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.
Wednesday, 9 September 2009
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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