USDCHF 2-9-07

2-9-07

USDCHF

The USDCHF never made it to the 1.2518 area for a short trade yesterday. It sold off once it reached 1.2510. It found support at 1.2450. The range I will trade for today is 1.2475 up to 1.2518.

USDJPY 2-9-07

2-9-07

USDJPY

The USDJPY never reached the 1.2187 area for a short trade yesterday. The range I will trade for today is 1.2100 to 1.2187.

GBPUSD 2-9-07

2-9-07

GBPUSD

The GBPUSD is below the moving average this morning, so it looks like the selling will continue for today. The next area of demand for a long trade is 1.9488. I will trade long at 1.9488 and short at 1.9666.

EURUSD 2-9-07

2-9-07

EURUSD

The EURUSD is struggling to get past the 1.3042 area of supply this morning. If it rallies past 1.3042, then the range I will trade is 1.3042 to 1.3100 for today. If the EURUSD sells off instead, I will trade the 1.2992 to 1.3040 range for today.

GBPUSD 2-8-07

2-8-07

GBPUSD

The GBPUSD sold off this morning before it reached the 1.9758 area of supply. Sometimes when another currency pair reaches an area of support like the USDCHF did at 1.2376, the rest of the pairs will turn on a dime ahead of their areas of supply or demand. The range I still plan to trade is 1.9600 to 1.9758. Use buy stops and sell stops once the GBPUSD trades below 1.9600 and above 1.9758 to reduce the risk on the trades.

EURUSD 2-8-07

2-8-07

EURUSD

The EURUSD long trade from 1.2923 was closed at the trailing stop at 1.2971 this morning. The area of supply at 1.3015 turned the EURUSD down toward the 1.2967 area of support. I would be interested in trading long near 1.2950 and short near 1.3015 as a trading range for today.

USDJPY 2-8-07

2-8-07

USDJPY

The 1.2100 short trade is out since the USDJPY based near 1.2086 all day yesterday to absorb the supply near 1.2100. If you used a sell stop to enter at 1.2099, your order should still be open since the low since 1:00 AM today is 1.2102.
The USDJPY has actually based near 1.2122 this morning and could go higher to the 1.2160 area of supply. I would not short the 1.2160 area. I would short 1.2187 and cover near 1.2122 if the USDJPY rallies past 1.2122.

USDCHF 2-8-07

2-8-07

USDCHF

The USDCHF extended the range lower yesterday to the 1.2376 area of support and then rallied to near the 1.2500 resistance area this morning. There is the 1.2518 area of resistance ahead if the USDCHF manages to push past this 1.2503 area of resistance.
I will short the 1.2518 area if the USDCHF manages to rally up to it without basing near the 1.2503 area of resistance. I would cover near 1.2422. If the USDCHF does rally up to 1.2518 after basing near 1.2500, the next area to short with a 3 to 1 risk to reward is 1.2550.

USDJPY 2-7-07

2-7-07

USDJPY

The next trade in USDJPY will be a short at 1.2100. The target is 1.2023 to cover.

USDCHF 2-7-07

2-7-07

USDCHF

The USDCHF bounced at 1.2426 yesterday for 20 pips, but not enough to enter the short at 1.2475. There is now resistance at 1.2436.
I am going to pass on the breakout long trade at 1.2420 since the resistance is 16 pips away. I will wait a day for the range to open up.

GBPUSD 2-7-07

2-7-07

GBPUSD

There was no pullback to 1.9613 for a long trade yesterday.
The range I plan on trading for the GBPUSD is 1.9613 to 1.9758.

EURUSD 2-7-07

2-7-07

EURUSD

There was a long entry on Monday at the 1.2923 price from the 2-4-07 post.
Trail the stop loss on the EURUSD to 1.2961. If the EURUSD rallies past 1.2984, trail the stop to 1.2971.