Boris and Kathy's FX Blog www.bktraderfx.com
10/05/2006
Today's Email Alerts:
Alert # 3
Payrolls are due out tomorrow and its really a cointoss at the moment. We are looking for a weaker number, but it really doesnt matter which way it swings since what we really want is some action! We posted a full NFP outlook on DailyFX (click here) if you want more info on that.
Otherwise, we took profit on our first lot of USD/JPY at 117.57 and still have a second lot on with a breakeven stop of 117.80. This still looks good to us technically and in line with our weak payroll view. Since its just house's money at this point, we are comfortable keeping it on.
Some other things that we want to point out: Oil is back above $60 - USD/CAD is looking like its topping out with a possible move down to 1.1200 - another high probability setup that requires mentioning but we are on the sidelines given NFPs tomorrow.
Yen linked pairs are all sitting at key support levels which can offer low risk trades if they begin to bounce post payrolls.
Lastly, we want to extend a warm welcome to all of our new subscribers!
Alert #2
BOE held rates at 4.75% as expeceted and ECB is projecetd to got to 3.25% in the next half hour. Most probable impact for the day? Watch EUR/GBP it may extend the recent bounce all teh way to 6770 but risk here should be very tight. If it gives up 6740 the news is probably not euro bullish and you should bail.
Alert # 1
With yen within a few points of our T1 target of 117.50 we are going take profits here on the first half of the trade at market (currently) 117.56 and got to break even on our stop. If all CB rate annoucemnet news goes our way T2 should be within our reach if not we'll at least take something off the table. Given the fact that this is the yen we are trading a bird in hand is worth two in the bush.
Finally a big shoutout to all the Booker crew. Welcome we ra every glad to have you on board.
Alert # 3
Payrolls are due out tomorrow and its really a cointoss at the moment. We are looking for a weaker number, but it really doesnt matter which way it swings since what we really want is some action! We posted a full NFP outlook on DailyFX (click here) if you want more info on that.
Otherwise, we took profit on our first lot of USD/JPY at 117.57 and still have a second lot on with a breakeven stop of 117.80. This still looks good to us technically and in line with our weak payroll view. Since its just house's money at this point, we are comfortable keeping it on.
Some other things that we want to point out: Oil is back above $60 - USD/CAD is looking like its topping out with a possible move down to 1.1200 - another high probability setup that requires mentioning but we are on the sidelines given NFPs tomorrow.
Yen linked pairs are all sitting at key support levels which can offer low risk trades if they begin to bounce post payrolls.
Lastly, we want to extend a warm welcome to all of our new subscribers!
Alert #2
BOE held rates at 4.75% as expeceted and ECB is projecetd to got to 3.25% in the next half hour. Most probable impact for the day? Watch EUR/GBP it may extend the recent bounce all teh way to 6770 but risk here should be very tight. If it gives up 6740 the news is probably not euro bullish and you should bail.
Alert # 1
With yen within a few points of our T1 target of 117.50 we are going take profits here on the first half of the trade at market (currently) 117.56 and got to break even on our stop. If all CB rate annoucemnet news goes our way T2 should be within our reach if not we'll at least take something off the table. Given the fact that this is the yen we are trading a bird in hand is worth two in the bush.
Finally a big shoutout to all the Booker crew. Welcome we ra every glad to have you on board.
posted by BKTrader # 10/05/2006 05:54:00 PM 
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