Cyclopip

D’oh! I guess I was a little too confident that the pair would keep rising and I should have closed earlier when I had a chance!

Do’h! Instead of dropping like a rock, the pair actually broke up top and rallied towards 76.50!

Doh! The CADJPY did break out… But to the bottom! Looks like risk aversion remains king of the FX markets!

Doh! Looks like the 0.8400 handle was just out of reach as price bounced off a former low. Nevertheless a win’s a win!

After the EURJPY hit my first profit target, it quickly rose to break the rising trend line. Because of this, I decided to close all my remaining position and lock in profits. I could’ve have gotten more, but I don’t feel bad at all. I have broken out of my trading slump and am slowly getting my game face back! Touchdown!

Matching the weak with the strong. That’s what’s this trade is all about. With that said, I’m looking to buy one of the strongest performing currencies this year, the Loonie, and sell one of the weakest, the euro.

Touchdown! I’m back in the game folks! Within hours after touching the 61.8% Fib, the GBPJPY tumbled down all the way to my profit targets. I am glad that I have finally ended my losing streak with this win.

Sadly, euro weakness stemming from Greece and Portugal debt concerns hit the news wires waaaay too soon, causing the EURGBP to fall much earlier than I initially expected. Since my trade idea is now invalidated, think it’s time to close any open orders that I have.

And it finally comes to an end. The pair basically just bounced around in 120 pip range, stopping me out at breakeven.

It looks like a lot of traders picked up the pound when the UK’s annualized inflation rate beat forecast. This was taken by traders as a sign of future rate hikes, which pushed the pound higher.