Recap: Our SL got hit on our EU short for a loss of 50 pips, pretty much balancing out our profit on the AU short (56 pips). Price got very, very chippy yesterday as there was a possible bearish extinction burst on the 04:00 candle (pretty much the inverse of what occurred on the USDCHF chart. Speaking of which, the inverse correlation between EU and UChf right now is incredibly high if you can come up with a consistent strategy for that :).

We are still long term bearish on the pair as the USD is still the best safe haven currency if the Israel situation blows up, but with the recent volatility the pair has shown and without a clear S/R we will stay flat on this pair for the day.

Today’s Important News Events:

DateTime (UTC)EventForecastPrevious
Nov 21
09:30GBP Bank of England Minutes  
 *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.

Trading Idea: We are long-term bearish if support gets broken but with the recent volatility and no close S/R we will stay flat for the day.

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