NOVEMBER TRADE #2 - BUY EUR/USD

Nov 10, 2009 8:27pm (Manila)

Second half is out at breakeven.

Summary for this trade:

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

Total: +60 pips

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Nov 10, 2009 7:13pm (Manila)

Limit 1 hit at +30 pips/lot for a total of +60 pips.

Stops of 2nd half moved to breakeven making the trade risk-free.

German ZEW economic sentiment index dropped 51.1 in October from the previous 56. Investors' confidence for a strong growth next year was mellowed by the fact that stimulus packages will be removed. The fact remains --- there will be growth, not just that much. The stimulus packages that have spurred growth this year are crutches for the Eurozone economy. What do you expect from someone who leaves his crutch behind? Expect him to slow down a bit. But then again, he starts walking... on his own.

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Nov 10, 2009 10:54am (Manila)

BUY EUR/USD @ 1.4981 (4 lots)
STOP - 1.4806
Limit 1 - 1.5011
Limit 2 - 1.5059

At 6pm tonight, ZEW Economic Sentiment data will come out which could be positive for the German economy and thus, for the Eurozone as a whole.