STRobot has taken an interesting short on GBPJPY it looks like a nice bounce off of the 38.2% fib level targeting the 61.8%. We have Carney speaking later do we have a head and shoulders reversal in progress?
I have also marked the Buy/SELL STRobot signals on this chart so you can see what it does. STRobot ofcourse trades automatically using entry orders. So the fake ones tend to be taken out because they never happen.
As you can see STRobot has a number of good entries on this chart – not forgetting he trades 40 currency pairs.
When your software is better than you at working out the trades!
Well Update 3. GBPCAD 60 odd pips profit and GBPUSD small profit. SignalTrader Trading system 2, Me, 0.
Looks like Sterling is going up in the last 1/2 hour i have BUY orders, buy DIAMOND and a buy trend. Looks like any second we are going to reach for the stars. This is why we place “entry orders” only on our trades, they can change before they take!
Ok I’m buying GBPJPY and continuing to sell rallies on AUDUSD as well.
Daily GBPJPY shows a turn down on the MACD, it’s quite fast but I think it’s only temporary and we will continue with upside, I have checked this with a currency strength chart (clicky) funnily enough, I did read on tradingview comments someone has posted “JPY is the strongest currency at the moment”. I really can’t see how that is? JPY have introduced huge QE measures. Anyway the currency strength meters give the true story. So I entered this morning on a signal from the MACD and off we go.
Accidentally I placed a sell on AUDJPY – these things happen. I meant to do AUDUSD. Need coffee.
AUDUSD continues bearish target 1.013 . AUDJPY as well targets the magic 100.
Steering clear of EURUSD as both EUR and USD seem to be playing a game of bad data good speeches. So they are both as bad as each other. It seems both currencies emit bad data, whilst their speeches pretend everything is ok.
As far as I can see pretty much ALL the currencies are falling. It’s just finding the ones that are falling fastest.
Well although EURUSD did manage a 5pip up start it quickly fell back down again. I think this week we will see the rise of the USD from the ashes. More trouble in the EUR zone is brewing but I think current worries are built into the price at this stage.
The thing about USD is that there was higher than expected employment figures, higher employment means more spending and production which means an increased GDP for the USD which means….well you guessed it… EUR may be falling like a log.
Oh and a little bird told me to buy AUDJPY which I have this morning aiming for 106 somewhere (actually it was 3 quite big bank birds).
The markets were not impressed by Fed’s Ben avoiding monitory policy. Here’s why. I think BEN was on purpose not talking about it, although there WERE bad figures, there was better than expected employment figures. A lot of things are fuelled by employment. For example…if more people work more people earn and more people spend. So next month I think things will be quite different and probably quite bearish from the EUR.
At the moment it burst up through the top of my trend *BUT* my feelings are that this is a false break and that we will see a bearish move on Monday to help form a bottom of the bearish chart. But ofcourse I could be wrong. Don’t forget that Cyprus is not over yet and there are quite a few sleeping dragons in the EUR group who are in danger. Slovenia, Luxembourg etc etc.
Mysterious EURUSD behaving quite strangely, it looks like a false break doesn’t it but here’s my concern about this break. Firstly, yesterday the pair didn’t continue to the top of the channel, secondly, about 11pm last night, there was a massive downward spike, very fast that then proceeded to not materialise in the usual upward push.
That coupled with the news that little Luxembourg is also struggling to stay afloat with the EUR means for me the whole thing is a ticking time bomb. Although I think the trade is sitting back in it’s old BULLISH channel. It’s struggling to hold on and with the FED speech today (an important one) and a lack of anything important EUR (at the moment this may change) I would imagine a BULLISH trade on here may make some profit initially but could come crashing down.
To be honest, the EUR feels like a baby with a bad tummy, you know baby is going to explode, but you just don’t know when. Just stand back bulls and don’t put anything too risky on.