30th May 2018 – update
“Oooh look at me” says the Euro$ having bounced from the 1.1500 – 1.1525 support buffer zone where I said it would yesterday (smug grin) .
It is now more or less at the point from where it fell the day before around 1.1600 all courtesy of a $ pull-back that has frankly been well over-due for some time.
It doesn’t change my overall view so as far as I am concerned this is just a rainy day in a $ Summer (isn’t that a singer from the late 70’s..?).
Will it last?
I dont think so but we must remember the market is always right.
However, at this time as this move is not the direction I am looking for (same with the Cable) it simply means no trading for me right now. Oil and Gold are off radar so it’s an early bath as I’m not going to hang around to see if this afternoons ADP Non Farm numbers impact things.
Tomorrow sees day 1 of 3 for the G7 meetings and Non Farm is this Friday so expect a volatile market here on in and early next week.
Tip:- You might want to think twice about running any trades over the weekend.
Catch up with you later.
Clive
