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Shorting the USDCAD as September trading arrives
August was the slowest month I’ve seen in over 17 years of currency trading. I think my best trade was for 21 pips but the majority were in the 1 to 15 pip range. I am happy September has arrived and the volume and ranges will pick up from here. Who knows perhaps...
A down week for the DXY and a USDJPY short today to end the trading week
On Wednesday the DXY moved up to test its July 21st high at 93.19 and failed to move higher leaving a double top. Today the DXY moved lower after the Michigan Consumer Expectations and Michigan Consumer Sentiment economic releases – which were both large misses....
Shorting the USDCAD despite a stronger DXY
As the U.S. session got underway the USDCAD made an attempt to move higher but was unable to test its Asian session high or yesterday’s high. It began to fade and a short was taken risking 13 pips for a potential 55 pips to our daily target at 1.2518. Price moved...
A slow week but NFP created momentum and a GBPUSD short was taken
Whether it’s because of August holidays or the market focused on the NFP number today, it’s hard to say. I found trading to be slow this week but the currencies moved after a positive NFP number that beat expectations. The market is now looking toward...
Shorting the USDJPY as the DXY continues lower post FOMC
The Federal Reserve statement on Wednesday resulted in further USD weakness and this carried through today as the DXY moved below 92.00. As the USDJPY came off its New York high, a short was taken risking 15 pips for a potential 36 pips to our daily target...
Long the EURUSD as the USD pulls back for a second day in a row
The financial markets are concerned about a broad-based regulatory crackdown in China which sent equity markets downward around the world today. The USD was unable to benefit from the declines while the Euro made another run above 1.1800. A long was taken...
Shorting the USDCAD as the DXY moved higher to test the 93.20 area and backed off for a second day in a row
The USDCAD started the U.K. session moving down to test its Asian session low before moving higher to test the 1.2700 figure. As the U.S. session got underway, price moved lower with momentum and a short was taken risking 22 pips for a potential 62 pips to our...
Shorting the GBPUSD as it rolls over after making a lower high early in the U.K. session
As the U.K. continues to lift covid related restrictions, the delta variant case numbers are increasing there and Prime Minister Johnson is reported to have entered into isolation protocol. Naturally this doesn’t bode well for the GBP. A short was taken...
Shorting the GBPUSD with a similar setup to yesterday
Today the GBPUSD moved higher going into the U.S. open. Similarly to yesterday, it then reversed with a large bearish engulfing candle and a short was taken risking 19 pips for a potential 71 pips to our daily target at 1.3752. Price moved lower to test its...