Pipcrawler

Philly Fed Index came out much stronger than expected at 18.0 versus 4.2 in the previous month. This is not good for our trade so I will close at market at 1.0730 to reduce our loss.

The second half of our position was closed at breakeven this evening. We managed to collect +20 pips from our trade. In retrospect, closing the position earlier would have been the best move. I recognized the move was out of steam, but

With all trading sessions closed except for the US, I have decided to close all open positions and orders at the current market price of 1.0628. It’s a great start to the week and I hope everyone did well on this one!

We saw US CPI, along with a plethora of other US data, go by and USD/CHF pretty much went no where. The headline CPI read came in at 0.7%, slightly above the 0.6% forecast, and the core number at 0.1% versus 0.2% forecast. We saw more mixed data as

No trade idea at the moment as it the market is looking pretty choppy. While we do have important economic events in the pipe for today, I think we will see limited movement and

Our short entry at 1.9680 was triggered during the European session and was stopped out after the positive US Retail Sales data on a “buy the rumor, sell the news” trade scenario.

Today’s focus will be on GBP/USD and UK interest rates. Cable has taken a beating as of late as the Greenback has rallied on the idea that a strengthening US economy will prevent the Fed from cutting rates. Where to now?

Bullish dollar sentiment remained strong as we saw a push in dollar buying durning the European trading session. Our long orders at 1.2280 was triggered and both profit targets were

The Bank of England’s Monetary Policy Committee kept rates unchanged today. As expected, Cable dropped on the news and temporarily found support at our entry point at 1.9850. But with traders flocking to the dollar on a “flight to safety” response on the North Korea event, the momentum was strong enough to break through.

Our trade was stopped out during the Euro session on an unforeseen event. North Korea launched two shot range missles off its coast today, after which traders flocked to the dollar on as a “flight to safety” response. The dollar rallied and took our trade to the stop out level… doh!!