Pipcrawler

We closed out the day with a small profit on our initial trade. No other trade ideas at the moment as we are approaching the end of the week.

It looks like we ended the month on a positive note as the Greenback continued to sell off, pushing USD/CHF to our second profit target and close out our trade.

Good Evening! For the last “Pick” of the week will take a look at EUR/USD for a possible resistance play on the horizon.

As expected, we saw a bit of volatility from this morning’s economic reports. Our short entry orders were triggered late in the morning European trading session and fell just enough to

The FOMC decided to cut rates by 25 basis points today and it looks like the “buy the rumor, sell the news” scenario played out as riskier plays sold off right after the report.

EUR/USD fall as hoped on the backs of weak Eurozone retail sales data and a upside surprise in the ADP Nonfarm payroll report. Unfortunately, our orders were not triggered before the move.

Cable retraced during the morning European session and triggered our short position at 2.0650. There was enough volatility to take us down to 2.0600 – our first profit target. Unfortunately..

Looks like our trade stopped out as traders return to risk by buying back into higher yielding assets and carry trades.

Our short position has closed as it looks like carry traders return to the market and sell the Yen all the way to 110.00.

It looks like consolidation did lead to a breakout in EUR/USD, but unfortunately we didn’t catch it as the rallied instead of dropped as hoped for.