Very interesting trading range today in the dollar.
So if you were trading the dollar. It was an interesting day. Day. I'm not sure what you trade but if you are on the small exchange you can trade the SFX. And that's basically the dollar versus the world. It's very similar to following DXY. Only. It's also includes China and Mexico.
And if you were savvy and smart and nimble then the dollar trade today was as soon as the future is opened, you bought the dollar. You waited a couple of hours and then sold it. So if you were in Los Angeles, that means at 5:00 a.m. you bought the dollar and then at 7:00 a.m. you sold the dollar. I didn't do this. Hahaha.
That would have been a nice trade. I have to admit but I was focused on making sure a withdrawal was being completed for my landlord. And I was also trading my forex account on Amanda, and keeping an eye on a GBP JPY.GJ. I'm telling myself I'm being disciplined by only trading GBP JPY lately, but I am also missing out on some opportunities. I also didn't quite make the best trade in the world. I am adding to shorts currently on GJ, and I do expect to retracement over the night. We will see. There's a lot of news coming out for the UK overnight, so kind of rolling the dice.
I thought it was interesting this morning for the dollar news that the non-farm payrolls were so dismal and yet the dollar bounced. Then I also heard that the US saw a record. $45 million people leave their regular jobs last year. That was on tasty trade from veneta. So very interesting to see the dollar catch a little bit of a bounce this morning after such a dismal news release. Probably price then. Everything was probably being priced in, people already knew that the job supports were going to be bad. And then when the news actually hit there were certainty and we caught a little bit of a bounce.
Now that said, as you can see the dollar didn't just keep on going higher It went up and then it ranged. I purse. Another reason I didn't take the trade was I thought that the dollar was going to go a little bit lower especially with the news. I was wrong so I didn't take a trade. I do expect a dollar to go a little bit lower. But I could be wrong. I could totally be wrong.
Why is that? And that's because EU is in a spot where it should be shorted. Let me see if I can pull up a chart on it.
Yeah there it is. Don't you just want to short this. I mean it went to some super lows. Retraced back to retest where it broke out. Two lower price. And that great big consolidation area over the past several months. And now I just want it to go lower, don't you? Hahaha. Don't you just always want a short the euro. But either way the EU moves adversely to the dollar.. The Euro dollar is one of the most traded vehicles on the planet, especially in forex.
I really got to up my game and figure out the yield curve and really get in a trade on the bonds versus the notes which is the 30-year versus the 10 year.. I really got up my game and chart those out and trade the yields a little bit better. But as for trading the dollar. It's very efficient tradable vehicle. Product. It's pretty volatile. So people think that Bitcoin and cryptocurrencies are the most volatile assets to trade, the dollar is pretty all over the place too.
That said, GBP JPY is really out there. I'm not even a talking about that in this post. That is its own post GVP GPY. God bless GJ
So what am I doing tomorrow. I don't know! We'll have to wait and see what happens overnight. I am really keeping an eye on GBP JVUI overnight. And watching a fun show called peaky blinders. All I wait for certain moves and. But I will hope, emphasis. Hope, that the dollar is nice and low. A little bit lower than it is right now so that when the future's open at 5:00 a.m. Los Angeles time I can just make a buy. And buy and hold and we'll see. Now I've noticed that things tend to whip solve from day to day. So I would not be surprised if the dollar bulls goes higher overnight. And in the morning. It's a cell. We shall see. What are you trading by the way??
Anyway, please let me know what you think. Thank you for reading. And please please please please leave an upvote or comment. I really really welcome comments. I want to hear what you're trading. I would love to have a conversation here on Hive. This is a great place to talk about finance. So please leave a comment. It really helps me going... Keeps me encouraged and motivated. So thank you for the engagement and the upvote.
All the best and yes send all the best!!!
