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11 Apr 2013 Daily review by myfxpedia.com

PostPosted: Wed Apr 17, 2013 5:36 am
by Amelia
Project Summary :


Duration: 09 Months , 02Weeks
Number of Trades Total | This Month: ] 261 | 8
Winning Trades Total | This Month: 210 | 7
Pip Gain/Loss Total | This Month: ] +8569.3 | 846.5


11 Apr 2013 Daily review by myfxpedia.com:

Just a short note for today.

As said the other day, this bull market just refuse to lie down as seen yesterday S&P has now entering the uncharged territory and people are all hype up. What we see in this current environment is that it’s unsafe to long stocks or risk currencies at the moment. The way this bull has run and over the last few days has all the ingredients of a perfect storm in the making, from experience prior to crash/correction taking place market always spike as though if you don’t join you miss the bus and then when then out of blue you unexpectedly catch the flu because of sudden crash. We just do not buy into this bull market just yet, not until we see a good sizable correction in the equity market.

The theme and safest bet currently is shorting the Yen pair, that is buying into Yen cross on any sizable pullback as the BOJ has pledge to assassinate its Yen with its printing machines being turn on full force and this can only further weakening the Yen as days go by. The AUD yesterday was not deter at all with the unexpected Trade Deficit number came out of China. It power on taking out 1.05 resistance level. Many leading economics even see that the AUD will stay above 1.00 as long as the US competing with Japan in printing and Aussie interest rate stay above 3%.

You can’t keeping hold back the chuckles or amaze at how Politicians are keeping blind eyes or are totally in denial. What Japan did to their Yen is truly engaging in what so call “Currency War” and yet there are Politician(s) still don’t think that the Japanese’s Government are aggressive in manipulating its currency. Take Wayne Swan, Aussie Treasurer, who thinks the Japanese turning on their printing machines and print trillions does not necessarily mean they are manipulating the Yen. Oh, my God.....speechless.

We are currently under the water with many of our holdings but still manageable within our risk parameter. We will not adding more trades unless it’s is prevailing and from what we see, anytime now within the next 2 weeks we will see a sharp cycle turn. Due to circumstances we are currently relocating our main office, so don’t be surprised if we miss our daily updates from time to time for the next 3 weeks. Rest assure we constantly monitor our trades.


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

17 Apr 2013 Daily review by myfxpedia.com

PostPosted: Fri Apr 19, 2013 5:53 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 267 | 14
Winning Trades Total | This Month: 214 | 11
Pip Gain/Loss Total | This Month: ] +8665.5 | 942.4

17 Apr 2013 Daily review by myfxpedia.com:

At the start of the week last Monday we have got one of the biggest day drop in the Equity market as commodities take a plunge, especially the heavy 1 day sell off that has not been witness for a very long time. The sell off was initiated by one of the Hedge Fund selling big on gold yet the weekend news from Cyprus decision to sell its gold reserve to pay down its debt put even more pressure on to gold. Gold was in a freefall on Monday until 1320 before finding initial support. Is it time to long Gold? We doubt it is the time just yet; remember Cyprus has not even start cashing in their Gold Reserve. Poor Cyprus, some dark knight was just one step ahead of them and if they are selling their reserve now they will not get as much as they would have hope for if they were sold last week. Bargain hunters might find it cheap at this prices to buy into gold but the reality is this not over just yet and currently 1200 price tag is on the lookout if the Cyprus Government decides to liquidated the shine metals for cash as they are now truly in need.

As for the market, last Monday we saw risk off day in the S&P and risk currencies being trade lower, noticeably were AUD,NZD, CAD..etc. Although yesterday we have a good rebound as bargain hunters coming in but this in no mean that the correction is over, what we are witnessing is just the blip, a warning of what’s to come if market is not as rosy as the picture being painted by Central Banks around the globe then nervous investors will not hesitate to take action as seen last Monday.



Impact News today:

04:30 am (NY) GBP – Claimant Count Change; MPC meeting Minutes
10:00 am (NY) CAD – BOC Monetary Policy Report; BOC Rate Statement; Overnight Rate
11:15 am (NY) CAD - BOC Press Conference.


Technical Analysis:

Since mid February we have many times emphasizes that we are in entering the jittery phase of the market and advice our members to enter position with only small lots size and leave rooms for stop loss being hunt or taken out as long as our risk stay within the risk parameter. We do not fear of holding negatives before market turn and for many of our members that has been with us for a while have all seen this happens before and most of the time we come out winners and even set new record pips gain for the month. This style of trading has once again demonstrated to many of you this week; last Friday we were in negative and we received many emails regarding the drawdown being 8-10%. Yes we know it’s not a nice feeling to have when looking at the account but let us assure you that in anyone trading careers, as long as DD is below 20% with steady equity growth month after month then they are doing great job. Now, at the beginning of this week DD has been reduce substantially, less than 1%, and even exiting a few trades with average positive gains for the month. So far we have gained 942 pips for the month and if we are going to have a risk off days leading into the weekend we might even see ourselves breaking our own records pips gain before month end.


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

18 Apr 2013 Daily review by myfxpedia.com

PostPosted: Fri Apr 19, 2013 6:09 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 267 | 14
Winning Trades Total | This Month: 214 | 11
Pip Gain/Loss Total | This Month: ] +8665.5 | 942.4

18 Apr 2013 Daily review by myfxpedia.com:

We are definitely entering the most challenging market for traders with up and down like yoyo within a day and so far no definitive trend being set. The bear has come out last Monday but yet the bull just refuse to lie down and so we are still in the struggling mode between bull and bear and base on what’s happening over the last 3 months we believed for the 1st half of this quarter the bear will come out of hibernation with a vengeance so be very vigilant if you are long on Equities or long on risk currencies.


Impact News today:

04:30 am (NY) GBP – Retail Sales
08:30 am (NY) USD – Unemployment Claims
10:00 am (NY) USD – Philly Fed Manufacturing Index


Technical Analysis:

Yesterday we set a Sell limit on EURGBP @ 0.8650, we miss our entry by about 15 pips. Now base on our Daily chart we have set another Sell Stop on this pair if prices trade below yesterday low. we still keep the other order Sell Limit if prices decided to retrace from yesterday run down and if reach 0.8650 to take us in which will created continuous bearish divergence on H4 while on Daily we already have bearish hidden divergence. From Daily Perspective we can see that our TP2 that we projected since last February has not been reached. TP1 was reached and we had already booked profit last month and over last 2 weeks or so it has retraced to the upside of 61.8% Fib level and now has filled the Gapped created back on the 18th March and possibly has finished wave 2 and possibly starting a wave 3 down.

EURGBP – Daily


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-18Apr2013-EURGBP-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

19 Apr 2013 Daily review by myfxpedia.com

PostPosted: Mon Apr 22, 2013 6:31 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 269 | 16
Winning Trades Total | This Month: 216 | 13
Pip Gain/Loss Total | This Month: ] +8862.4 | 1139.3

19 Apr 2013 Daily review by myfxpedia.com:

Not much news today on the currency market do all eyes will look forward to German BundaBank President Wiedmann speaks, what would be his tones, hawkish or dovish and that normally would give a short term direction for the Euro. With the last few reports we doubt if Weidmann in anyway providing a slice chance of hawkish view if not to say he would probably lean to dovish side or at best try to be neutral.

So far from the Equity market, the major indices like Dow and S&P has found support at 14500 and 1500 respectively. While gold and commodity are under pressure and China recovery is not that all rosy of late and reporting season in the US with a fair share of companies miss expectation, an indication of the US is still not out of the wood just yet. That pose a question as to has the market been overshoot itself in the last 3 months. We think it did overshoot and why not? When you have all these Central Banks printing money like no tomorrow that create greed as investor/trader runs for grabs and so the economy has actually blossom on Central Banks debts.

Anyway, the behaviour of the market this week, although is erratic but if you are in the market long enough to see this sort of prices reaction prior to a deep sell off will take place. If history or prices pattern behave accordingly as to what we have seen many times before. We will definitely see a deep sell over the next week or two but in this race of money printing of Central Banks around the world there is no certainly of the pullback that we need to have as they might decide to print even more, bigger amount of money per month just to avert the correction. In our view that would be a suicidal.


Impact News today:

07:30 am (NY) EUR – German Buba President Weidmann Speaks
08:30 am (NY) CAD – Core CPI.


Technical Analysis:

Late NY session yesterday we decided to exit 3 positions on GBPNZD as we find it met Resistance so we expect the pair to retrace a bit before making another thrust upside. We exit 3 positions and has now add on another pending buy limit.

Our yesterday pending Sell Stop on EURGBP triggered and so we are now in a sell position, therefore we cancelled the other pending sell limit on this pair.

We also entered our Short position on EURUSD as base on Daily chart. Chart below.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-19Apr2013-EURUSD-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

22 Apr 2013 Daily review by myfxpedia.com

PostPosted: Wed Apr 24, 2013 6:38 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 269 | 16
Winning Trades Total | This Month: 216 | 13
Pip Gain/Loss Total | This Month: ] +8862.4 | 1139.3

22 Apr 2013 Daily review by myfxpedia.com:

It’s going to be a relatively quiet this week on the news front. What traders/investors will be looking at are the companies reports that is going into full forces this week. So far only one fifth of companies in the S&P reported their quarterly earnings and only 43% so far beat the forecast, so it’s not at all rosy for the US economy as many have hope for which give an indication to investors that companies are actually struggling to meet the top line.

From seasonal perspective that often happens around this time of the year that market usually pullback and that’s where we have the market phrase of “Selling in May and go away”. We don’t think this year will be of any different, add on to that we are currently experience softness in the commodities front, especially Gold that has been out of favour of late. The market can be side ranging for a while before making a plunge as many of traders are looking for excuse, for signs of weakness to put out the bull.

Another caution we like to make to our members is not to fall in love with the yellow metal just yet. Yes, it looks very cheap now compare to 6 months ago but remember “things look cheap but it can be cheaper”. Yes, we have an initial reaction from the market to throw out the yellow metal upon announcement of Cyprus that intends to sell their Gold Reserves in order to pay down debts and stabilise the country financially in turmoil. Remember, they have not sell any yet, not that we know if they have or have not but we are sure if and when they do we will hear about it and since we hear nothing yet therefore it is ok to assume that they haven’t. So, any bounce on the shiny metal to a certain level is an opportunity for Cyprus to unload their Gold and that certainly will create an oversupply of Gold in the market and thus, lower prices on the Shiny metal is a certainty. From charting perspective we will look into buying gold only when 1150 – 1200 is being tested and hold. In the worst case scenario it could fall as low as 1000.00 which is the major Resistance level that has been broken back in October 2009 and that has not ever been challenge as support.


Impact News today:

10:00 am (NY) USD – Existing Home Sales
09:45 pm (NY) CNY – HSBC Flash Manufacturing PMI.


Technical Analysis:

GBPNZD – We have many time saying that $NZD is overate and we still hold that view. Last week we collected 2 of our entries for profit and put on another Pending Buy limit. Our Pending Buy ordered has been triggered this early Asian trading session. Looking at H4 chart we can see that the pair is in the process of forming Inverted Head & Shoulders pattern. So, upon 1.8250 being clear and price closed above that level our target will be the inverse duplication of the inverted H&S which then bring us to about 1.8750 level. Chart below.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-22Apr2013-GBPNZD-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

23 Apr 2013 Daily review by myfxpedia.com

PostPosted: Wed Apr 24, 2013 6:44 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 271 | 18
Winning Trades Total | This Month: 218 | 15
Pip Gain/Loss Total | This Month: ] +9203.7 | 1480.6

23 Apr 2013 Daily review by myfxpedia.com:

The most noticeable new that came out of Europe yesterday was the newly elected President Giorgio Napolitano of Italy and the Euro react favourably to the news but soon lost its ground as trader soon realised that the newly elected President still have a mountain to climb to sort out the country Financial and Political basket case but then at least we now have a President for Italy that’s alone has somehow removed the political uncertainty for Italy.

Today on the news front we are focusing on Manufacturing front of the 2 largest economy of Europe, France and Germany and many leading economics do not expect much have change. The retail sales of Canada is also expected to be unchanged while the US new home sales data will be closely watch as this is an indication of how well is the country on its recovery path.

Later in the afternoon of US session or Early tomorrow Asian session we will have the New Zealand Official Cash rate which is also expected to be no changed.

Impact News today:

03:00 am (NY) EUR – French Flash Manufacturing PMI
03:30 am (NY) EUR – German Flash Manufacturing PMI
08:30 am (NY) CAD – Core Retail Sales
08:45 am (NY) CAD – BOC Governor Carney Speaks
09:00 am (NY) USD – New Home Sales
05:00pm((NY) NZD – Official Cash Rate; RBNZ Rate Statement
09:30pm(NY) AUD - CPI


Technical Analysis:

This morning we realised another 2 positions on GBPNZD and now put another pending buy limit order. The reason for exit was base on H4 and H1 charts which is extended so a minor pullback is a possibility. It might not pullback to the level that we have our pending buy order and just consolidate sideway to ease the momentum before making another thrust upward.

Currently we are only about 20 pips away from setting another record month of pips gain and our current holding positions is less than 1% drawdown, so it’s all good and since this is the last week of the month we will be selective and minimise our open positions.


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

24 Apr 2013 Daily review by myfxpedia.com

PostPosted: Tue Apr 30, 2013 4:15 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 273 | 20
Winning Trades Total | This Month: 220 | 17
Pip Gain/Loss Total | This Month: ] +9290.6 | 1567.5

24 Apr 2013 Daily review by myfxpedia.com:

Again not much impact news driving the market today. Looking at yesterday price behaviour, particularly on the Euro when we had manufacturing reports for France and Germany. France came out with a better than expected manufacturing compare to last month but Germany, the largest and the driving force behind Euro came in worst than expected and the Euro took a 180 degree turn to the downside as oppose to the initial reaction when the French manufacturing report came out.

While still in the Euro Zone we have the Swiss National Bank reiterated that it will defence the 1.20 EURCHF, that is will buy Euro to hold down its CHF in order to support its manufacturing. This in turn push the USDCHF north.

The Reserve Bank of New Zealand this morning decided to hold rate steady at 2.5% and that has put in a support for the NZD. The CPI report from Australia was also relatively mute with not much change. If the CPI came in with less than 2% then we will have a better chance of rate cut next week and as of today it stands 50/50 chance. In our opinion if the RBA are going to take a pro active roll then they will use this chance, while the Aussie is lower than last month, to actually cut rate which then will push further downward pressure to the AUD, maybe to parity or even lower. If they are not going to do that and just sit on the fence playing game of wait and see then we will soon see the AUD start to appreciate much higher.


Impact News today:

04:00 am (NY) EUR – German Business Climate
08:30 am (NY) USD – Core Durable Goods Orders
04.15 am (NY) CAD – BOC Gov Carney Speaks.


Technical Analysis:

As of today we have set a new record monthly pips and our holdings are at about just over 2% drawdown so it’s all good.

Early this morning our pending Buy order for GBPNZD @ 1.8035. Although prices came down as low as 1.8013 yet, due to spread early in the morning Asian session at around the time of our broker end of day shut down, the wide spread and end of day market close for Axi broker so our Order is still pending. If any of you with different broker and has your order filled then good on you because you should be sitting on profit on that order as of now.

Yesterday we re-entered EURGBP at 0.8540. See chart below.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-24Apr2013-EURGBP-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

26 Apr 2013 Daily review by myfxpedia.com

PostPosted: Tue Apr 30, 2013 4:25 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 273 | 20
Winning Trades Total | This Month: 220 | 17
Pip Gain/Loss Total | This Month: ] +9290.6 | 1567.5

26 Apr 2013 Daily review by myfxpedia.com:


The current market condition is just so annoying, the agitation of traders looking for market direction must have been frustrating especially over the last 10 trading days or so. Just like yesterday when we have Spain announcing its unemployment rate has raised to a record 27.2% which was just ignore by market participants and push the Euro up early in the day during Asian session. This was due to the immediate news of German Chancellor Merkel saying that raising interest rate by the ECB would be good for Germany. For whatever the reason that Merkel was base on we think she must probably had just smoking pot prior to coming out with such ludicrous statement. We have France’s unemployment also hitting fresh high and Spain at record high and crippling nations like Greece, Cyprus, Portugal, Ireland, Italy and now there even talk of Slovenia might just as well throws in the towel, moreover, German manufacturing has been sliding at an alarming rate and here we have Merkel saying raising interest rate is good for Germany....damn, can we have what she have had?

Anyway, during the London and NY open there were more speculation of Euro under downward pressure when Goldman Saches forecasted the ECB to cut rates by 25 basis point. Market then reacted to the news and sent Euro down over 50 pips immediately on the news. It seems that Euro is at the cross road on rate decisions so one minute we have a Pollie coming out saying rate cuts another minute we have another Pollie saying hand on, maybe rate rise would be of better choice. For Christ sake, make up your mind Pollies.

Over to Japan, we had CPI that once again fell 0.5%, this is the 5th straight month of falling CPI. So, maybe it’s too soon to know if their action by crank up the press is working or not but a month has pass and currently it’s not working. They are targeting 2% inflation so maybe they will have to crank up the press harder, printing more Yen to push spending – yeah folks spend your Yen now before it become dirt cheap.


Impact News today:

04:00 am (NY) CHF – SNB Chairman Jordan Speaks
08:30 am (NY) USD – Advance GDB Price Index


Technical Analysis:

Before we go into our trades let us take a look at performance for this month as month end approaching. Since we went public back in July 2012, Nine months into the business we have so far achieved consistent pips gain on a monthly basis:

August’12 – 878 pips
September’12 – 1035 pips
October’12 – 1432 pips
November’12 – 938 pips
December’12 – minus 186 pips
January’13 – 1492 pips
February’12 – 1174 pips
March 2013 - 828 pips
April 2013 - ? (as of today stands at 1821 pips and just over 1% drawdown on)

Image


Image


So, for the last 9 months we only have 1 month of negative pips gain and as of today and for the last 9 months we have make a total of 9412 pips gain, about another 600 pips we will reach our 10,000 pips gain for the year. We think that we are doing reasonably ok and we are happy with that. Hope you all do too. Cheers.

Now back to the trade we took yesterday: AUDNZD – Yeah, we know, we probably hear some of you saying: NZD AGAIN? Yes, folk, NZD again. Well, we have the legendary George Soros shorting millions of dollars on the Yen months before it is corrected. He spot the Yen was overrated and do not mind of being contrarian to the majority by shorting the Yen early. Well, unlike the billionaire legendary George Soros but we do believe the NZD is also overate. The last 2 or 3 months the NZD was overpowering if not to say it was the best performance currency among the so call risk currencies. It’s certainly overvalue in a country with population of just over 4 million with major industry is Farming and Tourism. So, a small country with high currency and not much of heavy industries will soon find itself in trouble when their goods can no longer compete with other nations that have lower currency. In this current environment where the currency war is gathering speed, the best way to destroy an economy is to push its currency as high as you possibly can.....just look at Japan and South Korea. South Korea was enjoying their low WON for so long and so their manufacturing, the like of Hyundai, Samsung, LG....etc. were blossom on the cost of Japan high currency that hurt Sony, Hitachi and many well brand cars manufacturer.

Anyway, let get back to our technical on AUDNZD.

AUDNZD – Weekly

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-26Apr2013-AUDNZD-Weekly.jpg"]Image[/url]


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-26Apr2013-AUDNZD-Daily.jpg"]Image[/url]


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-26Apr2013-AUDNZD-H1.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

29 Apr 2013 Daily review by myfxpedia.com

PostPosted: Tue Apr 30, 2013 4:46 am
by Amelia
Project Summary :


Duration: 09 Months , 03Weeks
Number of Trades Total | This Month: ] 277 | 24
Winning Trades Total | This Month: 224 | 21
Pip Gain/Loss Total | This Month: ] +9545.0 | 1821.9

29 Apr 2013 Daily review by myfxpedia.com:


We are now entering the last week of the April and this week it’s going to be the Euro focus especially on Thursday where we will have the rate decision from the ECB and what level they think is appropriate for the Euro Zone. Will they follow Merkel’s suggestion and support Germany as the strongest economy of the Euro Groups by raising interest rate as seen by Merkel is good for Germany? (she must have been on cracks or some sort we reckon) Or, will they follow market consensus and lower rate by a quarter of a percent (25 basis point)? Or are they going to take a no man land decision by stay idly neutral and keep rate steady?

Out of the 3 options above we think the first option is extremely less likely to happen and so it leave us with just only 2 options and currently the bias is lean more to a rate cut of 25 basis point.

Also, this week we will have the FOMC statement on Wednesday and Friday is the Non-Farm Payroll that most traders will closely look at. Base on the recent weakness reports the past 2 weeks or so, the chance of winding down the QE program is relatively mute but what traders will look out for is how the wording in that statement which potentially can rock the markets.

Looking further ahead into early next week going to the Down Under, the RBA is going to hand out its rate decision next Tuesday. The Aussie has been coming off over the last 2 weeks due to softness in commodities prices. We had mention a few weeks back that if the RBA is serious about lowering the Aussie dollars for market competitiveness and to save its bleeding manufacturing sector that is slowly shutting down and goes off shore. This is the time they have to take action and play a proactive roll and take this opportunity while the Aussie has been weak over the past 2 weeks to push it further south by lowering rate below 3%, a cut of 25 basis point will do the job. On the other hand if they decide to play a game of fence sitting, just wait and see sort of thing, then, fellows, do not be surprise to see the Aussie power to 1.0350 or even 1.0500 very quickly.


Impact News today:

10:00 am (NY) USD – Pending Home Sales
09:00 am (NY) NZD – ANZ Business Confidence


Technical Analysis:


EURUSD - we have been in and out of this pair twice last week with a tidy profit and last Friday our Pending Sell order trigged again. From the chart below, H4, you can see that after the one day fall on 17 April this pair has been trading in a tight range creating a symmetrical triangle. On technical perspective, this pair lean to downside bias with a clear structure for a 5th wave down on Daily. Charts below:


EURUSD – Daily

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-29apr2013-EURUSD-daily.jpg"]Image[/url]


EURUSD – H4


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-29apr2013-EURUSD-h4.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

1 May 2013 Daily review by myfxpedia.com

PostPosted: Fri May 03, 2013 6:29 am
by Amelia
Project Summary :


Duration: 10 Months , 01 Weeks
Number of Trades Total | This Month: ] 277 | 0
Winning Trades Total | This Month: 224 | 0
Pip Gain/Loss Total | This Month: ] +9545.0 | 0

01 May 2013 Daily review by myfxpedia.com:


It’s kind of mind boggling about yesterday prices movement on the FX market. We had bad data from Euro and good data from the US and yet, the USD went south while Euro went north. We were scratching our heads and wondering has the world been turning upside down on its head?

First, data from Euro zone were disappointing, from consumer confidence fell, Italy unemployment fell, even though, the Euro zone unemployment rate being stead it still points toward nothing has been done to improve the unemployment. Moreover, we also have the inflation reading of 1.2% for April. Now most leading economist forecast a reading of 1.6% and the ECB has its target of 2% and so with the weak inflation number would have point out the more possibility of a rate cut on Thursday. Anyway, traders/investors ignored on that and push the euro higher, is this a fake bull, a bull trap before disaster happens or traders/investor just give a hoot about rate cut, as they see a 0.25% rate cut just do no good for the Euro ailing economy anyway. If that is people perception then the ECB has to come out with a bazooka tomorrow to surprise everyone and keep the lower Euro to gain market competitiveness to support its declining manufacturers.

Secondly, traders/investors just banking on the FED will keep cranking up that printing machines of $85 billion every month and no sign that it’s going to end any time soon and so they just ride the wave of cash splashing by the FED to cushion the market.

Thirdly, could this be the fake move by market makers to trap people in and to clean out scalpers with tight stops? Ah well, that’s what we can only come up after scratching our head, pulling our hair just to make sure we are not standing on our head.


Impact News today:

04:30am (NY) GBP – Manufacturing PMI
08:15am (NY) USD- ADP Non-Farm Employment Change
10:00am (NY) USD – Manufacturing PMI
02:00pm (NY) USD – FOMC Statement
09:30pm (NY) AUD – Building Approvals.


Technical Analysis:


Another Pending Sell Limit Order triggered last night. This order we had put in about 10 days ago and now we are live with NZDUSD Short. Base on Daily chart we can see after a heavy sell down back on the 15 April this pair has move in range and yesterday gave a solid breakout touching our Sell Limit order. Although the momentum is overbought this still could push higher to challenge previous peak or even push over that to create false break and a Negative Divergence before a big run down taking place and that’s the reason we entered with a small lot size and wide stop to avoid being stop hunt by MM.

NZDUSD – Daily


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-01may2013-NZDUSD-Daily.jpg"]Image[/url]


NZDUSD – H4. Let look at H4, we can see that we already have a negative Divergence and Momentum overbought and prices at currently stands at around 72% FIB level retracement. Usually on this level of retracement is what we call the Terminal Zone but from the Daily Chart this could still push higher to run stops before making a serious down move.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-01may2013-NZDUSD-H4.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.