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  • Writer's pictureMike Paterson

It's Xmaaaaaaaassssss!!

Yes folks that time has finally arrived. Seems like it crept up on us very quickly but the same speed seems to have taken 2019 rapidly to its conclusion too.

Can I take this opportunity at the top of the page though to say a very big thank-you this year and I do hope my thoughts/ideas/strategies/information have helped. Sometimes the timing is wrong but none of us get it right every time and as I always say we need to analyze less, keep discipline and be ready/brave enough to jump back in.

GBPUSD has tested 1.2900 on its continuing decline but has since bounced to test 1.2960 offers and now pivotal imho ( I don't do precise calculations as you all know). EURGBP broke through the offers at 0.8550 to post 0.8580 as month-end BUBA demand prevails too amid the thin Xmas liquidity as Ive been warning.GBPJPY has broken down through 142.00 support as the fragile risk sentiment prevails.

I stay poised to sell GBP rallies while respecting the natural dip demand still and we should continue to see some good two-way business.

EURUSD remains tightly bound after holding below 1.1100 and USDJPY is also tightly bound still amid the variable risk and USD sentiment. USDCHF is holding 0.9800 still as EURUSD remains near its lows but EURCHF still finding a few sellers.

AUDUSD seems to defy gravity still but maybe some year-end demand and remains above 0.6900.USDCAD remains tightly bound amid variable oil price and USD sentiment.

Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always. Markets will get more scrappy as Xmas and New Year prevail.

Don't forget that I offer 1-2-1 mentoring if there's areas of trading these tight ranges, or how to make best use of the order boards and expiries, that you might need some further help with. I shall happily discuss opportunities to hook up if you wish to take advantage of the festive break.

Have a good day out there one and all and have a great time this week with your loved ones, however you celebrate it.

Interbank rates: 08.05 GMT

GBPUSD   1.2928

EURUSD   1.1085

EURGBP   0.8574

GBPEUR   1.1662

GBPAUD   1.8682

GBPCAD   1.7012

GBPJPY   141.41

GBPZAR   18.3637

GBPHKD   10.0308

USDJPY   109.38

USDZAR   14.1960

EURJPY   121.22

EURCHF   1.0890

EURHKD   8.6006

AUDUSD   0.6922

USDCAD   1.3156

USDCHF   0.9823

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