RichardEdwards

RichardEdwards

Have entered short at market. Rationale is the UK rolling out the vaccinations faster than Europe over the coming months. Should result in the UK economy recovering faster. If get a clean break below resistance then I will add to the position.

RichardEdwards

Have entered short at 1.6881 after reading a Baby Pips article. Have not done any research myself but like the idea of a supported NZD with risk on moves. The move is inline with the trend but risky given I haven't done much research on the EUR.

RichardEdwards

Entered a long position at 0.7228 on the basis of a weaker dollar and risk on momentum. Would like to have entered at 0.7160 but missed the trade. Idea only came to me from Baby Pips so entered a bit late but like the trade fundamentally. It also slightly hedges against my longer term AUD/NZD position. If the NZD does outperform the AUD on risk on moves then I...

RichardEdwards

Have entered long on this pair @ 1.3661 for a longer hold position based on a weaker dollar over 2021 with a lot of money being pumped into the economy and a stronger pound now Brexit is out of the way.

RichardEdwards Updated 

Have entered long after long term trend line held despite market starting the day risk off. My bias is still bullish markets just need a catalyst to push higher.

RichardEdwards Updated 

I have entered one long position at 1.1860 last night as the fundamentals align for a bullish Euro and a weak Dollar. The ECB have stated that Euro strength isn't as much of a concern and generally had a less dovish statement. Am aiming for 1.2000 again. Price has however since broke back below the support level where I took the trade so really need to see it...

RichardEdwards Updated 

Have entered long at 71.00 on news that New Zealand have reduced their lockdown restrictions from level 2 to level 1 except for in one state. This is coupled with a positive risk tone due to AstraZeneca resuming their phase 3 trials. This is primarily a day trade mostly supported by risk sentiment. If we cleanly break 71.00 then I will hold a bit longer with...

RichardEdwards Updated 

Have entered short at 135.50 with a target of 132.00 and a stop around 136.50. Markets seem to be leaning risk off lately with COVID cases increases and lack of stimulus boosting equities. The GBP is fundamentally weak given Brexit concerns and increased COVID cases.

RichardEdwards Updated 

Have shorted this pair today as the markets seem to be risk on supporting the Aussie dollar. The GBP seems to be weak so far this week due to Brexit uncertainty. Fundamentally I would be bearish on this pair albeit with a weak conviction as the pound seems to find strength when I don’t expect it.

RichardEdwards Updated 

Have entered short at market as the GBP continues to remain weak with Brexit uncertainty. The risk tone remains off which is supporting the JPY. I think this continue for the rest of the week. As usual I am nervous about trading the GBP as it can seem to find strength from nowhere.

RichardEdwards Updated 

Have taken a short position at market based on USD weakness. Really need a break below 1.3000 to see this position open up to the downside. Don’t have a clear bias for the CAD but favour risk on sentiment which would benefit the CAD in general being commodity linked.

RichardEdwards Updated 

Have entered long at market as I expect the AUD to remain supported today after a good jobs report from Australia and also further negative comments from the RBNZ including an economists stating they would like a weaker NZD. Markets have potential to be risk on and this normally also supports the Aussie more than the Kiwi. Will look to add to position on a pull...

RichardEdwards Updated 

Have entered short at market with a tight stop looking mainly at a good risk / reward at the 106 handle. My bias for the USD is bearish for the foreseeable future. The Yen I don’t really hold a bias and is more neutral depending on the risk tone. However, the Yen saw some strength come through it with PM Abe’s resignation. As this unfolds we may see some more...

RichardEdwards Updated 

Have entered two short positions at current level. Bias is for a weak NZD given the dovish rhetoric from the RBNZ this week. Currently hold a long AUD/NZD which will benefit from risk on so have hedged my position with the Yen to cover risk off flows.

RichardEdwards Updated 

Have entered long at market with the intention of adding to the position on a further retrace to 1.18. Initial target is 1.19 with second target at 1.2 where I would expect a bounce. Many investment banks have forecasted 1.18 - 1.20 by the end of 2020 but these forecasts are rumoured to have been pushed higher. Information obtained from Financial Source. Current...

RichardEdwards Updated 

I hold an upside bias for this pair given that the Euro is benefiting from its stimulus package still and dollar weakness. Markets like any opportunity for risk-on and even though today is tilting slightly risk-off with strength in the Yen the price has pulled back to a key support area. I have entered one position at market and will look to enter again on a...

RichardEdwards Updated 

Going short on this position at market. NZD monetary policy outlook remains bearish while the CAD is benefiting from stronger oil prices enhanced by the recent storm impact on oil production. CAD GDP is set for release today and is forecasted to grow marginally. Downside risk to this is the storm passing and no longer creating oil production problems....

RichardEdwards Updated 

Have entered long on this position as it has broken higher out of recent range. Re-tested and moved higher again. I think we are in a bull market which should keep the JPY week for the near term and although the USD is weak the inevitable is them agreeing on a stimulus bill and gaining some strength.