Yesterday provided quite an active market so we were able to trade all six of the pairs for a total gain of 203 pips. The USD was weak early on then recovered whereas the GBP dropped off quite markedly later in the day due to some worsening news from the retail sector in particular.
There was a small trade early in the day which produced a small gain of 10 pips from the GBP/USD Short but then a small rally cut that trade off unless it was allowed to run as it turned before hitting the usual stop loss, of at least 30 pips behind our entry point, we recomend using. We then saw another trade develope later in the afternoon which would have produced in excess of 120 pips but as we don't normally trade this late in the day we have not included it in the gains shown above. The best performer of the day was the USD/JPY Long which produce 62 pips.
Today looks to be a normal Friday trading day with few reports of interest due out. The only exception id the GBP which could easily react to adverse results on Public Sector Borrowing due out at 9.30 am ( see forexfactory.com) so take care with any trades as usual on Fridays.
Friday 18 September 2009
Thursday 17 September 2009
Wednesday 16th September
Yesterday turned out to be quite a good day with five of the six pairs trading for at total gain of 195 pips. The main activity seemed to centre around the USD which was strong early on then weekened later in the day. This gave us plenty of opportunity to do some good trading.
The GBP/USD Short trade worked quite well although it started off someway into the trading points which restricted the gain to 15 pips. However there was the chance of a further bite of this cherry later in the day for those who felt keen. The best performer of the day was both of the JPY pairs each producing around 80 pips gain.
Today Thursday 17th with the volatility of the USD the GBP and the JPY we are hopeful that this will bring some interesting trading opportunities our way. Fingers crossed!
The GBP/USD Short trade worked quite well although it started off someway into the trading points which restricted the gain to 15 pips. However there was the chance of a further bite of this cherry later in the day for those who felt keen. The best performer of the day was both of the JPY pairs each producing around 80 pips gain.
Today Thursday 17th with the volatility of the USD the GBP and the JPY we are hopeful that this will bring some interesting trading opportunities our way. Fingers crossed!
Wednesday 16 September 2009
Tuesday 15th September
Yesterday Tuesday 15th only low gains of 47 pips although there was a chance to make some extra later in the day from a couple of pairs but we have not included them here. With the USD weak against most currencies, except for the pound which also weakened after some bad news at 9.30 am, we only had two modest trades.
The expected GBP/USD Long trade failed to materialise after some bad reports at 9.30 am (as shown on forexfactory.com) which proves it pays to monitor these reports for likely effect. Of the only two trades that did happen the USD/CAD was the best of the day at 32 pips gain.
There may be some correcting of the fairly large moves from yesterday which could be good for us. However there are one or two interesting reports due out today which could affect the GBP (9.30 am) and the USD (3.00 pm) so be careful around these times if you are in a trade.
The expected GBP/USD Long trade failed to materialise after some bad reports at 9.30 am (as shown on forexfactory.com) which proves it pays to monitor these reports for likely effect. Of the only two trades that did happen the USD/CAD was the best of the day at 32 pips gain.
There may be some correcting of the fairly large moves from yesterday which could be good for us. However there are one or two interesting reports due out today which could affect the GBP (9.30 am) and the USD (3.00 pm) so be careful around these times if you are in a trade.
Tuesday 15 September 2009
Monday14th September
Yesterday Monday 14th was very poor even for a Monday with only one trade which produced only 11 pips gain. None of the other pairs went in the predicted direction.
The GBP/USD Long was the only pair that traded but even they were indecisive until very late afternoon when they did manage to perform but we don't normally advocate trading this late in the day.
Today, Tuesday 15th there are one or two reports due out which could affect the GBP (morning) and USD (afternoon) so although it should be a better day than yesterday and Friday be careful and check forexfactory.com to see what the reports hold.
The GBP/USD Long was the only pair that traded but even they were indecisive until very late afternoon when they did manage to perform but we don't normally advocate trading this late in the day.
Today, Tuesday 15th there are one or two reports due out which could affect the GBP (morning) and USD (afternoon) so although it should be a better day than yesterday and Friday be careful and check forexfactory.com to see what the reports hold.
Monday 14 September 2009
Friday 11thSeptember
Last Friday 11th was just a quite Friday as predicted with just 54 pips from 4 small trades. Some of the pairs moved sideways in a fairly narrow band and a small loss was made on the GBP/USD. Just a reasonable gain for the week at 573 pips lets hope we improve for the rest of the month.
A small loss was made on the Long GBP/USD due to a period of sideways trading and then time running out. The best of the pairs that traded was the EUR/USD with 22 pips gain.
Today again looks to be fairly quite with not much in the way of news around and low buying/selling pressure. There is always the chance that things could liven up later but no real indication of why or when at the moment.
A small loss was made on the Long GBP/USD due to a period of sideways trading and then time running out. The best of the pairs that traded was the EUR/USD with 22 pips gain.
Today again looks to be fairly quite with not much in the way of news around and low buying/selling pressure. There is always the chance that things could liven up later but no real indication of why or when at the moment.
Friday 11 September 2009
Thursday 10th September
Yesterday Thursday 10th was as predicted quite a difficult day with the market re-acting to some of the news that came out. As a result only two of the pairs traded for a gain of 118 pips. There was the opportunity to grab another couple of trades later in the afternoon but I have not included them as normally we don't encourage trades later on in the day.
The GBP/USD Long trade did us proud with a gain of 85 pips after allowing it to run after it hit our exit point. The other pair that traded was the USD/JPY for a modest 30+ pips.
Today Friday 11th just another Friday although there seems to be something happening around the JPY so apply the usual caution particularily with the JPY pairs!
The GBP/USD Long trade did us proud with a gain of 85 pips after allowing it to run after it hit our exit point. The other pair that traded was the USD/JPY for a modest 30+ pips.
Today Friday 11th just another Friday although there seems to be something happening around the JPY so apply the usual caution particularily with the JPY pairs!
Thursday 10 September 2009
Wednesday 9th September
Yesterday Wednesday 9th turned out to be a really good day despite the concerns around the USD. The total pips gaind from all six pairs trading was 194. One or two trades were difficult to judge so being cautious you may have got out earlier on them and the EUR/JPY trade occured late in the afternoon so you may not have done it. But still a good day overall!
The GBP Long trade went well providing you stayed with it when it appeared to be possibly turning. The two stars of the day were the EUR/USD and the USD/CHF which provided around half the gains between them.
Today may be another difficult one to predict as there are several reports and indicators due out today which could affect trading so keep a watch on the www.forexfactory.com site to see at what time they are being announced and get ready to get out of any trades that might be affected depending on the news and whether you are in Long or Short.
The GBP Long trade went well providing you stayed with it when it appeared to be possibly turning. The two stars of the day were the EUR/USD and the USD/CHF which provided around half the gains between them.
Today may be another difficult one to predict as there are several reports and indicators due out today which could affect trading so keep a watch on the www.forexfactory.com site to see at what time they are being announced and get ready to get out of any trades that might be affected depending on the news and whether you are in Long or Short.
Wednesday 9 September 2009
Tuesday 8th September
Yesterday was a very bad day for the US Dollar against most currencies. There was no obvious reason for this other than the price of Gold being very strong. As a result we had a modest days trading with only two pairs trading to produce a gain of 96 pips.
The GBP Short failed to develope along with three other pairs, mainly due to the US Dollar weakness. The best performing pair was the EUR/JPY being allowed to run on once the trade started to produce 51 pips.
Not sure what is going to happen to the US Dollar today, it should retrace after yesterdays falls but this may only be a pullback rather than a solid move. Stay alert and be prepared to get out of any trade that starts to show any further weakness in the US Dollar.
The GBP Short failed to develope along with three other pairs, mainly due to the US Dollar weakness. The best performing pair was the EUR/JPY being allowed to run on once the trade started to produce 51 pips.
Not sure what is going to happen to the US Dollar today, it should retrace after yesterdays falls but this may only be a pullback rather than a solid move. Stay alert and be prepared to get out of any trade that starts to show any further weakness in the US Dollar.
Tuesday 8 September 2009
Monday 7th September
Yesterday the 7th September was quite a reasonable Monday with total gains of 111 pips from trades from all of the six pairs. The best performing pair was the USD/CAD which produced 37 pips while the remaining pairs only managed between 10/20 per trade.
The GBP/USD was one of the less productive pairs with only 9 pips gain but still a gain is a gain!
After yesterdays rather slow day (US bank holiday) today (Tuesday 8th) may give us more to work with but a lot depends on how the USD performs as there is not much in the way of technical info coming out of the US today.
The GBP/USD was one of the less productive pairs with only 9 pips gain but still a gain is a gain!
After yesterdays rather slow day (US bank holiday) today (Tuesday 8th) may give us more to work with but a lot depends on how the USD performs as there is not much in the way of technical info coming out of the US today.
Monday 7 September 2009
Friday 4th September
Last Friday 4th, was a bit mixed with some pairs performing and others either not performing at all or performing strangely. Anyhow we managed to produce a gain of 127 pips from just three trades with a small loss on one other. That gave us a total of 753 pips for the four day week which is a nice start for the month!.
The GBP/USD did produce a few pips (17) after moving strongly in the right direction before we were able to get in. By the time we did get in there were only a few more pips available before it tunred around. The star for the day was the USD/CHF pair which produced 76 pips after hitting the target exit point and being allowed to run on. A small loss of (-7) was made on the USD/JPY which went the wrong way as soon as we got in!
Today Monday 7th looks rather difficult with the USA on a bank holiday and a combination of low buying/selling pressure and early low volume. So unless things change be very careful today until we see some clear signs of how the market is going to go.
The GBP/USD did produce a few pips (17) after moving strongly in the right direction before we were able to get in. By the time we did get in there were only a few more pips available before it tunred around. The star for the day was the USD/CHF pair which produced 76 pips after hitting the target exit point and being allowed to run on. A small loss of (-7) was made on the USD/JPY which went the wrong way as soon as we got in!
Today Monday 7th looks rather difficult with the USA on a bank holiday and a combination of low buying/selling pressure and early low volume. So unless things change be very careful today until we see some clear signs of how the market is going to go.
Friday 4 September 2009
Thursday 3rd September
Yesterday Thursday 3rd was fairly quiet with only a couple of trades taking place to produce just 79 pips gain.
The GBP/USD Short trade failed to materialise so it was left with the EUR/USD and USD/CAD to provide the gains. The other pairings failed to reach their entry points.
Today (Friday 4th) a couple of special reports due out today, the Non-Farm Payroll and US Employment Rate, both could have some significant effect either way on the strength of the Dollar so the usual Friday care needs to be taken.
The GBP/USD Short trade failed to materialise so it was left with the EUR/USD and USD/CAD to provide the gains. The other pairings failed to reach their entry points.
Today (Friday 4th) a couple of special reports due out today, the Non-Farm Payroll and US Employment Rate, both could have some significant effect either way on the strength of the Dollar so the usual Friday care needs to be taken.
Thursday 3 September 2009
Wednesday 2nd September
Wednesday was an ok day but a bit of an anti-climax after such good results on Tuesday. There were five trades but three of those were very small and the total pips gained were 153.
The GBP/USD Long trade proved good after allowing it run through the target to achieve 72 pips gain. The EUR/JPY was second best with 57 pips gain.
Not that clear what tommorow may bring, it depends on how the USD settles down after a bit of a roller coaster period. The week so far has been pretty good so if it fizzles out a bit today (Thursday) and tommorow nothing will be lost.
The GBP/USD Long trade proved good after allowing it run through the target to achieve 72 pips gain. The EUR/JPY was second best with 57 pips gain.
Not that clear what tommorow may bring, it depends on how the USD settles down after a bit of a roller coaster period. The week so far has been pretty good so if it fizzles out a bit today (Thursday) and tommorow nothing will be lost.
Wednesday 2 September 2009
Tuesday 1st September
WOW what a great day! All six pairs performed - some brilliantly!! The total gain for the day was 394 pips with the GBP/USD being the star of the day.
The GBP/USD Short worked like a dream althought there was a small blip early on when it looked like it might be running out of stream but with a bit of determination and letting it ride it finally did the business for us BIG STYLE.
The EUR/JPY also did well. In fact over the past few days both the JPY pairs have been performing well (from a trading point of view).
Not sure if this excitment will run on tomorrow but lets hope it does as we are heading for a record breaking week!
The GBP/USD Short worked like a dream althought there was a small blip early on when it looked like it might be running out of stream but with a bit of determination and letting it ride it finally did the business for us BIG STYLE.
The EUR/JPY also did well. In fact over the past few days both the JPY pairs have been performing well (from a trading point of view).
Not sure if this excitment will run on tomorrow but lets hope it does as we are heading for a record breaking week!
Tuesday 1 September 2009
Monday 31st August
Although yesterday was a Bank Holiday in the UK the Forex was open and as it turned out it was quite a good trading day with a gain of 91 pips from just a couple of trades.
The GBP/USD was not a trade and the best for the day was the USD/JPY which gave us 49 pips.
Today Tuesday 1st Sept could be a good day providing there is no unexpected bad news coming out anywhere. As it is the first day after a Bank Holiday weekend it may pay to be cautious until the market decides what it is doing.
The GBP/USD was not a trade and the best for the day was the USD/JPY which gave us 49 pips.
Today Tuesday 1st Sept could be a good day providing there is no unexpected bad news coming out anywhere. As it is the first day after a Bank Holiday weekend it may pay to be cautious until the market decides what it is doing.
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