August Trade #4 - BUY EUR/USD

August 13, 2009 2:48 pm (Manila)

Taking out the second half at +34 pips/lot for a total of +68 pips. The pair hit the upper bollinger band and RSI indicate the pair is oversold in the hourly chart.

Summary for this trade:

1st Half: +60 pips
2nd Half: +68 pips

Total: +128 pips

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August 13, 2009 2:21 pm (Manila)

1st half is out at +30 pips/lot for a total of +60 pips. German GDP came out muc better than expected - the German economy grew the past period.

2nd half is now risk-free with stops moved to breakeven.

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August 13, 2009 9:39am (Manila)

BUY EUR/USD @ 1.4229 (4 lots)
Stop - 1.4150
Limit 1 - 1.4259
Limit 2 - 1.4280

At 2:30 pm today (Manila), German GDP Preliminary data comes out. Expectation is of a lesser contraction than previous. This shoulr be bullish for the Euro. Germany is the largest economy in the Eurozone and thus would influence the Euro heavily.