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Forex Trading Signal 10-9-2009

Discussion in 'Current Forex Trading Signals' started by Sir Pipsalot, Oct 9, 2009.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Hey folks,

    Well, we saw the EUR/USD and GBP/USD trade in a range and stocks rally a bit and consolidate afterwards today. Tomorrow I expect some EU and GU bullishness and think a buy here now around 1.6 to 1.6020 to be a good long on GU, and a buy on the Euro here between 1.4705 and 1.4730 to be nice as well. For SL's I'd use 1.5970 to 90 and 1.4680 to 95. I'm personally looking for 1-1 profits on the first halves and more ambitious targets on the 2nd halves (1.6300? 1.4900's).

    In stocks, I think we have a decent chance at seeing some consolidation or small pullback tomorrow, so I chose to take 1/4 profits on my long around 1063 on the futures and 1067 live (about 16 points profit). I'm still optimistic about breaking the 1080 highs over the next week or so, but the rally might need a bit of a break first.

    In news Thursday, we saw the BoE really do nothing with their statement and nothing really worth going through on the ECB decision either. In news Friday:

    0700 CAD Employment Change (5.0K expected) - This indicator has been the one CAD indictor doing pretty well. Usually it either stalls out after a minute, retraces a bit over an hour or so and reignites later in the NY session, or it will keep trending along for 30-40 minutes without retracing much.
    If it comes out at 20K or higher, USD/CAD should fall 40+ pips.
    If it comes out at -15K or lower, USD/CAD should rise 40+ pips
     
    #1 Sir Pipsalot, Oct 9, 2009
    Last edited: Oct 9, 2009
  2. Vladon

    Vladon Private, 1st Class

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    I just wonder how one can buy ... around 1.6 to 1.6020 and use 1.6070 to 90 for SL.

     
    #2 Vladon, Oct 9, 2009
    Last edited: Oct 9, 2009
  3. Slim Trady

    Slim Trady Private

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    Hi Sir Pips,

    GU buy at 1.6 to 1.6020 with a SL at 1.6070/90?

    Guess you mean 1.5970/90 right ? :)
     
  4. Vladon

    Vladon Private, 1st Class

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    In this case it has already been hit.
     
  5. muntaser

    muntaser Recruit

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    what is wrong

    ? sir pls check again???how can i buy ?
     
  6. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Gosh, what is it with me and the typos today. Yah, the GBP was just too relatively weak to hold onto the 1.6 level, but the Euro buy is working quite well and the GBP has recovered a bit. It looks like shorting the USD versus Euro, AUD, and CAD is the way to go right now for this wave. A target for USD/CAD is the 1.03 handle
     
  7. Seamantrust

    Seamantrust Recruit

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    All proved from yesterday.

    EUR cut a bit and I have to thank Sir Pip again for your comments.
     
  8. jriechers

    jriechers Recruit

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    Brazil Central Bank just bought a bunch of USD at BRL 1.7395 - EURUSD unexpected spike down... will it recover?
     
  9. muntaser

    muntaser Recruit

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    what you said sir 100% right
    cad going 1.03 next week
    mostly
     
  10. Seamantrust

    Seamantrust Recruit

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    Not sure what people are waiting for at this moment?
    It seems stop to move at around 1.4708
     

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