Pipcrawler

We’re seeing US dollar strengthening after the foiled terror plots (traders tend to run to the US dollar on terror news) and better than expected US economic data today. Even with good numbers out of Canada, the loonie still gave way to the greenback, a move which was also fueled by lower oil prices. After …

Okay, so my trade idea from last night got blown out of the water! It’s my fault though. I made a mistake I’ve made before, which is I forgot that the FOMC rate decision was at 2:15 pm EST – after the European and Asian traders has stopped trading. So, when the euro trading session …

The big news report tomorrow would have to be the US Trade Balance report. Forecasters are expecting a higher deficit because of higher export prices, due to a stronger greenback, and higher oil prices; so we should see a drop in the USD/CHF tomorrow. In will have a short trade idea in case this scenario …

Tonight’s pick is on the AUD/USD. As you can see on the one hour chart, the pair has found the 0.7600 level as an area of support, but are we seeing a break of that level now? Well, we’ve seen Australian Business and Consumer confidence reports dropping in recent months showing signs of weakness. Add …

After the FOMC report we saw some whipsaw action in the US dollar across the board. First, it sold off, then traders went long the greenback after comments by the FOMC that left the door for possible future rate hikes. With all of this action we still didn’t see a strong enough movement to trigger …

Big story of the week is going to be tomorrow at 2:15 pm EST when the FOMC releases their decision on interest rates. It seems like all have been hearing from “experts” lately is that the Fed will pause, and possibly leave the door open for future hikes. The alternate scenario would be a rate …

Monday: +20 pips Tuesday: No trade Wednesday: +15 pips Thursday: +140 pips Total: +175 pips

Non-Farm Payroll came out lower than expected at 113K versus the consensus of 150K. As a result there was a broad based US dollar sold off, and massive pip movement in GBP/USD. Actually, there was a USD selling before the report, so I had a great feeling we would collect pips that morning! We collected …

The ECB hiked rates as expected, but the market reaction was pretty weak. Regardless, the pair moved higher and we saw our long entry order trigger. Pt1 was easily hit for +15 pips, but the pair move back and closed the second lot at break even. We didn’t get max profit, but came out a …

It was a nice little surprise from the Bank of England this morning – a quarter point raise to 4.75%! Wish they told me about that one, wouldn’t that be nice? =) Well, as we can see the pair is back into consolidation mode as traders await that monthly crazy US report called Non-Farm Payroll! …