Long USDCHF

We are long USDCHF here at 1.0270 because we couldn’t get filled lower despite our charts going lower. Regardless it seems like a solid position and we’ll hold for a day or near close of Friday; tomorrow.

Catching falling daggers is not good for your health

I know I know. Catching falling daggers is not good, but look at what we’re forming down here on S&P. It looks like we’re forming a bottom. If we can hold today’s low and move above 50% of yesterday the trend is dead and we should be looking to buy until we get near 1330. Then reassess. This might be the low of the year right here. If this is not the low of the year I would be looking for it in the next few weeks.

Forex trade calls AUDUSD 5min TL short

Forex trade calls.

Hit AUDUSD short off the little TL.

Forex trade calls EURUSD

We want to see another small push up then a break down through the little TL for a sell confirmation.  Crude at highs is messing with prices and causing USD weakness.

Forex Trade Calls. Forex Capital Management Calls.

Forex Trade Calls.  Capital Management Calls.

We are in a wild market.  Carry currency pairs are disconnected from S&P which means global risk management systems are drawing down which means liquidity is scarce which lends to the downward spiral of volatility until something breaks the chain ie. a large news event that straightens the direction of the market and gets everyone on the same page.

Crude has been the driver of most of the disconnect from what I can see.  Global risk systems play crude along with currencies as a hedge so when there are disconnects you can imagine large funds are drawing down as their risk models are blown apart.  As they draw down they lose credit and so the downward volatility continues.  So to restate the concept we are in a muddy time right now which I predict will be resolved during Housing Starts data released from the USA in a few hours.  It’s kinda like the electric shock used to restart a fibrillated heart.

Forex Trade Calls London 11:30am.

www.midwesterncapital.com capital management

forex trade calls hourly breakdown

FOREX trade calls startup hourly breakdown is very bearish for the day.  A laundry list of news will keep traders guessing every hour today into the NY session.  Fair prices after this meteoric rise are near the 50% retracement from Monday’s low to Wednesday’s high.

Forex trade calls USDJPY trendline

Forex trade calls USDJPY trendline system.

USDJPY is overextended here and is unstable.  We’ll take a close below the trendline when it gives it to us.  We have US CPI news today.  No trading 30 minutes before news.

 

Update we did not take USDJPY short because UK unemployment was being released as the USDJPY touched trendline resistance.