Cyclopip

Decided to close my GBP/AUD short after BOE comments & weak Aussie jobs data. Thanks to today’s RBA meeting minutes, I got out at a great price.

We’ve got a steady trend higher, consolidation, and a downside break from this week’s most watch currency crosses: EUR/JPY, GBP/JPY and EUR/GBP.

Before I close out for the week, just wanted to share updates on my EUR/JPY and GBP/AUD trade ideas, both of which are alive and kicking.

EUR/JPY has pulled back higher from its recent strong trend lower. Is it time for the sellers to take control once again?

We got a high bounce on yen pairs, creating nice Fibonacci setups forex traders and EUR/GBP looks to now be rangebound.

I’m going with a countertrend trade on GBP/AUD as I think the fundamental drivers are starting to shift for both the U.K. and Australia. Is it reversal time for both currencies?

In just a few short weeks, it seems that the story for broad risk sentiment and the U.K. has changed. Since the story has changed, gotta change my position in the market.

Yen strength seems to be the name of the game this week, and I’m starting to see a change in behavior for one of my favorite pairs, EUR/GBP.

Forex pairs seem to be diverging from their usual correlations lately, which means we have a nice variety of setups to look at the currency crosses!

Risk aversion hits big time after the weak China manufacturing data yesterday, kicking off a transfer of capital from higher-yielding currencies to “safe havens” like the Japanese yen. Not so good for my trade.