The FXC Macro Tomitrader EA continues to work well, with our short Gold strategy continuing to provide decent returns for us.
We still also have the long US$Chf position although it seems rather too hampered by any safe haven demand and it may be better to utilise a short EurUsd strategy instead.
We intend to cut our short EurGbp bias and to replace this with another cross, short NzdJpy, which has already been implemented. The RBNZ would like a lower currency – and we also prefer to be long Jpy, once again, because safe haven demand seems to stand in the way of any major upside move from here. A bearish bias in stocks, the ongoing threat of a trade war and a neutral bias in the US bond markets would also seem to favour the Jpy. From a technical point of view, the long term charts seem to suggest that the cross may be about to break lower.
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NzdJpy – A monthly Ichimoku, suggesting a break below the cloud and the 100 Month MA