Trade Ideas

Big story of the week is going to be tomorrow at 2:15 pm EST when the FOMC releases their decision on interest rates. It seems like all have been hearing from “experts” lately is that the Fed will pause, and possibly leave the door open for future hikes. The alternate scenario would be a rate …

Monday: +20 pips Tuesday: No trade Wednesday: +15 pips Thursday: +140 pips Total: +175 pips

Non-Farm Payroll came out lower than expected at 113K versus the consensus of 150K. As a result there was a broad based US dollar sold off, and massive pip movement in GBP/USD. Actually, there was a USD selling before the report, so I had a great feeling we would collect pips that morning! We collected …

The ECB hiked rates as expected, but the market reaction was pretty weak. Regardless, the pair moved higher and we saw our long entry order trigger. Pt1 was easily hit for +15 pips, but the pair move back and closed the second lot at break even. We didn’t get max profit, but came out a …

It was a nice little surprise from the Bank of England this morning – a quarter point raise to 4.75%! Wish they told me about that one, wouldn’t that be nice? =) Well, as we can see the pair is back into consolidation mode as traders await that monthly crazy US report called Non-Farm Payroll! …

The markets remain silent throughout most of the Euro trading session, with a little bit of volatility during the Euro/US session overlap. The volatility wasn’t enough to push the pair down to our short entry order. In hindsight, I should have placed a short entry in the 147.00 price area as the pair found resistance …

I still like a short play for the simple fact that we have a rate hike decision from the ECB tomorrow morning at 7:45 am EST. A short entry order??? Aren’t you supposed to go long on a currency when interest rates are raised. Well, I’m looking to go short for two reasons: After the …

We saw the greenback spike up after the US economic reports were released, most notably the PCE y/y coming out with a slightly higher number. The pair actually rose up and triggered our long entry order an hour or so before the reports. Unfortunately, the US dollar sold off a few hours later on fears …

Not much going on tomorrow in the way of economic reports except for the E-12 monthly PPI report. The Producer Price Index measures the inflation felt by manufacturers. So, we may see some movement after the report which will be released 5:00 am EST. Consensus is expecting a lower number of 0.2% versus 0.3% in …

The USD/CAD pair has been in a short term downtrend which is pretty easy to see on the hourly chart. We’ve see strong moves in this pair, with the most recent move after the Canadian GDP monthly number coming lower than expected. The pair is consolidating now, waiting for its next catalyst, but what could …

July 3 – July 7 +93 pips July 10 – July 14 +55 pips July 17 – July 21 -120 pips July 24 – July 28 -10 pips July Total: +18 pips We had a great start to July as we easily ran up to a high of about +168 pips, but we had a …

Monday: No entry Tuesday: +30 pips Wednesday: No pick Thursday: -40 pips Total: -10 pips

It looks like we closed out the week with a loss gosh darn it! GDP came out with lower than expected numbers which caused a sell off in the US dollar. The pair rose, and at the end of the move triggered our long entry order. Unfortunately, that was the end of the move and …

We saw a broad US dollar sell off against many currencies, including the Swissy, at the beginning of the Euro trading session. Pt1 was easily hit, but with good number for Durable goods orders the market spiked back up to close out our second lot at breakeven before dropping back down again after disappointing new …

We saw US Existing Home sales coming in pretty much in line with consensus numbers, so we didn’t see a decline. The pair never reached down far enough to trigger our entry orders. No trade.

Tomorrow morning we will see the US Gross Domestic Product quarterly report and GDP deflator released at 8:30 am EST. These are the economy’s broadest measure of health and inflation, and they have significant market moving potential if we see surprise numbers. Also, at 9:45 am EST, US consumer confidence report will be released. So, …

It’s been a wild ride for the US dollar recently – first it goes up, then the next minute it’s dropping like a rock! Can the market please make up its collective mind?! Hehe Well, for tonight’s pick, we’re going to take a look at USD/CHF. This pair has been has been on a wild …

The market was expecting lower numbers out of the US reports today, so what happens? Numbers were better than expected(even an upward revision of the previous existing home sales report) and the US dollar takes a nice ride to the upside! So, we didn’t a short entry at all. It’s been a tough market, so …

It’s a pretty dead market right now with no significant news reports set to be released. Also, there weren’t any chart patterns that stood out to me on any of the pairs, so no pick of the day this evening. Don’t want to force a trade when there aren’t any potentially profitable ones in sight. …

For today’s pick we are focusing on the USD/JPY pair. On the one hour chart it looks like the pair is in a corrective three wave pattern, with it possibly continuing further to the downside. Now, we do have US economic reports coming out in the form of Consumer confidence and existing home sales at …