This is a technicals post trading straight off the chart and candlesticks pattern based on my inflation interpretation. 222 more words
Tags » Eur/Gbp
UK’s inflation figures came out to 2.9% beating the 2.8% estimate and previous month’s 2.6% figure. I caught a decent sized move on my EURGBP short trade and also USDJPY long although the latter isn’t relevant to this inflation figures release. 177 more words
Sails are up on this short trade due to global macro and technical confluence.
On the macro side, the COT report shows swap dealers are stretched long the GBP-USD contract and institutional managers are actively taking profit on their euro long positions. 110 more words