A quick look at the charts and not a great deal has changed. AB CD measured moves have mostly been met in all pairs with Eur/Usd reaching the 1.3645 and the Usd/Chf through the 1.0730 level. Stocks and commodities are still sliding as further concerns over the Eurozone economies emerge with Finland the latest country to be called out.
NFP is always a ridiculous day to trade given that the numbers are an absolute lotto, and after yesterdays chaos its going to be even harder today. Main plan of action will be to manage what we have. So far we have banked 1/2 profit on all trades and I will look to possibly close another 1/4 on an unfavourable NFP outcome. Technically, great damage has been done, so for the moment I will stay with the trend and allow the last 1/4 to run.
Overnight just to add to yesterdays fun we had our ol mates at the SNB finally show up after being antagonised when traders pushed the pair under 1.4600 triggering stops. Although I did not mention it here yesterday, I did leave a limit order to buy at 1.4575 ( which was the level of the first intervention in March of last yesr) with a 1.4525 stop. the pair jumped to as high as 1.4870 before falling back toward 1.4700. I will take 1/2 off at 1.4750 with the stop at 1.4620.
More a lil later as we get closer to the number
1 comment:
Yeah, buying eur chf there was a must spinner
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