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Tag Archives: euro

Trading Update.

Hi guys the Forex markets have been a bit subdued the last couple of days. The Dollar has recovered a little bit from last week, seeing AUD and Euro weaken. Cable has been trading sideways for 2 days so no trades on that one for us. EJ has come off a bit, but its just been announced that the Bank Of Japan are considering additional easing of their currency so that should see a pop in Yen pairs. I did say this was a strong possibility a couple of weeks ago and warned against taking short positions on EJ.

Not much happening trades wise yesterday. We did take a small short on AUD for 12 pips profit but that was it for yesterday.

Today we took AUD long at 10415 and closed at 10450 for 35 pips, and that was about it. Markets are very hard work at the moment so I hope things change soon. We are still making good pips on a weekly basis, so i hope tomorrow brings us a good trading day.

If you are in the markets tomorrow, have a great day. 🙂

2 Trades Today 79 Pips Profit

Not a brilliant days trading today. Dollar weakness saw all my pairs rally today. We did not see any qualified long set ups, which was a shame, but we did get 2 short trades.

The first trade was a Cable short trade for 38 pips. Entry was at 16236, exit was at 16298.

The second trade of the day was a Euro short for 41 pips. Entry was at 13144, exit was at 13101.

The total pips for the week are 211.

I always set myself a target of 100 pips profit per week. The last few weeks have been very good trading and we have exceeded that by a long way. I am sure we will see more qualified trades next week and have another good week. I am looking forward to it.

Have a great weekend everyone. 🙂

3 Trades Today 124 Pips Profit.

Pretty crazy day today. The Euro news sent the price down and then up. I was very fortunate to be holding short trades at the time of the news, and 2 of my shorts hit target on the spike down. My short on Euro that i put on last night at 12866 hit my target of 12824 for 42 pips. I also entered Euro short again this morning before the news at 12879 which also hit 12824 for 55 pips. On the spike back up i entered Euro again at 12907, this trade went against me initially but came back and hit my target of 12880 netting me 27 pips.

The short trades on Cable and AUD that i put on yesterday were stopped out for 30 pips and 15 pips.

Total profit for the day was 79 pips. 🙂

More market moving news out tomorrow, when Ben Bernanke decides if the US is going to do QE. I think QE is already in the price so if he does not decide on QE watch out for the fireworks.

Dollar Weakness Sparks Rally In Euro Cable And AUD

With the weak numbers out of the US yesterday QE is looking very likely. The FOMC meeting this week should confirm that QE will happen. This news along with talk of a possible downgrade by Moody’s in 2013 has weakened the dollar significantly today, and we have seen a big rally in Euro Cable and AUD.

We have not taken any trades today as we have not had any set ups. Its a shame we did not go short US dollar as we would have had a good day, but if the set ups are not there we don’t trade. I have put a short on Euro at 12866 with a target of 12824. I also have a short on Cable at 16070 with a target of 16040. I also have a short on AUD at 10425 with a target of 10404. With a bit of luck these targets should be hit in the Asian session, or early UK session. I don’t normally rollover trades, but i think we have seen the top of this move up for now, and it would be nice to get some pips in the bank this week.

I will be looking for short trades tomorrow as i think we are due a dollar correction. Even with QE i think the dollar has been sold down too far, and will get stronger as the week unfolds.