The Flying L Trader – September the 27th

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In the old world it was another lacklustre session but the pommies slipped a tad with their current account release and the cable dropped 60 pips on the news. A little later the US dollar began to strengthen with the dole numbers and home sales despite the posturing in Washington over the budget. US stocks after 5 red days (most consecutive red ones this year) had a minor green one.

Commodity land, oil jumped a tad, copper up 1% dragging all the industrial metals with it. Gold and precious metals were down 1%, whilst soft commodities ended all well in the green. Bond yields bounced a tad along with the greenback.

Should be another quiet session today/tonight, leaving the brokers and merchant bankers to have a long lunch.

I’m back out on the water tomorrow in the Grant Norton Short Haul, breeze looks good in a cloudless sky with 29deg temp. Should be a good day. Enjoy your weekends all.

DATA HIGHLIGHTS TODAY – Not much out but some central bankers are spending time in front of cameras and boom microphones.

AUDUSD – A HHHL 60 pip high test, oh Aussie, you are on fire! No interest in trading this yet.
Resistance: 9390/9527/9576
Support: 9300/9215/9138

EURUSD – Another lack of interest bar, being a seller inside bar. Still leaning towards the downside though.
Resistance: 13545/13644/13700
Support: 13400/13236/13100

GBPUSD – Slightly more interesting being a higher high, but still a seller bar. Now starting to look for a shorting opportunity next week back to support.
Resistance: 16180/16300/16390
Support: 15890/15755/15610/15420

NZDUSD – Recovered from the disappointment quickly and is now likely to head towards last week’s high before turning south again. An opportunity exists right now on the 4hr charts….
Resistance: 8392/8432/8480
Support: 8160/8100/8050

USDCAD – A high test and considering the US is getting weaker against all peers the Loonie looks likely to turn here. 1.03 has held though so I am tightening stops up.
Resistance: 10420/10555/10673
Support: 10195/10100/10000

USDJPY – So many trendlines can be used on the Yen as it squeezes in b/w 98 and 100 now. Still no interest though.
Resistance: 100.00/100.70/101.20/102.56
Support: 9690/9580/9497

GOLD – Treading water but a slightly HHHL.
Resistance: 1350/1,425/1,489/1525
Support: 1307/1,266/1225

David Long/ Proprietary Trading Manager

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