Trade Ideas

During the Euro session, EUR/USD came down to about 1.3180 before reversing and shooting back up to about 1.3215. We have US GDP coming up at 08:30 EST, so to avoid event risk we will remove all open orders. Stay tuned for any trade ideas after the GDP report.

We saw a much weaker than expected Durable Goods number drop larger than expected to -7.8%, Consumer Confidence came out at 112.5 vs. consensus of 109.0, and Existing Home Sales came out at rose +3.0% to 6.46 million. So, Durable Goods weaker, and the more closely watched Consumer Confidence and Existing Home Sales data stronger.

EUR/GBP did retrace down, but not quite enough to trigger our long orders – missed it by a few pips. The pair looks like it’s back in uptrend mode as it has risen and currently trading around 0.6715, so we will close open orders.

We just saw a broad based dollar selloff this morning. EUR/USD shot up along with the selloff and triggered our long trade. We hit our pt for 20 pips. Close open short orders. Have a great weekend!

It looks like it was all about the carry trade today as the Yen continued to sell off through out the day against all the of the majors. Our position in EUR/JPY kept going up, but unfortunately, we were short on the pair. So, we were

Looks like there wasn’t any juice in the markets to push the dollar up in the afternoon trading session, especially after the FOMC Meeting Minutes show that the Fed views inflation as a concern, but moderating. So, as per trade rules, we will

Our trade stopped out today as the loonie sold off against all of the majors today. Our short orders were triggered at 1.1675 and 1.1690, and unfortunately, USD/CAD didn’t find resistance until 1.1715. So, we were stopped out on our full trade for a total loss of 45 pips

We have housing and inflation data coming out soon, and these our potentially volatile reports. The market has moved about 50 pips away from our orders, so we will cancel open orders to avoid event risk.

Sorry for the late update. For those of you who took the trade knows that CAD/JPY dropped down to 102.50 and did a little reversal bounce. It was enough to trigger our first profit target, but not enough for the second. After pt1 was hit, the pair dropped and the second half was stopped out at break even.

It looks like the pair was able to break through the 120.00 level as the Greenback weakened against the majors this morning. It looks like USD/JPY found support near 119.50, so from this point we will look for a retracement then go short. Here’s a trade idea:

Just a quick update on our short trade in AUD/USD. I’m still short in this position and I will keep it open as a still believe this pair is going down. Stochastics are still in the overbought area and starting to turn lower. Our order to short at 0.7850 was missed by 3 pips, so close

We reached full profitability as the second half of our short USD/CAD reached 1.1680. Dollar sentiment was bearish today as we saw the US trade gap rose to $61.2B in Dec – worse than the market was expecting. This was mostly due to a widening oil trade deficit as oil prices rose slightly from November to December.

Here’s a technical play on GBP/JPY. We seen lower highs on the 4hr chart and resistance at 235.35, which the pair is currently trading above. This is forming a descending triangle, in which i think is coming close to completion before we see a breakout. It’s not ready for a breakout yet, but I think the pair will continue to find support at 235.35 and rally from there.

We’ve held onto this trade for a while, and obviously it hasn’t done much in the past few days especially with the lack of data today. So, we will close this trade at 1.6240 for a small 10 pip profit and move on to the next opportunity.

As the market expected, there was no rate hike from the ECB this morning, but there were a few changes in Trichet’s speech afterwards. We saw the return of “strong viligance” and other hawkish rhetoric such as the “ECB still needs to act in a firm and timely manner.”

Our trade was stopped out as the Euro gained strength across all of the majors throughout the day, including the Yen. We were short a full position at a blended price of 156.65 and stopped out at 156.90. It’s a good thing we kept it tight because

There just wasn’t much action, especially with the mix of positive and negative US reports. Nonfarm productivity rose, while Unit Labor Costs and Consumer Credit came out weaker. So, it’s almost near the end of the trading session and

Our long position in EUR/CHF ran up as high as 1.6117 before dropping in during the afternoon US trading session on Swissy strength. As per trade rules, I closed our position at 1.6095 for a miniscule -5 pip loss on half our normal position size.

The second half of our trade closed yesterday at the adjusted price of 1.5330 and we locked in another +45 pips in the process. It’s a shame that we did get stopped out because the pair eventually hit the

Our first short order triggered during the Euro trading session and reached profitability for +30 pips. Our second trade order was triggered as well. Stochastics look to be in the oversold area, so with the current market price at .6815 I will close