Market Sentiment Is Turning USD Bull.
Unexpected high new home sales, strong Annualized GDP, personal consumption, and increase in initial job employment has caused this new direction. Market expectations of the Fed raising interest rates in June 29 FOMC Meeting is getting stronger. Despite the slow down in Durable Goods Orders and the New Home Sales which was said notoriously inaccurate number AND Annualized GDP is lower 0.5% than expected. It's seem that the market is seeing USD bull no matter what is it. It's been range trading mostly within this week and particularly not much of movements in currency except for commodities. Gold has been hiking and fluctuating as much as 5% per day which directly influences the market price in the currencies and the USD is the major crosses in the currency. I'm expecting gold to fall more until it continues the bull rally. When that comes, I'll be involved in Euro heavily and maybe 1 or 2 units of gold for long term trading. Until then, I won't make, any new trades on EUR/USD and USD/CHF. I would now like to cover all my negative trades in USD/CHF which the highest trade I got stands at 1.2380.
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Existing Trades
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Long EUR/USD @ 1.2860
Long EUR/USD @ 1.2910
Long EUR/USD @ 1.2960
Long USD/CHF @ 1.2085
Long USD/CHF @ 1.2100
Long USD/CHF @ 1.2240
Long USD/CHF @ 1.2280, TP @ 1.2330
Long USD/CHF @ 1.2380, TP @ 1.2430
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Trades I'm Waiting For
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Gold @ 600
I'm hoping to see Friday sell offs to be active today instead of range trading in Asian and London Session.
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Existing Trades
==================
Long EUR/USD @ 1.2860
Long EUR/USD @ 1.2910
Long EUR/USD @ 1.2960
Long USD/CHF @ 1.2085
Long USD/CHF @ 1.2100
Long USD/CHF @ 1.2240
Long USD/CHF @ 1.2280, TP @ 1.2330
Long USD/CHF @ 1.2380, TP @ 1.2430
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Trades I'm Waiting For
===================
Gold @ 600
I'm hoping to see Friday sell offs to be active today instead of range trading in Asian and London Session.
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