As we await the pomp and circumstance from Washington, do you have a trade in mind?
Are you yanks feeling patriotic for some dollars, or happy to sell them down the river?
Should we all be getting excited about his speech, or will it be a big let down?
I'm fearful that the market might be expecting too much again but it's going to be too volatile to have me trading it. At the end of the day, Trump hasn't got a magic wand to wave and make everything great again, the government will play a huge part, and that's where Trump could fall down in his grand plans. That's down the line though so it's all about today.
Taking a broad look, if something's really going to change the recent dollar trend lower, it's going to take a move back above 118/119. If we fail a test up there even after any positive words from Trump, then the best we'll get is an attempt at consolidation between there and 112.00 area.
USDJPY weekly chart
If that fails then we're heading south and perhaps to the 108/110 area.
I'm going to just sit on my EURUSD longs as I intend to ride out this short-term noise but I might take some further longs for a shorter-term trade if I feel the conditions are right.
So, let us know what your Trump trade will be either before, during or after.
Is it just a gamble to Trade on Trump?
