Tuesday, October 19, 2010

Tuesday 19 October

The dollar has its heels dug in and I am cautious but think the dollar continues to rally today.
I am still holding my shorts from yesterday and looking to sell some sterling or CAD but I may have to wait.  The big news today is the Bank of Canada rate statement.  Up until recently the BoC had been indicating they would hike but the signalling of more QE in the US means that is very unlikely so I am expecting the BoC to punt and the CAD to weaken.

NZDUSD weekly
Looks like a possible double top, I like this short with a target of 0.72 initially but watching for support at 0.7380 area

GBPJPY  weekly
I want to see a break of  126.70 and then downside targets are 121.50 and 115

Open Trades:
Crude short 83.70 stop 84.10 target 81.00 / 77.20
Silver short 24.40 stop 24.60 target 23.30
AUDUSD short 0.9910 stop 0.9940  target 0.93
New trade:
GBPJPY short 129.10 stop 1.2950 target 127.70 / 1.21.50
Silver short closed 1/2 @3R 23.80 (+1.5R)
Silver short closed balance @target  23.30 (+2.75R)
Crude closed 1/2 @3R 82.50 (+1.5R)
Crude closed 1/4 @80.00 (+2.3R)
GBPJPY closed 1/2 @3R 127.90 (+1.5R)
GBPJPY closed balance @target 1.2770 (+1.75R)
AUDUSD closed 1/2 @3R 0.9820 (+1.5R)
AUDUSD closed 1/4 @6R 0.9730 (+1.5R)

Open positions:
Crude short 83.70 stop 84.10 - 1/4 position left
AUDUSD short 0.9910 stop 0.9940 - 1/4 position left

Today was a big day, biggest range day in 60 days in the dollar pairs.  Tomorrow is a POMO day, we will see if / how high we bounce.

1 comment:

  1. Heckuva job, Timmay.