Pipcrawler

It looks like risk aversion took over the markets once again as equity markets sell off, carry trades unwind, and traders flock to the Dollar…

After locking in profit on the first half of our position on Friday, the Greenback rallied against the Swissy to close out the remainder of our position at breakeven.

The Bank of England released their Inflation Report earlier this morning showing further inflation concerns and signaling that more rate increases may be necessary.

Our entry order to go long at 1.3745 was triggered a couple hours ahead of the Fed Interest Rate statement. After our entry, the market ranged in between 1.3740 to 1.3750 until

With potentially market moving data coming up later today, most notably Interest Statements for the Eurozone and UK, that will be no “Pick” this evening as we may see small, limited moves ahead of time.

We started August with a small profit as the Greenback continued to rally against the Euro throughout the Asian/Euro trading session.

Today’s Pick isn’t a trade idea…it’s a video! It is absolutely hilarious and shows what could potentially happen to you if a hot chick (or stud) finds out yo single self made it rich as a trader and instantly wants to marry you. Watch out fo’ them pip diggers!

Our trade closed at full profit as the sell off momentum continued at the start of the European trading session.

Cable rallied ahead of the European open to 2.06 before dropping 100 pips as the Greenback rallied against the majors.

After hitting our first profit target this morning, USD/CHF found support and rallied back up to our entry level where we adjusted our stop.