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Slow Wednesday Morning Briefing

Slow Wednesday Morning Briefing

by The MoleAugust 7, 2013

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Except for the Yen it’s pretty slow out there this morning. The EUR/JPY cross is facing a sharply falling 25-h and an hourly NLBL right now. I’m currently short but would be long above 129.5.

The GBP/JPY benefitted from the British quarterly inflation report but after a sharp spike higher it fell apart at the 100-hour SMA. I’m currently seeing the possibility of an hourly RTV-Sell but it would have to trigger before 9:00am EDT.

By the way – unless your system enjoys volatility be out of any discretionary AUD or JPY related trades by tonight. Otherwise your stops may be touched during the BOJ interest rate decision or the Ozzi employment rate report. Judging by the Convict’s absence we can expect it to underwhelm 😉

Sugar – back kissing its 25-hour again. It’s been observing it nicely as of late, so let’s see if that downward trend continues.

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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