Please note, that this article comes from my archive. Check the actual date in the header.
We observed an interesting fact yesterday during NY session. Safe havens like gold, yen and swissie started a sell-off not on Wall Street opening as we supposed, but in late trading hours. We’ve been holding our shorts of precision metals and longs of USDJPY, even added some small volume on a pullback. But big money stepped in later, just because big money like silence. In this case we talk about silence from US President on North Korea war peninsula.
One more interesting observation. USDCHF has been always a leading indicator for the greenback and it moved yesterday sharply. It’s not a big surprise for us in the scope of swissie weakness, as we predicted a come back to normal mode of safe havens and the bullish rally in worldwide equities. But this story could give a sign of further USD appreciation. What the market needs to continue buying USD is strong Retail Sales report today.
EUR depreciated slightly on that USD strength, but it’s been supported by crosses EURCHF and EURJPY. We took partial profits of longs on both crosses, waiting for a pullback to jump in. EURGBP is in a tight range, expecting major economic data from both Eurozone and UK later this week. We still hold our longs of EURUSD, but getting ready to react on two important events today: German GDP and US Retail Sales. We could even think to rollover and start shorting EURUSD, but this decision depends on data.
JPY.
Took partial profits of USDJPY longs. Buy dips strategy. Need strong US data to accelerate. We think that the market will give us a good pullback to add longs aggressively. Longs of GBPJPY have been closed totally due to uncertainty of GBPUSD pair. British Inflation report could cause new bullish momentum here.
GOLD and SILVER.
Same strategy. Took partial profits of shorts from Friday and Monday, leaving a room for maneuver in case of pullbacks. Selling spikes will remain our strategy this week as long as stock indices will continue bullish rally. We use one simple technical indicator, which shows us levels to pull the trigger. Bollinger Band. We sell Gold and Silver, once the prices get back to middle line from the bottom side of the range.
We preferred to stay out of USDCAD roller-coaster yesterday. But the sell-off in Oil prices cause an upside move of the pair. We’ll continue watching this asset.
Let the profit be with us!
Please note, that this article comes from my archive. Check the actual date in the header.
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