DECEMBER TRADE #2 - BUY EUR/USD

December 24, 2009 3:30pm (Manila)

Rest of the trade is out at +30 pips/lot for a total of +60 pips.

I'm hitting the road for a well-deserved Christmas vacation. As such, will be unable to monitor and manage this trade.

Summary for this trade:

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

Total: +120 pips

===================================================

December 24, 2009 3:23pm (Manila)

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

Second half now risk-free with stops moved to breakeven.

===================================================

December 24, 2009 10:00am (Manila)

It's Christmas Eve, and I was wrogn that my previous trade would be my last one for the year.

BUY EUR/USD @ 1.4337 (4 lots)
Stop - 1.4289
Limit 1 - 1.4367
Limit 2 - 1.4399

At 9:30 pm (Manila time), US Core Durable Orders and Unemployment Claims will come out, expected to be bullish for the USD which I think will cause a wave of risk appetite and drive this pair higher.

On the technical side, RSI indicates that the pair is oversold on the Daily chart and is primed for at least a modest rise. That rise could be today.