Bingo bango off we go. Euro smokes 1.3000 good and proper

No messing this time. Right through to 1.3017 1.3029 and USD/JPY craps out to 101.08.

USD/CHF is now off over 80 pips since the session start down to 0.9877.

European stocks are holding gains and staying clear of the mess.

Early US stock prices are pointing to a flat open.

US 10′s are back down from highs at 2.1574% to 2.1172%

DXY was last at 83.42

EUR/USD just pushing above the 200 dma at 1.3020.

eurusddaily 30 05 2013

 

Cable is trundling up to 1.5200 again but EUR/GBP is making it work hard for the gains.

EUR/GBP is stalling into offers at 0.8590 as it has done on several occasions.

eurgbph4 30 05 2013

 

Author: Ryan Littlestone

Ryan Littlestone has been working in financial markets for more than 20 years. Wide-eyed, he stepped out of Bank station in London to join LME founding member Rudolf Wolff where he worked his way to the main order desk and brokered customer orders to the LME floor and across virtually every global market. An opportunity to help set up and run a new LIFFE floor operation saw him catch the trading bug and it wasn’t long before the pull of the pits was too great to refuse. He became a ‘local’ and has been trading his own account for more than 11 years.

7 Comments

  1. USDx breaking down in my view. Either way, it’s been great for my EU long!

  2. thus Ryan Littlestone is a happy man once again :D

  3. Hi Ryan/Adam, can you tell me why you have a preference for short EUR/GBP if you still do.
    Time to sell high then buy low?

  4. Don’t know about Adam but I think shorting at 0.8600 is a good risk reward. I’m going short at 0.8595 but with a tight stop as I don’t like the EUR/USD strength.

  5. after reading the monkey trading post I have to bail on this trade because its not within my parameters for entering trades. i’ll take 5 pips ty.

  6. Mr. Littlestone,
    If I may ask, do you have a normal time frame for your trades? If you enter a short position at 0.8595 as you mentioned, how do you pick your exits?
    Thank you for your time. I also would like to thank all of the ForexLive staff. Y’all have taught me a lot.

  7. hy ryan,

    why do you don’t like the eurusd strength? I mean i also don’t like it cause I’m still short, but i think we will close above 1,30 this week.

    i’m really excited what the next week will bring in eurusd

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