The message coming from the FED remains 'a slower pace of rate cuts' (all bar one member). Japan's new president inserts a 'dovish team, all in all, I feel JPY strength is 'overdone'.
Once again it was a coin toss whether to long USD or AUD.
The risk to the trade is negative market sentiment, it is very early in the trading day and anything can happen.
Because it's early in the trading day, I've gone for a 1 5:1 risk reward. I will close the trade before end of day (if it's ongoing), to avoid weekend risk.
I have found it difficult to form a strong conviction in the direction of the currencies this week. I've not been able to commit to the negative sentiment, Due to the overall uncertainty I suspect there has been some profit taking across all assets. Hopefully next week will bring a little more clarity and cohesion.
Once again it was a coin toss whether to long USD or AUD.
The risk to the trade is negative market sentiment, it is very early in the trading day and anything can happen.
Because it's early in the trading day, I've gone for a 1 5:1 risk reward. I will close the trade before end of day (if it's ongoing), to avoid weekend risk.
I have found it difficult to form a strong conviction in the direction of the currencies this week. I've not been able to commit to the negative sentiment, Due to the overall uncertainty I suspect there has been some profit taking across all assets. Hopefully next week will bring a little more clarity and cohesion.
johnelfedforexblog.ghost.io
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Join the mailing list to learn fundamental trading.
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johnelfedforexblog.ghost.io
Join the mailing list to learn fundamental trading.
Join the mailing list to learn fundamental trading.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.