An uneventful European morning without much to see. US numbers coming after the long weekend and to officially start the autumn season with everybody back on board.
Light calendar this week, with equities itching to rally and take the highs but US numbers didn't help last week. A soft push from reports will be more than enough to set in motion the week in the opening range.
On the FX board, a light schedule ahead of Sep FED and this week for the first time in a while (all summer) Euro is the only mover and shaker in play with the ECB....
Watch-out GU as this is the first time neither Dollar, YEN or Sterling are in direct play. There is very little interest in buying Sterling at these levels but there is fck loads of money eager to sell higher.
Good numbers in August are helping Sterling for a much need breather after the hammering, while Dollar is not in play until the FED meaning a dovish ECB can easily trigger a sharp in an out to the 1.35xx handle with extension 1.399x in no time.
Don't forget that the 1.35xx -> 1.40xx range is literally empty. We barely traded those levels (no more than a few minutes of air during panic) in the Brexit knee jerk reaction (check back post on that epic live trade on Brexit). This is prolly on of the last times Sterling could diverge from Dollar (and Euro to lesser extend) in the foreseeable future.
As you prolly know this a very advanced trade as is a purely volatility setup edging with and against real large money so if you don't know exactly what you are doing better just ride it in the way back with the trend.... my 2 cents US numbers giving the go ahead in equities can be telling for the heads up ... GL
sisse
Light calendar this week, with equities itching to rally and take the highs but US numbers didn't help last week. A soft push from reports will be more than enough to set in motion the week in the opening range.
On the FX board, a light schedule ahead of Sep FED and this week for the first time in a while (all summer) Euro is the only mover and shaker in play with the ECB....
Dislikedlazy day so just for fun. here is update of my previous G/U short term chartIgnored
Good numbers in August are helping Sterling for a much need breather after the hammering, while Dollar is not in play until the FED meaning a dovish ECB can easily trigger a sharp in an out to the 1.35xx handle with extension 1.399x in no time.
Don't forget that the 1.35xx -> 1.40xx range is literally empty. We barely traded those levels (no more than a few minutes of air during panic) in the Brexit knee jerk reaction (check back post on that epic live trade on Brexit). This is prolly on of the last times Sterling could diverge from Dollar (and Euro to lesser extend) in the foreseeable future.
As you prolly know this a very advanced trade as is a purely volatility setup edging with and against real large money so if you don't know exactly what you are doing better just ride it in the way back with the trend.... my 2 cents US numbers giving the go ahead in equities can be telling for the heads up ... GL
sisse
Pending conversations? PM for a chat...I am mainly in OTM now
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