Monday, July 30, 2007

Forex Biases for July 30

Price consolidation. Markets are out of sync at the moment. My current daily biases on the following markets are as follows:

USD/CAD UP
USD/CHF DOWN
USD/JPY DOWN
EUR/USD DOWN
GBP/USD DOWN
NZD/USD DOWN
AUS/USD DOWN
AUS/JPY DOWN
CHF/JPY DOWN
GBP/JPY DOWN
EUR/JPY DOWN
EUR/CHF DOWN
EUR/CAD UP
EUR/GBP UP

I played a short trade on CHF/JPY today with +22 on half of the position and stopped out for nothing on the other half after an unusual price swing. Total: +0.55R. I had an unrealised 34 pips gain earlier, ouch! Meanwhile, I am predicting a tighter trading range for tomorrow and even the day after tomorrow. Then, there should be some playable breakout actions.

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