Mar18 – Market Analysis

Another non-trading day has passed. Most of yesterday was spent working on getting the computer back to a working state, as well as several phonecalls with one of my brokers to get the platform re-installed.

I have another call with the broker this morning at 9.30am.  I am unlikely to trade prior to that time.

Wrap of last week’s results – last week was a good trading week.  Last week I made a gain of 1.79R across 14 trades – 6W, 5L and 3BE – 5xSTAM and 9xS3.  Onwards and upwards…..  Based on last week being profitable, I am increasing my £ unit of R from £275 to to £330 this week.

FX Market

GBP has been weakening over recent days, with its rating tumbling from 13 (on 6th March) to 7 points.  Over that same time period, EUR has gained 3 points, AUD has gained 3 points with little change over the other currencies.  Thus in the strong-ish camp I have CHF (13), EUR and NZD both on 11.  Then there is GBP on 7 in the middle.  On the lower side there is AUD (5) and strengthening, and USD, JPY and CAD on 2-4 points.

23 of the 28 currency pairs are currently in S1 or S2 environments.  

I will wait to until the 11am candle to conduct more detailed analysis – firstly because I still need to resolve some platform issues, and secondly because of the Putin press conference at 11am.

Equities & Commodities

The equity markets saw a big rally yesterday.  More than half of the indices are still in a buying environments.  I am assuming that the Putin press conference may also have a big impact on the indices.

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