AdamFx42's Blog

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Leaving the Euro for what it is

The Greek problem seems like it is going to drag on foreever
So, I am staying out of any Eur trades for now
I, like a lot of traders, have no idea any more what way Eur/Usd is heading
When markets open again I will be concentrating on buying Aud,
the RBA interest decision is Tuesday morning
and most banks believe the interest rate will be left on hold
Aud/Usd is very low at the moment
and I see a cause for longs Aud/Usd targeting (maybe) 0.78 and higher
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Start of a new trading month

Good luck to all in the new trading month
With the contest prizes growing, it should be interesting this month!
I decided to short Aud/Usd today - but my SL was hit on that
I shorted Gbp/Nzd too, that pair is just way too high in my mind and should retrace,
I will let that position ride as long as possible
I am thinking of shorting Eur/Usd too, but I may change my mind about that
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Lots of new possibilities today

Today the fx market is opening strong for the Aud and Euro
and there are quite a few possibilities to trade today:
Eur/Cad has retraced to 1.48 area and this looks like a good place to go long
for at least 50 pips
Usd/Jpy has retraced back to 102 support area
and a long here up to 103 seems good too
Eur/Usd is showing strength and has stopped its move down at 1.3580 support area;
if a low is in place here and the pair's retracement is over at this level
then we shouls see 1.36 break soon (it is …
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Selling the highs in the Majors

China shows a trade deficit last month for the first time,
this is an indicator that there is no real market recovery in sight just yet,
it looks like Eur, Gbp, and Usd strength have been premature in the markets,
and that the global economy is still stagnant,
all major pairs are at weekly and monthly highs against each other and the Yen at the moment,
so, what is the right play here?
A all around retracement down for most majors would seem in order,
and my favored pick would be the Gbp,
I inten…
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Dieselfx avatar
Dieselfx 10 Mar

you should have follow trough with your initial plan, green pips

AdamFx42 avatar
AdamFx42 10 Mar

Yes, I missed the entry.... got a new plan, though ;-)

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Looking for bounce in Euro

I have closed my Gbp short positions (too soon) yesterday night --- I couldn't let them ride when I am asleep
Today I am looking for a bounce in Eur/Usd from confidence support around 1.362
A retracement back up to around 1.37 would be natural after the steep fall
and a good spot for traders to short the pair
To build up some equity I have also put in some long eur positions crosses,
like eur/jpy which should be strong at the moment
I will get out after a small profit
and will hope to get out be…
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