Euro Signal Change 3/10/2009

We are getting close to a signal change in the EUR/USD if we can hold above 1.2750. Start planning your buys. Once the signal is generate my plan is to buy a small lot and add on a pullback. If we get that pull back and do not get stopped, I will add again on a break out to a new high for the move. At that point , I would have a full position on.

Currency Markets

EUR/USD - Euro

AUD/USD - Aussie Dollar
GBP/USD - British Pound
USD/CAD - Canadian Dollar

USD/JPY - Yen

USD/CHF - Swiss Franc

This is one of my most painful posts I have ever written. The last time I posted an entry about the currencies, I was so excited feeling that I timed my post at the perfect moment. In that post, I thought the US Dollar was just about ready for its next leg down. Five of the Six major currencies had trade setups I like. This was the most since last year.
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Boy was I wrong. The US Dollar was had a massive run 2 and 1/2 week against everything. Now I do not know for certain, but this could be a major turn in the Dollar for the next couple of months or even years. I hope so. I want to go to Europe some time soon.
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The mode is now to look for retracements of this run to get long the Dollar. This could put pressure on US Stocks that get the bulk of their earnings from overseas and Oil's rise has also been blame partially on the Dollars fall. This could change. Who knows- maybe all we have to do is get those tire gauges and pumps and the energy crisis will be solved.

Currency Markets- A weekly look 7/6/2008

EUR/USD - Euro

AUD/USD - Aussie Dollar
GBP/USD - British Pound

USD/CAD - Canadian Dollar

USD/JPY - Yen

USD/CHF - Swiss Franc

Every so often it is very good to look at the big picture. The Dollar may or may not be putting in bottom here. A lot of these charts have key points to watch.

Currency Markets 2/28/2008

I have not said anything recently about the Currency Markets. The market had become so choppy; I got sick of fighting them. A course like so many other times, you give up on a market and it becomes trendy again and easier to trade.

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Only the GBP/USD looks like it may stay choppy. All the others have taken off with nice long moves. Some of the moves are 100s of Pips - see EUR/USD and AUD/USD. I was long the AUD/USD but allowed myself to be stopped out way to early and the EUR/USD I should have done a stop and reverse.

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Even the other 3 are moving well - USD/JPY, USD/CHF and USD/CAD. Now the problem is where to catch a ride on the train.

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The scary point of all of these markets is the US Dollar is getting hit badly. Something I do not think is good long term.

Currency Markets 2/21/2008

I am going to scratch the USD/CAD trade at even. I need to spend some time looking at the charts and figure things out.

Currency Markets 2/15/2008

Very frustrating markets are here. The currencies have become super choppy. I am still just trying to paper trade this system wondering if I have the guts to follow it and I a course I come into a period that is a mess like this. If I had started this last summer, the first six months of this would have been so much easier.

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Right now I am only officially long the USD/CAD and sitting at a loss. I should be long the EUR/USD, AUD/USD (bad stop), and USD/JPY. The GBP/USD and USD/CHF are close calls.

Currency Markets 2/14/2008

Stopped out of the EUR/USD. Getting killed on the USD/CAD. Markets are very choppy. I do not know if it is worth trying to deal with the choppiness.

Currency Markets 2/10/2008

Not much to say. Long The USD/CAD and short EUR/USD. Looking to go long the USD/JPY and USD/CHF. Should have stayed long AUD/USD and should have been short the GBP/USD.

Currency Market Update 2/7/2008

Sell your long AUD/USD at 0.8895 and remain flat (+95 pips). Sell your short USD/CAD at 1.010 (+80 pips) and go long. Move the stop for the short EUR/USD to 1.4675. All the currency markets are very choppy right now. You must protect profits.

Currency Market Updates 2/5/2008

We were stopped out and reversed on the EUR/USD this morning at 1.4725. We were also stopped on USD/CHF at 1.1000 - no reverse. We are still long the AUD/USD and short USD/CAD. I would short the GBP/USD if it hits 1.9700.

Currency Markets 2/3/2008

The Currency Markets look like they are becoming choppy. Tighter stops are needed to protect profits.

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EUR/USD - It looks like the EUR is having problems breaking thru the 1.49 area and may need to back off one more time. We arre long from 1.4700 with a stop at 1.4725. We will consider reversing when it is hit.

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AUD/USD - The Aussie is trading a lot better. We are long from 0.8800 and will place the stop 0.8844 for now. We will consider reversing if hit.

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GBP/USD - I have not done well on the Cable with this bounce. After taking out nearly 1000 pips on the last trade, I have found it hard to get back in. The decline on Friday was massive. We will watch the action for now.

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USD/CAD - The USD/Loonie has been the easiest of currencies to play recently. We are short from 1.0190 with a stop at 1.0144. I want to make it lower with a reverse stop but will wait a couple of days first.

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USD/JPY - I am frustrated that I had the stop just a little too close. I think the USD/Yen will bounce around for a while before going in either direction.

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USD/CHF - We are still nicely short the USD/Swiss Franc from 1.1400 with a stop at 1.1000. The bounce on Friday was very big. Odds are we will get stopped and will consider going long at that time.

Currency Markets 1/28/2008

Right now should be long EUR/USD from 1.4700, long AUD/USD from 0.8800, short USD/CAD from 1.0190, still short USD/CHF from 1.1400 with a very tight stop and flat the other two - USD/JPY and GBP/USD looking for entry points.

Currency Stops 1/24/2008

A bunch of stops where hit. Only the USD/CHF was not hit. On the USD/CAD, one should reverse to the short side. The others wait for now.
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EUR/USD - short from 1.4650 stop 1.4620 stopped out do not enter long yet
AUD/USD - short from 0.8800 stop 0.8760 stopped out do not enter long yet
GBP/USD - short from 2.0600 stop 1.9650 stopped out do not enter long yet
USD/CAD - long from 0.9970 stop 1.0190 stopped out reverse short
USD/JPY - short 113.000 stop 106.75 stopped out do not enter long yet
USD/CHF - short 1.1400 stop 1.1050

Adjust Stops again 1/23/2008

If I was trading this system, I would not want anything the Fed may or may not do suddenly take a bunch of the profits away from me.
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EUR/USD - short from 1.4650 stop 1.4620 stopped out do not enter long yet
AUD/USD - short from 0.8800 stop 0.8760
GBP/USD - short from 2.0600 stop 1.9725 new stop 1.9650
USD/CAD - long from 0.9970 stop 1.0190
USD/JPY - short 113.000 stop 108.25 new stop 106.75
USD/CHF - short 1.1400 stop 1.1150 new stop 1.1050

Curreny Markets 1/22/2008

Stopped out of the EUR/USD short at 1.4630. No long for now. Very close to being stopped out of others. Stay tune.

Stop Updates - Currency Markets 1/21/2008

If I was trading this system, I would not want anything the Fed may or may not do suddenly take a bunch of the profits away from me.
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EUR/USD - short from 1.4650 stop 1.4900 new stop 1.4620
AUD/USD - short from 0.8800 stop 0.9150 new stop 0.8760
GBP/USD - short from 2.0600 stop 400 pip trailing (1.9990) new stop 1.9725
USD/CAD - long from 0.9970 stop 1.0025 new stop 1.0190
USD/JPY - short 113.000 stop 109.500 new stop 108.25
USD/CHF - short 1.14000 stop 1.12000 new stop 1.1150

Currency Markets 1/20/2008

On Friday the long EUR/USD (+130 pips) and AUD/USD (+80 pips) should have been reversed to shorts:

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EUR/USD - short from 1.4650 stop 1.4900
AUD/USD - short from 0.8800 stop 0.9150
GBP/USD - short from 2.0600 stop 400 pip trailing (1.9990)
USD/CAD - long from 0.9970 stop 1.0025
USD/JPY - short 113.000 stop 109.500
USD/CHF - short 1.14000 stop 1.12000

Currency Markets 1/12/2008

I am going to trying to get more detailed with my trade ideas here and try to update them thru out the week so:

EUR/USD - long from 1.4520 stop 1.4600

AUD/USD - long from 0.8720 stop 0.9650

GBP/USD - short from 2.0600 stop 400 pip trailing

USD/CAD - long from 0.9970 stop 0.9990

USD/JPY - short 113.000 stop 111.000

USD/CHF - short 1.14000 stop 1.12500