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Long the USDJPY after reversal early in the U.S. session overlap
The risk sensitive USDJPY moved lower in the first half of the U.K. session, finding a bottom just beneath 107.50 then it began to move higher early in the U.S. session. A long was entered after a reversal pattern risking16 pips for a potential 37 pips to our daily...
Shorting the GBPUSD as the DXY continues to bounce from technical support just above 91.00
The GBPUSD moved lower early in the U.K. session, leaving a second lower high for the day. Buyers emerged just above yesterday’s low and the pair began a retracement higher. When it began to move down again it left a third lower high for the day. A short was taken...
Shorting the USDJPY as currency flows move to the yen today
There was very little economic news today and the USD tried to bounce at a technical level just above 91.00 Equity markets were moving down from their recent highs and currency flows – typical of the “risk off” environment moved to the yen. A short was taken in the...
A small bounce in the DXY today and a long USDCAD trade was taken following the economic news
The DXY had moved down for three straight days this week, so it was not surprising to see retracement trades set up today. After some some disappointing Canadian news and very positive U.S. economic news, a long USDCAD trade was taken risking 13 pips for a...
Shorting the USDCAD as the DXY continues lower for a third day in a row
The commodity currencies were particularly strong against the USD today and with WTI up, a short was taken in the USDCAD. An earlier entry would have been ideal, but once the pair had downside momentum today, a trade was taken risking 11 pips for a potential...
A stronger EURUSD and weaker GBPUSD creates a long opportunity in the EURGBP
As the U.S. session overlap got underway, the DXY continued to move lower today. With the EURUSD moving higher and the GBPUSD moving lower, it was clear a long EURGBP position would be tactical. An entry was taken risking 12 pips for a potential 41 pips to...
Long the EURUSD as trading resumed for us after an extended Easter long weekend
A nice start to the trading week. There were several nice trade setups today to take advantage of with a weaker USD. A long was taken early in the U.S. session overlap risking 15 pips for a potential 38 pips to our daily target at 1.1855. The trade had...
Long the GBPUSD with the DXY decline in advance of Friday’s NFP number
As we start the new month the USD is moving lower in advance of Friday’s NFP number. A GBPUSD long was taken risking 15 pips for a potential 47 pips to our daily target at 1.3829. Price found a bottom early in the U.S. session overlap then began to move...