June Trade # 11 - BUY EUR/USD

June 9, 2009 5:20 pm (Manila)

2nd half of this trade just got out at breakeven.

Summary for this trade:

1st Half: +60 pips
2nd Half: 0 pips

Total: +60 pips

Wonderful trade still!

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June 9, 2009 3:10 pm (Manila)

1st half is out at +30 pips/lot for a total of +60 pips.

Trade is now risk-free as 2nd half stops are moved to breakeven.

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June 9, 2009 7:10 am (Manila)

BUY EUR/USD @ 1.3912
STOP - 1.3825
Limit 1 - 1.3942
Limit 2 - 1.3984

AT about 2pm and 2:45pm this afternoon, German and French Trade balances are due to come out with better numbers than previous. These two countries comprise more than 50% of the Eurozone's economy and thus would have significant impact on the Euro.

On the technical side, a hammer on the dailies, pair bounced off trendline, 61.8% fibonacci level and 20-day MVA (see my previous post about opportunities for today, June 9th)