July Trade # 4 - BUY EUR/USD

Trade got stopped out at -42 pips/lot for a total of -168 pips. Recession fears persist which led to the strength of the dollar.

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July 2, 2009 10:06 am (Manila)

BUY EUR/USD @ 1.4137 (4 Lots)
Stop - 1.4095
Limit 1 - 1.4167
Limit 2 - 1. 4195

Tonight, US Non-Farm Payrolls come out. I expect the data to mirror what ADP provided last night. It should cause optimism in the Forex market and spur risk appetite. Ahead of this, the ECB will release it's decision on interest rates which should remain unchanged. This should be positive for the Euro and cause traders to favor it over the greenback.

On the technical charts, a hammer formed on the hourly chart which is also on the 20-hour MVA.

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.

July Trade # 2 - BUY GBP/USD

July 1, 2009 4;19 pm (Manila)

Well, fate had its way and the second half just got taken out at breakeven. There you go, can't win them all.

Wonderful trade still.

Summary for this trade:

1st Half: +90 pips
2nd Half: 0 pips

Total: +90 pips

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July 1, 2009 3:44 pm (Manila)

First half is out at +30 pips a lot for a total of +90 pips.

Second half stops moved to breakeven. Trade is now risk-free. Will let fate decide the outcome of this trade.

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July 1, 2009 2:45 pm (Manila)

BUY GBP/USD @ 1.6333 (6 lots)
Stop - 1.6370
Limit 1 - 1.6363
Limit 2 - 1.6500

At 4:30 pm today, UK Manufacturing PMI will come which is expected to show improvement from previous report. This should be bullish for the Pound.

This is a survey of Purchasing Managers who are asked to rate the relative level of business conditions. Since these Purchasing Managers hold the purse, they hold probably the most current and relevant insight into their company's view of the economy.

July Trade # 1 - BUY USD/JPY

July 1, 2009 9:14 am (Manila)

Second half is out at +40 pips/lot for a total of 120 pips.

Trade Summary:

1st Half: + 90 pips
2nd Half: +120 pips

Total: +210 pips

Fantastic trade # 1 for July!!!

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July 1, 2009 9:08 am (Manila)

First half is out at +30 pips/lot for a total of +90 pips.

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

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July 1, 2009 7:55 am (Manila)

BUY USD/JPY @ 96.31 (6 lots)
Stop - 95.79
Limit 1 - 96.61
Limit 2 - 96.80

Fundamental Reason: At about 7:50 am today (Manila), Japanese Tankan Manufacturing and Non-Manufacturing Indices printed with disappointing figures. This should be bearish for the Yen.

Manufacturing plays a critical role in the Japanese economy. The Tankan Manufacturing Index is considered the best gauge of the industry's health due to its large sample size and a well-respected source.

This survey is leading indicator of economic health. Changes in sentiment in the industry can be an early signal of future economic activity such as spending, hiring, and investment. This should impact currencies.

The survey came out better than previous numbers (which hot rock-bottom last quarter) but not as good as expected. This might temper any hopes that the Japanese economy is on it's way to a full-blown recovery and weigh-in on the Yen.

June Trade # 30 - BUY EUR/USD

June 29, 2009 4:12 pm (Manila)

Trade is out at +10 pips/lot for a total of +40 pips.

I'm taking it out as I will be unable to monitor this trade for the next couple of hours. I do not feel comfortable leaving the trade open when I am doing something else, unless it's a long-tem trade.

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June 29, 2009 3:15 pm (Manila)

BUY EUR/USD @ 1.4016 (Just 4 lots)
STOP - 1.3966
Limit - 1.4046

At 5:00 pm (Manila) today, Eurozone Consumer Confidence data comes out which should show a number bullish for the Euro. Consumers are a major part of GDP, the measure of economic growth. Bullish consumer sentiment is good for a currency as traders anticipate that demand for that country's (or region's) currency will be high in the coming months (Consumer Confidence is forward-looking).

On the technical side, the pair has been trending down all day but the 2pm horly candle finished as a hammer, indicating that selling for the pair may have ended. Also, this hammer coincides with the lower bollinger band and around 61.8% of a fibonacci retracement drawn from 6/25 2200 hrs to 6/27 0000 hrs.