We have seen a good rally in equities since last week. Monday was a huge run up that was met with an equal amount selling yesterday. As of press time, Dow futures has broken yesterday’s low. We might be seeing some sort of bearishness near term. The best entry for an intraday short was about 2 hours ago.
Given the late entry for a short opportunity, there might just be another opportunity on the flip side.
Sterling has been strong lately. Market is looking forward to fiscal stimulus announcement today. This would be around 8PM (GMT+8).
Market is now moving in unison. USD and JPY are strong against risky currencies AUD, NZD, and GBP. This fiscal stimulus announcement by the UK government may provide some ground for GBP and a unilateral move may just pop up.
GBPJPY Long:
Entry 134.60-134.00, TP 136.20
Trader H
TraderH is a foreign currencies trader and a former Certified Securities Representative in the Philippine equities market. All posts herein are personal views and are not endorsed by any organization whatsoever. It is important that you practice due diligence in your trade plans. This website and its authors will not be held responsible nor liable to any of the reader's losses.