June 2007 Monthly Archive

Pick of the Day: EUR/USD – Stopped Out

Our trade stopped out ahead of the FOMC statement as market players bought USD and sold Euros. USD buying continued as the Fed held rates at 5.25% and as their statement indicates Read more

Pick of the Day: USD/CHF

It’s been a quiet week so far for USD/CHF as we saw little reaction on US housing data, but that may change later today with the US Durable Goods reports. Right now, the main market theme is Read more

Pick of the Day: USD/CAD – Close Trade

Philly Fed Index came out much stronger than expected at 18.0 versus 4.2 in the previous month. This is not good for our trade so I will close at market at 1.0730 to reduce our loss. Read more

Pick of the Day: GBP/USD – Trade Closed

The second half of our position was closed at breakeven this evening. We managed to collect +20 pips from our trade. In retrospect, closing the position earlier would have been the best move. I recognized the move was out of steam, but Read more

Pick of the Day: USD/CAD – Close Open Trades…

With all trading sessions closed except for the US, I have decided to close all open positions and orders at the current market price of 1.0628. It’s a great start to the week and I hope everyone did well on this one! Read more

Pick of the Day: USD/CHF – Close Open Orders

We saw US CPI, along with a plethora of other US data, go by and USD/CHF pretty much went no where. The headline CPI read came in at 0.7%, slightly above the 0.6% forecast, and the core number at 0.1% versus 0.2% forecast. We saw more mixed data as Read more

Pick of the Day: None

No trade idea at the moment as it the market is looking pretty choppy. While we do have important economic events in the pipe for today, I think we will see limited movement and Read more

Pick of the Day: GBP/USD – Stopped Out

Our short entry at 1.9680 was triggered during the European session and was stopped out after the positive US Retail Sales data on a “buy the rumor, sell the news” trade scenario. Read more

Pick of the Day: GBP/USD

Today’s focus will be on GBP/USD and UK interest rates. Cable has taken a beating as of late as the Greenback has rallied on the idea that a strengthening US economy will prevent the Fed from cutting rates. Where to now? Read more

Pick of the Day: USD/CHF – Trade Closed

Bullish dollar sentiment remained strong as we saw a push in dollar buying durning the European trading session. Our long orders at 1.2280 was triggered and both profit targets were Read more

Pick of the Day: GBP/USD – Trade Closed

The Bank of England’s Monetary Policy Committee kept rates unchanged today. As expected, Cable dropped on the news and temporarily found support at our entry point at 1.9850. But with traders flocking to the dollar on a “flight to safety” response on the North Korea event, the momentum was strong enough to break through. Read more

Pick of the Day: EUR/USD – Closed Trade

Our trade was stopped out during the Euro session on an unforeseen event. North Korea launched two shot range missles off its coast today, after which traders flocked to the dollar on as a “flight to safety” response. The dollar rallied and took our trade to the stop out level… doh!! Read more

Pick of the Day: None

It looks like we’re going to start off the month of June with a couple of monster reports out of the US: Core PCE and US Jobs Data. We see US jobs data the first Friday of every month. This is the one report that can cause Read more