US Consumer Confidence comes in lower than expected and the USD buying continues as expected. EURUSD is challenging 1.4800 and the other majors continue to press lower.
October 27, 2009
Market Update: 8:41am EST
Currencies has been mostly rangebound overnight. GBPUSD had some strength but sold off after 7am data. Equity futures point lower to flat and I do expect USD profit taking to continue today.
October 26, 2009
Market Update 7:45pm EST
It’s starting to look like we’re in the midst of a larger USD reversal, at least it looks like there will be some major USD profit taking to end the month. As such I’m short EURUSD and AUDUSD and I think they both have a good amount of room to run to the downside.
October 26, 2009
Trade Update: EURGBP
That certainly didn’t work out as expected, but when the EURGBP makes up its mind that it’s headed in one direction, sometimes there’s no stopping it. Taking a -33 pip loss here @ .9110.
October 26, 2009
New Trade: Buy EURGBP @ market
I like the .9135 area as good support on EURGBP, so we’ll jump in long here @ .9143 for the move higher. Only taking on about 30-40 pips of risk.
October 26, 2009
Market Update: 11:16am EST 10/26/09
The equity markets are up, but we’ve seen light volatility in the currency markets to start the week. The GBPUSD made a strong move higher, breaking out of its Asian ranges to start off the NY Session. The EURGBP has followed suit, moving lower. EURUSD just broke through 1.5000 to the downside, but we need to see a break of the 1.4980-1.4950 area to really see a sustained move.
October 22, 2009
Trade Update: EURCAD
I’m going to end this EURCAD battle and close the whole thing here @ 1.5705 for a -23 pip loss
October 22, 2009
Trade Update: EURCAD
We’ve got a nice head and shoulders formation on the 60 minute chart, which if fulfilled would place the EURCAD somewhere around the 1.5400 level. It made a new high on the right shoulder recently just above 1.5700 and if it goes much higher it would invalidate the trade. So I’m looking to add a short piece to the position @ 1.5715 to make it 100% position size again at an average entry of 1.5682 with a stop for the whole position above 1.5750.
October 21, 2009
Trade Update: EURCAD
EURCAD has made a nice big reversal off it’s earlier highs, but I think its got the opportunity to make a bigger run lower. However I’m going to close half here @ 1.5628 for +22 pips and hang onto the other half to try for a home run.
October 21, 2009
Market Update: 10:45am EST
EURUSD finally blasts through 1.5000 and runs stops up to the 1.5015 level initially. My gut says this is nothing more than a stop run and we’ll see the EURUSD below 1.5000 again quickly, however I won’t be making any trades on this theory! Let’s watch and see what happens.
