More so choppy price action throughout the week than the bond market or yields but it can be seen that a rebalancing has occurred on the Friday and on this weeks Monday open but sellside is still pending to be attacked.
Smooth lower highs has been created which will challenge my short bias down to the consequent encroachment of the weekly fair value gap as the saying goes ‘smooth edges eventually becomes jagged’. A break above 106.188 would lead me to sit on my hands as we could be in for a bullish buystop sweep up-to 106.600.
Bearish repricing through 105.414 will be an extra confirmation that there is a higher chance dollar index will continue to be risk on into the weekly fair value gap.
Note, we have been in the daily BISI for the majority of the week so it will be interesting to see how price action pans out during the week.
Monday: 1 Red Folder, 1 Gold Folder
Tuesday: 6 Red Folders, 6 Gold Folders
Wednesday: 8 Red Folders, 1 Gold Folder ( CHF, GER, ITA, CNY BANK HOLIDAY)
Thursday: 3 Red Folders, 0 Gold Folders ( CNY BANK HOLIDAY)
Friday: 4 Red Folders, 1 Gold Folder (JPY, CNY BANK HOLIDAY )
Smooth lower highs has been created which will challenge my short bias down to the consequent encroachment of the weekly fair value gap as the saying goes ‘smooth edges eventually becomes jagged’. A break above 106.188 would lead me to sit on my hands as we could be in for a bullish buystop sweep up-to 106.600.
Bearish repricing through 105.414 will be an extra confirmation that there is a higher chance dollar index will continue to be risk on into the weekly fair value gap.
Note, we have been in the daily BISI for the majority of the week so it will be interesting to see how price action pans out during the week.
Monday: 1 Red Folder, 1 Gold Folder
Tuesday: 6 Red Folders, 6 Gold Folders
Wednesday: 8 Red Folders, 1 Gold Folder ( CHF, GER, ITA, CNY BANK HOLIDAY)
Thursday: 3 Red Folders, 0 Gold Folders ( CNY BANK HOLIDAY)
Friday: 4 Red Folders, 1 Gold Folder (JPY, CNY BANK HOLIDAY )
ความคิดเห็น:
Was in two minds throughout the whole of last week but as the BISI has been negated, price action is much clearer now
