Good Day,

Hope that you all had a great weekend.

We are still range bound this morning but with Asian and European markets both positive, it looks like the North American markets will follow suit and copy. Oil, Gold and Copper are all red at the moment (to varying degrees) but not to the extent that I think the USD would strengthen dramatically. Therefore, I think that the slow upward grind will probably be the order of the day again today.

The RADAR TRADES from the weekends blog were placed about an hour ago, and I did alter the entry levels on a couple of them to reflect the overnight moves (for me).  The spike lower on the GBP, has just triggered entries for the GBP/USD long, GBP/CHF long and EUR/GBP short trades. I have great entries if they bounce..happy days!!

I covered the USD/CAD  trade (FT153) for +54 pips as, I think with the slow bring higher this pair will re-test the breakout level of 1.0690 at some point either today or tomorrow before moving higher. I have placed a new trade as follows with my brokers: -

RT133
USD/CAD
Long
Entry at 1.0685
Stop Loss 1.0650
Limit 1.0850

I am expecting the NZD/USD to break higher this week and test the 52 week highs at 0.8842. Whilst I will not chase it higher I am thinking of a trade entry  around 0.8830 to go higher for the stop-loss run and possibly a fresh breakout towards 0.9000. Not sure if I will do this but it is on my mind. The RBNZ is up next week, I think, to review interest rates so if Wheeler the dealer increases rates that would be a good trade. If he does not raise rates, my short that would be a good trade but I will need to revise the stop to cope with spikes ahead of the release of the data. I may hold the short trade to add to the position and short from the 0.9000 region, but this is not usually my style of trading.....  I never entered his trade to do that.

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All in all it looks like another very slow day ahead....

Do not expect much on twitter....

Scott