09:55am CET (08:55 UK time)  I’ve a busy day ahead with various errands that have come up but if I do have time to do some chart watching I will post details below of any trades I take through the day.

Market Update:

Markets around the world are on alert after the latest Fed meeting minutes released last night shows a growing consensus for possible rate rise as early as June although astute traders have already realised that the next FOMC meeting is just before the UK EU referendum so it is unlikely that Federal Reserve members will vote for a rise without knowing whether Britain is staying within the European Union.  In recent months the likelihood of a rate rise before the summer has largely been dismissed and this is also worrying the Fed as a ‘shock’ announcement in June  will upset global markets, so yesterday’s minutes are also seen as preparing traders for the possibility of a slight rise – interesting times ahead !

The overnight Asian market was mixed with only the Japanese Nikkei 225 index coming out ahead (+2 points) and this pessimism has continued this morning across Europe with the German Dax-30 fairing worst at -40 pips down so far. The crude oil market is looking more bearish this morning after the weekly  U.S. Crude Oil Inventories released yesterday showed a rise in stock levels and this coupled with increasing output from Saudi Arabia and Iran has pushed WTI Crude back towards the $47:95 level this morning from a high of $48:91 yesterday lunchtime.

Trading Diary:

10:00am CET   Just had a quick glance at my usual charts and there could be a ‘short’ Gold trade about to trigger – more details soon

10:10am CET   I am now in the aforementioned Gold position, it’s a trendFX strategy-1 set-up with a 22 pip stop loss.

10:25am CET     Off for cycle ride with neighbour. Set target at+22 pips.

12:30pm CET     My Gold trade is still active and has not quite hit its target yet although it has come close. Going to lunch now so leaving stop loss and profit target as they are.

16:00pm CET    Just returned back from lunch and seen that my earlier Gold trade reached its target a few hours ago (+22 pips).  That’s it for trading today and probably this week, back to my charts next Tuesday when I’m back in the UK.

I hope you have a nice relaxing weekend break.