Friday, April 27, 2012

Spain Pain shortlived

S&P downgraded Spain to B last night and for some bizarre reason the market was surprised.  My long positions looked like crap this morning (AUD got within 2 pips of my stop & I got stopped out of some crude) but you can't keep a good market down and a sharp rally / sell off in USD underway.
Technically most markets either in congestion or have broken out to the 'risk-on' side.

James commented that USDJPY humped itself on the BoJ news last night.  It did but its also a messy retest of the broken bear flag for more downside.  4hr chart USDJPY

AUDUSD headed for 1.0435 pivot next.  A close above1.04513 confirms the bottom and projects a targets of 1.0595 & 1.0670

NZDUSD is setting up 4th inside day in a row (Krabel fans will be watching). Whilst I really like it back to the pivot at 7975 if the broader market is rallying 'risk on' then its just going to stay in this range

More charts for everything this weekend ...

USDJPY short 80.83 stop 81.33 target 78.36
AUDUSD closed half position 104.30 (+1.5R)  
CL long from 103.90 balance stopped out on spike (-0.5R)
WTI long from 103.05 closed balance 104.25 (+2R)
(-- need CL to close above 104.66 to stay bullish & so far not happening, when I exit it will)

Open positions:
EURUSD long 1.3152 stop 1.3132 target 1.33 - half position
EURAUD long 12672 stop 1.2638 target 1.3175 - half position

AUDUSD long 10370 stop 1.0350 target 106  - half position

A great day!


  1. Euro-zone crisis is slowly gripping all the nations of Europe.

  2. Yeah I think the markets will catch on but we seem to have a short squeeze on first