Forex Tips and Tricks – Keeping It
Simple To Be Successful
A stronger USD today as U.S. traders return from their Independence Day long weekend
The GBPUSD made a move lower to test its Asian session lows early in the U.K. session, then reversed upward. As the U.S. session got underway, it made its pullback high around 1.3874… followed by a large bearish engulfing candle. A short was taken risking 15...
Another EURUSD short today as USD strength continued
This trade was very similar to yesterday’s trade. Price moved lower early in the U.K. session luring in breakout traders. We waited for it to pull back and move lower again before going short… risking 8 pips for a potential 31 pips to our daily target at 1.1860....
Shorting the EURUSD as the pair oscillates lower
Trading has been slower the past couple of weeks, as if the market is awaiting a new catalyst. The DXY is technically bullish and remains so above the 91.45 currently. My preferred pairs to trade have been the GBPUSD and the USDCAD, but I haven’t had any...
Long the USDCAD as the DXY pushed significantly higher and uniform moves were made across the majors
As the dollar strengthened today, a long was taken in the USDCAD after it pulled back into its Asian session range and bounced higher. The entry required a risk of 13 pips for a potential 34 pips to our daily target at 1.2134. With the compressed ranges of the...
Shorting the USDCAD as the DXY continues in its tight range for the week hovering around 90.00
The majors had some news to digest today as the U.S. jobless claims and CPI numbers were released. This was coupled with the ECB interest rate decision and President Biden’s meeting with U.K. Prime Minister Boris Johnson. As the U.S. S&P 500 attempted...
Long the USDCAD after the Bank of Canada Rate Statement
It’s been a very slow week with most major pairs trading in subdued ranges. After the Bank of Canada rate statement today, a long was taken in the USDCAD risking 14 pips for a potential 50 pips to our daily target at 1.2120. Price moved higher as the DXY...
A strong USD versus the majors today and a GBPUSD short was taken.
The U.S. economy is very strong and posting some record high economic numbers. During the Asian session the GBPUSD moved lower and then pulled back in the early European/UK trading. Price moved up to test the 1.4200 figure but failed above. The pair moved...
Shorting the USDCAD as oil continues higher today
The USDCAD moved up in advance of the U.S. session overlap then created a reversal pattern closing back down beneath its Asian session high… which enabled us to enter short (with the trend) risking 12 pips for a potential 58 pips to our daily target at 1.2022....
A strong USD today followed by a reversal as U.S. equity markets got underway
The DXY which has been struggling to stay above the 90.00 level of late, ran up to test its December 17th low around 90.47 in advance of the U.S. session. The U.S. equity futures pointed to a positive open and the USD began to reverse. Earlier in the U.K....