Open trading account 
The week ended with the euro softening against the US dollar. The weekly close was below the 1.12 mark, more precisely at 1.1180 and the main target for next week will likely be the 1.1050, reinforced by the actual 20-day SMA.
The sterling pound is off the previous week against the US dollar. This week’s close was slightly above the 1.28 hurdle and since the exchange rate is piercing the lower Bollinger band, more weakness might be ahead. The UK general polls are tightening and the Tories are losing ground against the Labors, so does the exchange rate by loosening.
I have an open position with GBP/USD, I’ll try to change my take profit to 1.2860, as I’m forecasting more weakness in the week ahead.
The US 10-year treasury yield appears to be ranging between the 2.20% and the 2.30%. This enabled the US dollar/yen to pick up a clear direction. The US President is on trip and leaks regarding its recent imbroglio with Russia have been sympathetic this week. Signs of it are mirrored on equities, the S&P500 broke new records in the week ending today, May 27.
This has been a flat week trading for me. I thought that it could have offered a bit more volatility with EUR/USD rising above the 1.13 and possibly the EUR/JPY breaking the 126 level for the first time since April last year. That didn’t happen.
So, I closed most of my pending orders and the entry levels were a bit far from what the market delivered this week.
During the week I opened a short NZD/USD position with an entry level bolstered by the 55-day SMA. I closed it with profit.
That’s all for this week. I’ll have to monitor my GBP/USD open position and hopefully try to open a few more orders before the end of this month contest.
Carpe Diem.
