Pipcrawler

And the choppiness continues! There was no follow through to the downside after a nice break of the falling triangle and major support area.

Well, that trade didn’t last too long as volatility continued to push Cable down and up during today’s Asia and European trading session.

USDJPY ultimately did not move my way this time as the pair touched the top of the falling channel, dropped and narrowly hit my first profit target before rallying. The rally was enough to break the upper end of the channel and move to my stop.

Good morning! With the Bank of England interest rate decision quickly approaching, I have decided to lock in profits to avoid event risk.

A combination of better than expected European Bank stress test results on Friday and today’s better than expected US New Home Sales brought risk tolerance back to the markets at the start of this trading week. This meant a broad US Dollar sell off and a rally in EURUSD.

As expected, UK CPI data brought in volatility to Cable, eventually pushing the pair higher to my entry level. Unfortunately, weak US data and and positive corporate earnings sparks a demand for “risk” at the beginning of the US trading session.

Good afternoon! It looks like I didn’t get the retracement I was looking for to go long EURUSD as traders came back from barbeque and fireworks ready to buy! Is it too late to buy??

Wowzers! I went to bed with a nice gain on my trade only to wake up with a nice punch in the face from the FX markets. Has the “Risk”-to-US Dollar relationship changed?

It looks like I couldn’t catch a break on this trade as it seem traders took the proposed austerity measures in the UK as a good sign to buy up British Pounds

Good afternoon! My remaining position in Cable closed at 1.4620 for a profit during yesterday’s return to positive sentiment towards global growth.