Commodities continue to chop around trying to hang on to these high prices. We continue to expect them to move a bit lower in the near term as they consolidate the recent gains. Overall we are very cautious at this time as we have lots of volatility and little directional bias in the short term. …
TRADE CALL RECAP Our last live trade call was for the US Retail Sales report this morning. We were looking to long the GBP/USD if the number came out at least 0.3% worse than expected. The actual number came out with no deviation, so it did not meet our safe trigger. To see a video…
I am going to share a couple of levels with you today. Trade One First is the USDCAD, looking to buy around the 1.0120/30 area targeting a move back up to 1.0250. For intraday traders set a stop around 1.0075. Trade Two Second is the EURJPY. I will likely take a sell in the 160.30/50 area targeting…
TRADE CALL RECAP Our last live trades were on Thursday when we were watching the Canadian and US Trade Balance reports. I cautioned about trading the US Trade Balance as the Weekly Jobless Claims was coming out at the same time. Both Trade Balance reports met our safe triggers and we had several traders get…
TRADE CALL RECAP This morning we were watching the UK Industrial Production report, and looking for a safe trigger of 0.5% to enter a long on the GBP/USD. The actual number came out with a deviation of 0.2%, so we did not enter this trade. To see the video from this trade, click on the…
Trend analysis is an indispensable function of the successful Forex trader. Just like a good mechanic or carpenter, having the right tools in your toolbox will make all the difference in your ability to break down trends and trade in the direction of established trends. Following are some essential Forex trend analysis tools to include…
TRADE CALL RECAP Last Friday we were watching the Canadian Labor Change and the US Non-Farm Payrolls reports. Although there was some good movement on the currencies after the reports were released, neither of them met our safe triggers so we did not enter trades on either of these releases. We were looking to long…
This week we have BOJ, BOE, and ECB all announcing their own interest rate decisions. We expect BOJ and ECB to do nothing while BOE cuts rates. We do expect Trichet to be less hawkish in his tone this time around and that should take the idea of the Euro moving above 1.60 off of…
Commodities are trying to resume the rally and it may work. We expect to see commodities chop around the current levels for the next week of so while we put in a solid base. We had been looking for a much deeper correction to come in commodities but it now appears that call was premature. …
BANK FLOW WEEKLY RECAP As I said earlier in the week the new format makes it easier for us to track and report trades so here is the weekly recap on the Bank Flow. Despite a few losses (which are part of trading) we had a phenomenal week. 789 Pips total on closed trades!!! Several…
TRADE CALL RECAP Our last live trade call was this past Tuesday when we were watching the US ISM Manufacturing report. This report did not meet our trigger as we were looking for a 2.5 deviation or higher, and the number came out only 1.1 better than expected. To see the video of this trade,…
TRADE CALL RECAP This morning we were watching the Canadian GDP report. We were looking to short the USD/CAD if the report came out at least 0.2% better than expected. The actual number came out with a deviation of 0.1%, so it did not meet our safe trigger and we did not enter this trade.…