Forex Review

All our shorts covered

Administrator — Thu, 20 May 2010 22:57:00 +0000

EURUSD at 1.2397 (73 pips profit)
EURGBP at 0.8587 (108 pips profit)
EURCHF at 1.4356 (14 pips profit)

it’s possible that near-term bottom is forming right now. I am still EUR bear, but in longer term.

EURGBP short

Administrator — Mon, 17 May 2010 02:51:00 +0000

at 0.8564. stop at 0.8704
We think PIGs problem much wider than hidden billions of british deficit

EURCHF short closed

Administrator — Thu, 13 May 2010 01:43:20 +0000

at 1.4039.

I do not like that it could not break below 1.40. Prefer to take profit 50 pips.

I see all pair (EURUSD, EURJPY, GBPJPY, USDJPY) and consolidating in very thin range. I expect the move in the nearest future. Most probably it will be after option expiration this Friday.

GBPJPY 1000+ pips move

Administrator — Thu, 06 May 2010 22:09:06 +0000

GBPJPY fallen more than 1000 pips during the day. First fall to 137 was caused by GBPUSD fall, but second was caused by 400 pips USDJPY move.

S&P 500 was 10% lower.

Reuters says it was trading error:

Stocks plunged 9 percent in the last two hours of trading on Thursday before clawing back some of the losses as the escalating debt crisis in Europe stoked fears a new credit crunch was in the making.

The Dow suffered its biggest ever intraday point drop, which may have been caused by an erroneous trade entered by a person at a big Wall Street bank, multiple market sources said.

Indexes recovered some of their losses heading into the close but equities had erased much of their gains for the year to end down just over 3 percent, the biggest fall since April 2009.

“We did not know what a stock was worth today, and that is a serious problem,” said Joe Saluzzi of Themis Trading in New Jersey.

Traders around the world were shaken from their beds and told to start trading amid the plunge as investors sought to stem losses in the rapid market sell-off.

Declining stocks outnumbered advancers on the New York Stock Exchange by more than 17 to 1. Volume soared to it highest level this year by far.

Nasdaq said it was investigating potentially erroneous transactions involving multiple securities executed between 2:40 p.m. and 3 p.m.

GBPJPY short closed

Administrator — Thu, 06 May 2010 13:12:51 +0000

I think it may fall down, but I prefer to take 180 pips of profit.
Short closed at 140.89

EURCHF

Administrator — Thu, 06 May 2010 13:10:55 +0000

SNB buy order was filled today. It’s a great opportunity.
Short open at 1.4080

GBPJPY short

Administrator — Tue, 04 May 2010 14:50:00 +0000

open short at 142.67

closing our positions

Administrator — Tue, 04 May 2010 11:27:38 +0000

I do not like how it moves. Prefer to close position.
USDCAD profit ~50 pips
EURGBP profit ~70 pips

new long USDCAD

Administrator — Mon, 03 May 2010 23:19:44 +0000

We are still keeping EURGBP with the stop 0.8747. The position give us some modest profit (~50 pips), but we expect more move downside. We will move stop at cost on the next leg down

Now we are entering long USDCAD 1.0109

GBPCHF long closed

Administrator — Thu, 29 Apr 2010 04:19:42 +0000

at 1.6463 with a loss around 200 pips.
Now we changed to euro bearish bias.
So short EURGBP at 0.8704