General Market Outlook - May 28th, 2014

Since today didn't pan out the way I expected, I'm posting an updated outlook faster than I normally would. If my current positions are stopped out again, you can expect another outlook posted tomorrow or the day after instead of next week.

- USD strength seen across the board is making it hard for my analysis to pan out.
- Two of my positions got stopped out and I had to switch directions
- Three positions still waiting to see what happens
- One position waiting to be filled

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Interesting Pairs:

AUD/USD - Bullish
- My buy limits at and below the 0.9200 level have yet to be filled, so I'm still waiting
- See previous analysis for reasons

EUR/USD - Bullish
- Still holding my 1.3620 long from yesterday
- Filled some more longs at 1.3600 today based on a new projected trend line (parallel from the top)
- See previous analysis for reasons

USD/CHF - Bearish
- Still holding my 0.8975 shorts from yesterday
- Filled some more shorts at 0.8985 today
- See previous analysis for reasons

USD/JPY - Bearish
- Still holding my shorts with an average price of 101.95
- See previous analysis for reasons

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Developing Pairs:

GBP/USD - Bearish?
- My buy orders filled this morning with an average price of 1.6770 (bought at 1.6760 and 1.6780)
- Got stopped out at 1.6750 = -20 pips
- Switched directions and shorted at 1.6750 and TP'd at 1.6700 = +50 pips
- Currently waiting for a retrace back up to the broken trend line to see if new trend is established or not
- Net Total = -20 + 50 = +30 pips

NZD/USD - Bearish?
- My buy orders filled this morning at 0.8520
- Got stopped out at 0.8510 = -10 pips
- Switched directions and shorted at 0.8510 and TP'd at 0.8500 = +10 pips (purely for the purposes of breaking even). I didn't have a contingency plan for this one considering it was a range play, which is why I didn't hold it longer
- Currently waiting for a retrace back up to the broken support level (0.8520) to see if a new trend is established or not
- Net Total = -10 + 10 = 0 pips

XAG/USD - Bearish
- Looks like markets are pushing down gold and silver today, let's see if the descending triangle finally breaks or not.

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Confusing Pairs:

USD/CAD - No comment

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Reference: General Market Outlook - May 27th, 2014 - Disclosure: All open positions are disclosed above, if I don't mention having one then it should be assumed at all times that I plan to trade based on my analysis, so take this into consideration as I may be biased.