07:25am   Just sent off my daily ‘trading-guidance’ email to subscribers and after a walk along the beach in the early morning sun I shall be here in the study this morning catching up on emails. If I have any trades I will report details here.

Market Update:

Another day of unpredictable moves on equity and foreign exchange markets today as Greece moves towards default as it misses its loan payment of €1.5billion which is due in a few hours time although German and French indices look to be fairly stable at the start of today’s session. A war of words is now starting with Greek Prime Minister Alexis Tsipras blaming the EU for all his problems and saying that his country will not leave the Euro as the contagion will be too great.  The Eurozone has got to hold strong though as if any quarter is given it would signal that Spain and Italy could also try their hand at some anti-austerity moves as well and traders I spoke to on London trading floors are generally of the belief that a Greek exit from the Euro is not such a bad thing as the currency would be a lot calmer without the Mediterranean countries dragging it down.

With all the turmoil in equity markets yesterday, crude oil suffered from this uncertainty and U.S. WTI Crude fell to just over $58 by the close and signs that an Iranian deal is getting close will only increase the current glut in the markets. UK Brent Crude followed suit and fell 98 cents by the close to finish the day at $61:91.  Gold, as expected, rose sharply on the open yesterday on the Greek uncertainty but gradually gave back all those gains throughout the day and ended slightly over $5 up at $1179.90.

Trading Diary:

09:55am    Just waiting to see if the prices rises slightly on my WTI crude chart, if it does it will trigger a trendFX ‘long’ trade.

10:15am   I am now in the above mentioned position, it’s a trendFX strategy-3 set-up with a 27 pip stop loss.

11:40am    Off out for a cycle ride with a neighbour so I’ve closed off my WTI position at +30 pips.

14:10pm   Back from lunch but too nice to spend time indoors watching charts, so that’s it for trading today.