Forex Trades – Right Here – Right Now!

Some general observations:

The overnight surge in GBP looks a tad “suspect” to me, so I’ll be watching for opportunity to “get short GBP” in any of several pairs including GBP/USD as well GBP/JPY and even GBP/NZD, pretty much “right here – right now”.

The Australian Dollar has also “seen its day” with a couple of days of retracement, but with absolutely nothing but “empty space” down below. I expect AUD to turn, and continue its way lower……much lower. Short AUD/JPY reload more or less….”right here – right now”.

The U.S Dollar has pulled back “a bit” providing for further “long opportunities” if you are still in that camp. Keep in mind that USD has changed it’s course creating higher highs since early January so….regardless of near term squiggles – I’ll be looking for a stronger USD moving forward.

Long oil idea from weeks ago has certainly been a performer (as much as I scrapped the trade a couple of days in ) and good ol gold “appears” to have caught a bid.

Another day ( ho hum ) with SP 500 / risk – trading flat as a pancake.

Wish I had more to share.

7 Responses

  1. aaaxn January 22, 2014 / 11:50 am

    Hey Kong, CAD is being sold really hard. What your thoughts on that?

    • Forex Kong January 22, 2014 / 12:14 pm

      As suggested here many times…..CAD as well AUD and NZD all take hits as risk comes off.

      Safe havens are bought and “risk related” currencies are sold.

      CAD fits into the category of “risk related”.

      • aaaxn January 22, 2014 / 12:53 pm

        I get that. I was more interested why CAD is falling even relative to AUD and NZD.

        • Forex Kong January 22, 2014 / 2:04 pm

          Canada’s forward GDP projections have been revised lower.

          Go figure……again I sound like a broken record, as people continue to buy this Fed induced “stock pump” / recovery while the entire planet’s GDP is set to slow.

          Thank god I follow forex markets….

  2. David January 22, 2014 / 3:12 pm

    Hey Kong, sounds like we could have a real whopper in short GBP/CAD, I like days when one currency is on a tear higher and the other gets smashed; put that currency cross together and we should get a nice pullback.

    • Forex Kong January 22, 2014 / 3:18 pm

      As always David…….you’ve got this thing nailed down.


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