If I were a floor trader I would be keeping the portfolio intact with no dramatic adjustments, status quo with a slighter lean toward Dollar sell side through option spreads. See no reason to be overly aggressive in switching the overall Dollar buy side but would definitely be fitting in a few new short out of the money and holding overall until decay sets in. To this point it would take a bit to push a good manager to make wholesale changes I would think.
A look at the day ahead in U.S. and global markets from Mike Dolan
If TV debates decided elections, world markets seem remarkably calm about the prospect of a Donald Trump return to the White House as the first half of the trading year ends on Friday.
It may be too early to stake bets on November’s U.S. election outcome just yet, and there are many pressing issues on the table before then – not least a critical update on Friday on the PCE inflation gauge favored by the Federal Reserve and the first round of the French assembly election at the weekend.
EURUSD Daily
Supports at : 1.06850 & 1.06600
Resistances at : 1.07150 , 1.07250 , 1.07500 & 1.08300
I am not going to lie to you only cause I truly detest EUR – Seems as it had found the footing here.
Pattern suggests that we are about to break up in days to come – of course all depends on tonight’s Close !
EURUSDJPY DAILY CHART – 1.07 PATTERN
1.07 Pattern Extended to 6 days in a row, rewarding the range traders and penalizing the breakout players.
While trend is still down, the current consolidation around 1.07 suggests there will be a diredtional move once the pattern is broken (either 1.07 becomes support or resistance).
Key levels remain at
1.0666/1.0549/1.0600
1.0745/50/1.0761/1.0800/1.0852
USDJPY 1 HOUR CHART –Was it the BOJ?
As this chart shows, the retreat from yet another new high (161.28) needs to hold above 160.63 (suggests 160.50) as well to keep a bid.
Was it the BOJ covrtly capping the upside?
Whatever the case, the new high is now key resistance.
Note Amazing Trader (AT) Alerts sent aUSDJPY sell alert earlierearlier
Sell 161.036/stop 161.351/take profit 161.642
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