Блог JonSnow

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The Most Hated Currency

US dollar solidified its status of the most hated currency in the world. What looked like dollar buying in the last few days turned out to be just a correction and yesterday the green back was damped across the board. The really interesting thing was that the data released yesterday suggest that we are going to see 4 rate increases this year from the FED, yet, that did not help US dollar in any way. The dollar short trend was just too strong.
As for my trades (all dollar long) I basically broke…
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EUR/USD Long Position

I bought EUR/USD today at 1.1733. While this is going to be a very eventful week the beginning of it might prove quite slow. The reason behind buying euro is a terrible sentiment towards US dollar with one scandal after another chasing the White House. Equity markets are falling world-wide and there is no chance on the horizon for the sentiment to improve any time soon. In such environment I don't see how dollar could strengthen and euro should benefit.
I also went long with AUD and CAD against…
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Next Week Trading Plan

Just reviewing charts and making the initial plan for next week trading, I can't help to notice that both AUD/USD and NZD/USD charts look like there is no more buyers at these high levels. And both pairs have reasons to fall much further as Australian dollar had a dubious employment data and new Zealand dollar was sold off because of very weak retail sales.
Considering the FOMC Minutes release coming this week my general plan is to go long with US dollar again. Most major pairs are expected to …
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Range Bound Trading Expected

The traders are slowly returning to their desks after end-of-year festive brakes but the Forex markets are still in the holyday mode. Not much action is expected with most pairs trading in a range bound fashion. The Asian session brought some dollar buying and both Euro and Yen were offered.
I decided to buy both Euro and AUD against US dollar as I expect both to keep appreciating until they achieve higher levels attractive enough to short them later in the week. My other ideas for this week is…
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RBA Rate Cut Priced In

So, it looks like the RBA rate cut was all priced in already and after a quick short squeeze Australian dollar has greatly appreciated.
I'm disappointed with myself that I decided to trade it as both of my AUD short positions hit SL and all my profits I made so far in May contest are gone. So, I'm back to the square one but hopefully with a valuable lesson that high risk events are very difficult to trade.
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