Archive for October, 2007
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Thursday, October 18th, 2007Many times I get asked by new traders how to handle a certain situation they find themselves in when trading. These traders may have opened five or six mini lots in a trade and have seen the market move in their direction. But now the market starts to move sideways or even move against them […]
USD / CAD - Covering Position
Thursday, October 18th, 2007As of this morning I don’t like what I’m seeing on the charts for the short idea. Although nothing definitive has come up saying that the downside potential is gone, it’s showing a momentary sign of weakness…for me that’s enough since I wasn’t looking to hold the position for more than 2-days. What I was […]
DailyFX Forex Radio - US Dollar Falls Back As Fed’s Beige Book Cites Economic Slowdown - Is A Retrace In Store?
Wednesday, October 17th, 2007· US Dollar falls as Fed’s Beige Book notes economic slowdown, but are there gains in store for the greenback?
· Will US CPI eliminate speculation of a Fed interest rate cut through December?
· Bank of England minutes reflect more dovish bias - will UK retail sales affirm it?
To discuss these or any other […]
Poor Earnings and Lack of Liquidity Drive the Stock Market Lower. Will the Fed Cut?
Wednesday, October 17th, 2007Money Markets Liquidity Remains Tight with Short Term Rates Significantly Higher than the Fed Funds Target. Credit Default Swaps Rise More than 8.5 percent On Concern Over the Future of the Credit Derivatives Market.Retail Sales Upbeat, but Markets Unsure on Consumption Outlook.
Click here to join DailyFX Analysts in discussing the Watch What the Fed Watches […]
USD / CAD - Probe for Weakness
Wednesday, October 17th, 2007Following up on my previous post, I think it would be a decent time to throw in a probing trade into USDCAD at this point (at the time of this posting).
A probing trade is a very small position that by itself is relatively inconsequential if it wins or losses. But the great thing about a […]
Don’t try to explain a fundamental event with technical analysis.
Tuesday, October 16th, 2007This week we are seeing some small reversals in some of the currency pairs, particularly the USD and JPY pairs. The main reason for this is the upcoming G7 meeting this weekend in Washington DC. This meeting is for the financial representatives of the largest economies in the world, the same countries whose currencies we […]
GBPUSD Trading Range
Tuesday, October 16th, 2007The GPBUSD pair has been trading in a range (2.0250-2.0450) since the end of September. I’ve decided to try to profit from this trading pattern. I bought one lot at 2.0300. My upside is 150 pips (limit set at 2.0440). I set my limit price at 2.0230, 70 pips below since that is under the trading […]
USD / CAD - Are You a Believer?
Tuesday, October 16th, 2007Sorry, for my unscheduled hiatus from the usual posting…fear not, trading has been tremendous the past few weeks so life is good. I hope you’ve all fared just as well if not better. With that said, let’s talk shop…
Now if you believe the USD/CAD free fall from parity the past month is bound to continue then […]
DailyFX Forex Radio - US Dollar Gains On Return To Risk Aversion, Canadian Dollar Awaits BoC Rate Decision
Monday, October 15th, 2007· Dollar gains on return to risk aversion as Dow, S&P plummet
· The British Pound looks primed to break out - will UK CPI trigger a rally?
· Be sure to view the rest of the week’s event risk on the DailyFX Weekly Calendar
To discuss these or any other FX topics with the DailyFX analysts, […]
USDCAD - Ready to Bottom?
Monday, October 15th, 2007For the past 2 months, USDCAD has been on a one-way downtrend that has seen virtually no retracements and everyone has been trying to figure out when the weakness will come to an end. According to the latest COT report, speculative longs in the CAD have hit a record high. With sentiment so […]
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