Hey folks,
Just a quick text signal tonight as I find myself without enough time to put together a full video signal. So far I see no major reasons to shift the overall short focus, so I recommend holding short EU, GU, Stocks and Gold if in on a position trade and/or looking to short on bounces for medium to long term trades. With a lot of focus this week on the very large US Treasury offerings, one might think bonds will sell off, yields will rise, and the USD will be weak; however, everyone has seen this coming and priced it in, so I think it's far more likely the opposite will happen. Because of all this psychology, we could see a bit of continued bounce on Monday before the short side takes over again. Friday's CAD Retail Sales nearly hit our buy trigger level but performed nicely if you were patient churning steadily upwards about 100 pips over the course of 75 minutes. Had you gotten out after 45 minutes, you were still 45 pips above prerelease. This was more of a case of being in the right place at the right time as the late surge came more on the back of USD strength than CAD weakness. For Monday 6-22 there's one trade worth watching:
0400 German IFO Business Climate (about 85.0 expected) - This indicator has been giving some decent signals lately and should be good for about 40 pips in the first 15 minutes, and could see more follow-through if the USD can get going along with it.
If it comes out at 84.1 or lower, EUR/USD should fall 40 pips.
If it comes out at 85.9 or higher, EUR/USD should rise 40 pips
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
Just a quick text signal tonight as I find myself without enough time to put together a full video signal. So far I see no major reasons to shift the overall short focus, so I recommend holding short EU, GU, Stocks and Gold if in on a position trade and/or looking to short on bounces for medium to long term trades. With a lot of focus this week on the very large US Treasury offerings, one might think bonds will sell off, yields will rise, and the USD will be weak; however, everyone has seen this coming and priced it in, so I think it's far more likely the opposite will happen. Because of all this psychology, we could see a bit of continued bounce on Monday before the short side takes over again. Friday's CAD Retail Sales nearly hit our buy trigger level but performed nicely if you were patient churning steadily upwards about 100 pips over the course of 75 minutes. Had you gotten out after 45 minutes, you were still 45 pips above prerelease. This was more of a case of being in the right place at the right time as the late surge came more on the back of USD strength than CAD weakness. For Monday 6-22 there's one trade worth watching:
0400 German IFO Business Climate (about 85.0 expected) - This indicator has been giving some decent signals lately and should be good for about 40 pips in the first 15 minutes, and could see more follow-through if the USD can get going along with it.
If it comes out at 84.1 or lower, EUR/USD should fall 40 pips.
If it comes out at 85.9 or higher, EUR/USD should rise 40 pips
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot