Boris and Kathy's FX Blog www.bktraderfx.com
10/10/2006
Today's Email Alerts:
Alert #2: Euro Turn Short Term Trade
We are updating the Target on our EUR/USD long trade The first target should be 1.2560 Long EUR/USD at 1.2535, stop at 1.2510. First target is 1.2560, second target is 1.2625. If the first target is reached, move your stop to breakeven.
The dollar has been very strong today leading the Euro to fresh two month lows. We are seeing signs of exhaustion that may give us an opportunity for a small risk turn to the upside. We are going long here at 1.2535.
Alert #1: Watch the Yen
For the second consecutive month The Eco Watchers survey printed above the 50 boom/bust level coming in at 51.0. The man in the street survey of barbers waiters and taxi drivers is our single most favorite indicator of true state of economic conditions in Japan and right now it is signaling all systems go.
The Eco Watchers tends to be an early forcaster of the turn in USD/JPY so for now we just want to watch the price action. In EUR/JPY - where 150 appears to be a cement ceiling for the pair - there may be a tempting trade. For those who want to take a shot at a short keep the stops no wider than 150.60.
Alert #2: Euro Turn Short Term Trade
We are updating the Target on our EUR/USD long trade The first target should be 1.2560 Long EUR/USD at 1.2535, stop at 1.2510. First target is 1.2560, second target is 1.2625. If the first target is reached, move your stop to breakeven.
The dollar has been very strong today leading the Euro to fresh two month lows. We are seeing signs of exhaustion that may give us an opportunity for a small risk turn to the upside. We are going long here at 1.2535.
Alert #1: Watch the Yen
For the second consecutive month The Eco Watchers survey printed above the 50 boom/bust level coming in at 51.0. The man in the street survey of barbers waiters and taxi drivers is our single most favorite indicator of true state of economic conditions in Japan and right now it is signaling all systems go.
The Eco Watchers tends to be an early forcaster of the turn in USD/JPY so for now we just want to watch the price action. In EUR/JPY - where 150 appears to be a cement ceiling for the pair - there may be a tempting trade. For those who want to take a shot at a short keep the stops no wider than 150.60.
posted by BKTrader # 10/10/2006 10:35:00 PM 
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