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16 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Tue Jan 15, 2013 11:52 pm

Monthly Summary:

Number of Trades: 23
Winning Trades: 18
Losing Trades: 5
Total Pip Gain/Loss: +1,194.1

Yesterday:

Image

Yesterday Pip Gain/Loss: +454.9


Image

16 Jan 2012 Daily review by myfxpedia.com:

16 Jan 2012 Daily review by myfxpedia.com:


There isn’t much news early in the week this week beside of what we already aware of. What interesting on the fundamental ground is that the US is facing with a probable of defaulting its debt repayment if the debt ceiling isn’t raise over the coming 4 weeks or so as Geithner had advise the President Obama that they are running on empty tank and possibly will stop dead in the middle of February if the issue of raising debt ceiling is not resolved. On the other side of politics, the Republicans are playing hard head with many of majority of Republicans publicly saying that they will let the country go into default if the Democrats not agreeing to cut Government spending. Oh well, market storm ahead folks.

Also, The other day we have ECB President Draghi projecting an upbeat tone on the Euro Zone and that send the Euro roaring to the upside – Fact is, we don’t know what he has for breakfast that day to actually believing that the Euro will soon see light at end of tunnel. Anyway, Yesterday we have the European Union President Juncker came out saying that EURO exchange rate is dangerously high – which in our view is true to the core – what is best for the Euro is to have a lower Euro so that they can attract investors which in turn will give their ailing economy a boost. And with that statement of President Juncker immediately send the Euro lower. Oh well, Draghi (Druggy) was probably on drug and feeling high and therefore higher Euro while Juncker (Junky) love to spend every cents and therefore sending Euro to junk. Joking.


Impact News today:

08:30 am (NY) USD – Core CPI
07:30 pm (NY) AUD – Employment Change; Unemployment Rate.

Trading Positions:


We are now in mid month of January and so far most of our trades turn fruitful, with another 2 weeks to go our aim is to this as a record month in pips gain. Our record currently stands at 1400 pips for the month of October and we are currently only another 200 pips short to take out that record.

Below are the charts of EURJPY on Daily, H4 and H1. You can also view the Weekly chart that we posted last Monday.

EURJPY – Daily

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EURJPY – H4


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EURJPY – H1


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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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

17 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Fri Jan 18, 2013 4:58 am

Monthly Summary:

Number of Trades: 25
Winning Trades: 20
Losing Trades: 5
Total Pip Gain/Loss: +1,306.5

Yesterday:


Yesterday Pip Gain/Loss: +112.4


Image

17 Jan 2012 Daily review by myfxpedia.com:


There wasn’t much movement yesterday in the FX market, most of the majors are trading in range as there were lack of news from Europe as well as US.

Today let take a look at what we call Commodity currency, AUD, and the health of the Australian economy that in our view is slowly in dire and thus a possible of Interest Rate cut coming our way in early February.

The last 2 weeks of news coming out of Australia isn’t at all rosy and early in the Asian session today the Employment rate was down, much worse than expected and that was evident on Chart as prices being knocked down about 50 pips as soon as news hit the market. Add on to that, a major Manufacture and construction company, Boral came out announcing of shredding 700 jobs as well as closing most of its plants in Sydney. Furthermore, the Retails and Manufacturing Association President came out saying: 2013 could be the year to make or break of the Australian Manufacture in Australia as higher AUD put lots of pressure on competitiveness of Australians goods. These news surely will wake up the Aussie politicians, especially, the Treasurer Wayne Swan who we think still have his head in the sand or stuck between his buttock.

If we look at the AUDUSD chart, over the past few sessions it has been trading in tight range, in short term we do not see it will change direction substantially but over the coming week, on the 23rd January when the Inflation number coming out we probably will see the big smart money start to pouring in. In our current view it’s going to head south.


Impact News today:

08:30 am (NY) USD – Building Permits; Unemployment Claims
10:00 am (NY) USD – Philly Fed Manufacturing Index
04:45 pm (NY) NZD – CPI
09:00 pm (NY) CNY - GDP

Trading Positions:


We have amended our pending order on EURJPY. We move it to Pending sell @ 119.16 instead of 118.35 as We want to be in position with the optimum probability since the pair is still in a strong trend and what we are looking for is the short term correction. So what we are watching is for Price to retraced and retest of the short term uptrend line and if we draw a short term downtrend line on H4, it happens that our current pending sell order is at about the intersection of 2 trend lines. Yes, Prices could even push higher to challenge the last high or even go a bit higher to actually created Negative Divergences before heading for a deeper correction.

Also, in so far over the last 2 weeks with handsome profits we just have to be selective with our trades and hold on to our wins as best as we can and therefore being conservative and selective on our orders is prudent. See chart below.

EURJPY – H4.

Image



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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

18 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Fri Jan 18, 2013 5:02 am

Monthly Summary:

Number of Trades: 25
Winning Trades: 20
Losing Trades: 5
Total Pip Gain/Loss: +1,306.5

18 Jan 2012 Daily review by myfxpedia.com:


The Bullish and upbeat market in the first month of the year is astonishing. The rise of the S&P yesterday has put on a new high that has not been seen in the last 5 years. The Bull surely has come roaring in folks. People are now talking about stocks, investing and many major outlets, medias are painting a very rosy pictures for 2013. You know what? That’s the first to get very worry about your investment. Remember, the medias are just reporting the views of these so call “guru” that belongs to the big institutions and these big players are often than not always have their hidden agendas.

Don’t get us wrong, we are not saying that the market is going to collapse overnight, not yet anyway. The way we see it is over the next 3 to 4 months many investors will be caught naked with a nasty surprise. Yes, maybe we are being too sceptical but we game enough to make that bold call . Through our experiences of many years in the markets we have seen this similarity of behaviour before so we just have to be cautious and trade wisely. Currently, we are at the turn at the market where majority of people has been holding tight to their wallets over the year and now seeing the sign of optimism many people would open their wallet to have a punt in the markets. Being saying that we noticed the bull or at least a mini bull is stepping up for a fight and no, we do not know or can tell you the exact date as when the bear will come out to wrestle this mini bull. So, just don’t go and short the market or banking on the rise of the USD as often majorities would seek for safe haven currency in time of turmoil. Remember this: Markets sometimes, behave much more irrational than your deep pocket can bear.

Yesterday, after the Japan’s economy minister came out making a statements that the Yen is still under correcting from being extremely overvalue for some years and that the priority of the current Japanese Government is to make an end to Strong Yen and deflation as its top priority. This has bolster the Yen once again and EURJPY has now cracked the 120.00 barrier; Bugger that. Anyway, we have been caught with our pending sell order that took us in yesterday and since next Tuesday the BOJ meeting and work on their 101 trillion Yen asset purchase programs and if the market smell and sign of the go ahead they will send the pair skyrocketing to 138.00, back to the high of 2008, 2019,2010.

So, since we have been caught short what we are going to do now is to scale down our stop and accepting the loss and will see what happens next week.


Impact News today:

04:30 am (NY) GBP – Retail Sales
09:55 am (NY) USD – Consumer sentiment.

Trading Positions:

Ok, As said above you will see from the chart I will use H1 to scale down our stop as this trade is now in our view does not given us a high probability so we will scale down our stop using the High of H1 and as long as lower high is formed we will keep lowering our stop until taken out and accept the loss on this trade.

EURJPY – H1.

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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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

22 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Tue Jan 22, 2013 6:07 am

Monthly Summary:

Number of Trades: 28
Winning Trades: 22
Losing Trades: 5
Total Pip Gain/Loss: +1,221.2

Yesterday:


Yesterday Pip Gain/Loss: +17.4


Image

22 Jan 2012 Daily review by myfxpedia.com:

Well there wasn’t much news yesterday to mention about and so most of the major currencies are ranging except for the Pound which face a downward pressure and fell , currently, only about 80 pips await from a stiff support. The falls has been excessive and oversold, at least in the short space of time. We think the pair is showing sign of bottoming out and ready for a retrace to the upside and then resuming its downtrend, at least, retesting the support (1.5750 there about) for confirmation of the Support. Notes: Since we had a breakout to the upside of 1.5750 level back in August 2012. That level since then has never been tested and so this time round this could be its first test.

On the fundamental fronts, with the heavy snows in the UK, many of the analysts, medias, suggesting this dampen weather could put the UK into a so called Triple – Dip Recession and so maybe that has actually put further pressure on the Pound. In Japan, the BOJ continuing its 2 days meeting and so the news could be at any moment. If the news is not what the market expected we probably see the start of the correction on the Yen. Look out folks.


Impact News today:

05:00 am (NY) EUR – German Economic Sentiment
08:30 am (NY) CAD – Core Retail Sales
10:00 am (NY) USD – Existing Home Sales
01:00 pm (NY) EUR – ECB President Speaks
07:30 pm (NY) AUD – CPI.

Trading Positions:

Yesterday we exited our short position on EURGBP due to momentum change in H1. We decided to exit the trade for a tiny profit, we are now putting on another pending sell order using chart analysis of H4 and H1. Below are the charts of H4 and H1.

EURGBP - H4

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EURGBP – H1

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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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

23 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Wed Jan 23, 2013 12:39 pm

Monthly Summary:

Number of Trades: 27
Winning Trades: 21
Losing Trades: 6
Total Pip Gain/Loss: +1,267.7

Yesterday:


Yesterday Pip Gain/Loss: +46.5


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-close-23jan2013.png"]Image[/url]

23 Jan 2012 Daily review by myfxpedia.com:

Ok, the so called Currency War has now started yesterday after the BOJ announcing of its determination to follow the US and devalue the Yen by Unlimited QE. So, basically we now have the US and Japan will go into full forces of printing ($) their way out of trouble. The winner will be the one that can lower its currency the quickest, just a shame, that many of the European countries that are financially troubled were unable to join in the race.

The announcement of an open-end QE from the BOJ yesterday gave a kick on knee jerk reaction as we see the Yen initially dropped but then recovered and actually gained strength throughout trading day. Well, the open-end QE will only kick start in January 2014 after the current QE in place lapse and so after the knee jerk reaction many of the Yen cross lost ground – so true for “Buy Rumour and Sell on Fact”.

Other new that were driving the market yesterday was also the Stronger than expected German Sentiment Survey which saw the reading jumped to 31.5 from 6.9 with expectation of only 12.00. But this was only survey, traders will look forward to coming Thursday for German Manufacturing PMI to confirm the Bullish Sentiment actually has any ground.

The Australian CPI new that release in the early Asian session today was lower than expected and the Aussie Treasurer Wayne Swan were quickly jumped on the new saying that, with the contained inflation has now given RBA room to cut interest rate on their first meeting of the year in February. The release of CPI and words from Wayne has increase the probability of further interest rate cut and we quick see the AUDUSD dropped 35 odd pips. Also, as China is Australian biggest trading partner, and tomorrow with China HSBC Manufacturing PMI to be released and if it show any sign of weakness in the data this will also add weight to the AUD and further strengthen the chance that RBA will cut rate in February.



Impact News today:

04:30 am (NY) GBP – Claimant Count Change; MPC Meeting Minutes
10:00 am (NY) CAD – BOC Monetary Policy Report; Rate Statement; Overnight Rate
11:15 am (NY) CAD – BOC Press Conference
08:45 pm )NY) CNY – HSBC Flash Manufacturing PMI.

Trading Positions:

We are now holding 4 pairs: Short EURUSD; EURGBP; AUDUSD and Long GBPNZD.

EURUSD - as for this pair What I am looking for is Wave 5 down on Weekly, on weekly it’s starting to show Prices Momentum Divergence and is trading at critical resistance zone. On Daily, we already have Continuous Negative Divergence and on Fundamental front it isn’t prudent for the Euro economy to have higher Euro and therefore We only look for shorts on Euro.

AUDUSD - level 1.0580 had been a stiff resistance for this pair which has been tested 5 times on H4 and with the bearish pressure as we approach February we probably will see this pair to
Pullback to 1.0350 support. As long as Resistance 1.0630 intact we only look for short on this pair.

GBPNZD – This pair is being oversold and is trading close to all time low Major Support and now in the process of forming the base. We will look for retrace to the upside with first target 1.9000

EURGBP – As from previous 2 updates we had been in and out of this trade twice base on H4 and H1. Yesterday we exit the trade and put on another pending sell limit which triggered our
Entry during Draghi’s speaks. So, we are now in this trade again for the 3rd time. Chart below.


EURGBP – H1

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-update-EURGBP-h1-23jan2013.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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

24 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Fri Jan 25, 2013 12:03 am

Monthly Summary:

Number of Trades: 27
Winning Trades: 21
Losing Trades: 6
Total Pip Gain/Loss: +1,267.7

24 Jan 2012 Daily review by myfxpedia.com:

The FX, particularly the risk currencies, has been trading what we called a non-directional behaviour. If we look closely we will see that traders are being cautious with the currency market. As from early January the Equities market has put on a stellar performance with fresh money coming into the market and yet the risk currencies don’t behave in tandem as they used to be. This kind of inverse relationship telling us that the correction or substantial pullback from the Equities market will soon happen and when that happen we will see the risk currencies like AUD, NZD, EUR will move lower as traders will seek for safe haven like USD and JPY.

As mentioned in yesterday update, we do think that the so called currency war has start with Central Banks trying to lower their currencies in order to boost their economies. We have the US keeps its printing machines running and Japan will also follow by January 2014 with unlimited QE, while smaller nation such as Czech Republic Central Bank, last week indicated that it would target a lower currency and the Swedish finance Minister want to see a weaker Krona. We also heard from the Euro Group Finance Minister, Juncker saying that the Euro is “dangerously high”. An indication of wanting to see the Euro lower in order to ease the growing recession in Europe. So, do not surprise to see the ECB coming out with any other means to curb the rise of the Euro. We believe that will be the case and will happen sooner rather than later, unless they rather stand idly on the sideline watching the Japanese slowly knock out their industry with cheap importing goods into Europe and do nothing. They surely will have to counteract with other Central Banks around the World to survive and so: Let the Currency War Begins.


Impact News today:

03:30 am (NY) EUR – German Manufacturing PMI
08:30 am (NY) USD – Unemployment Claims.

Trading Positions:

We still holding the pairs that we mentioned yesterday and today we would like to analyse on the GBPNZD pairs. This pair has been in a serious downtrend of late. The last 4 weeks has seen the pair shredding off over 1000 pips and has now entered into what we called Terminal Zone where stiff support of July 2011 and February 2012 low. Charts Below:

GBPNZD – Weekly


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-update-GBPNZD-weekly-24jan2013.jpg.jpg"]Image[/url]



GBPNZD – Daily


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-update-GBPNZD-daily-24jan2013.jpg.jpg"]Image[/url]


GBPNZD - H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-update-GBPNZD-h4-24jan2013.jpg.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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

25 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Fri Jan 25, 2013 3:58 am

Monthly Summary:

Number of Trades: 28
Winning Trades: 22
Losing Trades: 6
Total Pip Gain/Loss: +1,321.3

Yesterday:


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-best-trade-25jan2013.png"]Image[/url]


[color="#F4A500"]Yesterday Pip Gain/Loss: [COLOR="#2c6ba9"] +53.6
[/COLOR]


25 Jan 2012 Daily review by myfxpedia.com:


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-close-25jan2013.png"]Image[/url]




Like we said from yesterday update, what we are seeing now is the inverse relation between the Equities market and the Risk currencies. Usually when we have run on the Equities market the risk currency: AUD, NZD, EURO...etc will also push higher. This wasn’t the case of late and yesterday the Dow Jones crossing the 15000 mark for the first time since 2007 and yet the risk currencies are still trading in tight range.

What we observe from the technical perspective is that the Equities market are overbought and hype and that will soon be corrected and when we have the Equities market corrected we will probably see further bearish momentum on many of the risk currencies. From recent data release they are much seems rosy globally with China manufacturing is expanding at the fastest rate in 24 months and from the German Sentiment and Manufacturing PMI also improves and Yet the AUD which usually link to China activities wasn’t in a bullish mode at all, as a matter of fact, after a spike up of around 45 pips it soon gave it all back plus interest.

Interesting time ahead as February approach and if the market decided to have a little correction now then the risk currencies will have further to fall and if you are playing with the crosses instead of the majors then go Long with the country that has bigger economy.

In regarding to the Euro, once again 1.3400 proves to be a tough resistance yet, it won’t be a surprise see it pushes higher taking out all the Shorts at current level before heading back down, so, a break of 1.3400 level could sprint to another 50 to 100 pips to clear out all stops of people that went shorts, so, be careful not to fall victims of stop hunts by the big boys.


Impact News today:


04:00 am (NY) EUR – German Business Climate
04:30 am (NY) GBP – Prelim GDP
08:30 am (NY) CAD – Core CPI
10:00 am (NY) USD – New Home Sales.


Trading Positions:

We exited 1 of our last entry GBPNZD for a small gains and put another 2 pending Buy orders. Base on H4 we are currently being overbought and a pullback to either retest previous low or even push a bit lower and create a bullish Divergence on H4 before making a retrace to the upside. See chart below.

GBPNZD – H4


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-forex-daily-update-GBPNZD-h4-25jan2013.jpg"]Image[/url]
[/COLOR]

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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

29 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Thu Jan 31, 2013 9:07 am

Monthly Summary:

Number of Trades: 29
Winning Trades: 22
Losing Trades: 7
Total Pip Gain/Loss: +1,277.6

29 Jan 2012 Daily review by myfxpedia.com:

Last week we have seen the market was in a jovial moods with many of the indexes pushing up and mainstream media also talking up the market as well. Should this be the warning sign of what to come over the coming weeks? Maybe over the next 2 to 5 weeks we think a good correction in the equities market will eventuate.

Regarding to the currency market , traders was propping up the Euro to the level that we think will dampen the economic recovery for the Euro Zone. Let give this a bit of thought: here we have Central Banks around the globe is trying to devaluate their currencies to be able to compete globally and with the higher Euro how can countries within the Euro Groups compete? What can countries like Greece, Portugal, Ireland export beside, perhaps, maybe cheap labours ? and surely Germany would not like to see their manufacturing being taken over by cheap Japanese, Chinese goods. Yes, we agreed that the sentiment regarding Europe seems as though it has been stabilize but then the outlook for near to medium term isn’t at all positive: there is a debt crisis with countries within the Euro Group that has not been probably addressed and there isn’t any clear direction for economy growths for the group. Although, the ECB did said that it expect the Euro Zone to return to growth later in the year but did not elaborate as to how that can be done and yet, the German Economy Ministry last week came out and lower its 2013. So, there you have it, the ECB expect growth and yet the strongest economy of the Euro Zone isn’t carry the same view.

Anyway, over the next few weeks we will have the issue of Debt Ceiling in the US coming back to rattle the market and there is Italy Election by end of February and there is a hidden catalyst is waiting in the wing and that is China. As the newly elected Government in China appears to try to move away from its export driven economy to a more consumer base economy and the shift in policy as well as the asset, property bubble in China could eventually dampen the Chinese economy as well as sovereignty risk with its neighbour could also triggered uncertainty in the markets and with any of these events eventuate then watch out risk currencies, particularly the AUD could might as well goes below parity.

Impact News today:

10:00 am (NY) USD – Consumer Confidence.

Trading Positions:

Currently we are holdings a few positions and applying the daily cycles. Over the last 2 weeks we are only taking small positions and adding positions. Although We are in negative for the time been but do not let it deter you as the daily cycle will come over the coming days and once the correction kick in we are looking of at least 200 to 500 pips of correction on these pairs.

EURGBP – On Daily we have a complete 100% projection of Channel Duplication and with yesterday Gap Up could prove to be an exhaustion Gap so the pair will probably play around this region or a tad higher over the next few days before falling over and eventually will retest the uptrend line or retest of the breakout level. Note: Charts for EURCAD is also similar to EURGBP.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-29-Jan-2013-1.jpg"]Image[/url]

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-29-Jan-2013-2.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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

30 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Sun Feb 03, 2013 10:03 am

Monthly Summary:

Number of Trades: 29
Winning Trades: 22
Losing Trades: 7
Total Pip Gain/Loss: +1,277.6

30 Jan 2012 Daily review by myfxpedia.com:

Well beside the Euro and the Yen buck the trend there isn’t much movement decent movement around. What we have seen over the last week or so was the Equities market are pushing and pushing higher and the Euro tags along as well while the Pound and the Aussie has been heading south which is quite unusual. So, there must be a missing link and as we have been saying since the last 2 weeks updates: The Equities market is overshoot itself for the time being and correction as we sense, is just around the corner.

As from today till end of the week and leading into February should provides lots of trading opportunities as there will be more frequent and sensitive news flowing into the market that certainly moves the currency market. And if the correction eventuate as we suspect it will shortly over the coming week or 2 then the deep pullback from the Euro is not out of the question.
Impact News today:

10:00 am (NY)

08:15 am (NY) USD – ADP Non-Farm Employment Change
08:30 am (NY) USD – Advance GDP
02:15 pm (NY) USD – FOMC Statement
03:00 pm (NY) NZD – Official Cash Rate; RBNZ Rate Statement.

Technical Analysis:

We are still holding 4 pairs that we are trading with daily cycles and just be patient and do not over trade and do not using big lots size on these trades.

Anyway, today We would like to bring to your attention to the USDCHF pair. Base on H4 chart below the pair has made a zigzag retracement within the tight channel and prices currently sitting on the 61.8% Fibonacci support. There are 2 ways of playing this: One – looking for a bullish H4 candle formation (a bullish marubozu candle is most preferable) at around this level then enter Long for a retest of at least previous high. Two – we have a pending Buy order which is sitting a bit lower closer to the uptrend line, at about the intersection of the bottom of the channel and the uptrend line; here we had the support of the uptrend line and the Major support at around 0.9170 as price is being oversold and is we look and visualise H1 chart when price reaching this point it probably would create a Bullish Divergence on H1 and Stochastic would also in coming off from oversold and heading up which will go in tandem with H4. Charts below.

USDCHF - H4

[url=" https://myfxpedia.com/forum/myfxpedia/d ... CHF-H4.jpg"]Image[/url]

USDCHF - H1

[url=" https://myfxpedia.com/forum/myfxpedia/d ... CHF-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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

31 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Sun Feb 03, 2013 11:05 pm

Monthly Summary:

Number of Trades: 32
Winning Trades: 26
Losing Trades: 6
Total Pip Gain/Loss: +1,459.1

31 Jan 2012 Daily review by myfxpedia.com:

The Europhobia is now seems as thing of the past people as though majority of traders are joining in the ride on the Euro band wagon. Has it really turns the corner? We doubt that is the case, as a matter of fact, we took a contrarian view with this current market and said that the Euro Debt Crisis is just the tip of the iceberg. Sure, it looks as though the crisis has been stabilised but we now know that this was an easy fix such that, well, we had a debt crisis happening around the globe and the solution that these central banks came up with is printing more money and feed to the bank or just throwing/lending to troubled banks and problems will be contained. Well, guess what? The debt crisis is just an appetizer for Euro group at the moment and supper will soon be serve to the Euro Zone as they will soon face problem with economy crisis where high Euro will eventually dampen the recovery and when countries like Greece, Spain unemployment rate hitting the 30% mark then the catastrophic will take its toll. Remember, as for Greece Bailout they have agreed to stick to the stiff Austerity as agreed with the European Union so there isn’t much room for Greece Government to manoeuvre in spending to support its economy. So, the higher the Euro for the time being will be harder the fall once reality of fundamental catch up.

The rise of the Euro yesterday also supported by the fall in the dollar as the FOMC statement remains the same, the FED will keep printing $85 billion per month to support its economy, although last month some of the members in the FED panel did voice out that they are not happy with the ongoing printing of the dollar but that might just be the view of minority for time being. So, as long as there isn’t any major event risk happening and the FED keeps its printing machine running then the dollar will come under further pressure. Just wondering if anyone out there would think this is just part of their strategy that they use in the so called Currency War?

Impact News today:

08:30 am (NY) CAD – GDP
08:30 am (NY) USD – Unemployment Claims
07:30 pm (NY) AUD – PPI
08:30 pm (NY) CNY – Manufacturing PMI.


Technical Analysis:

Yesterday we exited all of our holdings on GBPNZD for a total of 251 pips profits as prices reached out TP1. We also got tapped out of EURCAD for 69.5 pips loss. We are now looking to re-enter GBPNZD with a pending Buy limit which currently only about 40 pips away from entry. Prices has been pulling back a 150 pips since we exited. USDCHF we entered yesterday came under the bearish pressure after the FOMC statement anyway, stop remains if it hits which is only 20 pips away, we will just have to cop the loss of 100 pips on this trade and will wait till all indicators line up again. Below is H4 chart of GBPNZD.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-31-jan-2013.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.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

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