Forex Profit Alert: November 23, 2008
November 23, 2008
The second leg of last weeks GBP/USD gap trade closed Friday’s session at a profit of +216 pips. This week the GBP/USD was the only pair that had a qualifying gap at the up of the new session.
The USD/JPY has a pending long pivot trade at this time. The EUR/USD has a pending long pivot trade and a new pivot short trade. The GBP/USD has a pending long pivot trade and a new pending short pivot trade. There is a pending short pivot trade in the USD/CHF.
There are no movers trades for tomorrow.
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50 Year Low US Interest Rates?
November 22, 2008
As the stage is set for serious problems among U.S. auto makers and a terrible retail season this Christmas, it’s hard to see any indication of where and when these shark infested waters are going to calm down. Until then, here’s another week in review.
Starting at home
There was a lot of major news in the U.S. this week. The Empire Manufacturing report was released, and is shoed a record low reading of a -25.4 from -24.6, to reach its lowest level ever. The huge cut back in manufacturing as occurred in line with a general economic downturn and a huge downturn in consumer demand. The dour outlooks for holiday spending and massive amounts of monthly job cuts suggest this won’t get better anytime soon.
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Over Extended Trades…
November 20, 2008
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Forex Profit Alert: November 20, 2008
November 20, 2008
The second leg of the GBP/USD gap trade closed this session at a current profit of +76 pips. Make sure to close this trade out at the end of tomorrow’s session, if the trade is not stopped out at breakeven. Sunday at 5:00 pm ET the market opens giving us an opportunity for gap trades.
The USD/JPY has a pending long pivot trade at this time. The EUR/USD has a pending long pivot trade and a new pivot short trade. The GBP/USD has a pending long pivot trade and a new pending short pivot trade. There is a pending short pivot trade in the USD/CHF.
There are no movers trades for tomorrow.
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Still in Yen Trade…
November 19, 2008
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Forex Profit Alert: November 19, 2008
November 19, 2008
The second leg of the USD/JPY gap trade was stopped out at breakeven. The EUR/USD had its second leg of the gap trade stopped out at breakeven. The second leg of the GBP/USD gap trade closed this session at a current profit of +300 pips.
The USD/JPY has a pending long and short pivot trade at this time. The EUR/USD has a pending long pivot trade and a new pivot short trade. The GBP/USD has a pending long pivot trade and a new pending short pivot trade. There is a pending short pivot trade in the USD/CHF.
There are no movers trades for tomorrow.
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USD/JPY Inside Bar Trade…
November 18, 2008
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Forex Profit Alert: November 18, 2008
November 18, 2008
The second leg of the USD/JPY gap trade closed this session at a current profit of +52 pips. The EUR/USD closed the session with a current second leg profit of +86 pips. The second leg of the GBP/USD gap trade closed this session at a current profit of +308 pips. The second leg of the USD/CHF was stopped out at breakeven.
The USD/JPY has a pending long and short pivot trade at this time. The short pivot trade is new. The EUR/USD has a pending long pivot trade. The GBP/USD has a pending long pivot trade. There is a pending short pivot trade in the USD/CHF.
The USD is releasing their Consumer Price Index for October at 8:30 am ET. The consensus is that the CPI has dropped from 0.0% to -0.8%.
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USD/CHF Breakout 1.2011…
November 17, 2008
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Forex Profit Alert: November 17, 2008
November 17, 2008
The USD/JPY, EUR/USD, and the GBP/USD all gapped down on the open of this new session. The USD/CHF gapped up at the open. All four pairs retraced their gaps, allowing for a profit of +495 pips so far. The second legs of all four pairs are still going.
The USD/JPY has a pending long and short pivot trade at this time. The EUR/USD has a pending long pivot trade. The GBP/USD has a pending long pivot trade. If this pair pulls back during this week’s sessions we could have a new pivot low. There is a pending short pivot trade in the USD/CHF.
There are no movers trades for tomorrow.
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