Today’s economic data was mixed with Chicago PMI remaining below 50% indicating economic contraction while consumer confidence remained extremely high. Equities traded down for the day along with commodity prices including oil and gold. The dollar began to climb back towards the 5 year highs and we are expecting this to help our current positions.
The EUR/USD broke through the lower Fibonacci level. We are setting a sell limit at 1.08 and we are tightening our stop to breakeven on the initial position.
The GBP/JPY edged higher but paused. We are still watching for price to fall back to hit our buy limit on this pair. With the increased volatility seen today, we could easily roll over and trigger the trade.
The CAD/CHF traded almost perfectly flat today. We have tightened our stop and we are watching for price to continue to fall and get to our target. Right now it is a struggle between oil weighing down the CAD and the euro weighing down the franc.