Hope everyone had a great Memorial Day weekend. Trading can become lonely, stressful, demanding, etc, so I hope all of you traders enjoyed the long weekend. I’m not going to lie, I did peek at the markets on Monday and even made a successful trade, longing USD/JPY, but for the majority of the weekend, I enjoyed it with my friends and family. It’s always healthy to maintain a balanced work/social life style. The long weekend was a great recharge for the up coming week.
We were left off with a intense Friday after a NFP and unemployment report. The dollar rallied, then came to a stop. Today, however, the dollar gave in, pushing up the other pairs sky high. EUR/USD, GBP/USD, AUD/USD, NZD/USD, you name it, soared to the moon during late NY session. I was profitable in the morning longing dollar. Volatility was okay, and markets were slow, but tradable. All of a sudden, the dollar began dropping and dropping, which eventually took out my day P/L. Luckily, I had a pretty good morning so my losses weren’t bad at all, mostly broke even. I was more surprised of today’s burst of random volatility.
I’m still holding on to some trades, I’m predicting the dollar will bounce back giving a pullback to the pairs that rallied today. There’s also important New Zealand and Canadian news tomorrow dealing with their interest rates. Stay tuned in.