Jury still out as another week closes
Friday 14 May 2021
How many times have I written that headline recently? Equities, metals, cryptos all making their minds up and in the absence of any clear lead we have FX pairs still ranging.
Jury still out therefore so ignore the noise and, as always in these fickle times, be careful with your trading. Pick your preferred entry/exit levels and don't be greedy or over-analyze. Patience a virtue too of course.
GBPUSD: Now capping into 1.4080 and another good rally-sell opportunity after the hold of 1.4000 yesterday where I warned of large bids. EURGBP: A good hold of the 0.8580-85 pivot area yesterday but equally still capping around 0.8620. GBPJPY: Still underpinned at 153.50 amid the general JPY supply and core pair dip demand but sell interest now at 154.00 helping to cap amid the uncertainty.
I remain a GBP rally seller across the pairs but still not getting over greedy with expectation on the retreats.
EURUSD: Still a good hold of 1.2050 and some re-sells pips duly banked. Some general EUR dip demand notable and now testing decent offers/res between 1.2120-30. USDJPY: Finally showing some weakness after the hold of 109.80 and now testing 109.30. EURJPY: 132.20 now a decent base but still capping into 132.80 as we see some general EUR strength.USDCHF: Testing 0.9020 as I type as EURUSD rallies after yesterday;s option assisted rally into 0.9100. SNB ever watchful and ready to help. Rally sellers still poised.EURCHF: Capped into 1.1000 and now retreating as USDCHF falls after the options-assisted rally yesterday.Support nearby at 1.0930
AUDUSD: A good hold of key 0.7690-7700 support and pips banked with some AUDJPY demand still helping to support along the way. Posed to re-sell between 50-60. Decent option interest today thru to Monday at 0.7750 that should help contain.USDCAD: Capping at 1.2200 and now looking to test 1.,2120-30 support amid softer USD tones. Keep an eye on CADJPY still.
Let's continue to be careful out there in all things. Staying safe must be our main priority still. Have a good week-end everyone.
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