Daily Alert: Tuesday 7th August 2018

Mark NugentAug 2018, Daily Alert

Daily Alert: Tuesday 7th August 2018

As per summer schedule, this commentary is email only with latest Trading Plan here – goo.gl/Apxhk9 (click on link or type url into your address window, not the search box, on your browser.)

Currently in Barra, Outer Hebrides. The heating is on, I kid you not.

It is a very quiet week on the calendar.

The major issues I see are:

1. US and UK equities grinding up over many days (since last Thurday’s pinbar, when I hope you entered Dow30 long and/or FTSE100 long).
2. US also grinding up over several days (and, of course, GOLD grinding down).
3. GBP struggling due to apparently endless shambolic Brexit negotiations and the worm Fox’s comments of 60% chance of no deal.
4. EUR also struggling, I suspect for same reasons as 3 above, but you’d never hear the media say that because the approved wisdom is that EU = virtue.

So, if I were you I’d be a) warmer and b) looking at US equities, EURUSD short, GBPUSD short, and, if the JPY stays strong, maybe GBPJPY short as an alternative to GBPUSD.

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