Cyclopip

We are approaching the end of the trading week and it looks like the rest of the market is already gone for the day, so I’ve decided to take the profits and run! I am going to

Shortly after I posted my thoughts on EUR/JPY, the pair fell hard and fast without looking back. There was no retracement to hit my short orders, and with the pair now trading around

The Euro gained strength across the board in the morning European trading session, bring EUR/GBP up to our adjusted stop and closing our position at .7880 for a profit

Grrrrrrr!! After nearly hitting our first profit target, EUR/CHF rallied this morning as global risk appetite grew on , oil weakness, and short covering.

With the end of the trading week quickly approaching, I have decided to close out my trade to avoid any potential event risk and take profits.

Big day in global markets and we see risk aversion and anti-dollar sentiment priced in ahead of Fed Chairman Bernanke and Treasury Secretary Paulson’s testimony to the US Congress later today.

After our trade idea was posted, EUR/GBP managed to pull back a bit, but not enough to trigger our long orders as the pair found support around .7935. With the market trading just below .8000, I look to

EUR/CHF made another attempt at 1.61 before falling and triggering our long orders at 1.6050. It looks like the play today is risk aversion as

It looks like our entry orders missed the market by a few pips as the pair made a high of about 1.6238 before falling during the morning European trading session.

I have decided to close this trade out today as price action suggests that the market will continue to the push the pair lower. I suspect this is as