Remaining EUR/USD and GBP/USD swing trade positions closed.
Recommend others do the same. Will look to re-establish or reverse later.
Cheers
Recommending to take some forex gains off the table for GBP/USD and EUR/USD at this time. Can either take all off the table now or leave a trailing stop as this is a swing reaction trade .
A quick glance at crude oil and gold would indicate that the USD weakness from Tuesday will see a short term reaction in opposite before the next primary directional wave can be determined. Selling short GBP/USD and EUR/USD may provide a decent opportunity to capture this opportunity.
I just shorted GBP/USD @ 1.6419 for a swing trade. The market condition on a statistical basis is extremely overshot to the upside. The caveat of taking a position at an extreme is that it can become more extreme.
