No Go decision

I just received an emails from my currency strategist and currency analyst both in New York and Europe. They do not allow me to trade the Euro based on my risk that I put on previous posting. So I won't be trading the Euro based on the previous setup. Anyway it's your call if you wish so.

Happy weekend guys ;)

Recommended & Trusted Broker:

Dollar Sliding due troubled market

Friday’s troubled market in the US has forced the Dollar to slide down quite rapidly despite good number from the US Trade Balance than forecasted. The Euro and the Pound becomes the beneficiary of the sliding Dollar.

Next week, especially Monday I expect the Euro may hit my expected target of 1.5982 or within the area of 1.5980’s, and there maybe a possibility that the Euro may hit 1.6000 level if the crude oil price hit or break the $150 level per barrel.

Despite the above analysis I will only execute my Euro entry without the assistance of EA, if it retrace to 1.5885 levels and keep a tight stop of 30 pips. However, the opportunity of using an EA to trade the Euro will also be good by next week. This week the EA give me a profit of well over 80 pips. Alternatively, if the Euro traded against the Dollar below 1.5850, I will not dip into the market except with the assistance of EA to find the right level to execute the trade.

I will stay aside from trading the GBPUSD pair as I feel uncomfortable with the market movement for the past few weeks.

Until next week, happy trading guys ;)

Recommended & Trusted Broker:

Ultra-Trend Indicator System

Now as promised this is how an Ultra-Trend indicator that I use, seen here in action today with the USDJPY example on the 4-hour chart.

To use it is quite simple. Just look for the blue line at the bottom of the this chart. When ever the blue line cross up the red line it mean BUY signal. If the blue line cross below the red line it mean SELL signal.

I find it quite useful on the higher time-frame from 30 minutes chart upwards. However it still work for the 15-minute chart with experience.

And this indicator will be given FREE if you open an account (mini or standard) with fxpro.com with us.

See it's very simple right..... Happy trading guys ;)

Recommended & Trusted Broker:

EURUSD Plugged after Bernanke, USDJPY in the making

EURUSD initially makes a good uptrend to 1.5752 after last week bottom slide during the London session but it was short lived, when the US session open. After Mr Bernanke said that the Fed may extend lending facilities the Euro then progressively start to slide and find its bottom at 1.5634. Eventually posting an unrealized loss with my EA, currently at 56 pips. Both the 4-hour and 30-minutes chart shows the Euro are in the range bound mode with no clear direction to start any serious non-EA entry for me.

Bernanke speech do helps the USDJPY to gain some good level and now in the making for another high. We saw the Dollar accelerate to 107.52 during the US session and continues its upward trend. I am looking to enter the USDJPY pair if the trend able to break the high of 107.74 (July 7) with target of at least 80 pips and a tight stop of 31 pips.

Happy trading guys ;)

Recommended & Trusted Broker:

EURUSD expert advisor makes profit

Earlier during both the Asian & London session, the EA makes good 60 pips profit until the open of US session which it post a 24 pip loss. I manually intervene the system as the market makes the opposite trend due to, I guess, lower crude oil prices than during the Asian and London session. Crude oil now down over $3.00. In total, today's trade net a profit of 35 pips.

Recommended & Trusted Broker:

USDJPY mixed trend ahead

Over this weekend, I am looking at 3 major currency pair based on this week post market analysis. GBPUSD still have the bearish signal within the 4-hour chart but if I look at the Daily chart for the long term view, it tells me to go bullish. But the bullish power or strength for this pair on the Daily chart seems getting week for the past few months.

On the USDJPY it tells the same story as the Pound but with much stronger tone. Looking at my Daily USDJPY chart, the signal represent for a bearish side. It has been bearish ever since March of this year. But over the past two months the trend has been going up, with the highest so far this year at 108.57 level. Breaking this level again will give us another stronger push northward.

On the medium to intra-day term, by looking at the 4-hour chart for the USDJPY, tell another different story, where the tone tells me to go for bull market trend. As long as the Dollar trades above 106.76 against the Yen, it is BULL all the way except if it goes southerly 102.60

For those who can accept 30 pips loss, I can recommend this entry setup:

Entry : Above 106.50
Stop : 30 pips below entry
Target : 107.20 or 107.60

I will be back for the Euro analysis. Until then happy trading guys ;)

Recommended & Trusted Broker:

FxPro.Com

EA trading will resume Monday for EURUSD

After nearly a week I switched off my EA from trading the EURUSD pair (due to US NFP), I will resume my EA (Expert Advisor) early this coming week Monday. The EA constantly giving me up to 30% profit month after month.

Even when using EA, I still observed the market for other opportunity both with EURUSD and other major currency pairs. For other pairs I trade with Ultra-Trend indicator that I will show it to you soon.

Happy trading guys ;)

Recommended & Trusted Broker: FxPro.Com With the Lowest EURUSD spread of 1.8 pip.