So far USD/JPY has shot to 79.48 from a low of 75.57 and the pair looks like it will push higher after the Ministry of Finance chomps through another set of sell orders around 79.20. Officials may take aim at 80.00 but based on the comments out of Japan, a Swiss-like peg doesn’t sound likely.
What also [...]
USD longs versus CHF (at 80.12) and JPY (at 77.92) on July 27. Stopped out of both trades on July 29 July 29. Result: -60 pips
Entered with stops at 79.82 (30 pips) and 77.62 (30 pips). Greatest open loss: 30 pips. Greatest open gain: CHF +34 pips; JPY negligible
I entered this pair of [...]
Entered USD/JPY short at 79.21 on July 4. Added July 21 at 78.49. Exited July 25 at 1.0627 (+120 pips) and July 27 (+42 pips). Result: +168 pips.
Entered with stop at 79.56 (35 pips). Greatest open loss: zero pips Greatest open gain: ~200 pips
I entered this trade on my expectations of problems with [...]
Our base case is for a bounce in stocks and USD after a debt ceiling deal is reached. We see a 90% probability of a deal before markets open on Monday and we will continue to trade in that direction.
Our trades were working for us until late in the session Thursday when sentiment worsened [...]
Not long ago, Geithner was pronouncing the US would never lose its top rating but now the market is in the process of pricing in a downgrade. The S&P 500 fell 2% to 1305 on Wednesday and is the process of putting in its worst weekly performance in almost a year. The consensus is that the [...]
It’s getting more difficult to avoid insults and hyperbole when describing the debt ceiling imbroglio. Surely you haven’t stumbled here looking for a recap of the day’s news so I’ll spare you the exercise save for a few thoughts. 1) On Tuesday it actually appeared that debt ceiling talks were moving backwards. 2) the real [...]
My initial impressions on news that Obama and the Senate have agreed to a framework on the debt ceiling are here: http://ashraflaidi.com/forex-news/
As a trader, I want to use the positive sentiment that has built up here to sell USD/JPY. The pair is trading at 79.21 and that will be my entry point. [...]
The FXButton Newsletter
TagsAUD AUD/CAD AUD/USD Bank of Canada BOC bonds cable CAD canada chf debt ceiling Deflation disinflation dollar EFSF EUR EUR/USD euro fed forex forex analysis forex news forex signals forex trades forex trading tips FX_Button gbp/usd gold Greece JPY nzd Papandreou politics RBA RBA Preview S&P 500 SPX stocks technical analysis trading diary trading tips USD USD/CAD USD/CHF USD/JPY