Trade Ideas

We will close open orders as AUD/USD never made a retracement down to trigger our entry level.

The Federal Open Market Committee kept interest rates at 5.25% today and followed up with hawkish commentary with concerns on inflation. Now, you would think this would push the Greenback up, but we saw a broad based USD selloff as soon as the news was released.

It looks like currency markets are quiet at the moment as traders sit and wait for news to come out later today. EUR/GBP has been trading in a 5 pip range since about 7:00 pm EST yesterday. This is a good sign that we may see a breakout later today, especially with the

Ever since the Euro trading session, the pair has failed to stay above the 1.6140 mark, telling me that sellers are there to stay for now. Swiss PPI came in higher than expected at 0.3% versus the forecast of 0.1% and German PPI came inline at 0.3% with consensus. I still see this pair heading

My idea to short AUD/JPY proved to be wrong as Bank of Japan Governor Fukui’s comments outweighed the Chinese rate hike. The Yen sold off throughout the rest of the Asian and Euro trading session, stopping out our trade along the way. So

We saw the Yen weaken during the early morning Asian trading session as BoJ Governor Fukui comments that the BoJ is in no rush to raise rates. So, the second half of our trade is stopped out at 155.25 for another +50 pips.

CAD/JPY rose and met resistance as expected, but not enough to hit my conservative short entry at 100.10. In light of this, we will cancel all open orders and no trades for the rest of the day. With failure to break 100.00 and stochastics hovering above 75, I think

The second half of our short position was closed out on a stoploss for a minor -15 pips. Combine this with the first half of our position we netted +15 pips for the day!

The Swiss Franc has been on a tear lately, and the Sterling – well let’s just say it hasn’t been so well! Things might change for Cable soon as the UK reported a better than expected Trade Balance number at -6.2B versus the forecast of -7.0B. On the chart

The rest of our position was stopped out at breakeven as the Greenback found momentum to the upside as we near the end of the Euro trading session. It looks like 1.2200 was a pretty good support level for the pair as the pair found a low at 1.2075 before buyers brought the dollar/swiss back above 1.2200.

March Pip Count

Orders did not trigger ahead of the weekend. No Trade

It looks like EUR/CAD is dropping as hoped for, but our short entry was never triggered as the pair came up as high as 1.5524, narrowly missing our short order by about 6 pips. With the Loonie rallying against the Euro and way past the bottom of the channel we will

We’re nearing the end of the trading day for the US trading session and it looks like GBP/USD has been trading in a tighter range than anticipated. It missed our long entry point at 1.9270 several times by hitting around 1.9280 before shooting back up to 1.9300. So, no trade for today and we will

EUR/CHF has been trending downward during the global liquidation and now we’re seeing a retracement. We aren’t expecting any major news events out of Eurozone or Switzerland, so we’re going with a pure technical play as we eye 1.6100 as a major resistance level and a great price to jump in short.

We just saw a lot of data released this morning out of Canada and the US. In Canada, Building Permits rose 11.3% versus the forecast of 2.1%, but traders waited until after the Bank of Canada Interest rate statement before trading. The BoC left rates at 4.25%, after which we saw

Here’s our total for February…

With the whole “Yen carry liquidation” scare, whether it’s real or not, has brought many of the Yen crosses down to what seems like an “extremely” oversold level. This may be a great opportunity to

It has been a hysterical past couple of days in the markets, starting with a 9% drop in the Chinese markets, then a 3% drop in US equities, and in the forex markets we’re seeing the Yen rise on “carry trade liquidation” fears. Now that the panic seems to have subsided, do we jump back in long some of our favorite carry trades? Well, maybe not the yen, but EUR/CHF looks nice!

We saw massive data and money flowing left and right, and unfortunately for our trade, we didn’t see follow through until after the ISM Manufacturing data today. At 08:30 EST, Core PCE, Personal spending, and Personal income all came out dollar positive.