EURGBP short initial at 8690
One of the standing orders from the EURGBP short idea filled at 8690 early this morning. This is an initial position much like the last one, but at a better price. I have another order sitting at 8990 and beyond that, we’ll see. My target really depends on how many orders are filled. If price moves my way without making any more highs — a highly unlikely scenario — I will add at key points on the way down. Time is an issue here because of the interest rate differential. Let’s see what develops…
I still have not added to the NZDJPY trade. I prefer to wait until after 48 is cracked. Then I will see what develops. If commodity prices continue to fall, I don’t see the current picture changing even if demand picks up. And there is an outside chance the OCR will fall below 4.5, which will add a […]
Original post by The Lonely Trader