maglite55

maglite55 Updated 

AUDUSD coming up to major resistance. Dont see any major news till Yellen's testimony later to suggest chance of successful breakout. This will be a good short based on risk reward. To exercise risk management in execution

maglite55 Updated 

Shorting to previous low on rejection of trendline. USD strength still in place. Short entered@1.2504 TP 1.2448

maglite55 Updated 

Expecting a pullback on the 61.8 to consolidate further before a push up. Currently overbought and waiting for sellers to enter. Seems like the improved Trump antics over the weekend couple with weak GDP numbers would support a stronger USD. Willl probably have to wait till europe market opens for more decisive moves.

maglite55 Updated 

The run up based on promise of great tax reforms in the coming weeks by Trump rocketed the USD against all pairs. However the fast and furious rushup suggest a pullback once the euphoria subsides. Overall on this pair it is still rather sketchy as im not convinced that usd is out of the woods.

maglite55 Updated 

The uk economy continues to be strong with the brexit proceedings moving along. I see this region as a good zone to buy.

maglite55

Still on the short wagon as the last attempts to break above 112.60 has been unsuccessful. This is in part due to the perception of fed hike diminishing in the near term as well as Trump rhetoric. Do keep your eye on the 10yr us yields as it impacts the risk off trade.

maglite55

The fed decision to keep rates the same is capping Fed optimism. This along with recent Trump antics is adding to the fade of the usd strength. Waiting for more rhetoric to trigger the big shot below 112.50. In the meantime i see ranging trade with high of 113.67. Entries will be on the 113.37 to 113.67 zone. Using the 15min chart for entries on candle close....

maglite55

Still looking at risk off with the Trump rhetoric. Comments from the Trump camp has been sending the USD weaker. This could be in fact intentional judging from the comments made and events leading up. Nonetheless, it is still advisable to approach with caution as markets tend to get complacent pretty quickly.

maglite55

Am expecting some riskoff with trump supposed muslim ban over the weekend. Do note that there is alot of data coming out this week, possible day trade only. To monitor closely

maglite55

Still on Trump induced uncertainty. Bias stil on downside unless 115 taken off. Following the trend, Any retrace bias in still to short.

maglite55 Updated 

Expecting some degree for riskoff with trump 1st week in office. No real visibility of his policies and the trend over the last few weeks suggests a bias to the downside.