A Bit of a Shake-out

For me to do a Friday post is most rare indeed but yesterday's move has prompted me to do so.

A Bit of a Shake-out

15th June 2018

Hi Guys.
For me to do a Friday post is most rare indeed but yesterday’s move has prompted me to do so. The moves in Euro$, Cable and $Yen have all conformed to my way of thinking so I can see myself becoming a little busier than usual (my holiday break aside). After a big day there’s often a bounce, that’s normal, which is generally caused by traders taking profits from overnight positions as well as taking advantage of new levels. Therefore before any such move is confirmed or otherwise there’s generally a bit of a “shake-out”. This I expect to happen today (probably this morning) and over next week.
From 07:00 – 10:00 will be interesting.

If the moves are confirmed then I see things as below.

Euro$ – lower.
I fully expect this to test 1.1500 and should it test and continue into the old range (dare I say it) I reckon it could eventually end up as low as 1.0500.

Cable – lower
This has 1.3000 written all over it as the Brexit B******t continues and after that 1.2700

$Yen – higher
I have 114.00 in my sights for that one.
This will be harder as at a pivotal level at 111.00 and it has to get over that first.

Guys remember these are just my opinions and nothing more, they are certainly not trading advice. Markets fluctuate and there will be up and down days but for the moment this is how I see things panning out over the coming months.

That’s it for me now – Holiday Time.
Catch up on the 25th June

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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.