Pipcrawler

During the Euro session, EUR/USD came down to about 1.3180 before reversing and shooting back up to about 1.3215. We have US GDP coming up at 08:30 EST, so to avoid event risk we will remove all open orders. Stay tuned for any trade ideas after the GDP report.

We saw a much weaker than expected Durable Goods number drop larger than expected to -7.8%, Consumer Confidence came out at 112.5 vs. consensus of 109.0, and Existing Home Sales came out at rose +3.0% to 6.46 million. So, Durable Goods weaker, and the more closely watched Consumer Confidence and Existing Home Sales data stronger.

We just saw a broad based dollar selloff this morning. EUR/USD shot up along with the selloff and triggered our long trade. We hit our pt for 20 pips. Close open short orders. Have a great weekend!

It looks like it was all about the carry trade today as the Yen continued to sell off through out the day against all the of the majors. Our position in EUR/JPY kept going up, but unfortunately, we were short on the pair. So, we were

Looks like there wasn’t any juice in the markets to push the dollar up in the afternoon trading session, especially after the FOMC Meeting Minutes show that the Fed views inflation as a concern, but moderating. So, as per trade rules, we will

Our trade stopped out today as the loonie sold off against all of the majors today. Our short orders were triggered at 1.1675 and 1.1690, and unfortunately, USD/CAD didn’t find resistance until 1.1715. So, we were stopped out on our full trade for a total loss of 45 pips

We have housing and inflation data coming out soon, and these our potentially volatile reports. The market has moved about 50 pips away from our orders, so we will cancel open orders to avoid event risk.

It looks like the pair was able to break through the 120.00 level as the Greenback weakened against the majors this morning. It looks like USD/JPY found support near 119.50, so from this point we will look for a retracement then go short. Here’s a trade idea:

Just a quick update on our short trade in AUD/USD. I’m still short in this position and I will keep it open as a still believe this pair is going down. Stochastics are still in the overbought area and starting to turn lower. Our order to short at 0.7850 was missed by 3 pips, so close

We reached full profitability as the second half of our short USD/CAD reached 1.1680. Dollar sentiment was bearish today as we saw the US trade gap rose to $61.2B in Dec – worse than the market was expecting. This was mostly due to a widening oil trade deficit as oil prices rose slightly from November to December.