Boris and Kathy's FX Blog www.bktraderfx.com

** It's been a busy day, we banked 3 winning trades for a total of 128 pips!

Today's Email Alerts

Alert # 6 AUD/CAD Taking Profits Here

We're taking profits on our first lot of AUD/CAD here at 0.8555 (+20 pips), moving stop to breakeven on second lot. The breakout in AUD/USD is encouraging us to be a bit more conservative on this trade.

And no one ever went poor taking profits!

Alert # 5 Trade Updates and T2 on USD/CAD

Apologies for the bombardment of emails today, but we have waited long for for a busy trading day!

We're taking profits on our second lot of USD/CAD here. The sell-off stopped exactly at the 200-day SMA and unfortunately our BE stop of 1.1347 is not at a critical technical level, it is below it which means it can still bounce, take us out and then continue lower. We refuse to up our stop to a key technical level and risk giving back some of our profits. We have banked 37 pips on the first low and are now cashing in on 32 pips on the second lot (USD/CAD currently at 1.1315).

Trade Updates We have gotten a slew of questions on USD/JPY. We got taken out of our T2 at breakeven. Lots of you are still in. Congrats. You should manage the trade as you see fit since we are not in it with you.
We are also completely out of the EUR/GBP trade for 15 pip profit on the first lot and 25 pip on the second.
We only have an open AUD/CAD short. Its at breakeven right now and starting to trade lower. We still like it.

Alert # 4 Take Profits on USD/CAD

Awful Philly Fed has sent USD/CAD to 1.1310. Take profits on first lot here for +37 pip profit, move stop on second lot to breakeven

Alert # 3 OPEC to Crush USD/CAD

Saudi Arabia announced that they back OPEC's plans to cut production by 1 million barrels a day. THe cuts are to take in effect Nov 1 and more could be announced at their December. Clearly OPEC is having a big problem with the current price of oil and we expect more aggressive cuts from them if prices do not budge.

Here's another soft recommendation > Short USD/CAD, today's high as stop. It's current trading at 1.1347


Alert # 2 EUR/GBP Banking Profits on Rest +25

Euro has rallied off the news that German eco institutes have upgraded GDP growth to 2.3% from 1.9%. We are going to close out the second half of our EUR/GBP long at market (currently .6725) for a gain of +25 point on this part of the position. In total we we took out 40 (+15 and +25) points out of this trade.

Alert # 1 EUR/GBP Taking Profits

For those of you who took our soft recommendation ( a rec where we make a trade suggestion but do not set hard profit targets) on going long EUR/GBP this morning we are going to close out half the trade at 6714 (+14 points) and move the stop to breakeven (6700) in our case.