TradeProfits

Trading Forex – EUR/USD Up or Down?

Posted on 23. Jun, 2011 by Jakob.

Taking a closer look at the latest price action on EUR/USD, further downside seems like a good possibility. From the 1-hour chat EUR/USD just made a new and fairly significant new lower low. Obviously the right thing to do, would be to stay on the sideline until we get confirmation of a lower high, and then trade the break of the recent low. However, with the new lower low, the break of the 1-hour bullish trendline along with a vague fundamental idea which is primarily based on yesterday FOMC statement where the chances of QE3 was downplayed.  Read more... (486 words, 1 image, estimated 1:57 mins reading time)

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EUR/USD – Change of Mind

Posted on 06. Jun, 2011 by Jakob.

After a wonderful weekend in Sweden, I am back and ready to take another look at the markets. Latest news if obviously NFP which came out last Friday, far worse than expected. Now clearly there are several other things which should be taken into consideration before we place a trade, but for now this changes my bias for EUR/USD for further upside. As I have said so many times before, after a rally like the one we have seen, a pullback seems very likely. But then again, looking at current price action, I would not be surprised if we continue higher without much of a pullback.  Read more... (202 words, estimated 48 secs reading time)

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EUR/USD – 1.4825 Coming Up?

Posted on 26. Apr, 2011 by Jakob.

Easter is over and we should start to see the market coming back to “normal”. Today is a fairly quiet day in terms of fundamental news releases. We have Consumer Confidence from US today, expected to come out at 64.6 compared to 63.4 previous releases; this release does not tend to move the market a whole lot unless we get a fairly good deviation. Now with the strong move back down on USD/JPY, this pair could be setting up for a possible long trade if we get Consumer Confidence with a deviation of 10.00 or higher to the upside. The picture below shows how USD/JPY reacted to a 12.3 deviations on Consumer Confidence back in May 2009. It gave an initial spike of 15 pips to the upside and about a 50% retracement within the first minute after the release.  Read more... (527 words, 2 images, estimated 2:06 mins reading time)

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Trading Forex – Daily Outlook April 4th

Posted on 04. Apr, 2011 by Jakob.

With the recent rally on EUR/USD a pullback seems natural, in spite of the possible rate hike out of ECB later this week. EUR/USD is currently trading around the 1.4231 level, and with heavy resistance just around 50 – 60 pips away from the current level, I think a possible short set´s us up with a good R:R ratio. However, wait for London to open and keep an eye on price action. We will only take this trade if things line up. With a possible pullback, I think we potentially could trade the reversal later today. Let’s wait and see how things unfold. Any possible trade will be posted on FB.  Read more... (112 words, estimated 27 secs reading time)

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Profit Mongers – Monday Trading Signal 01-31-2011

Posted on 31. Jan, 2011 by Sir Pipsalot.

The first week of the month just starting, and usually the most news to trade…here is the first.  Read more... (540 words, estimated 2:10 mins reading time)

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Weekly Outlook on the FX Market

Posted on 30. Jan, 2011 by Jakob.

I thought I would write an outlook for the upcoming week, and now, a couple of hours later, I am finally done. This sure did take me a bit longer than expected, simply because I was working with some new way to present this. So I emailed all my readers about an hour ago with the newly finished weekly outlook, and emails are starting to drop in with friendly feedback – Thanks guys. So if you are on my list, you should have a copy in your inbox by now. If not, you can grab a copy below, if you simply give me a tweet or facebook link. There should be some really good opportunities in the upcoming week, and all my ideas are posted in the outlook. I hope you guys find it useful. Let me know what you think.  Read more... (142 words, estimated 34 secs reading time)

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GDP – The Turning point for EUR/USD?

Posted on 28. Jan, 2011 by Jakob.

We will get GDP out of US in just around 30 minutes. I am patiently waiting for this release and hopefully we will get a better than expected release and we could be looking at a lot of possible downside on EUR/USD, in my opinion. If we get the numbers close to expectations or better I am looking to sell EUR/USD on any kind of pullback after the immediate spike, when spreads are back to normal. If we do get a worse than expected number, I will re-access the market and wait for things to back to normal, and then look for normal setups according to typical technical analysis. However, I hope we will get a better than expected release but we never know, so there is no reason to jump in on something premature here. Wait for the release and if we get a better than expected I see three really good options for now; Possible short on EUR/USD, Short on AUD/USD and finally a long on USD/JPY. The long on USD/JPY would also be supported by yesterday’s S&P cut of Japan’s sovereign debt rating from AA to –AA, along with the strong drop we have seen in the pair in the last couple of hours, could set that pair up really well for a bull trade. Let’s see what US will give us.  Read more... (259 words, estimated 1:02 mins reading time)

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Profit Mongers – Wednesday Trading Signal 01-26-2011

Posted on 26. Jan, 2011 by Sir Pipsalot.

Forex Trading Signals by Magister Pips, 2011/01/26
0430 BoE Meeting Minutes (8-1 vote count expected)  Read more... (248 words, estimated 1:0 mins reading time)

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Profit Mongers – Tuesday Trading Signal 01-25-2011

Posted on 25. Jan, 2011 by Sir Pipsalot.

Forex Trading Signals by Magister Pips, 2011/01/25
0430 UK GDP q/q prelim (0.5% expected,0.7% prior,0.2% to 0.7% range)

Affliated Reports:
UK GDP y/y final (2.6% expected, 2.7% prior, 2.3% to 2.9% range)  Read more... (339 words, estimated 1:21 mins reading time)

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The Week Ahead

Posted on 22. Jan, 2011 by Jakob.

Another week has passed and in spite of ending this week the first loss of all signals issued since the beginning of 2011, it has still be an exciting week with a lot of indecision in the market. However, we did end the week with the final push on EUR/USD closer towards the 1.37 level which will be a key area for a lot of traders. Now, with the break of recent highs, I assume we are looking at possible further upside on EUR/USD, and in general, probably a bit more downside to the dollar. Fundamentally speaking, I am a bit more indecisive at the moment. Sure the successful bond auctions is EUR strengthening, but besides from the recent disappointing retails sales I still think that dollar strength will be back in the picture within a fairly short period of time, all depending on future news releases obviously. With that being said, let´s take a look at some possible scenarios for the week ahead.  Read more... (703 words, 4 images, estimated 2:49 mins reading time)

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