Monday 12 August

Following a fascinating weekend at an elephant nature reserve, I've arrived at the charts today to see that with no data releases of note, the 'risk recovery' tentatively continues. And short JPY or CHF trades appear inviting when a stop loss can be placed behind a 1hr swing.

The risk to any trade would be caution ahead of wednesday's US CPI data or the re-emerging middle east tensions.

As I am still in an Asian timezone with an early ferry to catch in the morning, it's approaching my bed time, so my personal decision is to wait until tomorrow. And if sentiment remains positive and 1hr support has formed on the JPY and CHF charts, I'll have a fresh decision of whether to place a trade or wait until Wednesday's CPI release.

Feel free to email any thoughts or questions: johnelfedforexblog@gmail.com