May Trade # 5 - BUY EUR/USD

9:00 pm (Manila)

Both lots are out at +17 pips/lot for a total of +34 pips. Pair started to stall and encounter resistance near 1.3625.

As I said, just taking a few pips before catching some z's. Nice trade!

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8:40 pm (Manila)

US Core Retail sales printed out worse than expected. With this, I am taking a LONG position on the EUR/USD. Core Retail Sales is a component of GDP, the measure of economic growth (or contraction). Negative Core Retail Sales is indicative of weaker spending in the economy. This is bearish for a currency.

I've been out for the better half of the week taking care of my sick daughter in the hospital. It's my first time to trade in nearly 4 days. Looks like I can haul a few pips before I hit the sack.

My position:

BUY EUR/USD @ 1.3605
STOP - 1.3575
Limit 1- 1.3635
Limit 2 - 1.3665