Trade Ideas

After a very frustrating week, we ended up a win in Friday’s pick for USD/JPY. After Fed Chairman Bernanke’s dovish testimony to the Senate on Thursday we saw US dollar selling across the board, which carried over to the European session early the next morning. The US dollar sold off sharply which cause our short …

Monday: -80 pips Tuesday: -60 pips Wednesday: -60 pips Thursday: +80 pips Total: -120 pips Well, we saw a rough week in trading with a crisis in the Middle East, Fed testimonies, and inflation data. Fortunately, our last trade brought us back into positive pips for the month, and hopefully this week we can close …

Monday: -80 pips Tuesday: -60 pips Wednesday: -60 pips Thursday: +80 pips Total: -120 pips Well, we saw a rough week in trading with a crisis in the Middle East, Fed testimonies, and inflation data. Fortunately, our last trade brought us back into positive pips for the month, and hopefully this week we can close …

As predicted we saw the rise in the EUR/JPY, but unfortunately we didn’t see the resistance at the 147.50 level as expected. Our trade quickly turned into a loss as we were stopped out within the next hour. Arrrrgghhhh!!! Let’s just shake it off and focus on the next trade. Lot 1: -30 pips Lot …

It’s been a rough week for my picks, but hopefully we can end the week on a good note. There are no major economic releases out of Japan or the US tomorrow, so I found a low risk setup for a down turn in the USD/JPY. On the hourly chart we see a lower low, …

Well, we had another disappointing trade last night as our downtrend hopes were quickly reversed during the euro and US trading sessions. There was slight whipsaw action as our short trade was triggered and then stopped out within the next hour or so. Just a quick note, we saw the US dollar weaken heavily as …

Today’s pick is on the EUR/JPY. The euro has been in a short term slide, but we’ve seen gains against many currencies in the past trading day. Currently, EUR/JPY is trending higher as it approaches the 147.50 level. On the daily chart, this was an area of previous resistance, so it looks like an area …

Today’s trade unfortunately stopped out with good US economic numbers. The overbought conditions I analyzed never saw a relief during the Euro session, possibly due to traders waiting out geopolitical issues and those turning to the US dollar for safety. Both lots stopped out with a loss. Lot 1: -40 pips Lot 2: -40 pips …

The GBP/USD has been in a downtrend due to US dollar strengthening. This morning we saw a nice run up in the pair with good economic numbers out of the UK, but it appears the downtrend is resuming. We look to target the previous low in tonight’s pick, but please be aware of Bank of …

We’ve seen a strong rise in the US dollar recently, mostly due to the crisis in the Middle East, as traders rush to the greenback for safety. Now, as we look at the 1 hour chart on USD/CHF, it seems the US dollar has stalled in its rise, indicating it may be short term overbought. …

Monday: No trade Tuesday: +60 pips Wednesday: +35 pips Thursday: -40 pips Total: +55 pips

It looks like we didn’t get to end the week on a good note. An interest rate hike by the Bank of Japan hasn’t been seen in over six years, so it was hard to predict what would happen. What we saw was whipsaw action in the time leading up to the rate decision and …

Tonight we have the long awaited interest rate decision by the Bank of Japan at 1:00 am EST. It’s been almost seven years since the Zero Interest Rate Policy has been in place, so we could possibly see a monumental move in the pair after the release of this decision. Of course, the market has …

Tonight we have the long awaited interest rate decision by the Bank of Japan at 1:00 am EST. It’s been almost seven years since the Zero Interest Rate Policy has been in place, so we could possibly see a monumental move in the pair after the release of this decision. Of course, the market has …

During the Euro session, we saw the GBP/USD gap down after a disappointing employment report in the UK. That brought the pair closer to our short entry trade. The US trade balance report was released with slightly better than expected numbers causing the pair to further decline. Our short entry order was hit and within …

In the last few trading sessions, we’ve seen the USD/CAD rise in an impulse wave pattern. This rise is probably due to the dovish comments on future monetary policies from the Bank of Canada and rising strength in the US dollar due to geopolitical reasons. Will the trend continue? I think so, but it may …

Tomorrow morning we have the US Trade Balance report being released at 8:30 am EST. The consensus number is about -64.6 B, but we may see a larger deficit number after hearing that China’s export report was better than expected. So, here are a couple of trade ideas in case we see surprise numbers out …

Well, it looks like the downtrend in USD/JPY never resurfaced so there was no trade triggered. Actually, before the pick was released, the pair did touch the price level, so it was a good thing we didn’t get in that earlier move. So, it looks like traders will be on the sidelines with the Yen …

We’ve seen the Yen gain against many different currencies as traders anticipate that the Bank of Japan will finally raise interest rates from 0% to .25%. It seems that this is being priced into USD/JPY as we speak, but will the trend continue right up to the BoJ statement? Who knows? But from what I …

Our long trade recommendation was triggered early in the Euro session before US trading session opened up. At 8:30 am EST, the NFP report showed a number of 121K new jobs created in the month of June. It was weaker than expected which meant a rocket rise in GBP/USD. Pt1 and pt2 was easily hit …