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TRADE CALL RECAP Our last live trade call was for the US Retail Sales report that was released this morning. We were looking to long the USD/JPY if the number came out at least 0.5% better than expected. The actual number came out with a deviation of 0.5%, so it did meet our safe trigger,…
On Tuesday June 10 I made a post for sells in the 107.30 to 107.35 zone on the USDJPY. After a spike into the 70’s the pair made a fall into the mid 106.50’s. Traders have reported taking anywhere from 40 to 60 pips on this trade. Congratulations if you were able to take advantage…
TRADE CALL RECAPS Our last live trades were yesterday when we were watching three news releases. First was the UK Industrial Production, and we were looking to long the GBPUSD if the number came out at least 0.5% better than expected. The actual number came out with a 0.2% deviation, so our safe trigger was…
TRADE CALL RECAPS Last Friday we were watching the Canadian Labor Change and US Non-Farm Payrolls reports. For the Canadian release, we were looking to long the USDCAD or EURCAD if the number came out 15k worse than expected. The actual number came out with a -1.4k deviation, so it did not meet our trigger…
What a difference a week makes….. We saw the Dollar fall back to retest support. So far it has held but the real question is will it continue to hold. We see more reasons for it not to hold than for it to hold so at best we remain cautious. If the Dollar does break…
O&F FOREX News & ViewsBy: Head Trader, Derek Frey June 9, 2008 Quick Links Register Now Related Topics About the Author General Market Comments: This week we continue with a full schedule of upcoming data announcements. We have both BoJ and BoC meetings this week. Both are expected to fall in line with the other major…
TRADE CALL RECAP Our last live trade call was this past Monday when we were watching the US ISM Manufacturing report. This report did not meet our safe trigger as we were looking for a 1.2 deviation or higher, and the number came out only 1.1 better than expected. We did have a few traders…
The post earlier this week had a buy on the GBP at the 1.9525 zone. On the first approach we were able to catch a 30 pip bounce. If anyone was able to withstand the push down into the 1.9460’s then you may now be seeing 50 pips from the 1.9525 entries. …
TRADE OPPORTUNITY TONIGHT There is an opportunity to trade tonight when the AUD GDP report is released at 9:30pm EDT. The expectation for the GDP (QoQ) figure is 0.3%. We have placed a safe trigger of 0.4% for this release. We have historically seen moves of around 25 to 40 pips when this release has…
Last week’s posted levels on the EUR and CHF saw a push though the levels that many smaller intraday traders may not have been able to withstand. This is sometimes the case with the bank flow strategy and why I suggest using proper risk management and not to over leverage your trading account. For the…
This week we have a virtual tsunami of data coming out. We have 4 major central bank interest rate decisions starting on Tuesday with the RBA. Then on Wednesday we have the RBNZ, followed by both the ECB and BOE on Thursday. We end the week with Friday’s NFP report here in the US so…
Commodities are trying to hold onto the gains they have had as you can see in the CRB index. The CRB is building a bull flag on the daily charts. However, we do not see immediate upside follow through any time soon. We remain biased to expecting a pullback in commodities in the near term. …