Wednesday, July 1, 2009

July Trade # 3 - BUY EUR/USD

July 1, 2009 3:30 pm (Manila)

I'm taking the pair out at +10 pips a lot for a total of +60 pips. Seeing some stress and resistance near the upper bollinger band on the hourly chart.

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July 1, 2009 3:00 pm (Manila)

BUY EUR/USD @ 1.4063 (6 lots)
Stop - 1.3990
Limit - 1.4093

Tonight, a number of US economic data comes out including the Non-Farm Payrolls preview from ADB. I expect the numbers to show positive signs for the US economy. This could encourage risk-appetite near-term and spur traders and investors to leave the dollar in favor of the Euro.

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