Heya!
So i changed the layout of my blog! What do you guys think? would love to read your views!
So i changed the layout of my blog! What do you guys think? would love to read your views!
Happy Trading!
FxTaurian
Friday, May 20, 2011
Monday, May 16, 2011
New week and Euro looks to be in trouble.
It's a new week! and we have an extremely low Euro!!
we've seen some serious dollar strength lately and alot of long Euro, Cable and USDJPY positions been taken off. To top it off, we heard of IMF managing director Strauss-Kahn being arrested on saturday in New York and charges with several sexual assault offences. Doesn't look too good for the Euro to be honest!!
the Yen has been struggling to rally against the USD even though the dollar strength is quite significant. Seems like JPY strength is playing through on the crosses end as EURJPY and GBPJPY trade lower.
We do have some data to look out for today!!
Tomorrow is a public holiday for me as it's Vesak day ( Buddha's Birthday), so i'm going to be chilling by the pool and sipping a few mojitos tomorrow!
Data Today
EUR CPI - 9am GMT
EUR trade balance - 9am GMT
US empire state manufacturing - 12.30pm GMT
US TIC long-term purchases - 1pm GMT
we've seen some serious dollar strength lately and alot of long Euro, Cable and USDJPY positions been taken off. To top it off, we heard of IMF managing director Strauss-Kahn being arrested on saturday in New York and charges with several sexual assault offences. Doesn't look too good for the Euro to be honest!!
the Yen has been struggling to rally against the USD even though the dollar strength is quite significant. Seems like JPY strength is playing through on the crosses end as EURJPY and GBPJPY trade lower.
We do have some data to look out for today!!
Tomorrow is a public holiday for me as it's Vesak day ( Buddha's Birthday), so i'm going to be chilling by the pool and sipping a few mojitos tomorrow!
Data Today
EUR CPI - 9am GMT
EUR trade balance - 9am GMT
US empire state manufacturing - 12.30pm GMT
US TIC long-term purchases - 1pm GMT
Happy Trading!
FxTaurian
Thursday, May 12, 2011
back from an amazing vacation!
Hello fellow traders!
I've just gotten back this week from an amazing mini vacation trip which also included my best friend's wedding!
still suffering from a bit of a holiday hangover, so getting back into the markets taken me a bit longer. Definitely seems as though dollar bulls have been on a partying streak too, when i look at the charts!
Finally the Greece debt worries has pulled the Euro down, as well as the sell-off in commodities especially oil! I do see Euro approaching a strong support level at 1.4160, so lets see what happens there.
last night was the GBP inflation report which of course came out higher, which initially pushed the sterling higher on the market belief that a rate hike could take place in august. But that didn't last too long as the stronger risk sell-off movement pushed cable lower again.
there's data out tonight too, but does seem as risk-aversion is taking place. Do we see a trend change towards a dollar bull?
Data Today
UK industrial and manufacturing production - 8.30am GMT
EUR industrial production - 9am GMT
US retail sales - 12.30pm GMT
US jobless claims -12.30pm GMT
I've just gotten back this week from an amazing mini vacation trip which also included my best friend's wedding!
still suffering from a bit of a holiday hangover, so getting back into the markets taken me a bit longer. Definitely seems as though dollar bulls have been on a partying streak too, when i look at the charts!
Finally the Greece debt worries has pulled the Euro down, as well as the sell-off in commodities especially oil! I do see Euro approaching a strong support level at 1.4160, so lets see what happens there.
last night was the GBP inflation report which of course came out higher, which initially pushed the sterling higher on the market belief that a rate hike could take place in august. But that didn't last too long as the stronger risk sell-off movement pushed cable lower again.
there's data out tonight too, but does seem as risk-aversion is taking place. Do we see a trend change towards a dollar bull?
Data Today
UK industrial and manufacturing production - 8.30am GMT
EUR industrial production - 9am GMT
US retail sales - 12.30pm GMT
US jobless claims -12.30pm GMT
Happy Trading!
FxTaurian
Monday, April 25, 2011
Easter Weekend is over, and we're back into the trading week
That was
one extremely relaxing long weekend!! I hope all you traders had a great Easter
weekend!!
We still have
most of Europe on bank holidays so we’ll
probably see a thin market tonight until U.S opens.
Not much
happened during the weekend. China
laid low on their monetary policies and Europe
and U.S were closed on Friday for Good Friday.
ECB member
Stark repeated his opposition towards restructuring the greek debt and BOJ
Shirakawa has implied that the BOJ is not likely to take additional easing
measures at the policy meeting on Thursday.
We haven’t
got much data today, and most traders are anticipating the FOMC meeting later
this week!
Data Today
US
new home sales – 2pm GMT
Happy Trading!
FxTaurian
Thursday, April 21, 2011
Taking a peak at the yen today!
the USDJPY looks interesting today. Take a look at the daily chart!
As you can see there is a strong support level holding up at 81.43! apart from that massive movement (red candle when japan earthquake happened). This level has been strongly supported.
USDJPY also looks like it may hit towards that level today. I'm going to watch this level extremely closely today. But instead of looking at the daily chart i'm going to watch the 4 hour chart. If i see a candle close below 81.43 i'm going to hit a short for another break lower. If i see this level supported I'll hit a buy.
It is Good Friday tomorrow which means i'm on vacation! and Easter Sunday this weekend yippee!!
Happy Trading!
As you can see there is a strong support level holding up at 81.43! apart from that massive movement (red candle when japan earthquake happened). This level has been strongly supported.
USDJPY also looks like it may hit towards that level today. I'm going to watch this level extremely closely today. But instead of looking at the daily chart i'm going to watch the 4 hour chart. If i see a candle close below 81.43 i'm going to hit a short for another break lower. If i see this level supported I'll hit a buy.
It is Good Friday tomorrow which means i'm on vacation! and Easter Sunday this weekend yippee!!
Happy Trading!
FxTaurian
Quick update on my Euro chart attack - entered a buy!
So i kept watching the Euro chart and look what we have! a candle closed above 1.4502.
I entered into a long position when then next candle opened.
My Trade Plan
Long EUR/USD at 1.4518
stoploss: 1.4492 (10 pips lower than resistance level 1.4502)
when spot moves 50 pips up to 1.4568 i'll move my stoploss to breakeven at 1.4518
when spot hit 1.4618 i'll keep a trailing stop of 20 pips
Update
spot has breached 1.4568. I've moved my stoploss to 1.4518.
spot breached 1.4618 and kept a trailing stop of 20 pips
Got stopped out at 1.4621.
profit = 103 pips!
I entered into a long position when then next candle opened.
My Trade Plan
Long EUR/USD at 1.4518
stoploss: 1.4492 (10 pips lower than resistance level 1.4502)
when spot moves 50 pips up to 1.4568 i'll move my stoploss to breakeven at 1.4518
when spot hit 1.4618 i'll keep a trailing stop of 20 pips
Update
spot has breached 1.4568. I've moved my stoploss to 1.4518.
spot breached 1.4618 and kept a trailing stop of 20 pips
Got stopped out at 1.4621.
profit = 103 pips!
Happy Trading!
FxTaurian
Wednesday, April 20, 2011
Euro chart attack and an update on the Aussie chart attack
Look at the Euro today!!! pounced right back up!! spot at the moment is at 1.4506.
Looking at the 4 hour chart we see the Euro has breached the resistance level of 1.4502. Two things can happen here, Euro can move lower from here, or break the resistance level and head up.
My plan is to watch if the candle closes below or above this resistance level!
Update on the Aussie chart attack!
Last night Aussie did not reach my support level so i didn't enter into the trade. What a shame!!! looking at how high Aussie has run up today!
Looking at the 4 hour chart we see the Euro has breached the resistance level of 1.4502. Two things can happen here, Euro can move lower from here, or break the resistance level and head up.
My plan is to watch if the candle closes below or above this resistance level!
Update on the Aussie chart attack!
Last night Aussie did not reach my support level so i didn't enter into the trade. What a shame!!! looking at how high Aussie has run up today!
Happy Trading!
FxTaurian
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