“Oooh look at me”

by Clive Arneil , May 31, 2018

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

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Categories: Analysis, Guest Writers, News

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.