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This week Trump has declared tariffs on Mexico (he still doesn’t “get it” that US consumers will have to pay more for their imported goods).<\/p>\nHi,I said last week that “we live in such extraordinary, political times that it seems that the extremes have become the new normal”<\/p>\n
This week Trump has declared tariffs on Mexico (he still doesn’t “get it” that US consumers will have to pay more for their imported goods).<\/p>\n
He is visiting the UK for a few days and is already dictating his views on Brexit & who should lead the UK.<\/p>\n
Now the rhetoric is starting to crank up a gear with the Chinese defence minister warning the USA to keep its nose out of the South China Seas.<\/p>\n
He states that China doesn’t want war but will fight for what they claim to be their territory.<\/p>\n
Then in the Middle East, the Iranians are saying that if there is a war that oil will go to $100 a barrel (which it probably will).<\/p>\n
What happened to diplomacy?<\/p>\n
Is nobody else concerned that the lunatics have taken over the asylum!<\/p>\n
Last week I explained how I was looking to trade from the “edges” to try and avoid the crazy moves and I will continue to do so.<\/p>\n
This week there is a lot of Aud news and its NFP Friday, so despite everything else that is going on around the world, we have to pay close attention to scheduled news.<\/p>\n
Last weeks Euro\/Nzd: I took half of the profit of around 80 pips at the trend line as per my plan. I then moved the stop clsoer on the 2nd part but it was unfortunately taken out on the pullback. I am still watching this pair to take it again, either at the top or if the trend line breaks and holds- see the video.<\/b><\/p>\n
Gbp\/Cad: Member Alvin again showed a good setup in last weeks live session: This looks interesting to short at 1.7230 area for multiple reasons. If it drops then I will definitely long at 1.6900.<\/p>\n
GBP\/$: Politics in the UK are broken. There is no viable end in site re Brexit. Whoever becomes the new Prime Minister or even if there is a general election I just do not see a way out of the current mess. I am only interested if price pulls back. At the moment it just keeps dropping but its too far away from emas etc to place a stop.\u00a0<\/strong><\/p>\n 1.2900 is the first place to look for a short and if it shoots higher then definitely 1.3000 for me.<\/p>\n This week’s European election results will be closely watched and spun by Remainers and Brexiteers alike. It is also a Bank Holiday on Monday which will probably mean thin liquidity which can result in crazy spikes, so trading it on Monday is VERY risky.<\/strong><\/p>\n