Resources Learning Centre

Friday, July 31, 2009

AUD/USD Trade Recommendation

The analysis all adds up to the USD gaining strength against the AUD, but thin trading my cause some wacky price action, so I am going pretty light on this one.

I am selling AUD/USD at 82.750 with a stop loss of 83.00 and an open take profit at 82.00.

From the Desk of
Aaron Reid

Wednesday, July 29, 2009

Closing USD/CAD

Hi,

I am closing my open USD/CAD trade for a small 17 pip ($150/$15 per unit) loss. I don't like what I am seeing and think we are on the wrong side of this trade. Look to re-enter at a later date.

From the Desk of
Aaron Reid

USD to Benefit from the End of Risk Rally

Hi Traders,

I am looking at the USD/CAD pair, and I think that we may be looking at the end of the rally in riskier stocks and currencies. I am going to go very light on 1 unit of USD/CAD in anticipation that the US Dollar will strengthen as stocks decline. Due to the fact there is only preliminary evidence that the risk rally is over, I am keeping my stop loss quite tight.

USD/CAD buy 1 unit at 109.175, SL = 108.900, TP is open at the moment. Stay posted as I may look for a quick exit as things develop.

Risk: 30 pips or $280/$28 per unit
Reward: Open

Trade Recommendations in Anticipation of Beige Book Report

Hi Day Traders:

The Beige Book is due to come out tomorrow at 2pm, and analysts are anticipating a less than stellar economic report. The BB will be reporting on the economic data from early June through July. A poor report will likely result in the selling of riskier assets such as stocks and commodities. Riskier currencies such as the JPY-crosses (EUR/JPY, AUD/JPY, GBP/JPY, etc) are the ones most likely to be affected by this report, I am placing orders to go short (sell) a couple of those currencies. Below is my recommendation:

EUR/JPY sell at 133.250, stop loss order at 134.160, take profit at 132.25
Risk: 80 pips or $900/$90 per unit (1 unit is $100,000, or $10,000 for smaller accounts)
Reward: 105 pips or $1100/$111 per unit (1 unit is $100,000/$10,000 for smaller accounts)

GBP/JPY sell at 156.100
Risk: 30 pips or $320/$32 per unit
Reward: 229 pips or $2410/$241 per unit

From the Desk of
Aaron Reid

Tuesday, July 28, 2009

AUD/NZD Sell Recommendation

Hi Traders,

I am going short on 1 unit of AUD/USD at 125.650 which has already been filled. The Stoploss is 126.510, and the take profit is set at 126.300. I may add to this position later, so I will keep you posted.

From the Desk of
Aaron Reid

Thursday, July 23, 2009

EUR/USD Long Position Ordered

Hi,

I am going to go long (buy) on EUR/USD at 141.250 . The stoploss is 140.800 and take profit is 1.43500. The pair is still trading strangely, but the over triangle is in tact. So giving it a go with a light trade and a tight stoploss.

FYI, looking for a good entry for the USD/CAD. There is long-term trade potential here.

From the Desk of:
Aaron Reid

Closing EUR/USD Early

Hi,

I closed my position early for a small profit of 40 pips. Turns out it would have hit the target of 141.500 that I was looking for, but seeing at it was a bit of a riskier trade to begin with, I saw my 40 pips and took it. Looking for another entry point to go long, stay tuned. My entry point will be calculated shortly.

From the Desk of
Aaron Reid

Wednesday, July 22, 2009

Making a Move on EUR/USD

The markets are incredibly flat right now. There is no real signal indicating direction, and until that changes we remain in limbo.

As a bit of a riskier trade, I am going to sell a unit of Eur/Usd at 1.42500. The stop loss will be at 1.4300, and take profit at 1.41500. If you haven't got much of an appetite for risk but want to get in on something, enter at 1.42750 with the same stop loss, and take your profit early, such as 1.4200. Although it may be prudent to sit this one out, the market really could go anywhere from here. Take the night off and relax.

This mundane price action is typical for the summer, so this is nothing out of the ordinary. Things do improve as traders return to the action from holiday.

From the Desk of
Aaron Reid

Sunday, July 19, 2009

Going Short on USD/CAD

Good Evening!

Making a trade (at long last!) I am going short (selling) on a unit of USD/CAD at 1.11250, and 2 more at 1.11600.

I am expecting the USD to weaken further into 1.09800, but I will take profit at 1.10, and if I have the other units hold onto them to see if we can squeeze out 1.09800 or lower.

Recommended by:
Aaron Reid