Open trading account 
I setup five conditional orders early in the morning yesterday all of them to dollar long. But none of them was filled. Later in the day when other currencies dropped even more to dollar, I made revisions to my entries so they would not be so far from the spot price. This morning still noting and my dilemma is whether I should wait for a retrace or just cancel them all. While I do believe that FOMC Minutes should be dollar supportive, in this market anything can happen, so I’m debating it, and m…
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Next Week Trading Ideas
My trading ideas for the next week are not that different to what I was trying to do last week.
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I would like to buy USD\JPY at 124.00 with a target at this year top around 125.80.
I still have plenty of appetite to sell GBP. UK CPI data this coming Tuesday will be disappointing so the only question is: can I get a short position at 1.5680-90 band or it will be just above the last week closing price around 1.5650-60. Shorting GBP\AUD should also be a profitable trade because I expect another …
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I would like to buy USD\JPY at 124.00 with a target at this year top around 125.80.
I still have plenty of appetite to sell GBP. UK CPI data this coming Tuesday will be disappointing so the only question is: can I get a short position at 1.5680-90 band or it will be just above the last week closing price around 1.5650-60. Shorting GBP\AUD should also be a profitable trade because I expect another …
USD\JPY Target
So, I entered long on USD\JPY right below 124.00 and I wonder where the possible target could be. Something tells me that the pair will be heavily sold when it reaches 125.00. On the other hand it could be well supported by Janet Yellen's comments that the Fed will start rising rates this year(and now, everyone is talking about September again). So, maybe it can easily reach 127.00 level in next few sessions. Tomorrow's CPI data should also support the USD.
No matter what happens USD\JPY alread…
No matter what happens USD\JPY alread…
Short on USD\JPY
Yesterday, I decided to enter a short position on USD\JPY, even though it seems that everyone expects it to go up. But it looks like dollar is posing its latest rally.
On the 4 hour chart we can see a head and shoulders pattern developing while the daily chart clearly shows a reversal. The nearest resistance is 123.50 but I think it might go down to 121.50 level.
On the 4 hour chart we can see a head and shoulders pattern developing while the daily chart clearly shows a reversal. The nearest resistance is 123.50 but I think it might go down to 121.50 level.
Short on USD\JPY
Many opening gaps all over different charts at the beginning of the week, but one especially got my attention in USD\JPY because 117,40 was holding for about 2 weeks. So, I went with a short position but now I'm getting cold feet and I'm wondering whether it was just a false break.
I guess when London opens we'll be able to see where the pair is heading this week.
I guess when London opens we'll be able to see where the pair is heading this week.
Next Week Predictions
My favorite to trade pair predictions for the first week of February ending on Friday the 6th are as follows:
EUR\USD
- hitting high of 1.1420 level first
- ending the week around 1.1150
GBP\USD
- run up to 1.5108
- ending the week around 1.4860
USD\JPY
Ranging between 117.40 & 118.60
If it breaks 118,60 level, it will end the next week around 119.70-80
USD\CHF
- down to 0.9165
- ending the week around 0.9385
EUR\JPY
- up to 134.00
-then down all the way to 130.30
EUR\USD
- hitting high of 1.1420 level first
- ending the week around 1.1150
GBP\USD
- run up to 1.5108
- ending the week around 1.4860
USD\JPY
Ranging between 117.40 & 118.60
If it breaks 118,60 level, it will end the next week around 119.70-80
USD\CHF
- down to 0.9165
- ending the week around 0.9385
EUR\JPY
- up to 134.00
-then down all the way to 130.30