eToro – Forex Trading Forum

[BlueinGreen]

Hey Traders

we can summarize this week as a Dollar rebound week to its strong action the week before.
although USDJPY and EURJPY did not change much the last few days and are trading for now in a tight range.

AUDUSD has once again broke through 0.9500 maintaining its up trend complete (on a daily chart). It looks like people are still very much into the carry trade, not being afraid of any interest rate change in the near future.
actually one of the better trades i had the last few weeks was longing AUDJPY
which just keeps on going with no regard of what AUDUSD is doing so far.

Yesterday we also had a very good daytrade opportunity right after the U.S numbers came out.
First The Unemployment Claims came at 1:30pm higher than expected( which is not so good), later on we had the Philadelphia Fed Manufacturing Index at 3:00pm coming out at -17.1 (while the expected was -10).
right after the last report buying the EURUSD for a few hours was a good trade, since the numbers did not support the dollar and we are already in the middle of a correction move on the dollar -- put 1 + 1 together and you got a daytrade with a good win lose ratio.

Maybe in the future if i have more time i will update you all on potential day trades right away.

Today we have ECB president speech – so of course the market will be listening. be on the lookout. Before that we have some important news for Cad traders.



7:00am EUR German PPI m/m forecast 0.9% previous 1.1%

1:30pm CAD Core Retail Sales m/m forecast 0.5% previous 0.0%

5:45pm EUR ECB President Trichet Speaks



CAD Core Retail Sales m/m forecast = Change in the total value of sales at the retail level, excluding automobiles;

Happy trading