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Forex Analyst Picks & Strategies for
My Picks: Enter Long USDCAD, Stay Short GBPUSD |
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I entered short GBPUSD at 1.5533. Prices have now met my second objective to test the 38.2% Fibonacci expansion at 1.5029. I will continue to hold short, looking for a daily close below this barrier to expose the 50% level at 1.4850. The stop-loss has been revised to trigger on a close above 1.5322, the May 16 swing high. I have also triggered a long USDCAD position at 1.0323 as prices pulled back after clearing a major falling trend line connecting tops dating back to October 2011. I will initially aim for a break above the 50% Fib retracement at 1.0367. A stop-loss will be activated on a close below 1.0283, the 38.2% mark. |
Trading Log
| Symbol | Direction | Status | Entry | Stop | Target | Date | Analyst |
|---|---|---|---|---|---|---|---|
| GBP/USD | short | ACTIVE | 1.5533 | close > 1.5322 | below 1.5029 | 05/03/13 | Ilya |
| USD/CHF | long | ACTIVE | 0.9660 | 0.9715 (1/2 Closed at 0.9750 for +90) | >0.9750 | 05/21/13 | Christopher |
| USD/CAD | long | ACTIVE | 1.0323 | close < 1.0283 | above 1.0367 | 05/24/13 | Ilya |
Today's Forex Trading Tips & Ideas
RSSGBPUSD Triggers 1.5127 Target- Cautiously Bearish Below 1.53
The pound has now achieved the third objective cited last week and the risk of a near-term pullback has our scalp bias at risk above 1.5127. Here are the key levels. RSSEUR/USD Retests $1.3000 on Better German Data; Yen Rallies Again
The Euro remains resilient despite strong moves in the US Dollar and the Yen this week. RSSEUR/USD- Trading the U.S. Durable Goods Orders Report
The U.S. dollar may regain its footing over the next 24-hours of trading as demands for U.S. Durable Goods are projected to increase 1.5% in April. RSSAnalysis: Downtrend Resumption in EUR/GBP?
Trading the cycle turn in EUR/GBPLatest Topics in the Forex Trading Forums
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EURUSD H1 2013 by nikolas Today at 21:27 |
Discuss GBP and JPY Pairs by carlh Today at 20:48 |
EURUSD H1 2013 by Joke Today at 20:04 |
Discuss GBP and JPY Pairs by Nightwish Today at 18:56 |
| Currency | Central Bank Rate | Overnight Rate |
|---|---|---|
 aud |
2.75% | 2.93% |
 nzd |
2.50% | |
 eur |
0.50% | 0.02% |
 cad |
1.00% | 0.99% |
 gbp |
0.50% | 0.48% |
 usd |
0.25% | 0.15% |
 chf |
0.00% | -0.00% |
 jpy |
0.10% | 0.10% |
| Symbol | Roll S | Roll B |
|---|---|---|
| EUR/USD | 0.0 | 0.0 |
| USD/JPY | 0.0 | 0.0 |
| GBP/USD | 0.0 | 0.0 |
| USD/CHF | 0.0 | 0.0 |
| EUR/CHF | 0.0 | 0.0 |
| AUD/USD | 0.0 | 0.0 |
| USD/CAD | 0.0 | 0.0 |
| NZD/USD | 0.0 | 0.0 |
| EUR/GBP | 0.0 | 0.0 |
| EUR/JPY | 0.0 | 0.0 |
| GBP/JPY | 0.0 | 0.0 |
| CHF/JPY | 0.0 | 0.0 |
