Pipcrawler

Well, we had another disappointing trade last night as our downtrend hopes were quickly reversed during the euro and US trading sessions. There was slight whipsaw action as our short trade was triggered and then stopped out within the next hour or so. Just a quick note, we saw the US dollar weaken heavily as …

Today’s pick is on the EUR/JPY. The euro has been in a short term slide, but we’ve seen gains against many currencies in the past trading day. Currently, EUR/JPY is trending higher as it approaches the 147.50 level. On the daily chart, this was an area of previous resistance, so it looks like an area …

Today’s trade unfortunately stopped out with good US economic numbers. The overbought conditions I analyzed never saw a relief during the Euro session, possibly due to traders waiting out geopolitical issues and those turning to the US dollar for safety. Both lots stopped out with a loss. Lot 1: -40 pips Lot 2: -40 pips …

The GBP/USD has been in a downtrend due to US dollar strengthening. This morning we saw a nice run up in the pair with good economic numbers out of the UK, but it appears the downtrend is resuming. We look to target the previous low in tonight’s pick, but please be aware of Bank of …

We’ve seen a strong rise in the US dollar recently, mostly due to the crisis in the Middle East, as traders rush to the greenback for safety. Now, as we look at the 1 hour chart on USD/CHF, it seems the US dollar has stalled in its rise, indicating it may be short term overbought. …

Monday: No trade Tuesday: +60 pips Wednesday: +35 pips Thursday: -40 pips Total: +55 pips

It looks like we didn’t get to end the week on a good note. An interest rate hike by the Bank of Japan hasn’t been seen in over six years, so it was hard to predict what would happen. What we saw was whipsaw action in the time leading up to the rate decision and …

Tonight we have the long awaited interest rate decision by the Bank of Japan at 1:00 am EST. It’s been almost seven years since the Zero Interest Rate Policy has been in place, so we could possibly see a monumental move in the pair after the release of this decision. Of course, the market has …

Tonight we have the long awaited interest rate decision by the Bank of Japan at 1:00 am EST. It’s been almost seven years since the Zero Interest Rate Policy has been in place, so we could possibly see a monumental move in the pair after the release of this decision. Of course, the market has …

During the Euro session, we saw the GBP/USD gap down after a disappointing employment report in the UK. That brought the pair closer to our short entry trade. The US trade balance report was released with slightly better than expected numbers causing the pair to further decline. Our short entry order was hit and within …