The commodity currencies remain vulnerable (deflation?) with #USDCAD taking out the psychological 1.10 line earlier today. We are expecting a dovish Bank of Canada statement Wednesday, but no policy changes. The COT report as of Tuesday a week ago shows the markets positioned heavily long USDCAD. The critical 20-day moving average is 1.0767.
It hard to catch a trade this deep into a move, but the trend remains solid. Any trading ideas on the USDCAD pair?
GVI Forex john 12:30:24 GMT - 01/21/2014
Sorry I cannot recall who suggested the long GBPJPY trade last Wednesday, but the trade has been working out well congratulations! I believe it was Syd sf.
Mtl JP 18:32:57 GMT - 01/17/2014
for reference the 2014 high yield ytd is 3.05% (on Jan 2)
that 3% barrier needs to break UP and heave higher - maybe on a shift in inflation or expectations
Mtl JP 18:22:05 GMT - 01/17/2014
Sf 15:17 it seems yen is subject to one of two whimsicals:
- BoJ direct intervention , be it jawbone or actual intervention
- relative yields.
Note that Lew's paper yields less again today, down to 2.83%
Mtl JP 18:04:05 GMT - 01/17/2014
1.35 obvious support or obvious target ?
Mtl JP 17:43:05 GMT - 01/17/2014
while below 100 day 1.3559 -> 200 day 1.3346
GVI Forex john 17:38:25 GMT - 01/17/2014
#TradeIdeas- Beware of thin markets EURUSD has broken through the the bottom of its recent trading range at 1.3550 (actually 1.3548). The important thing is that the break has been fairly decisive. The 1.3500 level is ow the next most obvious support level. There is no obvious reason for the break other than there MUST have been resting stops around 1.3550 and that it was a vulnerable price to attack.
GVI Forex john 15:35:26 GMT - 01/17/2014
From my fundamental perspective, long GBPJPY makes sense. I the long GBP side of the trade nicely hedges the USD risk. Its up to you to make the critical technicals work. We already are pretty deep into this uptrend. My only concern is that the JPY can have some pretty nasty corrections.
Syd Sf 15:17:09 GMT - 01/17/2014
John I think gbpyen is a buy
We had 3 closes around 171.30 then yesterday's 170.60
If it closes over 171.50 today think Tokyo will be buying aggressively mon/Tuesday. 173 1st 175 2nd.
Mtl JP 15:07:37 GMT - 01/17/2014
john imo the "Best Trade for Today" is unfortunate
technically gbp is still within this week's range
fundamentally IF you looked at gv's calendar, u d note Wednesday's
GB ILO Unemploy 7.40% 7.40%
GB Avg Earn 3myy n/a 0.90%
GB Claimant Count k Nov n/a -36.7
i.e. (un)employment. From there you could speculate about BoE's reaction - rate hike or no rate hike which should feed into gbp's priceaction
GVI Forex john 14:52:51 GMT - 01/17/2014
#Trading Ideas GBPUSD has held onto its gains since the retail Sales release several hours ago. The GBP rough 100bp jump came on the piece of data, even though questions have been raised about the data. What I have found remarkable is its stability since the data spike.
chengdu13:32:06 GMT - 01/17/2014
YES,I want your video.
GVI Forex Jay Meisler 12:26:27 GMT - 01/17/2014
Beware of complacent ranges!
Send me an EMAIL if you like a copy of my daily trading video update for today.
GVI Forex john 11:05:53 GMT - 01/17/2014
#Trade Ideas GBPUSD 1.6421 back in view. As the retail Sales data might not have been what we first thought. Keep a close eye on how the markets respond.
GVI Forex john 10:14:36 GMT - 01/17/2014
sja- do you have any trading parameters. (entry. stop, etc.) you might consider? tia
bali sja 10:02:33 GMT - 01/17/2014
john, i think a close today in the 1.65 region is very possible especially if usd weakens later
GVI Forex john 09:57:22 GMT - 01/17/2014
#trade Ideas GBPUSD now above the 1.6421 20-day avg. Last 1.6454. If it can hold above this critical region its tone will be positive.
Any thoughts on the GBPUSD?
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Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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