
ta
ams
chile? me uk.
ReplyDeletei'm mildly allergic to wasp stings/bites so just take antihistamine.
nice aud/oil moves.
Hi Ams
ReplyDeleteI am waiting for the 10yr auction to be over today. I am looking at buying some more UJ off that 88 level. I know its against the trend but it is due a bounce.
On the dollar index the USD just broke big trendline support. so we definately go to 82.71 this swing.
I agree it is out of synch. It is all about the dollar so yen crosses are not fun trades.
Sorry Richard, got confused with other Richard.
ReplyDeleteI am v allergic to stings, the Apis remedy really helps and no drowsiness.
88 big level USDJPY - see weekly chart and also 50% retrace of move off lows
ReplyDeleteUJ vid
ReplyDeletehttp://forex.fxdd.com/84573/forex-video/forex-quickusdjpy-breaks-lower-and-targets-8804-support
Thx Richard, watching now
ReplyDeleteyou need antibiotics for lymes?
ReplyDeleteI took them for 2 weeks last yr when I was bitten. Doctor announced I am "cured" but I am not. I cannot get a family doctor here, this country is absolutely 3rd world for healthcare, hence the homeopathic remedies.
ReplyDelete#1 reason I am moving back to UK. Never complain about the NHS until you have tried Canada and forget the dentists - you need a 2nd mortgage.
not worth a quick flight over to uk to get checked out? seems it can be a pretty nasty condition?
ReplyDeleteHey Nic,
ReplyDeleteGood timing on USDJPY, with 10Y yield at 3.10% I am not sure why it's still at 88.3...
I am hoping we get some lift when the auction is over in a bit Grinks
ReplyDeletehh is short 15% of his fund UJ :)
ReplyDeleteYeah I know Hugh Hendry is short, it's a counter-trend bounce, I won't fall in love with it.
ReplyDeleteMr Topstep:
ReplyDeletehttp://www.youtube.com/watch?v=pbMiXPXpw1s
Goldman sold the descending trendline bang on.
hi nic,
ReplyDeleteYup, me too. I am looking to long UJ and crosses. Look at the DX chart posted on FF. I think we are looking for a big bounce, not very far from where we are:
http://www.forexfactory.com/showpost.php?p=3870130&postcount=237692
ta
ams
Good chart Ams. I have been fiddling with that trendline this morning. I still think we go down to 82.71 so ... hmmm
ReplyDeleteIt's summer, earnings and option expiry. As I-Man reminded me last summer each earnings announcement was another knife in the bears.
Richard - if you see this your EURJPY is starting to look like a really nice countertrend long.
ReplyDeleteEURCHF is setting up countertrend wedge retracement breakout too. Long trade should make 1.3550 (50fib) and possibly 1.3660 (61.8fib)
ReplyDeleteI just went short on ES @ 1093.50
ReplyDeleteIt just hit the downtrend line on the daily SPX and 200d moving avg is 10 pts above that, so I am expecting some resistance at these levels.
have you seen how nice daily SPX is on standard MT4 heiken ashi [HK]?
ReplyDeletedaily EJ HK looks like a top out in range with 2 spinning tops.
UJ Daily HK looks like turning.
I actually learned to trade with Heiken Ashi candles. They certainly make life simple.
ReplyDeleteI prefer japanese candlesticks now but they do work
that's cause women can multitask.
ReplyDeletei'm still trying to work out why does the cat prefers to drink out of my glass of water when she has two bowls of fresh water of her own?
Don'tCrossMe this is shaping up like last July. Every earnings report that came out was like a knife in a bears heart.
ReplyDeleteThat trendline will be retested and we will see if it holds. At least we have the line in the sand.
Yeah that's true, a repeat of last year is possible, but I like the head-shoulder + the lower highs and lower lows on daily chart. I am hoping that resistance would hold. I have a hard stop @1150 but will readjust lower depending on how things progress in the next couple of days.
ReplyDeleteI think one big difference between now and last year is the quantitative easing + the $1T stimuli that was pumped into the economy back then.