Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
As every first Friday of the month we saw the non-farm payroll data orNFP out of the U.S. which on the headline came in better than expected and therefore plenty of currency charts have been temporarily disrupted which caused a spike in temporary floating losses in anti-USD crosses. Economists had forecasted that the U.S. economy added 165,000 jobs, but the report revealed total additions of 195,000 while theunemployment rate held steady at 7.6%.
Revisions to the prior two months showed an additional gain of 70,000 which further fueled hope at a recovery in the labor market. Those who decided to ignore the headline figure and dig a little bit deeper into the structure of the labor market were able to witness major problems. The number of discouraged workers or those who have part-time employment and seek a full time position surged to 14.3%. When you add this to the unemployment rate of 7.6% you arrive at a total figure of 21.9%.
Another sign of caution is the rise of part-time employments which rose to 28.1 Million. This eventually means that those positions will be eliminated and this will collapse the U.S. labor market which will send the unemployment rate back above double digits. Finally, over 50% of all created jobs are in the low income as well as low quality jobs which will not encourage greater economic activity. We expect the labor market to deteriorate over the course of the second-half of 2013.
Overview of profits for the week which ended July 5th
CADJPY: 195 pips
AUDUSD: 75 pips
USDCHF: 125 pips
Total Profits: 395 pips
Monday, July 1st
AUDNZD Long Recommendation
We recommended a long position at 1.1825 with a take profit level of 1.1925 (AUDNZD Falling Wedge). This pair corrected further and triggered our adjusted stop sell order at 1.1700 and currently this trade carries a floating trading loss of 162 pips. We will maintain our take profit target of 1.1925 for our long position and 1.1650 for our short hedge.
Tuesday, July 2nd
GBPUSD Long Recommendation
We recommended a long position at 1.5200 with a take profit level of 1.5525 (GBPUSD halts at Support). This pair moved lower and we canceled our stop sell order in anticipation of a negative surprise out of the NFP report which did not occur. This currency pair moved lower and we currently carry a floating trading loss of 316 pips. We will seek to add to this trade next week and maintain our take profit target of 1.5525.
Wednesday, July 3rd
AUDCAD Long Recommendation
We recommended a long position at 0.9550 with a take profit level of 0.9900 (AUDCAD Falling Wedge). This pair moved higher and we carry a floating trading profit of 31 pips. We will maintain our take profit target of 0.9900.
Thursday, July 4th
EURUSD Long Recommendation
We recommended a long position at 1.2925 with a take profit level 1.3175 (EURUSD Pre-NFP). This pair moved lower and we canceled our stop sell order in anticipation of a negative surprise out of the NFP report which did not occur. This currency pair moved lower and we currently carry a floating trading loss of 173 pips. We will seek to add to this trade next week and maintain our take profit target of 1.3175.
Exit from trades of previous weeks
CADJPY Long Position
We closed our open CADJPY long position on July 2nd for a profit of 195 pips as we closed this trade at 94.95.
AUDUSD Hedge
We closed our open AUDUSD hedge on July 3rd for a profit of 75 pips as we closed this position at 0.9075.
USDCHF Hedge
We closed our open USDCHF hedge on July 5th for a profit if 125 pips as we closed this position at 0.9630.
We had a total of four new trading recommendations this week which all remain open and have not created profits yet. Our four trading recommendations form this week carry a floating trading loss of 620pips. We have closed one trade plus two hedges from previous weeks for profits of 395 pips which total our weekly profits and mark a good start for July.
In addition to our four trades from this week we also have eight positions from previous weeks. We have two open USDCHF short positions which currently carry a floating trading loss of 694 pips. This represents an increase of 357 pips compared to last week. We will seek to add one final short position to this trade next week.
We have one open USDCAD short positions which currently carries a floating trading loss of 65 pips. This represents an increase of 63 pips compared to last week. We will maintain our take profit target of 1.0400.
We have four open NZDUSD positions, three long positions and one short hedge, which currently carry a floating trading loss of 928 pips. This represents an increase of 64 pips compared to last week. We will maintain our take profit target of 0.8235.
We have four open EURGBP positions, three short positions and one long hedge, which currently carry a floating trading loss of 1,625 pips. This represents an increase of 203 pips compared to last week. We will maintain our take profit target of 0.8275.
We have three open EURAUD positions, two short positions and one long hedge, which currently carry a floating trading loss of 2,292 pips. This represents a decrease of 62 pips compared to last week. We will maintain our take profit target of 1.3585.
We have three open AUDUSD long positions which currently carry a floating trading loss of 1,604 pips. This represents an increase of 231 pips compared to last week. We will maintain our take profit target of 0.9630.
We have four open AUDJPY positions, three long positions and one short hedge, which currently carry a floating trading loss of 900 pips. This represents a decrease of 190 pips compared to last week. We will maintain our take profit target of 94.00.
We have three open AUDCHF long positions which currently carry a floating trading loss of 1,390 pips. This represents a decrease of 297 pips compared to last week. We will maintain our take profit target of 0.9250.
Our total floating trading loss at the end of the week stood at 10,118 pips and represents a 2013 high which we expect to also represent the peak of our floating trading losses. This represents an increase of 1,109 pips or 12.31% which is also represents an all-time record. This was primarily due to the positive surprise in the NFP data which added to our losses as the USD surged against all major currencies. We expect this move to reverse over the summer.
Losses to related to the AUD accounted for 6,317 pips or 62.43% of all floating trading losses and is down 187 pips or 2.88% compared to last week. USD crosses accounted for 3,780 pips or 37.36% of all floating trading losses. Overall we expect to witness a gradual improvement albeit at a slower pace than desired in out floating trading losses.
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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The second trading week of April is behind us, so let’s recap what happen here atPaxForex. We took a look at the popularity of forex trading which has been on a sharp increase despite economic conditions and while traders have reduced their activities in other sectors of the financial market (Popularity of Forex Trading). We have identifies five key factors why forex trading has enjoyed and continues to enjoy outstanding growth rates as well as popularity.
Later in the week we took a closer look at late British Prime Minister Margaret ‘The Iron Lady’ Thatcher who passed away at the age of 87 (Margaret Thatcher: Political Realism vs. Apathy). She was responsible for many great accomplishments such as reducing the power of trade unions, a surge in privatization and low tax rates in order to stimulate the British Empire. Unfortunately there have been many voices of anger directed at her all the way to happiness about her death.
We closed the week reverting back to the forex theme and published a vital piece of forex literature in order to better the understanding among novice traders as well as seasoned traders when and how forex profits are generated (Forex Profits are generated when you enter your Currency Trade). We strongly recommend you take the time to read it carefully and understand how novice as well as unprofitable traders approach a currency trade and how professional as well as profitable traders approach a currency trade.
Overview of profits for the week which ended April 12th
AUDUSD: 9 pips NZDUSD: 120 pips
Total: 129 pips
Monday, April 8th
NZDUSD Short Recommendation
We recommended a short position at 0.8475 with a take profit level of 0.8400 (NZDUSD Spinning Top at Resistance). This was an addition to our existing short position we took on March 26th at 0.8380 as well as our hedge taken on April 2nd at 0.8430. We closed our hedge for a profit of 120 pips and the two open positions carry a floating trading loss of 322 pips. This represents an increase of 270 pips compared to last week. We maintain our take profit target of 0.8400.
Tuesday, April 9th
USDJPY Short Recommendation
We recommended a short position at 99.25 with a take profit level of 97.25 (USDJPY Bump-and-Run Reversal). This currency pair has moved lower and currently carries a floating trading profit of 83 pips. We will maintain our take profit target of 97.25.
Wednesday, April 10th
USDCHF Long Recommendation
We recommended a long position at 0.9300 with a take profit level of 0.9375 (USDCHF Falling Wedge Formation). This pair has moved slightly lower and currently carries a floating trading loss of 30 pips. We will maintain our take profit target of 0.9375.
Thursday, April 11th
GBPJPY Short Recommendation
We recommended a short position at 153.00 with a take profit level of 148.00 (GBPJPY Overextended Rally). This pair has moved lower and currently carries a floating trading profit of 246 pips. We have adjusted our take profit level to 150.50.
Exit from trades of previous weeks
AUDUSD Hedge
We have closed our open AUDUSD hedge on April 9th for a profit of 9 pips. The hedge was opened on January 24th at 1.04920.
We had a total of four trading recommendations this week, all of which remain open and currently carry a floating trading loss of 23 pips. This represents a decrease of 29 pips compared to last week. We closed two hedges for a profit of 129 pips which equals our total weekly profits.
In addition to the four positions from this week we also carry seven positions from previous weeks. We have three open USDCAD positions, two long positions and one short hedge, which currently carry a floating trading loss of 248 pips. This represents an increase of 102 pips compared to last week. We have increased our take profit level to 1.0350.
We have four open GBPUSD positions, two long positions and two hedges, which currently carry a floating trading loss of 2,174 pips. This represents a decrease of 7 pips compared to last week. We will continue to monitor this currency trade and seek profitable exit levels for both sides of the trade.
We have three open GBPCHF positions, two long positions and one hedge, which currently carry a floating trading loss of 1,564 pips. This represents an increase of 84 pips compared to last week. We will maintain our take profit level of 1.4700.
We have four open EURGBP positions, three short positions and one hedge, which currently carry a floating trading loss of 1,406 pips. This represents an increase of 188 pips compared to last week. We maintain our take profit level of 0.8275.
We have three open EURAUD long positions which currently carry a floating trading loss of 605 pips. This represents an increase of 102 pips compared to last week. We will maintain our take profit level of 1.2575.
We have two open AUDUSD short positions which currently carry a floating trading loss of 327 pips. This represents an increase of 125 pips compared to last week. We will maintain our take profit level of 1.0330.
We have two open AUDCHF short positions which currently carry a floating trading loss of 311 pips. This represents an increase of 90 pips compared to last week. We will maintain our take profit level of 0.9580.
Our total floating trading loss for the week stood at 6,658 pips. This represents an increase of 655 pips or 10.91% compared to last week. This was our first increase in five weeks and we plan to reduce our floating trading losses throughout the rest of the month. GBP related trading losses accounted for 4,898 pips or 73.57% of all losses and are up 21 pips or 0.39% compared to last week. We will maintain our take profit target for April of 1,200 pips as well as our floating trading loss range between 6,000 and 6,500.
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Visit Us www.deryworldscorp.web.idVisit Us www.deryworldscorp.asia
JPY weakens further; Eurozone industrial production disappointed; EURCHF rose. The only item for the US session is chairman Bernanke's speech. 2 The latest on those Jan 7-8 trades: 8 trades hit all targets, 3 were unfilled, 4 remain in progress & 2 stopped out. All 2 EURUSD longs hit all targets , 2 USDJPY hit all targets, 2 GBPUSD hit all targets, 1 EURGBP hit all targets, both Gold in progress, one of which missing the final 1679 target by 1 point. Both Silver longs in progress, 1 of 2 AUDUSD hit all targets, the other missing the highest entry of 1.0450 by 2 pips. Both CADJPY unfilled, 1 of which missed highest entry of 87.90 by 8 pips, Both EURJPY stopped out.
Despite the fact that Tokyo was closed for holidays, JPY continued to weaken. USDJPY rose to 89.62 as traders expect the PM Abe to choose a head for the central bank that shares his belief in easing efforts. The BOJ is expected to review the inflation target and possibly raise it from 1% to 2%. USDJPY fell slightly and trades around 89.30.
EURUSD initially rose to a new 11 month high at 1.3403 but now trades around 1.3360 after Eurozone industrial production fell 0.3% in November while analysts expected 0.2% rise. On a positive note, October's result was revised higher to -1.0% from -1.4%.
Other data showed that Italian industrial production fell 1.0% in November, marginally less than prior decline 1.1% and German WPI was flat in December after declining 0.7% in November.
EURCHF showed an unusual volatility and rose to 1.2276 which is a level last seen in December 2011. The key resistance is 1.2472 which is a high from October 2011 that was reached in reaction to the SNB announcement of the 1.20 floor.
According to MNI calculations, EZ sovereign t-bill issuance this week is seen around EUR 15 bln, lower than last week's EUR 30.5 bln. Bond issuance is estimated at EUR 18.7 bln vs. 26.6 bln last week.
There are no US reports due today. Market volatility could heighten at 10:30 am ET when the BOC releases its business outlook survey and also by the end of the session at 4:00 pm when the FED chairman Bernanke speaks on monetary policy.
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Visit Us www.deryworldscorp.web.id
December, 14 2008 is the highest peak reached by the EUR and GBP for the trip in May 2010 is an indication of bearish momentum where the possibility of consolidation will occur this month to the strongest emphasis on the 61.8% Fibo level which is in the range 0.8290
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Indonesia Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda. Visit Us http://www.deryworldscorponforex.co.cc Support Us Doing Better
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia
Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia
Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia
Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia
Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia
Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Indonesia
Analisa yang kami berikan adalah berdasarkan perkiraan pergerakan rata rata harga dalam satu hari. Tidak menjamin apa yang kami sampaikan adalah sesungguhnya menjadi tepat dan benar. Segala hal yang terjadi dalam anda melakukan keputusan terhadap transaksi trading yang anda lakukan adalah menjadi tanggung jawab anda.
The second trading week of April is behind us, so let’s recap what happen here at
