Pipcrawler

Tomorrow morning we will see the US Gross Domestic Product quarterly report and GDP deflator released at 8:30 am EST. These are the economy’s broadest measure of health and inflation, and they have significant market moving potential if we see surprise numbers. Also, at 9:45 am EST, US consumer confidence report will be released. So, …

It’s been a wild ride for the US dollar recently – first it goes up, then the next minute it’s dropping like a rock! Can the market please make up its collective mind?! Hehe Well, for tonight’s pick, we’re going to take a look at USD/CHF. This pair has been has been on a wild …

The market was expecting lower numbers out of the US reports today, so what happens? Numbers were better than expected(even an upward revision of the previous existing home sales report) and the US dollar takes a nice ride to the upside! So, we didn’t a short entry at all. It’s been a tough market, so …

It’s a pretty dead market right now with no significant news reports set to be released. Also, there weren’t any chart patterns that stood out to me on any of the pairs, so no pick of the day this evening. Don’t want to force a trade when there aren’t any potentially profitable ones in sight. …

For today’s pick we are focusing on the USD/JPY pair. On the one hour chart it looks like the pair is in a corrective three wave pattern, with it possibly continuing further to the downside. Now, we do have US economic reports coming out in the form of Consumer confidence and existing home sales at …

After a very frustrating week, we ended up a win in Friday’s pick for USD/JPY. After Fed Chairman Bernanke’s dovish testimony to the Senate on Thursday we saw US dollar selling across the board, which carried over to the European session early the next morning. The US dollar sold off sharply which cause our short …

Monday: -80 pips Tuesday: -60 pips Wednesday: -60 pips Thursday: +80 pips Total: -120 pips Well, we saw a rough week in trading with a crisis in the Middle East, Fed testimonies, and inflation data. Fortunately, our last trade brought us back into positive pips for the month, and hopefully this week we can close …

Monday: -80 pips Tuesday: -60 pips Wednesday: -60 pips Thursday: +80 pips Total: -120 pips Well, we saw a rough week in trading with a crisis in the Middle East, Fed testimonies, and inflation data. Fortunately, our last trade brought us back into positive pips for the month, and hopefully this week we can close …

As predicted we saw the rise in the EUR/JPY, but unfortunately we didn’t see the resistance at the 147.50 level as expected. Our trade quickly turned into a loss as we were stopped out within the next hour. Arrrrgghhhh!!! Let’s just shake it off and focus on the next trade. Lot 1: -30 pips Lot …

It’s been a rough week for my picks, but hopefully we can end the week on a good note. There are no major economic releases out of Japan or the US tomorrow, so I found a low risk setup for a down turn in the USD/JPY. On the hourly chart we see a lower low, …