Pick of the Day: USD/JPY - Close Trade
With a slight rise in Initial Claims and a very weak Philly Fed number, USD/JPY fell to the bottom of the range and triggered our long order at 107.60. It's the end of the Euro/US overlap and … More…
About Pick of the Day
At the end of each trading day, I will find what I believe is the best looking short term trade setup for the upcoming trading day. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. Trades will be posted by 1 am ET, Monday through Thursday evening.
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February 2008 Monthly Archive
Pick of the Day: GBP/USD - Close Trade
Regardless of weak UK economic data, Cable rallied high on a broad based USD sell off and hawkish inflation comments from Bank of England officials. Further, buying support is evident even after… More…
Pick of the Day: "The Currency Spot"
No "Pick" today with US CPI coming out this morning. It is one of the very few major economic reports this week, so volatility may be a little bit more unpredictable after its release. I did want to mention our new...… More…
Pick of the Day: EUR/USD - Close Open Orders
It looks like buyers were not going to wait for a retracement back to the trendline before jumping in as EUR/USD found a strong bid during the Asian trading session and rallied almost...… More…
Pick of the Day: EUR/USD - Close Open Orders
The US trading session is almost done, and it looks like our long entry was missed a couple times by 10 pips or less. So, no trade today and we will… More…
Pick of the Day: GBP/USD - Close Trade
Since my last update, Cable has moved back lower below our short entry price, but not by much. With UK event risk coming up, I'd like to… More…
Pick of the Day: USD/JPY - Close Trade
It has been a slow day for the USD/JPY, and with the weekend quickly approaching, I'm going to close out our position at break even.… More…
Pick of the Day: EUR/USD - Trade Closed
The remaining portion of our trade closed out Friday afternoon as the pair retraced back to our entry point.… More…
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