Trade Ideas

After a strong move in GBP/USD for the last day or so, the pair is now in consolidation mode – it’s now trading in a 20 pip range, approximately. Now traders are potentially waiting for the numbers out of the UK at 4:30 am EST, and in these types of situations I like to play …

Last week I had a short play on EUR/JPY that didn’t pan out too well. In hindsight, it was definitely a good idea to go short, but on a longer term basis with a wider stop. So, we’re going to jump back into this pair, hoping we’re getting in at the beginning of a larger …

Aug 1 – Aug 3 +165 pips Aug 8 – Aug 11 -65 pips Aug 15 – Aug 18 +10 pips Aug 22 – Aug 25 +37 pips Aug 29 – Aug 31 -20 pips Total August: +127 pips

In my last pick, we saw the euro quickly rise against the yen, and there was no stopping it! Our short trade was triggered, and we were so close to pt1, but the pair reversed and continued its long term trend. We got closed out at a loss of -20 pips per lot. Grrr!! Lot …

Tomorrow we have the US Non-Farm Payroll report coming out. I usually do give a pick for that trade with a strong warning against trading that report…now I’m just not going to trade it. The market right after that report moves way too fast to get any kind of acceptable execution, even with entry orders. …

pt1, but narrowly missed pt2 before it rose back up and our second lot we closed at break even. There wasn’t much going on in the pair as German Consumer Confidence came in as expected, so we were pretty lucky to catch a little unexpected volatility in the session. Congrats! Lot 1: +20 pips Lot …

After the weak US consumer confidence number and concerns from the FOMC on the housing market, traders sold of the dollar and piled into the euro. We watched today as the euro rose in value in all of its crosses, but is the short-term move exhausted? I think so, and maybe we can catch a …

The loonie made a fabulous run against the euro in the past few weeks, but in the last few days we’ve seen a correction and weekness in the Canadian dollar. Is it just a correction before a continued drop in the pair, or is it a sign of what’s happening with weak commodities and Canadian …

Monday: -18 pips Tuesday: +75 pips Wednesday: +20 pips Thursday: -40 pips Total: +37 pips It was a little bit of a frustrating week as there weren’t many market moving reports and traders are still unsure on what to do with the greenback.We still managed to grab 37 pips out of the markets…Not bad!This week …

Our AUD/USD trade went against us at the beginning of Friday’s euro session as the pair dropped and found no support at the .7600 level.After the stop out, I continued to watch the pair and notice that the previous support levels are now turning into resistance levels.We may see a new short term downtrend forming, …

As expected, EUR/CAD continued its downtrend, but was interrupted by the German Ifo Business Climate Index numbers. The market was expecting much worse due to the terrible ZEW report earlier this week, but the Index number came out as expected at 105.0 – good for the euro, bad for our trade. Our second lot was …

The AUD/USD has been in range mode for the past few days, making directional trades difficult. Regardless, I still like a long trade on the pair for a few reasons – Stronger commodity prices, much stronger housing numbers our of Australia, and a mixed US dollar as traders await hints from the Fed of future …

I still like a short play on USD/CAD as it seems to drift lower on the one hour chart. Oil prices are back on the rise with geopolitical issues out of the Middle East, which is helping the pair drift lower. I drew a fib extension to help me find possible levels of support and …

It was a snoozer of a day in the AUD/USD market as the pair ranged at about 27 pips since 12 am EST. Just my luck, the top of the day’s range did manage to trigger to long order. Fortunately, I closed out the trade with only a 9 pip loss per lot. Lot 1: …

Last week I had a short play on AUD/USD, but now it’s time to go long again. It seems like dollar bears are on the rise and commodities are making a new run up which makes a long play on AUD/USD very attractive. On the one hour chart, the pair made a run up before …

Monday: No trade Tuesday: +70 pips Wednesday: -60 pips Thursday: No trade Total: +10 pips We saw the possibility of future rate hikes drop significantly in the US after a week of negative US data reports, but the greenback still gained on most of the major currencies. I don’t get it – isn’t the opposite …

In Fridays trade, we saw the pair drift lower as expected, but without any retracement. No trade entered.

Our short entry was entered on USD/CAD and stopped out for a loss…we were only 6 pips away from hitting pt1 and walking away with some pips… doh!!! It seemed the market was pretty dead until about 12 pm EST when Philly Fed Index came out way, way, way better than expected.  Dollar bullishness meant …

Without any major economic reports coming out tomorrow, I’m looking to enter a couple of short plays on the AUS/USD, and to catch what seems to be a short term downtrend. It looks like the pair stalled at the 0.7600 level. I’d like to see a small relief rally before I jump in short to …

Tonight’s pick is on USD/CAD. It’s been in downtrend amidst US dollar bearish sentiment and higher oil prices. With today’s double economic whammy of lower US CPI and Housing Starts, we may see greenback sell off continue as the probability of another FOMC rate increase drops. To find a great price to jump in the …