Pipcrawler

We have quite a few US economic reports rolling out tomorrow – most notably the US Consumer Price Index reports. I decided to avoid all of that because of the extreme volatility that is potentially created by that report. With inflation being one of the main themes in the US, I believe a lot of …

Well, it looks like Prime Minister Blair may have been misquoted when saying that employment data would come out slightly worse today – it unexpectedly came out better! Unemployment claims were actually down unexpectedly, show signs of strength in the economy. So, the short story is no short trade as expected, but our long trade …

Greetings fellow traders! Tonight’s pick is a simple one is that we’re just going to jump into a short-term, fundamental based trend in USD/JPY. The yen has been creeping higher in value due to speculation that the Chinese will loosen their firm grip on their currency, the yuan. So, with the Japanese Yen being the …

Well, the US trade balance grew to a whopping $68 billion…eh, who cares? Apparently, currency traders don’t! There was a little bit of whipsaw action that brought our short trade to inches from pt1…well, depending on your broker (my account never reached…grrr!)…and we were stopped out. But the good news is that the Greenback strengthened …

We have a battle going in this pair and it’s between the strength of the US Dollar caused by “inflation concerned”/”oil weakening”, versus the “inflation concerned” strength of the Pound. Now, the Greenback has been strengthening across the board this past week, but Cable kicked butt this morning as CPI and RPI came out higher …

It’s rare that we get to see Elliot wave theory played out so perfectly in the markets, so I had no choice but to make this pair my “Pick of the Day” when I saw it. As you can see on the chart, the US dollar has been making steady gains against the Swiss Franc. …

We saw a surprise from Canada this past Friday morning as employment numbers came out worse than expected. This caused a rally and triggered our long trade, in which we were narrowly stopped out. Luckily, US dollar strengthening continued and our trade reached full profitability! Lot 1: +20 pips Lot 2: +50 pips Total: +70 …

Monday: -60 pips Tuesday: +80 pips Wednesday: +100 pips Thursday: +70 pips Total: +190 pips It was a great week as we rode US dollar strengthening and breakouts. +190 pips?? Maybe we should just call it a day for the rest of the month, and go somewhere tropical? How about Aruba? Nahhhhh!! Can’t wait for …

Our pretty little chart formation in GBP/USD turned out to be a winner as the retracement proved to be a great time to jump in short. I drew a Fib extension on the chart to show how a pair can react to it, and as you can see the drop responded to the 1.000 level. …

Well, it’s the last trade of the week, and we’ve done pretty well for the week…+120 pips up until this point. Should we take a break and start the weekend early?? Naaaahhhhh =) Well, I see a breakout opportunity forming in the USD/CAD pair. This is obviously due to traders waiting for the Canadian employment …