Monday, August 2, 2010

Monday Mornings: Quiet as always

Not much been happening this morning. I guess everyone is waiting it out for Europe to open.

well looking at the charts we got Euro, Cable and Aussie still looking bullish, and the Yen looking still bearish.

few economic data's coming out today:
UK manufacturing PMI - 8.30am GMT
US ISM manufacturing PMI - 2.00pm GMT

today strategy:

for now i'm actually holding a long sterling position at 1.5570, which is positive in profit at the moment.
i have placed a stoploss order at 1.5640, just in case we see sterling fall.
for now i am looking at sterling hitting 1.5800 levels, so i'm going to wait till europe opens, and see where it takes the cable.

Also intraday, i'm looking to enter long on euro, cable and aussie, and short yen.

so lets see how the afternoon works out later today!

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