Hello traders
Yesterday's trading was most profitable, riding the high speed elevator up and down with long and short positions throughout the session.
The chart seems to favor an upturn in the USD.
Why? Maybe because the US10 Y T-note is still one of the most reliable sources of yield. The one risk that we should watch out for is a downgrade of the USA AA+ credit rating.
The DE10Y and JP10Y are also turning up.
My EUR/USD short was triggered a short while ago at the 12H low of 1.0975. This is only a few pips below the NY session high of 1.0982. I have a tight stop above the 0.786 Fib at 1.0992. IF this trade proves to be successful, we may see a decline to test the weekly close of 1.0833 to the weekly high of 1.0856.
On the 4h chart, the 7D MA has crossed the 10 and 20 D MA's.
However, stay vigilant. The SS Turbulence is sailing through a small patch of still waters until the next storm arrives.
The FOMC minutes, USA CPII, 10Y note auction and initial jobless claims are on the calendar this week. All these events are first tier and can significantly move the markets-again. That is of course, bar more jawboning and contradictory statements from Washington DC about tariffs.
Best of luck.
Yesterday's trading was most profitable, riding the high speed elevator up and down with long and short positions throughout the session.
The chart seems to favor an upturn in the USD.
Why? Maybe because the US10 Y T-note is still one of the most reliable sources of yield. The one risk that we should watch out for is a downgrade of the USA AA+ credit rating.
The DE10Y and JP10Y are also turning up.
My EUR/USD short was triggered a short while ago at the 12H low of 1.0975. This is only a few pips below the NY session high of 1.0982. I have a tight stop above the 0.786 Fib at 1.0992. IF this trade proves to be successful, we may see a decline to test the weekly close of 1.0833 to the weekly high of 1.0856.
On the 4h chart, the 7D MA has crossed the 10 and 20 D MA's.
However, stay vigilant. The SS Turbulence is sailing through a small patch of still waters until the next storm arrives.
The FOMC minutes, USA CPII, 10Y note auction and initial jobless claims are on the calendar this week. All these events are first tier and can significantly move the markets-again. That is of course, bar more jawboning and contradictory statements from Washington DC about tariffs.
Best of luck.
Trade closed manually
I took profit at 1.0895 and reversed to long. The reported agreement of a German coalition government gave the Euro a leg up. Price is now roughly neutral with up and down side barriers roughly 50 pips away.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.