If you are remotely thinking about buying the dip in crypto, the link attached above will remind you why you shouldn’t (yet)

Again, listen to the FED, not to the average “up only” crypto guru out there, stay objective, understand the macro environment, follow the right minds, and don’t FOMO, the FED is far from pivoting away from the aggressive tightening monetary policy, don’t fight them

EURGBP 0.86000 target achieved…

Classy monetary policy divergence trade, we expect this to continue higher towards 0.87000 but it may need a deeper pullback and the right catalyst (possibly the next ECB meeting) to ignite the next bullish leg, don’t FOMO at the highs, for the time being, 0.86000 target achieved

NZDCAD target 0.80200…

Expecting the technical lows at 0.80200 on NZDCAD to be taken out sooner than later, keep it smart

Quick stop loss for us on NZDCAD as it breaks the previous structure highs, still thinking the technical lows at 0.80200 get tapped sooner than later, but for the time being we take the stop loss, stay disciplined

Remember, while QT has been officially formalized back in early May, it hasn’t even started yet, keep that in mind when you hear the average crypto guru telling you to buy the dip, don’t FOMO at every minor push (pullback) higher, the FED is far from pivoting, have a great weekend everybody

Expecting EURGBP upside towards 0.87000…

Two things to watch for this trade, the ECB about to hike rates and also purposefully encourage a stronger EUR to tamp down inflation, while the BoE about to pause rate hikes as the UK likely heads into recession, classic monetary policy divergence in the making between the two, don’t overthink it

The first EURGBP longs on this theme hit target (0.86000) a couple of weeks ago, now after an expected pullback it’s getting ready for the next leg higher, we are bullish EURGBP on pullbacks with target 0.87000, keep it smart

June 9 (ECB rate decision) and June 16 (BoE rate decision) will be the two catalysts for EURGBP to gain some momentum to the upside, remember the market needs the right catalyst for the right moves to unfold, in the meantime... patience is a virtue

Thank you for all the interest that we receive for the Private Network every day, we have been quietly filling in the background all the extra seats every month, so thank you for all the interest, if you like what we do here and you want to follow more of our trades and hear from us more consistently, you can always book a seat @JayRally

Here’s what traders say about us:

https://www.trustpilot.com/review/besomebodyfx.com

Now eyes on EURGBP which is gaining some momentum to the upside, the ECB next week is the right catalyst for a good bout of volatility, have a great weekend everybody

RBA rate decision coming up, which creates a short term opportunity for AUDNZD longs…

Markets’ consensus is for a 25bps hike, BUT we see an opportunity leaning in favor of a larger 40bps rate hike given the recent acceleration in Aussie's inflation readings

Long story short, if the RBA as we expect delivers a 40bps rate hike, then expect AUDNZD to jump noticeably, hence we see it worth some AUDNZD long exposure into the event and we are positioning accordingly

And a 50bps hike from the RBA it is, surprising even our above consensus expectations…

The AUDNZD move was a little smaller than what we anticipated but we expect AUDNZD to gain momentum and hit the “50bps hike” target over the upcoming days

EURGBP lacking momentum but the reasons for upside are still there in place, yesterday’s ECB subtly kept the door open for a potential 50bps hike in September, now it’s the BoE's turn to tell its story on June 16, have a great weekend everybody

EURGBP target zone reached…

Another classy monetary policy divergence trade with the ECB getting ready for rate hikes while the BoE on the other side begins to slow down their tightening path, thus creating a tradable divergence between the two where the EUR outperforms the GBP, basic monetary policy, the rest is just patience and discipline to stick with the plan

Trade less, trade smart

EURUSD longs potential target 1.07000…

Well against the macro trend, but we see a scenario where the Dollar pulls back over the next week or so with a potential upside target on EURUSD at 1.07000

There’s little to no catalyst for Dollar bulls to get excited in the short term and there's plenty of FED tightening priced in already, so it would make sense to see some short term rebalancing with a modest pullback in the USD macro trend, just a pullback tho, the FED is still going to deliver another 75bps hike at their next FOMC

Flat on EURUSD, dipped into the buying zone, had a nice run up to 1.06000 but failed right there, not the kind of price action we want to see, European PMIs also took a dump earlier so there are little reasons to stay long EURUSD at the moment, the trade overall could still work but lower conviction

The next detailed update on crypto will be up on Friday for the new quarter, and no, it’s still NOT bullish yet

The objective, rational, and logical macro picture for the crypto market for the new quarter

Don’t listen to the “up only” crypto guru, listen to the macro environment, have a great weekend everybody

Short USDJPY to 130.000…

From reflation to deflation, the markets are quickly moving from the former to the latter, look across the board, notice OIL, US yields, and commodities, all down substantially from their highs, those are deflation and recession concerns creeping in as growth is slowing down remarkably across the world, we expect those flows to spill over to FX going forward with decent JPY strength over a medium term time horizon

We are looking for JPY longs across the board, with particular attention to USDJPY shorts, we target 130.000 over the medium term with short term adjustments along the way

With Friday’s strong NFP yields bounced and USDJPY went for the upside break of the technical structure, so we took a tiny loss on Friday and now waiting for higher timeframe price action before engaging with shorts again

Keep it tight, picking tops is obviously never too straightforward but the risk reward is always attractive, monitoring Wednesday’s CPI as the next potential trigger

Deflation? clearly not yet, the most recent CPI is yet another surprise higher, 100bps hike on the table at the next FOMC, with these developments we are NOT looking for USDJPY shorts any longer, keep it flexible and don’t fight the FED, they are going to get even more aggressive