07:30am   In and out the house today as I’ve 2 cars to take for servicing but if I have any trades I’ll report them here.

Market Update:

With higher highs on U.S. equity markets yesterday caused by weak data (Bad news is good news – remember ?) and overnight the Asian session was also positive so Europe should open up this morning although news out yesterday that the new Greek government may refuse to pay their next debt repayment to the IMF – €750 million that’s due at the end of this week.  Prime Minister Alexis Tsipras was heard to claim yesterday that he cannot see any type of agreement this week with his paymasters without a restructuring of his country’s long-term debt and a straight in/out referendum looks to be on the cards now.  This caused the Euro to drop nearly 130 pips yesterday although it’s still in a bullish trend and the daily chart is showing good signs of another move up.

As the Euro fell yesterday against the U.S. Dollar there was pressure on crude oil values already and then Saudi Arabia came out with news that they have had the highest monthly oil production for 13 years and exports also exceeding recent highs. This all meant that WTI Crude fell over 25 cents  to nd the day at $60:37 per barrel with UK Brent Crude having a similarly weak day although it is now sitting at a moving average support, gearing up for a possible move up.

Trading Diary:

10:40am   Just waiting for a possible ‘long’ trade on my Brent Crude chart.

11:05am   The Brent Crude price did rise sufficiently a short while ago to trigger a UTB trade so I’m in a ‘long’ position with a 24 pip stop loss.

12:25pm   Off out for a quick lunch now so closed off the Brent position. It came out at +30 pips.

14:00pm  I’ve two Skype calls now and then I shall be out for the rest of the afternoon/early evening.