Pipcrawler

The loonie made a fabulous run against the euro in the past few weeks, but in the last few days we’ve seen a correction and weekness in the Canadian dollar. Is it just a correction before a continued drop in the pair, or is it a sign of what’s happening with weak commodities and Canadian …

Monday: -18 pips Tuesday: +75 pips Wednesday: +20 pips Thursday: -40 pips Total: +37 pips It was a little bit of a frustrating week as there weren’t many market moving reports and traders are still unsure on what to do with the greenback.We still managed to grab 37 pips out of the markets…Not bad!This week …

Our AUD/USD trade went against us at the beginning of Friday’s euro session as the pair dropped and found no support at the .7600 level.After the stop out, I continued to watch the pair and notice that the previous support levels are now turning into resistance levels.We may see a new short term downtrend forming, …

As expected, EUR/CAD continued its downtrend, but was interrupted by the German Ifo Business Climate Index numbers. The market was expecting much worse due to the terrible ZEW report earlier this week, but the Index number came out as expected at 105.0 – good for the euro, bad for our trade. Our second lot was …

The AUD/USD has been in range mode for the past few days, making directional trades difficult. Regardless, I still like a long trade on the pair for a few reasons – Stronger commodity prices, much stronger housing numbers our of Australia, and a mixed US dollar as traders await hints from the Fed of future …

I still like a short play on USD/CAD as it seems to drift lower on the one hour chart. Oil prices are back on the rise with geopolitical issues out of the Middle East, which is helping the pair drift lower. I drew a fib extension to help me find possible levels of support and …

It was a snoozer of a day in the AUD/USD market as the pair ranged at about 27 pips since 12 am EST. Just my luck, the top of the day’s range did manage to trigger to long order. Fortunately, I closed out the trade with only a 9 pip loss per lot. Lot 1: …

Last week I had a short play on AUD/USD, but now it’s time to go long again. It seems like dollar bears are on the rise and commodities are making a new run up which makes a long play on AUD/USD very attractive. On the one hour chart, the pair made a run up before …

Monday: No trade Tuesday: +70 pips Wednesday: -60 pips Thursday: No trade Total: +10 pips We saw the possibility of future rate hikes drop significantly in the US after a week of negative US data reports, but the greenback still gained on most of the major currencies. I don’t get it – isn’t the opposite …

In Fridays trade, we saw the pair drift lower as expected, but without any retracement. No trade entered.