myfxpedia : Daily Signals and Strategies

[Amelia]

Project Summary :


Duration: 07 Months , First Week
Number of Trades Total | This Month: 217 | 1
Winning Trades Total | This Month: 173 | 1
Pip Gain/Loss Total | This Month: +5737 | 17


01 Feb 2012 Daily review by myfxpedia.com:

First day of the month and the Euro just keep marching on, just astonishing. Technically, the pair is way overbought and correction is overdue couple with that is the fundamentally the Euro Zone is screaming for lower Euro not higher if they seriously want to see a healthy recovery. At this current rate we would be a seller of the pair and not chasing the price in buying into this pair at current level. We will continue to accumulate in small lots sizes, we only need to be in with small lots size because of the higher it push the bigger the fall and this pair is also swap positive for going short.

With yesterday announcement the US unemployment claims came out slightly above expectation this put downward pressure on the dollar, in turn, trader pushing the Euro through 1.3600 barrier. Earlier today during Asian trading session we had the release of Australian PPI which came below expectation and China PMI also came below expectation and the news has put further downward pressure on the AUD. Now next Tuesday we will have Rate decisions for the Aussies and with the high AUD of late has came off the boil since last week we may assume the current prices has in part factor in of possible Rate cut for next week and if next Tuesday the RBA decided to keep rate on hold then we might see a retraced toward 1.0500 very quickly and if the global economy looking gleam then a Rate cut would further send the AUD lower. We will look out for next Tuesday on Rate decision.

During London open today we will have GBP manufacturing PMI which if below expectation will surely put further pressure on this oversold currency of late. So, we will now exit our GBPNZD for about 20 pips profit and will set for a pending Buy order at lower prices in case of a spike down on news. A spike down on news in an way oversold currency could as well prove an opportunity to pick up on cheaper entry.

Well, you all probably been tired of us keep warning you of the approaching correction in the financial market and frankly we still hold on to that view as a matter of fact, with this bullishness and overshoot Equity market we do smell a rat somewhere so no, we do not buy into this market bullish perception, not until we have a decent corrections. Some of you might ask what should we do and how do we approach the FX market once correction kicking in. Well, we will look to buy into USD, JPY, sell the risk currencies such as Euro, AUD, NZD and if we play with the Cross currencies we will look to buy into currency with higher GDP against country with smaller GDP.

Impact News today:

04:30 am (NY) GBP – Manufacturing PMI
08:30 am (NY) USD – Non-Farm Employment Change; Unemployment Rate
10:00 am (NY) USD – Manufacture PMI.


Technical Analysis:


We end the month with a record pips collected for the month of January, although, we still holding on to pairs that we plan to trade with daily cycles. Even though, we are currently in about minus 700 pips but we have been through this path many times before and each time it happens we usually set a new record month. So, finger cross that February will be the month of another new record in the making.

USDCHF – yesterday it came down and retested the low that was set back on 2 January 2013 then bounced up, the situation now looks as though it has formed a double bottom with a Bullish Divergence on H4. Our stop is 15 pips below the last low. We just got to be mindful that today during NY session we are having a Non-Farm payroll announcement which normally moves the FX market. So, our stop stay @ 0.9060. Chart Below:


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-02-Feb-2013.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , First Week
Number of Trades Total | This Month: 223 | 6
Winning Trades Total | This Month: 178 | 6
Pip Gain/Loss Total | This Month: +5927.0 | 207.0


05 Feb 2012 Daily review by myfxpedia.com:

Firstly, we would like to say sorry for not having yesterday update due to our service broker (AsxiTrader) doing maintenance and changing from Australian Server to US server on the weekend and we have a bit of hiccups on Monday when we first log in. We sincerely apologised for that.

Last week we have a bullish Equity markets that seen the Dow Jones shooting past the high that was set back in 2007 and the Euro touched 1.3700. It was amazing to phantom that the Euro Zone has abruptly got out of trouble at start of the year, such is the work of spin doctor Mister Draghi. Well it seems like so if you look at the Euro dollars or at least traders/investor bought and brought into that view and that the Euro dollars now looks as like a safe haven currency.

Oh well, yesterday things were put in reverse and we have the first biggest 1 day decline for the year as the Equity market as well as the Euro gave up most of its gained last Friday. It’s not surprised to see the pullback after a strong run at the beginning of the year and also Traders are getting nervous as of what Draghi have to say on this coming Thursday regarding the Rate decision. If he still put up a hawkish tone then we probably will see traders buying into that again and push the Euro higher but if this time round he set a dovish tone then we might see the Euro to come off further. Add on to that, from yesterday news we now have Spain which now has over 26% of unemployment rate and for the month of January alone it added 2.7% of unemployment – that’s spell trouble not better. Next to Spain we have Italy where the “Bad Boy” or should we call “The Lady Man” - Berlusconi is gaining traction on political front and so it seems that the Euro crisis and uncertainty is once again or about to, come around haunt traders/investors.

In approximately 2 hours time we will have the RBA rate decision, many institutions think that Rate will remain unchanged, as often the RBA do not play a proactive role they probably will stand on the sideline and see what’s going on around the globe being taking action. But note, if they decide to cut rate, and we of opinion think that they should, then the AUD will crash lower as that would be an unexpected news. So look out for AUDUSD over the next few hours.

Impact News today:

04:30 am (NY) GBP – Service PMI
10:00 am (NY) USD – Non Manufacture PMI
07:30 am (NY) AUD – Retail Sales.


Technical Analysis:

Last Friday we were caught out with unexpected exuberance of the market that we think have no fundamental backing to it. It could have been a truly bull market has finally arrive and traders/investor was chasing the market afraid of being left behind, OR, it could be stop hunt by market makers . We chose to believe it was the later and we did widen our stop to the maximum that we could possibly taken and that could as well took our draw down up to 10%. Another reason we did that was because of our broker is changing server on the weekend and comes Monday we might experience difficulties when logging in. So there were a possibility of not being able to follow the market when opens we chose to have done so.

Now we might have a correction starting (especially the Euro) but as prices pullback there will be traders that would look to buy the dips and traders that miss out on previous run will cramp to get on as they do not want to miss out again. We will not buy into that, not when we had a Daily Engulfing candle yesterday and bearish Divergence on Daily as well as being overbought. We will look for prices to retrace on H4 to maybe ½ way of the Daily bearish candle or retest of previous peak to go short.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-Project-500-pips-a-month-05-Feb-2013-01.jpg"][/url]

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-Project-500-pips-a-month-05-Feb-2013-02.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , First Week
Number of Trades Total | This Month: 223 | 6
Winning Trades Total | This Month: 178 | 6
Pip Gain/Loss Total | This Month: +5927.0 | 207.0


06 Feb 2012 Daily review by myfxpedia.com:

Tomorrow we will have the ECB rate decision and most surveys reckon that rate will be on hold for the Euro Zone. It will come down to what Draghi, President of the ECB has to say, would he still stick to his hawkish view that was hold last month or would he rather take a dovish tone this time to stem the appreciation of the Euro amid the Euro crisis that threaten to flare up again comes end of February with the election in Italy and the Corruption allegation around Spain President Rajoy and moreover, countries around Europe have not adding enough jobs, as a matter of fact, Spain’s unemployment had spike to over 26% and that is not a good sign at all and if it ever happen when Spain or any other country, unemployment rate hit over 30% then they will have to throw in the towel. If Greece’s unemployment reaches that level we would expect Greece’s Government will ask for the exit door out of the Euro voluntarily; they just have to, to be able to survive because to stay in the Euro they have to stick to strict Austerity plan that drawn up for them and surely they just could not do what the American and UK did: printing your way out of trouble.

Yesterday the Reserve Bank of Australia put rates on hold but with economy showing signs of weakness of late the RBA Governor Glen Steven had lean to a dovish tone and signal that they stand ready to cut rates down the track. Early tomorrow Asian trading session we will have the Aussie releasing the Unemployment Rate and about 3 hours ago we had the Australia Retail Trade that falls short of expectation and if unemployment rate to be release tomorrow also fall short of expectation then we expect a rate cut in March.

Impact News today:

10:00 am (NY) CAD – PMI
04:45 pm (NY) NZD – Employment Change; Unemployment Rate.
07:30 pm (NY) AUD – Employment Change; Unemployment Rate.


Technical Analysis:

From yesterday chart on the EURUSD the prices now has retraced and stall at around 50% (1.3585)of previous leg down (H4). At around here if it formed a big Red candle and trade below previous low then expect for another fall of around 250 pips. Refer to yesterday chart.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-Project-500-pips-a-month-05-Feb-2013-01.jpg"][/url]

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-Project-500-pips-a-month-05-Feb-2013-02.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , 02 Weeks
Number of Trades Total | This Month: 225 | 8
Winning Trades Total | This Month: 180 | 8
Pip Gain/Loss Total | This Month: +5997.7 | 277.7


07 Feb 2012 Daily review by myfxpedia.com:

Today and tomorrow we expect lots of volatility in the FX market as there are flush of news going to hit market during London and NY opens. Traders will watch news from the Euro, most analysts expect the ECB will leave rates unchanged. It won’t be the rate decision that will drive the Euro, unless they unexpectedly cut Rate, what traders will look for is what the ECB President Draghi has to say. Would he try to curve the fast appreciation of the Euro while the crack within the Euro Zone economy start to show: recently, spike of Bond rate in Spain and Italy, low Retail Sales, and political uncertainty in Spain and Italy. We have France getting agitated with the fast appreciation of the Euro while Germany’s Government spoke person saying that the raise of the Euro isn’t a threat to the economic recovery at all. Just wondering is this so call “spoke person” have any idea of international trades and exchange rate at all, maybe they will feel the pinch once Lexus, high end Japanese Automotives invading the like of Audi and BMW then will wake this so called “spoke person”.

Anyway, it will all depend on what Draghi has to say tonight and we think that any further push higher toward 1.40 will soon meet with rude awakening of falling out of bed. The other importance news will also come from the UK, although we expect the Bank Rate to keep on hold but what will likely drive the Pound would be what they intend to do to avoid the triple dip recession and will they announce of further stimulus and weaken the Pound even further. Stay tune.

Impact News today:

03:00 am (NY) CHF – Foreign Currency Reserves
04:30 am (NY) GBP – Manufacturing Production
04:45 am (NY) GBP – BOE Governor-Designate Carney Speaks
07:00 am (NY) GBP – Asset Purchase Facility; Official Bank Rate
07:45 am (NY) EUR – Minimum Bid Rate
08:30 am (NY) CAD – Building Permits
08:30 am (NY) EUR – ECB Press Conference
08:30 am (NY) USD – Unemployment Claims
06:50 pm (NY) JPY – Current Account
07:30 pm (NY) AUD – RBA Monetary Policy Statement

Technical Analysis:

With high impact news tonight we decided to limited our holding on GBPNZD in case the UK governor decided to add on further stimulus to weaken the Pound. Chart-wise, we can see that this pair is building a bottom and being way oversold, also, when we base on H4 we currently having a strong resistance with overbought while on H1 also given us Negative Divergence, so we expect the pair to go sideways or pullback to ease the overbought on H4, H1 before the high impact news release then direction will be determined.

GBPNZD - H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-07-Feb-2013-01.jpg"][/url]

GBPNZD - H1

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-07-Feb-2013-02.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , 02 Weeks
Number of Trades Total | This Month: 228 | 11
Winning Trades Total | This Month: 183 | 11
Pip Gain/Loss Total | This Month: +6175.9 | +455.9


08 Feb 2012 Daily review by myfxpedia.com:

Ok, It seemed that Draghi did what we have expected (yesterday update) as being prudent. Surely, he isn’t a fool after all and knows exactly what is needed for the health of the European economy to be well on the path of recovery and so his tone was more cautious, a turnaround from last month speech, for sure he must have make life like hell for many traders going Short on the Euro with tight stops. As we have say it many times before, in this sort of business where and when we have identify a terminal zone and technical is not in sync with fundamental then soon the fundamental will prevail. The problem for us as traders is to be ready to weather and survive the storm; at time markets behave much more irrational than your pocket can bear and before it’s coming to its sense and so we must stand ready to take on that storm and strategise our entries, in this case we entered with small lots sizes and widen our stops and stand ready for a drawdown of 10%.

Over the last two weeks that was exactly happened to us and this is the 2nd times its has happened over the last 9 months. The last time it happened was 2 months ago and we came out with a record pips collected for the month and now we slowly steer our way out of this storm once again and collecting pips as we doing so.

At times our strategy/system might not suit everyone but rest as sure, there isn’t any holy grail strategy/system out there. It all comes down to Risk Management and knowing your Risk and sticking to your trading plan and ultimately, as a trader you must adopt to the ability of trading without Greed nor Fear.

Impact News today:

12:30 am (NY) CNY – CPI
08:30 am (NY) CAD – Employment Change; Trade Balance; Unemployment Rate
08:30 am (NY) USD – Trade Balance.

Technical Analysis:

We just add on another position on USDCAD. This pair we entered with a small lot size 4 days ago and after yesterday candles formation H4 and a retested of uptrend line holds we decided to entered another lot at the same prices level of our 1st entry with same stop but different target. Chart below.

USDCAD – H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-500-pips-a-month-project-daily-review-08-Feb-2013.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , 03 Weeks
Number of Trades Total | This Month: 228 | 11
Winning Trades Total | This Month: 183 | 11
Pip Gain/Loss Total | This Month: +6175.9 | +455.9


11 Feb 2012 Daily review by myfxpedia.com:

First of all we would like to say Happy New Year to all our Asian members that celebrate the New Year according Moon Calendar. May this year bring you Prosperity and the Life that you always long for.

Early in the week there isn’t much fundamental news to actually move the market and with the Chinese new year which they celebrate for at 3 days so we do not expect much fundamental news coming out of Asia for the course of the week, but with last Friday comment from the Japanese Finance Minister just before he was heading for New Year celebration was enough to toughen up the Yen. Mr. Aso, said that the severe weaknesses in the Yen came as a surprise to the Government as they have never intended to do so, not wanting to engage in a so called “Currency War” anyway. Yeah, sure, we believe you and pardon my French, “Mr. Ass –ole”.

Also from last week prices behaviour on the EURUSD had took off the boil and pullback from the overbought after Druggy “Draghi” speeches. Technically, on weekly we have a Juicy bearish Engulfing Candle pattern, with Negative Divergence on MACD. This signal as warning sign of trend change, but mind you, thing just don’t go in straight line, especially after a strong trend so we might have a zigzag or even another push higher on stop hunts and sucking in new long positions before it came crashing hard. So, our advise is not to chase the market, that is not to add new Short position at current prices just yet. Wait for a retrace at least about 1.3500 before taking Short position but only take small position as we just said, it could push up to retest previous high or even make a false break higher. So, any push higher than 1.3500 we will only look for Shorts.

Impact News today:

All Day – Euro Group Meetings.

Technical Analysis:

We are currently hold 4 positions on 3 pairs and have so far banked 455 pips. Earlier in the months, although we were holding 9 positions at one time but still within our Risk parameter as well as within the maximum drawdown parameter and that was all due to Risk Management and if you read out daily updates you would have noticed that since late January we have been constantly reminding you of market being irrational and we took the contrarian view to the prices behaviour and only trade with small lot size which so far have prove fruitful. There’s a famous investor that always take the contrarian view to the market and would ride the storm to come out on top, yes, we are talking about Warren Buffett, Just look at his recent investment back in 2008 for which initially seemed like a bad investment but now, 2 weeks ago from CNBC he had came out on top as best investor and won the race....again.

Anyway, We just want to emphasise the importance of Risk Management and guts to stick to your strategy. Once you have identify a trade that meet your strategy then work on your Risk Management and the trade will take care of itself.

Lets now take a look at USDCAD. We are holding 2 positions on this pair with latest entry was last Friday which is twice the lots size of our initial entry and both entries are basically of the same entry prices. Our first entry was aggressive, a testing the water sort of thing with small lot size as we identified the range. Initially it went against us but never reach our stop then reverse and formed a good reliable candle pattern we therefore took another add on positions. This pair has now (at time of writing) given us 60 pips in front. We are now moving our stop to just above our entry prices. The one thing that we hate most as trader is to see a winning trade turn into a losing trade, the feeling and the psychology behind it is very damaging, we can assure you that.

The pair has now reach our 1st target project – you can check from last Friday update – but with the momentum still going strong we will look for a retest of previous high. Chart below:

USDCAD –H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-11-Feb-2013.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , 03 Weeks
Number of Trades Total | This Month: 231 | 15
Winning Trades Total | This Month: 186 | 14
Pip Gain/Loss Total | This Month: +6426.3 | +706.3


12 Feb 2012 Daily review by myfxpedia.com:

It was relative mute for the EURUSD pair yesterday which slowly creep up to 1.3400 but unable to clear the psychological resistance. The standout pairs that actually making decent move yesterday were the Pound USD and USDCAD. The Pound still under heavy downward pressure and yesterday moves has given up all the rally that it managed late last week. It was a straight V-shape reversal for the Pound yesterday, according to our H4 chart, It currently retesting last week low. If last week low can’t hold then we probably will see 1.5500 very quickly but watch and be careful of false break, that is, it could push below last week low and do a stop runs then reverse course. If it is a false break we may find good support after 30 to 50 pips below previous low. As for USDCAD, we manage to get on board and collected about 100 pips for each of our 2 separate entries, if USDCAD manages to clear the 1.0100 level then there isn’t much resistance for the pair to run to 1.0220.

Anyway, over the next few days there are many fundamentals news will directly or indirectly effects currency movement, particularly the Euro and the Yen pairs. This week market watchers are watching closely the GDP of the majors then we will have 2 days meeting of G20 starting on Friday with one of the hot issue will be on the table would be the devaluation of currency as it seems to have taking shape. Interesting time ahead as we slowly going through February folks.

Impact News today:

03:15 am (NY) CHF – CPI
04:30 am (NY) GBP – CPI
05:00 am (NY) CHF – SNB Chairman Jordan Speaks.
08:45 am (NY) CAD – BOC Governor Carney Speaks.

Technical Analysis:

Below are charts of USDCAD and GBPNZD which our pending Buy limit triggered during NY session and we exited at end of NY session for 50 pips. We now have another pending buy limit on this pair where we look for prices to retest the uptrend line created on H4, H1. Base on H1 we look for this pair to form Bullish Divergence. Note: this pair has been in serious down trend and way oversold and it is in the process of building bottom and once the cycle change this pair can make pretty good upside correction. The one thing that put off traders on this pair is the Swap so only play with small lot size and once we see the cycle change then we will stick with it for many days.

USDCAD – H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-12-Feb-2013.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , 03 Weeks
Number of Trades Total | This Month: ]232 | 16
Winning Trades Total | This Month: 187 | 15[
Pip Gain/Loss Total | This Month: +6471.2 | +751.2


13 Feb 2013 Daily review by myfxpedia.com:

Although there were lack of related news for the Euro Zone the EURUSD seems to resume its uptrend and slowly creeping up in a tight range toward 1.3500 area. There isn’t any high impact news for the remaining of the week but over the next 2 days we will have reports on GDP from countries within the Euro Group as well as Trade Balance of the Euro, although not highly impact on the Euro but would provide a glimpse into the state of the European economy.

If you have read yesterday update, on the very 1st paragraph where we mentioned of Stop Hunts could be in play on GBPUSD and as prices behaviour on H4 chart has shown us exactly that. It went below previous low/support and quickly ran for another 60 pips (well, our prediction were out by 10 pips) and then totally retraced to the upside and went back above previous support creating a false break. If any of you were watching the market last night and had read our update earlier and using H1/M30 to enter Long on this pair you have done a great job. Congrats.

Anyway, we do expect this week is just a set up week for the next 2 weeks of high volatility weeks with news from the G7, G20 meetings and the political sovereign risk in Spain and Italy will heat up over the coming days. So, stay tune.


Impact News today:


05:30 am (NY) GBP – BOE King Speaks; Inflation Report
08:30 am (NY) USD – Core Retail Sales; Retail Sales
10:00 am (NY) USD – Treasury Security Speaks.


Technical Analysis:

As said above we are now planning our attack on GBPUSD as the pair had has a false break on H4 and formed a good bullish long tail doji on Daily so we will put on a pending Buy limit with stop 25 pips below yesterday low. Remember this pair is still under downward pressure so we only trade with small lot size. Chart below.

GBPUSD – Daily.



[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-GBPUSD-daily-13feb2013.jpg"][/url]


GBPUSD - H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-GBPUSD-h4-13feb2013.jpg"][/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.

[Amelia]

Project Summary :


Duration: 07 Months , 03 Weeks
Number of Trades Total | This Month: ]232 | 16
Winning Trades Total | This Month: 187 | 15[
Pip Gain/Loss Total | This Month: +6471.2 | +751.2


15 Feb 2013 Daily review by myfxpedia.com:


Hope everyone has had a wonderful Valentine Day and spent most of your day with your love one than glue to FX chart. Anyway, from yesterday Europe released a series of trouble GDP across the board with Germany fell -0.6%, France -0.3%, Italy plunged -0.9% while Spain and Netherland also contracted. The disappointing GDP speak out the state of economy for Europe still a long way from recovery and anyone of the thought of Euro Crisis is behind us then they are kidding themself. With poor GDP released yesterday has prices quickly rejected the 1.3500 level forming an inverted hammer on daily chart, a reversal at 1.35. However, prices found support at the 1.3330 uptrend line support. We expect the Euro to be weaken further, to at least 1.3200 area where it will retest the primary uptrend line, below that will open doors for further downside with 1.2780 as target.


Today we will have the UK Retail sales figure which will determine the direction of the Pound in short term: A good Retail numbers will give the Pound a good rebound that it needs after being in a serious down trend at beginning of the year, if the news is going to be disappointing would further indicate the UK is closer to the triple dip recession and that could push the pound further toward 1.5300 support.


Early in the Asian trading session today we have the NZD retail sales number that came in strong and that has helped the pair NZDUSD passed the 0.8500 barrier. Now let talk about the NZD for a minute. We are of the view that this currency is way overbought and overrated and the correction on this pair will soon eventuate. It is in our view that NZD is currently in the Terminal zone and when the cycle turn this pair can run down substantially quickly. Noted that New Zealand only has the population of just over 4 million people, a much small size GDP than many developed countries and when it comes to currency, the NZD can be very illiquid and just like in any illiquid stocks when in time of trouble people will take a run and sell out at whatever prices they could and this will put on a tremendous pressure on the NZD. We will only look to go short on NZDUSD or Long GBPNZD. We had already Long GBPNZD with our bath tub play and we only add small positions on the pair so that the overall holdings will always stay within our risk parameter.


Impact News today:


04:30 am (NY) GBP – Retail Sales

09:55 am (NY) USD – Consumer Sentiment.


Technical Analysis:


We are currently holding 3 pairs of multiple entries on each pair and they are sitting well within our risk parameter. We expect the Euro will under pressure short term and least pullback another 100 -200 pips to find a meaningful support there about.


As for GBPNZD we think it is way over sold. It is in the process of building the bottom. We had a monster Monthly Bullish Divergence. Daily Continuous bullish Divergence and H4 already has more than 20 candles ride to the downside on the last run down without any retraces. We therefore will look for retrace to the upside toward at least 1.8750 to 1.9000. This chart set up reminding us of USDJPY back in about late 2011 to February 2012 when we have monster Monthly Divergence and Continuous Bullish Divergence on Weekly. The only problem and put off on this pair, GBPNZD, is that we are facing with negative swaps so if anyone with account of swap free should not be afraid to hold on to this pair. Although we cannot pin point as to when the cycle will turn but we can say that it is very close.


USDCHF - H4


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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.

[Amelia]

Project Summary :


Duration: 08 Months , 01 Weeks
Number of Trades Total | This Month: ] 242 | 1
Winning Trades Total | This Month: 194 | 1
Pip Gain/Loss Total | This Month: +6957.9 | +63.4


06 Mar 2013 Daily review by myfxpedia.com:

First of all we are very sorry for being absent from our daily updates this was due to our Chief trader relocating his offices. We supposed you all know how hectic it is when you have to move places. Anyway, things are now settle and we should have our regular market updates from now.

The FX market over the last 2 weeks have been trading in a tight boring range. What we noticed is that the Equities market keep pushing higher and yesterday actually had breakout to new high and yet the risk currencies just shrugged it off and not moving in the same direction with the Equities market as they used to do and the same as commodities such as Gold, Silver...etc. they are just sitting as a flat bed.

The break out of the high from the stock market should be put in questions as this could be just a sucker rally, this could be the perfect storm in the making. So, how would we position ourselves in the event that we are going to have a stock market correction heading our way? Well, we will seek the safe haven currencies, predominantly USD and if we are to buy/sell the cross pairs we will look to bank on the currency that has bigger GDP. Keep that in mind folks. Also from CNBC yesterday you can watch the interview of a veteran trader, Art Cashin (Damn, We even love his name here at Myfxpedia – Art Cashing in) from the NY stock exchange that share our view regarding the overheated market in an unsubstantiated rally. You can watch it here http://video.cnbc.com/gallery/?video=3000152041

Now, yesterday we have the Reserve Bank of Australia decided to keep Rate on holds , coupled with better than expected Retail Sales and this give the AUD a boost to the upside. In our view, the AUD and NZD going forward will be going lower so, with this push up in the AUD we will watch with interest and patiently wait for signal to sell the pairs. The reason we came to such view is that recently, China, with the newly appointed government has initiated in focussing on its own domestic economy while doing all it could to curb the overheated property market. The law in China from our last look up is that every individual now can only (on paper) owe 1 property to live in only. This is their way of curbing, stopping the riches from investing in property and inflated the properties prices. Now if that is actually the case we will see a slow down in property market, in turn would slow down constructions and therefore prices of commodities, materials will also fall and with commodities prices, namely Iron Ore, fall this will surely affect the Aussie commodity market and certainly will drag the AUD much lower.

Impact News today:

04:45 am (NY) GBP – King Speaks
08:15 am (NY) USD – Non – Farm Employment change
10:00 am (NY) CAD – BOC Rate Statement; PMI; Overnight Rate
07:30 pm (NY) AUD – Trade Balance


Technical Analysis:

Ok, we have been holding 2 pairs EURGBP and GBPNZD for a while now. Both pairs are currently in the process of forming (temporarily ?) tops and bottoms. We just have to be patience with them as the potential rewards on this 2 pairs can be huge. Now let us delve into each one of them.

EURGBP – Daily

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EURGBP – H4

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GBPNZD - H4

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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.