Be cautious is my advice.

Be cautious is my advice.

Morning all
Friday’s NFP has taken the $ out of a recent smallish consolidation and so today I am looking to see if it stays outside to the north of it. With so many people saying that the $ economy is looking good we could be looking at a bounce. Whether the bounce is significant enough and it climbs the stairs is another thing but one thing is for sure (for me anyway) today I’ll be watching more than anything. There are some UK figures out at 09:30 and I may get into that but otherwise I am not expecting much currency wise today.

It’s worth checking out the indices at the moment.
Just about everything has “topped” (for the time being anyway) and this morning already most have fallen out of bed. These breaks are against long term trends and so is that then end of those runs too..?

Be cautious is my advice.
The day after NFP is generally nervous and this looks like that already.

Trading Account
I didn’t get round to updating that over the weekend but will do so later this week depending on my trading activity.

Clive

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Categories: Analysis, Viewpoint

About Author

Clive Arneil

Clive Arneil worked for major brokers for over 20 years trading most instruments in the Foreign Exchange markets as well as Derivatives. Brokered deals on behalf of some of the worlds largest banks including Barclays, Citibank, UBS, Nat West and the Bank of England. Worked mainly in the UK but also in Switzerland, Germany and the U.S. Retired from the Money Market at the age of 40 and worked as a financial data feed specialist supplying market data to Banks, Brokers and Spread-Betting companies. Still trading and teaching people the skills required to master today’s volatile markets.