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2 May 2013 Daily review by myfxpedia.com

PostPosted: Fri May 03, 2013 6:44 am
by Amelia
Project Summary :


Duration: 10 Months , 01 Weeks
Number of Trades Total | This Month: ] 283 | 6
Winning Trades Total | This Month: 227 | 3
Pip Gain/Loss Total | This Month: ] +10345.7 | 800.7

02 May 2013 Daily review by myfxpedia.com:


Our first milestone has been achieved much earlier than we have expected. Currently we just surpass our 10,000 pips gain in the period of 10 months, although we still holds 5 opens positions at time of writing and even though they are in negative but it’s all within our Risk parameter, at the moment we are holding with just above 1% drawdown. So, cheers to all.

Yesterday we see the equity market is under pressure, the S&P failed to break previous peak. This market is currently very fragile and as we mentioned over the last few updates, this market is being fed on Central Banks QE. The evidence can be seen if we look closely into the sectors of the market: on the normal economy recovery we often see the Industrial, Technology and Manufacturing being the market power house to drive market higher. But, guess what? Not this time around, the market recently being drive up by what we call the defensive stocks, such as Healthcare, Consumer Stables. It’s defensive due to the nature of higher and stable dividends.

In summary we currently experienced an invert market sentiment this time around, that is on normal practice people would only invest in defensive stocks when they expect the market is going to be lower and not higher like what we currently see and the only reason for such twist is because of the QE program in place. So, now we are having defensive stocks trading at significant premium to the overall market and yet the general economy fundamental do not stack up as we see from yesterday news from CNBC that Private Sectors employment has dropped significantly (This can correlate to the fall in USD).

We are not saying that the high is already set, what we are saying is this could be the high for sometimes or false breakout that will set the temporary new high before a deep correction taking hold.

At 7:45 am N.Y time we will have the ECB rate decision which currently widely anticipate or a rate cut and if the ECB really serious in keeping the Euro low to get the market competitive edge then they should come out with something big or at least surprise the market....yeah, Mr. Draghi the druggy with the bazooka will certainly spook the market.


Impact News today:

03:15am (NY) EUR – Spanish Manufacturing
04:30am (NY) GBP – Construction PMI
07:45am (NY) EUR – Minimum Bid Rate
08:30am (NY) CAD – Trade Balance
08:30am (NY) EUR – ECB Press Conference
08:30am (NY) USD – Trade Balance; Unemployment Claims
09:30am(NY) AUD – PPI.


Technical Analysis:


Yesterday we exited all our GBPNZD pairs for a total average win of over 700 pips. The reason for the exit is as follow. It has taken much longer than anticipated for the retrace to the upside and base on H4, H1 we have breakout from the ascending triangle and at time of exited, momentum indicators are at extreme and so we decided to exited and put in a fresh pending buy limit.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-02may2013-GBPNZD-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.

03 May 2013 Daily review by myfxpedia.com

PostPosted: Sun May 05, 2013 11:16 pm
by Amelia
Project Summary :


Duration: 10 Months , 01 Weeks
Number of Trades Total | This Month: ] 288 | 11
Winning Trades Total | This Month: 229 | 5
Pip Gain/Loss Total | This Month: ] +10404.9 | 859.9

03 May 2013 Daily review by myfxpedia.com:


OK, just a quick update for today, last day of the week and first week of the month and guess what? Last month we set a new record of monthly pips gain and now just in the very first week of the month we already banked 859 pips and currently having 2 open positions with less than ½% Drawdown. We are comfortable with that and so we suggest you too should take a day off from the desk, have a relax day, have a long weekend, go out and enjoy times with your family, there much more life out there to experience and fulfil rather than Forex.

Beside, today is a big news day for the month, the Non-Farm Payroll, unless you are trading the news as one of your strategy we highly recommend you to take a day off.

Just to recap of what happens yesterday, Like we mentioned in yesterday update that is unless the ECB bring out the bazooka to surprise the market to be able to keep Euro down because a rate cut of 0.25% won’t do the job. That’s exactly happened last night if you noticed the prices action such that when new came out with a rate cut of 0.25% as widely expected, the Euro went up and dance around the 1.3200 area. It’s only start moving south when the ECB start the conference where super Mario Draghi (the Druggie) opening his mouth and show the market that he still have and carrying the bazooka in his sleeve and stands ready to fire if need to. This bazooka of his is that the ECB will, if need be, apply Negative Rate deposits, oh yeah, you will be tax if you put your saving in banks, great, and although he only said so without actually apply that instrument yet but that’s enough to spook the market and south it went. But after 4 hrs of heading south prices was quickly found support and have been trading sideways for the last 12 hrs or so (if you look at H4 chart) at around the prices we exited last night. We actually think that the euro will not heading south with any meaningful drop unless something drastic happens within the Euro Groups and Traders will properly trying to push it higher, testing super Mario to see if he is true to his words just like the SNB of Swiss in defending the CHF against Euro. So, unless super Mario de “Druggie” lit up his bazooka EUR will just stubbornly stay in range.


Impact News today:

08:30am (NY) USD – Non-Farm Payroll; Unemployment Rate
10:00am (NY) USD – Non-Manufacturing PMI.


Technical Analysis:


No Technical for today, Enjoy your weekend and ready for the battle comes the second week of May


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.

06 May 2013 Daily review by myfxpedia.com

PostPosted: Mon May 06, 2013 10:55 pm
by Amelia
Project Summary :


Duration: 10 Months , 01 Weeks
Number of Trades Total | This Month: ] 288 | 11
Winning Trades Total | This Month: 229 | 5
Pip Gain/Loss Total | This Month: ] +10404.9 | 859.9

06 May 2013 Daily review by myfxpedia.com:


Welcome to the First day of 2nd week of May. Last Friday we advised you all to take a day off from trading yet, we just couldn’t help ourselves after the NFP news hit the market, especially when our Pending Limit orders triggered. As soon as we got alert that our orders are in the market we then constantly monitor the trades and within 1 hr we closed those open trades for almost 200 pips and as of now it seems that was a right decision. Early in the month of May yet we have already net 999 pips, so, let us raise the bar and look forward to set another new monthly record.

Back to the market, in general, the Equity market on Friday pushed to a new high with most of the indices are now over extended. Can it push higher? Definitely it can, but the push higher will further extended and the market will coming to the exhaustion phase. As we has mentioned many time before such that the rally has now being long for a decent pullback, on top of that this rally does not stack up with the fundamental of the general economy. Most and many of private companies do not get or even meet the general expectation of the market and being riding high on the back on defensive sectors in which traders/investors will on put their money in those defensive sectors when they think the market is heading lower, not higher. In this case we are having market standing on its head laughing at the FED cranking up the printers. This, surely cannot be stable.

Tomorrow, the Reserve Bank of Australia (RBA) will come out with Interest Rate decision. Currently there is a split of 50/50 chance of a rate cut among leading economists. From all the data we have seen lately over the last 2 weeks it would prompt for a rate cut, especially with the recent inflation reading of only just above 2% rather than 2.5%. Moreover, the drop in the mining investment, soft commodities prices and the China recovery is not at all that great. So, if the RBA is going to play a proactive roll then we expect a cut is on tomorrow but if they still stubbornly sitting on the fence and play game of wait and see then we will have rate on hold again tomorrow. In our view, we do expect them to play a proactive roll and give us another 0.25% cut and drive the Aussie down lower and if rate is on hold then do not surprise to see the Aussie back above 1.0400 or even 1.0500 over the coming days.


Impact News today:
08:30am (NY) CAD – Building Permits
09:00am (NY) EUR – ECB President Draghi Speaks
10:00am (NY) CAD – PMI
09:30pm (NY) AUD – Trade Balance.


Technical Analysis:


We are currently in AUDNZD and GBPNZD that triggered last Friday.

This early morning we put another pending buy limit for AUDNZD at 1.2015, the prices came as low as 1.20122 but because due to spread in the early Asian trading session our pending order did not trigger. If you are with ECN or with other Broker(S) that triggered the trade then please be mindful that you are to manage that trade yourself. Our pending order still stand at 1.0215, so if you like you can now ext the position for 18 pips profit (at time of writing) and reset the order like ours.

GBPNZD – base on H4 prices is currently at support and short term uptrend line support as well. Also we have hidden bullish divergence and momentum cross over from being oversold. Chart below.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-06may2013-GBPUSD-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.

7 May 2013 Daily review by myfxpedia.com

PostPosted: Tue May 14, 2013 11:30 pm
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 291 | 14
Winning Trades Total | This Month: 232 | 8
Pip Gain/Loss Total | This Month: ] +10,544.8 | 999.8

07 May 2013 Daily review by myfxpedia.com:


Most of the major currencies yesterday just ranging in a tight range on daily charts, the only currency that had a sizable move lower is the AUD. It’s either traders are factoring in the bigger chance of a rate cut today at 2:30pm Sydney time or the rumour ring true that the legendary George Soros is shorting the Aussie. We have doubt on this rumour but you can read it here from the Sydney Morning Herald: http://www.smh.com.au/business/markets/is-soros-shorting-the-dollar-20130506-2j3nr.html

Base on what we have seen in the past – the RBA like to sit on the fence and play catch up, they rarely act proactively but this time, maybe, because of the low inflation figure came out last month and the action of the Japanese Government to push their Yen lower and the ECB, Draghi trying his best to talk down the Euro and so, this time, we said, maybe it’s going be a game changer for the RBA as they will take a proactive roll and at least stuck their foot in the door of the so called Currency War.

Over the Euro Group we have the ECB saying that they will examine the EU data closely over the course of next week and if necessary they will act again – this can be understood that the ECB will go for negative rate on deposits. Well, unless they come out with something big, the Euro wont slip below the 1.3000 for long. Fundamentally the Euro Group cannot be on a healthy economy recovery while the EURO is strong. If the Euro is staying at the level they are or push any higher the whole Euro nations will be flush with over-sea goods in no time and that will slowly kill their already ailing Manufacturing and Export sectors.


Impact News today:


12:30am (NY) AUD – Cash Rate; RBA Rate Statement
03:00am (NY) CHF – Foreign Currency Reserves
05:00pm (NY) NZD – RBNZ Financial Stability Report


Technical Analysis:


The market is ranging and we are now in 2 open AUDNZD positions and 1 GBPNZD and they are currently just trading in a tight range. We are of believe that the Kiwi is overrated and that have got to be corrected. It is currently building a top and we just have to be patient for the cycle to take shape. The AUDNZD has now entering what we call Terminal Zone and the pair has been oversold, yes it still can push lower but it will not be a deep and we are of the view that any push lower is an opportunity to go long.


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.

8 May 2013 Daily review by myfxpedia.com

PostPosted: Tue May 14, 2013 11:58 pm
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 291 | 14
Winning Trades Total | This Month: 232 | 8
Pip Gain/Loss Total | This Month: ] +10,544.8 | 999.8

08 May 2013 Daily review by myfxpedia.com:


Not much high impact news for today and unless something that is unforeseen happens we expect the FX market to be relatively quiet. It seemed the rumour were spot on regarding Soros shorting the AUD 2 days before official rate announcement. As according to the rumour Soros spent some 18 million dollars shorting the Aussie to net a cool 60 million dollars. Well done George

Yesterday the RBA dropped 25 basis point to bring the official cash rate to 2.75% and hinting that the RBA is stand ready to drop rate further if the Australian economy deteriorate further. Four hours later after the rate announcement from the RBA the Governor of New Zealand came out saying that the Kiwi is significantly overrated and guess what? Governor Wheeler isn’t just the man of talk only, as it now has confirmed that the Reserve Bank of New Zealand has officially intervene in the currency market(you can read it here http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10882325&ref=rss . This is exactly the case that we have been saying and did exactly that over the last 3 months. Although our timing wasn’t as meticulous as George Soros but we have had make goods out of short the NZD somehow and has now further confirm our strategy where we have to incorporate the fundamental knowledge with technical and sound risk management, the rest will take care of itself.

Impact News today:

03:15am (NY) CHF – CPI
06:45pm (NY) NZD – Employment Change; Unemployment Rate
09:30pm (NY) AUD – Employment Change; Unemployment Rate


Technical Analysis:


Overnight we have banked 443 pips to bring our monthly pips gain to 1441 pips in the first 8 days of this month. Well done team, you all deserve a pat on the back. Cheers.

We are currently only hold 1 position with a +135 pips. We now move our stop to protect our capitals and extend our target to 1.2375.

If you recall from our analysis yesterday on this pair where we said that this pair has now entering the Terminal Zone and the downside is limited. This again hold true as prices pop down 70 pips at time of EBA rate cut announcement it quickly retrace to the upside and we has no hesitation of adding position into that drop which once again prove fruitful. Lets’ examine the charts:

AUDNZD – Weekly

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-8-may-2013-aud-nzd-Weekly.jpg"]Image[/url]

AUDNZD – Daily

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-8-may-2013-aud-nzd-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.

9 May 2013 Daily review by myfxpedia.com

PostPosted: Wed May 15, 2013 12:13 am
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 296 | 20
Winning Trades Total | This Month: 238 | 14
Pip Gain/Loss Total | This Month: ] +10,986.0 | 1,441.0

09 May 2013 Daily review by myfxpedia.com:

Equities market climb higher again overnight with most of the indices around the globe set new records on volume-less market. This is what we call exhaustion move, it will push and push and then by the time you know it, Bam, it crashing down. This is usually the case if you look back in history: before every crash we always have similar spike up and looks as though if you are not in you miss the bandwagon. But, this time could it of any different? The different is that this time, and is the first time in history that the Government, Central Banks are directly involve in the Financial Markets where the FEDs, Central Banks Printing money like no tomorrow just to support the economy from collapsing and there is no sign of them stopping doing this sort of practice in any near future. This will eventually create prices bubble and we all know giving times all bubbles will burst.

The Euro is currently stuck in range of 1.3000 and 1.3200 any push higher will be a headache for Draghi and last week he did say that the ECB will not hesitate to go negative rate on bank deposits if economy deteriorate. Surely, high Euro cannot be sustained if he really want to revive the Euro Zone ailing economy.

Overnight, New Zealand report with a rise in Employment to 1.7% versus estimate of 1.1%. This gave strength to the NZD but traders are cautious of not to push the NZD much too high as we had intervention from the Reserve Bank and since details of form of intervention has not been release to the market this put 2nd thoughts on any NZD bull as what’s stopping them from intervene again. Now the RBNZ also has other option and not of direct intervene is to lower interest rate. The problem is they are stuck in the dilemma because of the heat up property market in New Zealand with an average home prices has been rising up to 10% in the last 12 months. So, in actual of fact the RBNZ should have raise Interest Rate, not lower, in order to cool down the rising home prices. But if they raise Interest Rate it will add more strength to the Kiwi which in turn will hurt the economy. So, the only way for them to act to devalue the Kiwi is to directly selling the Kiwi, intervene in the FX market.

Three hours after the employment report from New Zealand we had employment report that beats the market expectation by over 4 times: Market expectation of a number of 11.5K and the actual number was 50.1K. Unbelievable, this is the 2nd time that market expectation was way out. Either the leading economics are incompetent or there is a misreading by the Government officials. Anyway, news like this has give the Aussie a good comeback from the last few days bleeding.

Impact News today:

04:30am (NY) GBP – Manufacturing Production
07:00am (NY) GBP – Asset Purchase Facility; Official Bank Rate
08:30am (NY) USD – Unemployment Claims
07:50pm (NY) JPY – Current Account
09:30pm (NY) AUD – RBA Monetary Policy Statement


Technical Analysis:

With the good employment number from the Aussie and the over the last 8 weeks the Aussie against Kiwi has been oversold and so we expect this pair to retrace to the upside over the course of next week or two. We therefore will hold on to the trade a bit longer. It’s ok folk, this pair has positive swap.

Let take a look at the Euro – on the Daily chart, the pair is trading in a sideway range with downside bias, if you are trading the Wave then this pair is in the process of forming the top of wave 4 before the next leg down for wave 5. If it can break the 1.300 to the downside we will look for the revisit of previous low. from the charting perspective the upside is limited and on the fundamental perspective, a high Euro will dampen the Euro Zone economic recovery.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-09-May-2013-EUR-USD.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.

10 May 2013 Daily review by myfxpedia.com

PostPosted: Fri May 17, 2013 5:01 am
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 298 | 28
Winning Trades Total | This Month: 240 | 16
Pip Gain/Loss Total | This Month: ] +11,061.3 | 1,516.3

10 May 2013 Daily review by myfxpedia.com:

Overnight the market bulls blinked for the first time this week after rumours that the FED might considering winding up the QE. Commodities, Bonds, Equities and all major risk currencies that peg against USD took a dive. This is exactly what we have been saying it all along over the last 2 months if you have follow our update regularly. This bull market at this stage is very fragile and it has been soldier on by Central Banks cranking up the printing press to support the economy. They have been doing this for the last few years and now or very soon they will face another problem that they themselves created. They have create prices bubbles and if this problem is not to be address soon this bubble burst is going to be too big to fix. This prices bubble and the state of the current bull run is becoming very fragile as evidence by overnight rumour.

Elsewhere, the talk of Currency War is slowly emerge as being real although they all denying it and always come up with reason for their action in driving down their currency. Lately we have the RBA lower interest rate at record low and South Korea also cut their interest rate to offset Japan aggressive devaluation of the Yen and the RBNZ also joins in to directly intervene in the FX market to lower the Kiwi. So, now we are having 3 Central Banks that is willing to do direct intervention to devalue its currency, Japan is one that has been famous for this and the SNB which openly stated that they are committed to defend the 1.2000 level of the cross EURCHF and now we have the RBNZ. It looks as though the RBNZ will follow what the Swiss National Bank and defend the Kiwi peg against the AUD at 1.2000 level also. If one noticed prices action of the cross AUDNZD the day before such that as soon as price went below 1.2000 mark the RBNZ quickly step up and push the pair above it. Their action is understandable since Australia is its biggest trading partner and high Kiwi will definitely favour the Aussie on international trading scale: why do you have to buy goods from NZ for when you can get the same thing from Australia and on international scale, it is cheaper to ship goods from Australia than from New Zealand.

Impact News today:

08:30am (NY) CAD – Employment Change; Unemployment Rate
09:30am (NY) USD – FED Chairman Bernanke Speaks.

Technical Analysis:

Yesterday we cut short EURUSD, in hindsight it was a wrong decision because 3 hours later the pair dropped another 100 pips. We exit the pair just 1 hour prior to impact new release from the US and looks for re-entry at the optimal higher prices. We did not get the push up that we were looking for instead we left 100 pips on the table. Sorry folks.

We also exited USDCAD long for 53 pips profit and look for re-entry on retest of yesterday low. Today is the last day of the first week of May and we have so already bank 1516 pips. Only another 310 pips away from setting another monthly records. Well done team.

We are currently in 2 pairs AUDNZD Long and GBPUSD Short and is in positive territory, zero Draw Down.

GBPUSD – on Daily chart below you can see prices has formed a 3 waves down and a 5 wave sub-wave to make up Wave4 and prices is trading within a channel. So, if the wave is playing out then we should start to have wave 5 down. Our target 1 is at the duplication of the channel break down and TP2 is the retest of previous low.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-10-May-2013-GUB-USD.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.

13 May 2013 Daily review by myfxpedia.com

PostPosted: Fri May 17, 2013 5:37 am
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 298 | 28
Winning Trades Total | This Month: 240 | 16
Pip Gain/Loss Total | This Month: ] +11,061.3 | 1,516.3

13 May 2013 Daily review by myfxpedia.com:

Not much high impact news for today except for an all day Euro Group Meetings and Retail Sales from the US and New Zealand. What we have seen last week is the strength in the USD as traders are seeing improvement economic condition in the US and there is a scope of possibility of cutting back the QE or even terminating the QE in the US all together in a very near future. So, if the US is to cut short its QE program as compare to England and Japan then the USD will certainly gain more upside momentum.

Impact News today:

08:30am (NY) USD – Core Retail Sales; Retail Sales
06:45pm (NY) NZD – Retail Sales


Technical Analysis:

We are now in the mid month of May and is about 170 pips away from setting a new monthly record pips gain. We are now only holding AUDNZD, 3 positions, at about breakeven level. This pair is currently building a base and with the New Zealand government isn’t shy away from direct intervention, as we seen last week when the pair went below 1.2000.

Nothing we have to add for today as it is still early in the week and as like every first day of the week it’s going to be slow so we see you all tomorrow for more update.


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.

14 May 2013 Daily review by myfxpedia.com

PostPosted: Fri May 17, 2013 5:52 am
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 298 | 28
Winning Trades Total | This Month: 240 | 16
Pip Gain/Loss Total | This Month: ] +11,061.3 | 1,516.3

14 May 2013 Daily review by myfxpedia.com:

A sideway ranging market is getting bored and testing every traders patient and if you are not discipline and patient you will get stuck in the whipsaw action that’s eventually send you in agony and demoralise your spirit. It is best of all not to be triggered happy. Don’t let the whipsaw action chimp away your account. Be patient and let prices come to you, at your pre-determine entry level. Be discipline and be patient and most of all give the FX market the respect that it deserves.

On the Equity market front we still have the Indices that is still hovering at all time high and look extended. We of the opinion that this thing will go for a short squeeze before fall out of bed. what we mean is that most trader will look at this as being extended just like us and so would position themselves with short positions. It will to be their surprise to see the market will get another shot higher to take out all the shorts and might even trap new buyers coming into the market afraid that they will be left behind and before they know it, we have a correction. So, do not get suck-in with this much extended move.

Now what and how do we, as FX traders position ourselves and ready for this event when it happens? We will look to be buyer of the USD on weakness and seller of risk currencies such as Pound, Euro, AUD. On the AUD front we can see that over the course of last week AUD was heavily shorted and so it won’t be surprise to see a short squeeze on the AUD over the coming days, that is, AUD will retrace to the upside before another leg down, potentially toward 0.9600. The same scenario for NZD on this instance and we would say the same set up will also play out for the Euro and the Pound. We just got to look out for the optimal entry when the correction is taking place.


Impact News today:


05:00am (NY) EUR – German Economic Sentiment
05:30am (NY) AUD – Annual Budget Release



Technical Analysis:


We have nothing to add at this stage as we have not add on any new positions and we will patiently wait for price to come to us with our pending orders. We will not chase prices and try our best to hold tight onto our pip gains that we have gain so far this month.


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.

15 May 2013 Daily review by myfxpedia.com

PostPosted: Mon May 20, 2013 5:26 am
by Amelia
Project Summary :


Duration: 10 Months , 02 Weeks
Number of Trades Total | This Month: ] 298 | 28
Winning Trades Total | This Month: 240 | 16
Pip Gain/Loss Total | This Month: ] +11,061.3 | 1,516.3

15 May 2013 Daily review by myfxpedia.com:

What will drive the market today is the growth numbers (GDP) from Germany, Euro Zone, Frances and Italy and also the Inflation report from Great Britain and Canada Manufacturing number.

What has been happening over the last month or so is that we are witnessing a change in market condition in which we have to get use to and adapt. What we seen in the past 3 years was the inverse relation between the Equities market and the USD and the prices action of the last few weeks this relationship isn’t hold true anymore. If you follow the market with commentary of such “risk on” “risk off” you will know what the likely direction is for the USD if we have a “risk on” day, right? Well, if we have a “risk on” day then risk currency were likely went north while USD head south and vice versa.

Nearly the last few weeks this wasn’t the case anymore, what has been happening now is that we have Equities market go up and so is the USD while the risk currency such as GBP, AUD, Euro are all heading south. Why is this sudden change of sentiment or condition in the market? We suppose that traders are now seeing genuine recovery in the US economy and with the rumour of FED might cut short its printing program and so there is a genuine strength in the USD going forward. So, basically traders will now look out to see who will be the first the stop the QE, is it Great Britain or US or Japan which is a long way off so that left us with Great Britain and US and base on the recent data coming from US and Great Britain we would have to say it is more likely the US will be the first to exit its QE program.

Base on that sentiment as well as recent economic data we will look to be buyer of USD on weakness.


Impact News today:


02:00am (NY) EUR – German Prelim GDP
04:30am (NY) GBP – Claimant Count Change
05:00am (NY) EUR – Flash GDP
05:30am (NY) GBP – BOE Inflation Report; BOE Governor King Speaks
08:30am (NY) CAD – Manufacturing Sales
08:30am (NY) USD - PPI



Technical Analysis:


Last night we went short on EURAUD base on H4 chart of continuous bearish divergence and after 10 hrs past the pair did not make any significant move to the downside and base on H1 price action it seems that this pair still have another leg up, possibly, retest of previous high or even go a tad higher and run stops on the short before retrace to the downside. Note, with the current weakness in the AUD this pair can still actually push as high as 1.3500 -1.4000 even though, on Daily it is overbought and a bit extreme. It has been going north for the last 7 weeks without any meaningful pullback. With this pair is about to enter our Terminal Zone we will look for Shorts play only.


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.