Trade Ideas

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 …

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 …