• Pound in a whirl on more Brexit blather

    Comments out yesterday from Merkel and others on the Brexit backstop deal had the Pound first jumping then falling but remaining range-bound as Johnson heads to Berlin today for talks with his German counterpart. We can expect more volatility with the algos ready to feed off any scraps these days. Overall the picture has changed little at this point.

    Elsewhere we've seen a bit of risk-on sentiment this morning amid some conciliatory comments from China on trade but the uncertainty continues.

    GBPUSD rallied in a rush to post 1.2183 after the Merkel comments but rally sellers were poised to take full advantage. The inevitable retreat has found a base since around 1.2125 helped by some GBPJPY risk-on demand.EURGBP fell to 0.9112 in a rush (GBPEUR up to 1.0975) but been back up to test offers at 0.9150 on the GBP general retreat with EURUSD also finding dip demand again.The usual month-end EURGBP demand in the pipeline soon too.

    GBPJPY held 128.50 but capped above 129.60 too so far.

    I remain GBP bearish overall and will continue to rally-sell as my preferred strategy amid all the uncertainty/indecision including Brexit/political fallout but happy to buy back in the dips as always.Rinse and repeat.No reason to change my view any time soon (if ever, lol). Keep your eye on those talks in Berlin.

    EURUSD remains tightly bound and has once again found support below 1.1070 but sellers will be poised around 1.1120-30 again.USDJPY has found a little dip demand on the better risk sentiment but still tightly bound between 106.20-70.USDCHF remains range bound and underpinned but tempered around 0.9800 again.The SNB always going to be vigilant.

    AUDUSD remains tightly bound amid all the cross play/Gold moves with sellers around 0.6800 but buyers building around 0.6750 still. USDCAD remains underpinned but rally sellers prevailing atm helped by some CADJPY demand.

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

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.45 BST

    GBPUSD 1.2137

    EURGBP 0.9145

    EURUSD 1.1102

    GBPEUR 1.0938

    GBPAUD 1.7900

    GBPCAD 1.6159

    GBPJPY 129.33

    GBPZAR 18.4926

    GBPHKD 9.4152

    USDJPY 106.51

    USDZAR 15.2312

    EURJPY 118.22

    EURCHF 1.0862

    EURHKD 8.6078

    AUDUSD 0.6783

    USDCAD 1.3306

    USDCHF 0.9785

    Read more...

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  • New week, same old story

    Fragile risk sentiment never far away and we've seen more of it this morning with Yen and CHF demand also capping the latest US Dollar rallies. All range trading though still and in these fickle markets we shouldn't get too carried away with any of it. Boris Johnson continues to help the GBP bears among us as Brexit becomes more and more of a mess.

    GBPUSD has found itself under pressure again this morning amid more Brexit bs (deja vu eh?) and fallen from 1.2140 in Asia to test 1.2080 again after failing above 1.2150 yesterday too. EURGBP has been up to 0.9168 (GBPEUR down to 1.0907) but still struggling to make further headway with EURUSD also below 1.1080 again. GBPJPY held around 129.50 and has dropped back below 128.80-00 helped by some USDJPY risk-off supply again.

    I remain GBP bearish overall and will continue to rally-sell as my preferred trading strategy amid all the uncertainty/indecision including Brexit/political fallout but happy to buy back in the dips as always.Rinse and repeat.No reason to change my view any time soon (if ever, lol).

    EURUSD has fallen through the 1.1130 and 1.1100 support again before stalling at the stronger 1.1080 area while USDJPY has retreated on the softer risk sentiment but still tightly bound between 106.30-80. USDCHF remains range bound and underpinned but tempered above 0.9800 again by EURCHF finding rally sellers once more amid the latest EURUSD supply and risk-off plays. The SNB is always going to be vigilant and has been intervening in the past weeks as I've been warning.

    AUDUSD remains tightly bound amid all the cross play/Gold moves with sellers around 0.6800 but buyers around 0.6750. USDCAD remains underpinned and above 1.3300 again helped this morning by some CADJPY selling to post fresh recent highs of 1.3332.

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

    Don't forget I offer 1-2-1 mentoring if there's areas of trading/executing your business in this latest volatility that you might need some further help with. Also a subscriber service where I send out my preferred strategies and order board levels.Contact me for more details.

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.50 BST

    GBPUSD 1.2090

    EURGBP 0.9156

    EURUSD 1.1073

    GBPEUR 1.0921

    GBPAUD 1.7838

    GBPCAD 1.6117

    GBPJPY 128.73

    GBPZAR 18.6330

    GBPHKD 9.3734

    USDJPY 106.42

    USDZAR 15.4185

    EURJPY 117.85

    EURCHF 1.0853

    EURHKD 8.5829

    AUDUSD 0.6781

    USDCAD 1.3324

    USDCHF 0.9798

    Read more...

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  • Another mixed bag to start the week

    Firstly apologies for late delivery but I seem to have returned to my desk from my cricket sojourn to find my screen display manager malfunctioning so only got 2 screens to work from at the moment.

    Lots of news out on Friday/over the weekend and most of it not too great for risk but markets seem to be shrugging it off for the moment. Conditions and sentiment remain fragile though as ever. Trump is back from his hols making a few comments and due to make more on Huwaei today.

    GBPUSD has found itself under pressure again amid more Brexit bs and helped by some by EURGBP demand this morning into 0.9100 as EURUSD also finds demand into 1.1080 gain.EURGBP has been up to 0.9165 from 0.9110 lows but holding for the moment. GBPJPY has broken up through 128.80-00 helped by some USDJPY dip demand again on a bit of better risk sentiment.

    I remain GBP bearish overall and will continue to rally-sell as my preferred strategy amid all the uncertainty/indecision including Brexit/political fallout but respecting the dip demand after decent recent falls.No reason to change my view any time soon.

    EURUSD has fallen through the 1.1130 and 1.1100 support again before stalling at the stronger 1.1080 area. while USDJPY has found dip demand again on some better risk sentiment strangely given all that's going on out there but also a little USD demand too. USDCHF remains range bound and underpinned but tempered by EURCHF finding rally sellers again amid the latest EURUSD supply and has failed about 0.9800 but with the SNB ever watchful and still seemingly providing dip support as I have said for a while.

    AUDUSD remains tightly bound with sellers above 0.6800 but buyers around 0.6760 holding again while USDCAD remains underpinned but still struggling to make headway above 1.3300-20 and remains range bound.

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

    Don't forget I offer 1-2-1 mentoring if there's areas of trading/executing your business in this latest volatility that you might need some further help with.

    What a good Second Test match at Lords between England and Australia despite the rain interruptions and a great last day to witness too.Is it too much to hope that Archer can yet make an impact on the series? I think not. England need to share the expectation load though and will welcome back Anderson. Broad was disappointing yesterday but Leach looked tidy. Ben Stokes just continues to impress in all areas.

    As for Southend well we get another chance to put things right tomorrow night but it's not looking good. Manager blaming the strikers while we leak another four sloppy goals in at the back. Strange, but we'll keep believing. Serious improvement needed soon though.

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

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 09.40 BST

    GBPUSD 1.2121

    EURGBP 0.9160

    EURUSD 1.1103

    GBPEUR 1.0915

    GBPAUD 1.7907

    GBPCAD 1.6082

    GBPJPY 129.16

    GBPZAR 18.5762

    GBPHKD 9.3982

    USDJPY 106.57

    USDZAR 15.3335

    EURJPY 118.34

    EURCHF 1.0862

    EURHKD 8.6103

    AUDUSD 0.6768

    USDCAD 1.3268

    USDCHF 0.9780

    Read more...

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  • Euro feels the heat again as another week closes

    The roller-coaster ride continues in tight ranges but it's the Euro's turn to get a bit of a reality check as rubbish data,dovish ECB and Italy prevail over any Yuan diversification.

    GBPUSD had another nice rally and I duly resold and bought back but now underpinned by EURGBP selling. EURGBP has tested 0.9150 amid the general EUR supply but holding for the moment. GBPJPY has tested 128.80 but capped by USDJPY supply at 106.30 again.

    I remain GBP bearish overall and will continue to rally-sell as my preferred strategy amid all the uncertainty/indecision including Brexit/political fallout but happy to buy back in the dips as always.No reason to change my view any time soon although we must be respectful, as ever of the fickle risk swings.

    EURUSD has fallen through the 1.1100 support before stalling at the stronger 1.1080 area.USDJPY has found dip demand again on some better risk sentiment but remains fragile imho.USDCHF remains range bound and underpinned but tempered by EURCHF finding rally sellers again amid the latest EURUSD supply but with the SNB ever watchful and perhaps still providing support.

    AUDUSD remains tightly bound with sellers above 0.6800 but buyers around 0.6750 holding so far as I warned yesterday.USDCAD remains underpinned but still struggling again around 1.3320 and remains range bound.

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

    Don't forget I offer 1-2-1 mentoring if there's areas of trading this latest volatility, or how to make best use of the order boards and expiries that you might need some further help with.

    Lords remains rain affected but England under the cosh sadly. The mighty Shrimpers will do battle at Lincoln tomorrow without me but hopefully can take some momentum from the midweek cup win.

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

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.18 BST

    GBPUSD 1.2124

    EURGBP 0.9154

    EURUSD 1.1098

    GBPEUR 1.0924

    GBPAUD 1.7876

    GBPCAD 1.6129

    GBPJPY 128.73

    GBPZAR 18.4082

    GBPHKD 8.6776

    USDJPY 106.18

    USDZAR 15.1935

    EURJPY 117.84

    EURCHF 1.0861

    EURHKD 7.9437

    AUDUSD 0.6782

    USDCAD 1.3307

    USDCHF 0.9787

    Read more...

    0 comments

  • Fickle Forex markets continue to keep traders guessing

    The roller-coaster ride continues in tight ranges as news and data combine to keep markets and traders/bots dancing on hot coals amid thin Summer liquidity conditions.

    GBPUSD failed around 1.2100 again but the retreat has held 1.2045-50 as per the order boards so far helped by EURGBP selling and some GBPJPY buying this morning with a flash spike in USDJPY.EURGBP fell below 0.9250 amid some general EUR suppoly but holding around 0.9220 still amid the uncertain tones for both Euro and Pound and risk volatility. GBPJPY has tested 129.00 but capped by USDJPY supply at 106.30 again.

    I remain GBP bearish overall and will continue to rally-sell as my preferred strategy amid all the uncertainty/indecision including Brexit/political fallout but happy to buy back in the dips as always.No reason to change my view any time soon although we must be respectful, as ever of the fickle risk swings.UK Retail Sales data at 08.30 the algo-feeding risk. Talk of a no-confidence vote in UK govt continues but without substance still.

    EURUSD has fallen through the 1.1150-60 support before stalling at the next tranche at 1.1130 while USDJPY duly fell back ( I did say yesterday that I thought the sharp tariff news-led spike was overdone) and has been down to 105.72 before another rally this morning which rally sellers like me welcomed.

    USDCHF remains range bound tempered by EURCHF finding rally sellers again amid the latest EURUSD supply but with the SNB ever watchful and perhaps providing support atm.

    AUDUSD remains tightly bound but on the back foot with sellers above 0.6800 but buyers around 0.6750 holding so far. USDCAD has staged another decent rally but failed again around 1.3320 ( I warned of larger interest there yesterday) and remains range bound.

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

    Don't forget I offer 1-2-1 mentoring if there's areas of trading this latest volatility, or how to make best use of the order boards and expiries that you might need some further help with.

    I shall be at Lords again hoping for some cricket after yesterday's wash-out and for the remainder of the week to watch the England vs Australia Test match but will be getting my updates to you each day before I leave.

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.20 BST

    GBPUSD 1.2073

    EURGBP 0.9229

    EURUSD 1.1145

    GBPEUR 1.0832

    GBPAUD 1.7804

    GBPCAD 1.6055

    GBPJPY 128.24

    GBPZAR 18.4517

    GBPHKD 9.3610

    USDJPY 106.20

    USDZAR 15.2804

    EURJPY 118.39

    EURCHF 1.0862

    EURHKD 8.6420

    AUDUSD 0.6782

    USDCAD 1.3297

    USDCHF 0.9742

    Read more...

    0 comments

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