The US dollar was higher against most of its main counterparts except the Japanese yen as investors’ willingness to move into riskier currencies and assets took a hit from weak Japanese economic data (industrial production going down, unemployment on the rise) and remarks by St. Louis Federal Reserve Bank President James Bullard, who warned that the US economy was in danger of copying Japan’s deflationary “lost decade.”

Will we see the USD/JPY hitting 84.83 and diving below it soon? Take a look at the weekly chart:

Posted in Forex Analysis, Forex News Commentary | No Comments »

It is 07:45 am GMT. My Take Profit was just hit for a 58-pip profit. That’s it for this month. See you next month guys – in a couple of days.

Such hourly pictures look really ugly to the folks who are holding long positions:

Posted in Forex Trades | 2 Comments »

It’s 05:54 am and I just sold EUR/JPY at 113.03. My stop is as usual as per the trading plan (206 pips away). My target is 112.45.

Here’s the 1-hour chart:

Posted in Forex Trades | No Comments »

It’s 16:08 pm GMT. That’s it for this position. Managed to add some 35 more pips, and left a lot on the table. Business as usual. Not bad.

Here’s the (ugly) hourly painting:

Posted in Forex Trades | 2 Comments »

The tough resistance at 1.3045 could have been broken. Let’s see if it retreats. I hope not.
Here’s the hourly chart of EUR/USD as of now (08:14am GMT):

Posted in Forex Analysis, Forex Trades | No Comments »