Tag Archives: forex trading
Trading Forex – Perfect 1.3440 Retest – Now What?
Posted on 29. Nov, 2011 by Jakob.
For those of you who read today’s outlook had an idea I was looking for a possible short around the 1.3440 level. Unfortunately I wasn’t able to place a trade today once the level was reached but if you did, this would have been close to a perfect trade. The level was spot on as solid resistance, and the pair is now trading back down at the 1.3330 level. So basically the pair is right back at the same level as where it started the day. So where do we go from here?
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Trading Forex – A bit of Possible Upside
Posted on 29. Nov, 2011 by Jakob.
In yesterdays post, I mentioned a possible setup for a short trade. We took a short trade at 1.3374 and if you got in on this trader, there was a possibility to grab around 90 pips in total. As we did have an initial 50 pip stop loss, I was hoping for a bit more and chose to move my stop loss to break even, but we had a strong pullback during the Asian session, and the trade is now close to the entry level. I hope you had a chance to grab some pips from this trade.
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Trading Forex – EUR/USD – Upcoming Week
Posted on 27. Nov, 2011 by Jakob.
Trading Forex can be a tough challenge and specially in days where volatility seems to be over the top. During such times, we need to remind ourselves how important it is to plan your trade and trade your plan. Read todays outlook and know what to look for in tomorrow’s trading session.
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Storm Warning In Effect
Posted on 23. Nov, 2011 by Jakob.
Two days ago, I received an email from Oanda with the following subject: Forex Market Volatility Advisory.
“Prior to the 2008 recession there was a sharp increase in exchange rate volatility. Three years later we are witnessing another dramatic uptick in currency price instability—this time triggered by the eurozone debt crisis.”
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EUR/USD – Rate Cut and NFP Later today
Posted on 04. Nov, 2011 by Jakob.
If you followed the idea on EUR/USD posted here on the latest post, you should have been able to lock-in somewhere around 100 – 140 pips as the price action of EUR/USD on the day of FOMC played out well in accordance with technical key levels. Yesterday however, I tried to short EUR/USD, and in spite of the fundamentals released yesterday, the pair continued to rally throughout the end of the US session so we took a hit on that one.
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Trading Forex – EUR/USD Before FOMC
Posted on 02. Nov, 2011 by Jakob.
As mentioned in yesterday’s post, we do have a bunch of high impact fundamental news releases scheduled for the rest of the week, so we are likely to see a very volatile market. It can definitely be argued that this is not the right week to focus on technical setups but nonetheless, we do have a couple of key levels to pay attention to. With this being said, make sure that if you do take any trades, keep your risk level low and make sure to use hard stop losses!
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Strong Moves and Lots of News
Posted on 01. Nov, 2011 by Jakob.
After a couple of days relaxing in Barcelona, I am back in the game and we sure did have a crazy start to the week so far. BOJ intervention, MF Global bringing fear into the market, RBA cutting cash rate, NFP coming up on Friday along with a bunch of high impact news releases scheduled for the rest of the week.
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Trading Forex – Cable Upside?
Posted on 05. Oct, 2011 by Jakob.
As mentioned in yesterday’s post, I think we are likely to get a pullback on EUR/USD before we see continuation to the downside. One reason why this might be the place, is partially due to the USD index coming close to the 200 EMA which tends to hold as a strong level of support and resistance. Now if the USD index will bounce on this level, USD crosses are likely to be affected from this.
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Trading Forex – EUR/USD More Downside?
Posted on 22. Sep, 2011 by Jakob.
Yesterday in the beginning of the US session we did see some upside on EUR/USD, trading all the way up to the 1.3800 level, which probably was partially due to some pre-sentiment before the rate decision and press conference, as well as recent talk about the next aid tranche for Greece.
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Trading Forex – EUR/USD & Greece Default
Posted on 13. Sep, 2011 by Jakob.
With the recent rumors about Greece Default we have seen some downside in EUR/USD. Currently the pair trades around the 1.3675 level. Now as always, after a move down like the one we have seen here, there is a good chance of a fairly strong retracement before we see further downside.
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