• Steady as she goes again into the Easter week-end

    It's all been quiet out there by and large as most markets prepare to shut down for the Easter break. Order boards are sketchy understandably and thin liquidity will mean some will hold better than others.

    GBPUSD has now fallen through 1.3000 to post lows of 1.2979 despite better UK retail sales data yesterday (another nice rally-sell opportunity) but held up so far by 1.2980 bids.EURGBP has also been tightly bound.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy amid the Brexit delays. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines. No change to this paragraph any time soon.

    EURUSD has fallen to test the 1.1225 support but also holding for the moment while USDJPY looks underpinned into 111.65 still but rally sellers equally poised around 112.00 as we've been seeing again.

    USDCHF remains underpinned helped by the EURUSD retreat and EURCHF continues to find dip support. with the SNB ever-watchful. AUDUSD remains tightly bound while USDCAD has failed around 1.3400 again but finding support into 1.3360.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    I wish you good trading and I hope my updates/tweets are helping. I'm heading 3 hours north now to football to cheer on the struggling Shrimpers then away for the long Easter week-end but might post something on Monday if able/anything of note.

    Have a good day and week-end out out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.28 BST

    GBPUSD 1.2998

    EURUSD 1.1243

    EURGBP 0.8648

    GBPEUR 1.1559

    GBPAUD 1.8156

    GBPCAD 1.7373

    GBPZAR 18.2734

    GBPHKD 10.0789

    USDJPY 111.91

    USDZAR 14.0575

    EURJPY 125.83

    GBPJPY 145.43

    AUDUSD 0.7155

    EURCHF 1.1391

    EURHKD 8.7196

    USDCAD 1.3370

    USDCHF 1.0131

    Read more...

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  • Risk sentiment turning sour again and the Euro retreats on softer data

    A mixed bag as we head into the Easter week-end break for many markets. Weaker Eurozone PMI data has seen the Euro retreat this morning with Yen buying also notable with EURJPY and GBPJPY helping USDJPY to cap once again. The Pound continues on the back foot as we wait on the Brexit bs to resume next week and with oil and equities generally lower too we've seen some risk-off sentiment return.

    GBPUSD has now fallen through 1.3020-30 to post lows of 1.3011 before rallying to 1.3032 on better UK retail sales data for March while EURGBP has fallen now on the Euro supply post-PMIs.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy and buy back in the dips amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines. No change to this paragraph any time soon.

    EURUSD has finally given up on 1.1300 and fallen to lows of 1.1243 post-PMIs but good buying interest down at 1.1225 and 1.1200. USDJPY looks underpinned into 111.65 but rally sellers still poised around 112.00 as we've been seeing again. USDCHF remains underpinned helped by the EURUSD retreat and EURCHF continues to find dip support. with the SNB ever-watchful.

    AUDUSD remains underpinned around 0.7150 but sellers around 0.7200 prevailing atm. Large options rolling off today at 0.7175. USDCAD has moved higher again helped by softer oil prices to weaken the Canadian $.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    I wish you good trading and I hope my updates/tweets are helping.Let's continue to be careful out there and don't get greedy. I will update tomorrow before I head away to Walsall for football amid the long Easter week-end and then hopefully post something on Monday

    Have a good day out out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.40 BST

    GBPUSD 1.3021

    EURUSD 1.1257

    EURGBP 0.8646

    GBPEUR 1.1564

    GBPAUD 1.8170

    GBPCAD 1.7401

    GBPZAR 18.3170

    GBPHKD 10.0952

    USDJPY 111.80

    USDZAR 14.0742

    EURJPY 125.82

    GBPJPY 145.52

    AUDUSD 0.7165

    EURCHF 1.1373

    EURHKD 8.7298

    USDCAD 1.3368

    USDCHF 1.0101

    Read more...

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  • Pound wobbles again. China data impresses.

    Another 24 hours that has seen little change of real note but the Pound has found a few sellers again on more Brexit concerns despite better UK jobs data while Chinese GDP and Industrial Production impressed, whether actually accurate or not.

    GBPUSD finally fell through 1.3050 to test the next line of bids/support at 1.3020-30 before holding and rallying back above 1.3060. EURGBP remains underpinned by the general GBP supply/EUR demand scenario.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines. No change to this paragraph any time soon. Data risk today at 09.30 with UK inflation data.

    EURUSD continues to trade tightly but underpinned still and has tested the key 1.1325-35 resistance area again. USDJPY also looks underpinned still but rally sellers still poised above 112.00 as we've been seeing again. USDCHF remains underpinned helped by some better risk sentiment and as EURUSD firms but ranging tightly still and EURCHF continues to find support now above 1.1350 with the SNB ever-watchful.

    AUDUSD remains underpinned overall and got a nice kick higher after the better Chinese data while

    USDCAD has retreated after that failure around 1.3400 again helped by firmer oil prices.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    Have a good day out out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.30 BST

    GBPUSD 1.3056

    EURUSD 1.1316

    EURGBP 0.8667

    GBPEUR 1.1537

    GBPAUD 1.8140

    GBPCAD 1.7393

    GBPZAR 18.2082

    GBPHKD 10.1254

    USDJPY 111.99

    USDZAR 13.9474

    EURJPY 126.69

    GBPJPY 146.18

    AUDUSD 0.7198

    EURCHF 1.1396

    EURHKD 8.7765

    USDCAD 1.3323

    USDCHF 1.0070

    Read more...

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  • More of the same in the ever fickle world of Forex

    I may have been away for a couple of days but it doesn't seem like I've missed too much as markets continue to make their mind up.We've seen a few moves slightly beyond recent realms in some pairs only to fade back so essentially range trading still.

    GBPUSD continues in a 1.3050-1.3120 range for the most part while EURGBP also remains tightly bound and still underpinned by the general GBP supply/EUR demand scenario.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy but I continue to respect the two-way business amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines. No change to this paragraph any time soon.

    EURUSD continues to trade tightly but underpinned still and has now tested the key 1.1325-35 resistance area while USDJPY also looks underpinned still but rally sellers remain poised above 112.00 as we've been seeing. USDCHF remains underpinned as EURUSD firms but ranging tightly still and EURCHF continues to find support now above 1.1300 with the SNB ever-watchful.

    AUDUSD remains range bound 0.7130-80 while USDCAD remains underpinned after yesterday's sharp spike from 1.3320 to 1.3390 but has failed around 1.3400 again.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    My week-end away involved getting back to the hallowed Hall but sadly the effort to be there wasn't reflected out on the pitch and the Shrimpers of Southend are now facing relegation reality. Sad times but we'll keep believing. I'm just not sure the players do.

    Have a good day/week out out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.40 BST

    GBPUSD 1.3081

    EURUSD 1.1310

    EURGBP 0.8646

    GBPEUR 1.1565

    GBPAUD 1.8300

    GBPCAD 1.7519

    GBPZAR 18.3726

    GBPHKD 10.1417

    USDJPY 111.88

    USDZAR 14.0380

    EURJPY 126.54

    GBPJPY 146.37

    AUDUSD 0.7148

    EURCHF 1.1350

    EURHKD 8.7693

    USDCAD 1.3395

    USDCHF 1.0035

    Read more...

    0 comments

  • A mixed bag still as another week closes

    We've seen a mix of notable moves (all relative these days) and range trading as another week in the ever fickle world of Forex comes to a close.

    GBPUSD continues tightly bound as today's Brexit date comes and goes. Now extended to 31 October Parliament will be on holiday next week after all so we'll expect a few sound bites but nothing of real note as the debacle rolls on.EURGBP also remains tightly bound and still underpinned by the GBP supply/EUR demand scenario.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy but I continue to respect the two-way business amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines.

    EURUSD continues to trade tightly but underpinned still helped by option expiry support, EURJPY M&A demand and Asian fix buying seeing a sharp rally to 1.1295 from 1.1260 before being capped y 1.1300 sell interest. USDJPY made steady gains amid that M&A Yen selling and preliminary US-Japan trade talk sound bites but rally sellers remain poised.USDCHF remains underpinned as EURUSD firms but ranging tightly and EURCHF still finds support around 1.1280 as the SNB remain ever-watchful.

    AUDUSD remains range bound amid RBA rate cut talk versus positive Chinese data while USDCAD also still making its mind up amid the USD and oil uncertainty and has failed into 1.3400 but remains supported at 1.3300.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    I am now heading away for my long week-end break as previously notified and my next update will be Tuesday. Please contact my rate providers directly should you need to trade.

    Tomorrow the mighty Shrimpers of Southend return to the hallowed Hall and my deliberately chosen week-end destination will allow me to make a 1hr 45min drive to be there and cheer the boys on in these much needed times. A must-win game so bring it on!

    Have a good day out/week-end out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 06.13 BST

    GBPUSD 1.3072

    EURUSD 1.1288

    EURGBP 0.8634

    GBPEUR 1.1579

    GBPAUD 1.8321

    GBPCAD 1.7463

    GBPZAR 18.3076

    GBPHKD 10.1347

    USDJPY 111.75

    USDZAR 14.0185

    EURJPY 126.14

    EURHKD 8.7527

    GBPJPY 146.07

    AUDUSD 0.7135

    EURCHF 1.1317

    USDCAD 1.3360

    USDCHF 1.0026

    Read more...

    0 comments

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