Position adjustments as result of I just don’t see lower rates anytime soon. It will be higher for longer especially in the short end.
– Out of silver and platinum longs from several weeks ago. Will re-enter towards bottom of the ranges.
– Out of short CHF cross exposures. I still think CHF over time will be the weakest link but think in the sort term position adjustments may offer better entry levels.
– New fractional long usd/chf and short eur/cad time frame weeks but not averse to seeing short term acceleration….
EURUSD 4 HOUR – 1.10 FAILURE?
The failure to reach 1.10 has put EURUSD on the defwnive with an offered bias today as long as it stays below 1.0945.
Key level is at 1.0900 with 1.0867 as the next target below it.
This has been a week of chop and false starts but it looks like the upside has lost its steam.
Hard to do anything on EURUSD – seems like a holiday…market waiting for data in 40 min Economic Calendar
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