QUICK TRADE UPDATES (Nov 19)

ALL TRADES ARE OUT. The AUD, NZD and CAD all retreated in front of a USD onslaught caused by a number of Central Bank heads talking-up the dollar. Also, some disappointing data about the US economy, particularly housing data, contributed to this retreat.

I am looking to re-enter once favorable circumstances present themselves. For now, I'm on the sidelines waiting for this turbulence to pass.

Click below for the final results of these trades.

AUD/USD Trade Result:

NZD/USD Trade Result:

USD/CAD Trade Result:


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I still have 3 active trades (LONG AUD/USD, LONG NZD/USD and SHORT USD/CAD)

Status:

NZD/USD Trade:

Took out 1 set (4 lots) for +261 pips/lot. Total of +1,044 pips.

Stops currently at breakeven for 2nd set (4 lots now running +176 pips/lot).


AUD/USD Trade:

2 lots @ +181 pips/lot (Stops moved to protect +50 pips/lot)

2 lots @ +260 pips/lot (Stops moved to protect +130 pips/lot)


USD/CAD TRade:

2 lots @ +193 pips/lot (Stops moved to protect +50 pips/lot)

2 lots @ +191 pips/lot (Stops moved to protect +50 pips/lot)


http://forexfoundry.blogspot.com/search/label/In%20Progress

From Bloomberg: Bernanke Signals ‘Extended’ Low-Rate Period May Become Longer

Looks like its still a long drag to recovery...

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Bernanke Signals ‘Extended’ Low-Rate Period May Become Longer

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By Scott Lanman

Nov. 17 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke’s diagnosis of a weak U.S. economy and labor market signaled that the central bank’s extended period of low borrowing costs may get even longer.

Bernanke said “significant economic challenges remain,” with lending constrained and the jobless rate above 10 percent. Speaking in New York yesterday, he said U.S. asset prices aren’t out of line with underlying values, and central bank policy will ensure that the “dollar is strong.”

Get the rest here:

http://www.bloomberg.com/apps/news?pid=20601068&sid=a3BlApikRmTY

NOVEMBER TRADE #5 - BUY EUR/USD

Nov 18, 2009 8:00am (Manila)

Trade got stopped-out at -152 pips/lot for a total of -608 pips. Awts.

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Nov 17, 2009 1:06pm (Manila)

BUY EUR/USD @ 1.4966 (4 lots)
Stop - 1.4814
Limit 1 - 1.4896
LImit 2 - 1.5037

My third EUR/USD trade in as many days. Tonight, a slew of US economic announcements are due (expected to be on the bright side) which could trigger further risk appetite away from the USD.

NOVEMBER TRADE #4 - BUY EUR/USD

Nov 17, 2009 10:10am (Manila)

Second half is out at breakeven.

Summary for this trade:

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

Total: +60 pips

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Nov 17, 2009 8:26 am (Manila)

Limit 1 was hit last night right after positive m/m retail sales data came out of the US. Limit 1 yielded +60 pips total.

Trade now risk-free with stops of second half at breakeven.

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Nov 16, 2009 2:00 pm (Manila)

BUY EUR/USD @ 1.4972 (4 lots)
Stop - 1.4812
Limit 1 - 1.5002
Limit 2 - 1.5038

I'm banking on continued dollar weakness as more optimistic news comes out of the Eurozone.

On the technicals, a bounce occurred on the daily charts.