Currently have no positions open since the start of the week, most of my shortlisted pairs have been invalidated and waiting for new signals to show up.
Another week of patient waiting and sitting on my hands.
JPY pairs were hammered yesterday while the rest are all still stuck in limbo – no decisive movement yet.
DXY is now back down to <100 after last night, currently trading in a tricky range between 90-100 again.
Although my general bias is a medium-term bearish outlook for the Dollar, but do be careful when trading USD-related pairs for now as it is not going to be a smooth ride. Unless either 90 or 100 is broken decisively, expect erratic behaviour every now and then.
On the other hand, NZD is having its monthly RBNZ cash rate announcement tomorrow at 4:00 AM Singapore time, so do watch your risk on that front as well – from my experience, NZD movements tend to be pretty powerful when it comes to cash rate releases.
No clear bias on NZD from me.
Trade safe and trade well.