AdamFx42's Blog

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NZD and AUD positions getting a bit unsure now

After the FOMC decision yesterday trading has become a bit harder for me

I bought Aud and Nzd crosses at support after they went down yesterday
but they are stuck at lows at the moment
Gbp and Eur have recovered, my NzdUsd pairs are doing alright
but my AudUsd was stopped out and my AudChf is down quite a lot
I am tightening stop losses on support areas today, just in case it all goes south
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Important data releases today

Two important data releases are planned this evening
At 18:00 GMT, we have the FOMC interest rate decision and statement
At 21:00 GMT we have the NZ interest rate decision
I am tempted to go long Usd, but I am still looking for a nice entry point -
just above 110 in UsdJpy would be good ..
I don't think there will be a surprise cut for the Nzd this month,
but there are enough signs of Dovish talk to follow in the statement
so I think shorting Nzd will be relatively safe - I will be looking to sh…
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Selling the Yen this final week

I have decided to go long UsdJpy before the FOMC
I am also long GbpJpy, EurJpy, NzdJpy, and CadJpy
This will be my last attempt to gain a substantial amount
And hopefully take a top 10 position
UsdJpy should attract buyers before the FOMC
And the crosses will follow up
Gl all
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Trading strategy for the coming week

Two interesting data releases for me this week
I have climbed back to 155K, from being down to 29K, last week
and I am hoping to spend my money wisely this week
UsdJpy is climbing higher before the FOMC on Wednesday,
I have not decided to play this yet - GbpJpy seems to me the most interesting pair to trade
Also, on Wednesday, is the Nzd interest rate decision
If there are hints of another rate cut I will short Nzd pre-decision
gl all
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FOMC meeting yesterday changes little

At yesterday's FOMC meeting a lot was said - but traders mostly read between the lines:
good news (but we are not there yet) concerning economic recovery, most members supported tapering last month,
there is a little worry though about deflation which could slow economic recovery or cause new problems
All in all no real reasons to cause new optimism, and the dollar fell slightly after the meeting
The Euro fell quite hard, too - just before the meeting when dollar strength was greatest in anticip…
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agree with u

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Looking for a pullback in EUR/USD

I have placed a Sell order just below strong technical resistence level at 1.3830 in Eur/Usd
I hope it will open today, maybe after some news or something .... just a spike up of about 40 pips would be enough
I have set buy orders for the yen crosses: Gbp/Jpy, Eur/Jpy, and for Usd/Jpy at the appropiate support levels
The FOMC meeting on friday should be a indicator/start of Usd/Jpy future direction,
and overall sentiment is that this pair will move up beyond 103/105
In this case the crosses wil…
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