Forex Market Insight Commentary 08 June 2018

by | Jun 8, 2018 | Blackstone Futures | 0 comments

Good morning traders happy Friday it’s the 8th of June 2018 crazy day.

I think from our perspective a couple things that we were expecting but we’re hoping for was the euro dollar to come off cable to come off and possibly a trade in that dollar yen and the Kiwi. I think for the most part most of it came off.

So yesterday we highlighted the fact that the big move two days ago on euro was on the back of the ECB announcing that they would in all likelihood look to exit the QE strategy.

I’m still not convinced that could happen if Italy follow through on the promises that go into the government and you get a contagion I think.

I’m not entirely certain if that can occur as his plan so I was looking for a bit of a reversal yesterday.

we got as high as 1839 to be honest cars I thought
that just outside 18 would have been the
high yesterday but we got that EMI
crossover at about 8:14 and today I got
some caught him in the same but I think
if we go back up to that 1840 1850 level
I would be tempted to look for a short
trade table very similar cable was one
that are preferred to trade out the euro
only because of what was happening Italy
but yesterday the big move here was on
the back of geopolitical fundamental
news for anyway so
yesterday the Brexit its debate reared its
ugly head again the the UK confirmed
that they would be exiting the custom
Union at the same time as what the exit
the EU union.

So they also indicated
that a date already set in the coming
week so that of course will create a
little volatility in the short to medium
term but if I look at my hourly chart as
you can see this big big one incident in
you could probably see it more than 15
minute chart Big Dance and a big swing
in their cars from my perspective very
much in the same part is while I am in
the year I’d be tempted to look for a
short anywhere at this 34 7 th level I
think that any child showing a basa my
preference would be to sell sell the
rallies material in the next couple
of weeks okay

Aussie dollar and kiwi are still very much
sure range but 7675 we did break this
resistence.

Looks like this resistance
may be somewhat because but do you think03:00
that this would be an interesting short
for me I think I had westerns but I
would be tempted to do short lon Kiwi
this was one that we tried it yesterday
we got that EMI shorter via crossover
for a short time strategy for me if I go
03:17
back up to around the 70 30 70 50 level
03:20
out life only am i cross level it’s very
03:22
short
03:22
donna cared interesting player for me
03:25
today
03:25
and probably one of my preferred
03:28
payers to try it for the day I can see
03:31
resistance here at 129 96 130 this is
03:34
something that I did
03:35
holla to allude to yesterday waited
03:38
patiently for that level as you can see
03:40
the last two or three weeks every time
03:42
we’ve got to this between 130 130 60 we
03:46
have
03:48
I’m some assistance I’ll be patient
03:49
there guys it is I think a little bit of
03:51
daughter coming Arts in Canada today so
03:53
this may have to be an opportune in
03:55
trade but it does not like there could
04:00
be a short sitting up here on the end
04:02
guys last one I said to be arranged but
04:04
one Tim I said would be the mage
04:07
resistance level yesterday around about
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110 or for one empty table we’ve got
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that EMI processor because this one is
04:15
very very difficult to take only because
04:19
it is so strongly correlated to to the
04:24
equity market very very difficult to
04:28
trade cars from my perspective I’m gonna
04:33
be looking for short trades in the
04:34
dollar cad and I would be interested in
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selling about the euro and the pound
04:39
rallies if they dip representatives
04:42
austere day otherwise it’s Friday to get
04:46
into the market on Monday already guys
04:50
well those Indians very good luck I hope
04:51
it helps have a good weekend guys

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