EURUSD – Euro/dollar forex trade retraces, but bearish bias remains
The EURUSD moved higher last week, retracing up on some of the previous week’s move lower from key resistance up near 1.1050. We are still bearish on this market and whilst it’s below 1.1050 we will look for price action sell signals from current levels up to 1.1050 to rejoin the overall downtrend.
GBPUSD – Sterling/dollar shoots higher but still contained under key resistance
The GBPUSD moved significantly higher last week after briefly falling to new lows in the downtrend. Price is still contained under key resistance up near 1.5135 area. We can look to sell from there either on a blind entry or a price action signal should price move up and test that level this week.
AUDUSD – still confined within trading range
The AUDUSD pushed higher last week as it bounced up from key support down near 0.7560. This market is still clearly oscillating in a trading range with resistance near 0.7915 and support near 0.7560. If price makes it back up to the upper boundary of the range near 0.7900/15, we will look to sell there in anticipation of another move lower. However, we would wait for a confirmation sell signal there before going short.
We have a forex scalping in eurjpy in New York which is currently in +30 pips and we will close it.We choose the entry due to the fact that in this time waters are calm and yesterday daily candle was a hansom pinbar. EURJPY was in a calm consolidation and the small breakout developed nicelly.
I have entered in 128,005 and I am taking profit in 128,38
We are at the point were gbpjpy is retesting the breakout point that happened at 10.25 in London open this morning.
So we can enter for forex scalping with minimal stop loss of 15 pips and take a scalp of at least 10 pips.This forex scalping can lead us in a swing trade since we are scalping in the daily candle direction.
The following are the latest weekly positions updates on Societe Generale’s FX Quant Fund which runs systematic currency strategies by SocGen’s quant analysts.
The risk on board the SG FX Enhanced Risk Premia remains very limited as the models have scaled down even the few more sizable positions. During the week, the long dollar position has been increased mainly at the expense of the NZD and AUD. The biggest longs at the moment are the dollar, NZD and NOK. The most sizable shorts are the SEK, AUD and EUR.
The short position in the AUD/USD and the long position in the USD/SEK have remained the USD crosses with the highest combined momentum and IR-driven FX signals. The standard SG Sentiment indicator has dropped into the risk-averse zone.
Based on the adaptive (tailored) version of the sentiment indicators and the relevant time-series signals, we have a long exposure to G10 carry using 35% of the risk budget, to Asia carry using 25% of the risk budget and to EM carry using 50% of the risk budget.