Current positions update.
It's now Wednesday and positions have continued with our directional bias, Up. To over view our positions, we are holding the following positions all longs (buys). Aud/jpy, Eur/chf, Gbp/chf, Gbp/jpy, Usd/chf, and Usd/jpy. The Aud/jpy and Usd/jpy positions have retracted some since there ultimate high, but the Swiss Franc associated trades that we sold it against have more than made up for the strength of Japanese Yen (jpy). I could get into some macro fundamental breakdown of why the pairs are moving in the way that is playing out, but trading it on a shorter time frame of positions being held for only days, I think the technical aspect is more relevant and I don't really have it in me to come up with some fundamental bs today. Instead we'll just go over some facts about the trades.
The Eur/chf pair had originally sold off about -18%, our trade in that has moved up about +3.3%. Our Gbp/chf trade is up about +3.6%, that had sold off some -15% since the Swiss National Bank (SNB) removal of the Eur/chf $1.20 support barrier. Usd/chf is at +2.6% rebound from it's -14% sell off. Where are these going to end up you may ask? Beats me, my guess is we will probably hold close to the current levels with a possible testing of the high water marks from earlier this week. Both the Eur/chf and Gbp/chf reached up over a +4% rebound before settling back down to where they are currently. The Japanese yen trades have completely evaporated their gains and the Aud/jpy, Usd/jpy pairs are now posting a loss.
In one hour and 40 minutes Japanese retail sales are being released for year on year (y/y), so hopefully this will help out positions. Later at midnight my time, Great Britain national house prices month on month (m/m) are being released. Two hours after that German unemployment change and rate will be released, this could help out our Eur/chf trade, so of course we'll be praying for the best outcome.
That's all I got for right now, good luck.
Professor Chaney
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Wednesday, January 28, 2015
Positions update.
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