As I’ve just said in the comments that I’m finding it hard to see trade at the moment. It’s almost like trading the summer again. The market doesn’t want to take a risk on a direction and some big moves are starting to peter out.
I managed to take near on 100 pips on my USD/CAD long from last week but have virtually scratched my USD/CHF long at 0.9100 through boredom and a short at 1.3500 in EUR/USD that I put on last night.
I’m interested to suck up some dollars, but I feel that with the US debt risks, Bernanke’s persistent dovish reminders and uninspiring US data there may be better value in waiting.
My ideal scenario is that US debt talks turn ugly and we get a nice sell off to start longing into. I’m still liking USD/JPY down towards 95.00 but I may get interested from 97.00. I’ll be very interested in selling cable up at 1.62+.
GBP/USD weekly chart 26 09 2013
AUD /USD is in no-man’s land but is still slowly bleeding south and EUR/CHF is just arsing about as usual. I’m a bit top heavy at 1.23 but otherwise that’s still in the bottom draw. It’s likely to be a pension trade that I’ll check back on when I’m 60.
At least we have some decent data and events on the calendar for next week. The ECB is up on Wednesday alongside Bernanke speaking and we have NFP on Friday.
Are you finding any inspiration out there? If so send some my way
