Pipcrawler

With Durable Goods Orders coming out weaker than expected, the momentum to the downside looks very strong in USD/JPY. We were triggered on both long orders already, so I will close all open positions to avoid the risk of further selling

Good Morning! Hope everyone had a great weekend! Tonight we will take a look at GBP/USD. Yesterday we saw the US New Home Sales numbers came out weaker than expected at 0.85M versus the forecast of 0.99M. This further enforces the

March Pip Count…

I thought I’d start sharing my thoughts and promote books that I think would be great for newbies to check out. I’d like to kick off this new feature by sharing a book I picked up today by Rob Booker called

Good morning! We’re about to see US Existing Home Sales report released at 10:00 am EST, with a consensus of about 6.260 million. We saw a rise in January and December, but because of the colder weather some parts of the country experienced in February I think we will

No pick tonight. Nothing is really jumping out at me now as far as chart setups. I will take a look again later today ahead of the US Existing Home Sales report and hopefully we can find something good. Stay tuned!

We have a nice little forming on the 4 hour chart for USD/JPY with upward resistance at 118.00. Even with the decline in the Greenback today, I agree with the price action and see this pair rising in the medium term. With the Bank of Japan holding off on interest rate hikes, carry trade interest should continue to resume.

The Federal Open Market Committee kept interest rates at 5.25% today and followed up with hawkish commentary with concerns on inflation. Now, you would think this would push the Greenback up, but we saw a broad based USD selloff as soon as the news was released.

Ever since the Euro trading session, the pair has failed to stay above the 1.6140 mark, telling me that sellers are there to stay for now. Swiss PPI came in higher than expected at 0.3% versus the forecast of 0.1% and German PPI came inline at 0.3% with consensus. I still see this pair heading

We saw the Yen weaken during the early morning Asian trading session as BoJ Governor Fukui comments that the BoJ is in no rush to raise rates. So, the second half of our trade is stopped out at 155.25 for another +50 pips.