Forex Tips and Tricks – Keeping It
Simple To Be Successful
An uptick in “risk on” sentiment to begin the trading week.
The USDJPY was fairly subdued in trading until the U.S. session got underway where we chose a long entry risking 7 pips for a potential 22 pips to our daily target at 108.98. There was a little bit of up and down as price moved toward our target, but price...
Shorting the EURUSD as a newsworthy week draws to a close and traders say ciao to ECB President Mario Draghi
It was a tricky week to find really good and productive entries. Brexit delays, headlines and rumours made for a volatile GBP and the EUR too. Where are we now with Brexit? If there were an easy solution, Teresa May would have found it. As it turns out,...
Long the EURUSD as the USD weakness continues
The EURUSD moved up to test its Asian session high, pulled back and closed above it, as the U.K. session got underway. A long entry was taken risking 7 pips for a potential 32 pips to our daily target at 1.1120. As price moved up, we took the risk out of the trade...
A weaker USD today as AUDUSD moves higher after making a quadruple bottom
The market is pricing in a 75% chance of a U.S. rate cut of 25bp at the end of the month. Disappointing retail sales and core retail sales today added to USD weakness. After the AUDUSD made a quadruple bottom and began to move higher, a long was taken...
Trading the USDJPY as risk appetite increases with optimism regarding the U.S. -China trade talks and Brexit
Trading remains volatile as headlines can potentially cause 50 to 100 pip moves very quickly in the current market environment. Today after moving down in the first half of the U.K. session, the USDJPY found a bottom around 108.15 and began to move higher in...
Shorting the GBPUSD as Brexit uncertainty continues to weigh on the GBP
Two major concerns for the markets have persisted this year… the U.S. – China trade talks and Brexit. As the deadline approaches ever nearer this month for Britain, there remains little progress toward an amicable solution with the E.U. On days of optimism, the...
Shorting the EURCAD as oil moves a bit higher and the Euro moves lower
The EURCAD has been quite active and with oil higher today early in the U.S. session overlap and the Euro weakening a short was taken risking 11 pips for a potential 106 pips to our daily target at 1.4576. A glance over that the EURUSD helped confirm the...
Long the GBPUSD early in the U.S. session
I can’t remember the last time I took a long on the GBPUSD. Brexit is not behind us, but the charts looked very good today for a move up to the 1.2500 area. A long was taken early in the U.S. session risking 20 pips for a potential 71 pips to our daily...
Shorting the EURCAD as oil prices rise due to Saudi Arabia disruption
An attack on Saudi Arabia’s Abqaiq oil processing facility has caused a temporary shut down of 5.7 million barrels a day of oil output. This naturally caused oil to trade significantly higher today. With oil strengthening significantly, a short was found in the...