Boris and Kathy's FX Blog www.bktraderfx.com
10/03/2006
Tuesday's Email Alerts
Alert # 3 - More to this Break in USD/CAD
The break higher today in USD/CAD is looking very constructive. The currency pair has cleared all moving averages on the daily as well as the 50% fibo resistance stemming from the 1.0932-1.1458 rally - which we find quite meaningful. The currency is finally reacting to the drop in oil!
As long as it holds above 1.1150, any buy on dip opportunity would probably be a smart move. First level of resistance is not far though at 1.1280, which were former highs, but above that, we culd see it hit 1.1330 if not more.
Alert # 2 Tightening Stop in USD/JPY
USD/JPY was moving our way in the wee hours and stopped 10 pips short of our first target after North Korea announced plans to conduct another nuclear test. Although we still like the USD/JPY to the short side, if it manages to break above 118.00, the odds for our stop being taken out would be extremely high.
Therefore, we want to tighten up the stop to 118.10 and reduce the risk on the trade to 35 pips.
Alert #1 Moving Stop in CAD/JPY
With Market within points of our T1 target of 105.18 we are going to take the profit on half the position right here at 105.25 banking 53 points. The rest of the trade stays in play with stop at break even
We are still aiming a second target of 104.45.
Alert # 3 - More to this Break in USD/CAD
The break higher today in USD/CAD is looking very constructive. The currency pair has cleared all moving averages on the daily as well as the 50% fibo resistance stemming from the 1.0932-1.1458 rally - which we find quite meaningful. The currency is finally reacting to the drop in oil!
As long as it holds above 1.1150, any buy on dip opportunity would probably be a smart move. First level of resistance is not far though at 1.1280, which were former highs, but above that, we culd see it hit 1.1330 if not more.
Alert # 2 Tightening Stop in USD/JPY
USD/JPY was moving our way in the wee hours and stopped 10 pips short of our first target after North Korea announced plans to conduct another nuclear test. Although we still like the USD/JPY to the short side, if it manages to break above 118.00, the odds for our stop being taken out would be extremely high.
Therefore, we want to tighten up the stop to 118.10 and reduce the risk on the trade to 35 pips.
Alert #1 Moving Stop in CAD/JPY
With Market within points of our T1 target of 105.18 we are going to take the profit on half the position right here at 105.25 banking 53 points. The rest of the trade stays in play with stop at break even
We are still aiming a second target of 104.45.
posted by BKTrader # 10/03/2006 06:07:00 PM 
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