Weekly Review.

I think this will be a short review:

The past couple of weeks were 'weeks of two halves', starting positivley and ending negatively. But it was (almost) one way traffic during the week starting Monday 23 March.

The week began with the market reeling from president Trump's 48 hour deadline for the strait of HORMUZ to be opened. Some well-timed comments from the president during Monday's European session halted the slide and caused a brief spike of positivity. But it wasn't long before IRAN pushed back and it was a one way road of negativity from there. With the USD the main beneficiary as the oil importing countries (including Japan) battle it out for the wooden spoon.

There is a case to say the other benificiary of high oil is the CAD. But Canada has it's own economical issues and whilst USD CAD continues rising, it makes sense to soley stick with USD longs.

Currently, the can has been 'kicked down the road' until April 6. Until we get some genuine positive news I'll expect more of the same. A quick look at AUD USD daily chart shows a lot of empty space to fall into.

But it's a funny old game as Jimmy Greaves used to say and I wouldn't be surprised to wake up to news of a resolution. In which case, they'll be a very swift reversal. But in the meantime, I'll begin the new week with an eye for USD long trades.

On a personal note, it was nice to get back to winning ways after last week's poor show. On Monday, I traded the President's comments long, the trade stopped out once it became evident IRAN wasn't playing ball. It was a bold trade but it's not a trade I regret.

Once the negative rot had set back in, I was back to looking for 'risk off trades'. Of which I placed two, both NZD USD short, one on Thursday and one on Friday. Both trades hit profit.

Hopefully we'll soon get a resolution and actual economic data will play a part again. But until then it's 'as you were'.

Results:

Trade 1: AUD USD -1

Trade 2: NZD USD +1.5

Trade 3: NZD USD +1.5

Total = +2%

Total since start of blog = +56.8% (risking 1% per trade)