Forex Tips and Tricks – Keeping It
Simple To Be Successful
Shorting the USDCAD as the pair continues to trend lower
The USDCAD has been trending significantly lower. A short was taken early in the U.S. session as price began to move lower – away from a key area. Our first target was 1.3591 but 1.3574 was our main target and ultimately where the trade was closed. I find a lot of...
Long the EURJPY today following the U.S. CPI numbers
Following the U.S. economic releases today the euro was strong and the yen was not. A EURJPY long was taken, with the trend, as price began to break to the upside. Price moved up to test its high from yesterday, then through the 165.00 figure and up to our target...
Shorting the USDJPY during the U.S. session
There is a continued sense of fear and uncertainty in the financial markets resulting in the USD being weaker and the JPY stronger today. The opposite of this was true yesterday when President Trump put the tariffs mostly on hold, causing USDJPY to soar higher....
Shorting the USDJPY going into the UK Close
My style of trading is typically done on the 15 minute chart and positions are closed daily. Today I had been looking for a setup on the GBPJPY but found the more subdued USDJPY providing a better entry. It was late in the U.K. session and the USDJPY had begun to...
Long the CADJPY in the U.S. session after the retracement completes
Note: I have taken the last couple of years off from teaching with very few exceptions. I have preferred just doing my own trading. I have now been in the financial markets full-time for over 35 years and have been trading currencies for over 20 years. Although I...
Shorting the USDCAD as the DXY weakens from a bank bailout
As panic ensued following the collapse of Silicon Valley Bank, the U.S. government acted in order to protect the depositors and prevent the appearance of possible contagion in the banking system. Goldman Sachs over the weekend predicted the Fed will not raise...
Long USDJPY and USDCAD The ultimate or terminal level of interest rates likely to be higher than previously anticipated according to the U.S. Federal Reserve
In June 2020 Chair Powell stated that the Federal Reserve was “not even thinking about thinking about raising interest rates”. Today he stated, “If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the...
Shorting the EURUSD as the resilient DXY strengthens
The EURUSD moved higher early in the London session, formed a lower high and began to move lower with momentum and some solid overhead structure. A short was taken risking 15 pips for a potential 46 pips to our daily target at 1.0665. Price moved to its...
Long the USDCAD as the DXY attempts to move higher following Powell’s comments yesterday
A very bullish candle above its Asian session low set up a long trade in the USDCAD risking 10 pips for a potential 75 pips to our daily target at 1.3455. An hour before the U.S. session overlap often sees a retracement or profit taking. The USDCAD had been...