Trade Ideas

Hello everyone! Looks like it has been a wild ride for our AUD/USD position as we saw the RBA keep rates at 6.25% last night. This sent AUD/USD down to trigger our long orders at .8100. Unfortunately, the sell of on the news triggered a stop out on half of our position, but

Just a quick stop adjustment on our open USD/CHF position that was left open from Tuesday. We have ISM services coming up in a few minutes, so we will adjust our stop from 1.2240 to

Tonight we will look at CAD/JPY. We’ve seen a few factors today that may push the pair down to a great buying price to jump in the “Return of the Carry Trade” bonanza we’re seeing today. The bull run in oil took a breather today as tensions in Iran eased as

It looks like fundamentals beat out technicals in our trade today as the bullish dollar sentiment pushed USD/CHF higher and higher through our resistance levels. With consumer data all stronger than expected as well as a strong Chicago PMI number out this morning, we should see the

It looks like the pair failed to follow through the downward spike from earlier this week and stay range bound for the last 2 days. The third portion of our trade was stopped out for additional +10 pips on a spike up during the morning Euro session yesterday.

Our remaining short position reached as low as 1.6150 before reversing back up to our readjust stop at breakeven. This pair has moved within this 50 point range and may continue to do so for the rest of the week with the lack of significant data for the Euro.

With Durable Goods Orders coming out weaker than expected, the momentum to the downside looks very strong in USD/JPY. We were triggered on both long orders already, so I will close all open positions to avoid the risk of further selling

Good Morning! Hope everyone had a great weekend! Tonight we will take a look at GBP/USD. Yesterday we saw the US New Home Sales numbers came out weaker than expected at 0.85M versus the forecast of 0.99M. This further enforces the

March Pip Count…

I thought I’d start sharing my thoughts and promote books that I think would be great for newbies to check out. I’d like to kick off this new feature by sharing a book I picked up today by Rob Booker called

Good morning! We’re about to see US Existing Home Sales report released at 10:00 am EST, with a consensus of about 6.260 million. We saw a rise in January and December, but because of the colder weather some parts of the country experienced in February I think we will

No pick tonight. Nothing is really jumping out at me now as far as chart setups. I will take a look again later today ahead of the US Existing Home Sales report and hopefully we can find something good. Stay tuned!

We have a nice little forming on the 4 hour chart for USD/JPY with upward resistance at 118.00. Even with the decline in the Greenback today, I agree with the price action and see this pair rising in the medium term. With the Bank of Japan holding off on interest rate hikes, carry trade interest should continue to resume.

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