Monday 00.15 gmt
This week has started with the Cyprus saga still dominating. This in itself is a fluid, fast-moving event, with too many players shooting off their mouths, rumours flying around, etc. We also have important US data later this week in the form of Durable Goods orders, US consumer confidence and US GDP. Added to that this is a short week due to the Easter weekend so we will have reduced liquidity from flows.
Considering all this, I am planning to only observe the markets and will not trade anything unless I see a very low risk potential trade. Long USDJPY is looking like a good candidate for a trade, but I am holding back for now, since this is Monday morning Asia time. What Asia does on Monday, Europe usually reverses.
I may miss some opportunities, but in the markets the next opportunity, like the next bus, is just round the corner.