Recent content by PipCrawler

Last Post: No trade triggered This will be the last “Pick of the Day” for the week as I will be taking off tomorrow to be with the family for the holiday weekend. Tonight’s pick will focus on the Loonie and the Canadian Consumer Price Index report, which is to be released tomorrow morning at...

We’re back to another wonderful week of forex trading, but unfortunately, it’s going to be a short and possibly boring one. We have a light economic release schedule this week, and with the US markets on vacation from Thursday on, we will probably see low volatility and maybe a spike here or...

Last Trade: +20 pips For tonight’s pick, we’re gonna hop on this wild ride called “Cable” and ride it down as the Greenback has been gaining ground against it as of late. We have a couple of big data reports coming up today with GBP Retail Sales number and US CPI data. Now, the GBP Retail...

With constant data out of the US showing a slowing economy, and speculation of a possible Japanese rate hike, I am looking for a short in USD/JPY. Japan did release their Tertiary Industry Index number earlier at -1.3%, which was lower than expected, so we may see the Yen weaken during the...

Last trade: -60 pips We have a couple of major US economic reports tomorrow morning at 8:30 am EST with the monthly US Producer Price Index and US Retail Sales. The US Retail Sales numbers will be more closely watched as the PPI numbers are almost guaranteed to be lower because of lower energy...

Last Trade: -40 pips Now that the Democrats have taken the House and may tie with the GOP for Senate control, we can get back to economic data. I think a lot of traders have stayed on the sidelines to avoid the choppy markets that the mid-term elections and lack of data have produced. We have...

Last Trade: -40 pips At first, I wasn’t going to post up a pick tonight because of the US mid term elections taking place. The uncertainty of the outcome of who will control the House and the Senate was enough to keep me out until the results are in, but as I was reading around the internet...

Like I said in the weekly review, it was a boring day in the markets with the lack of any significant economic reports, and I expect the same tomorrow for the Greenback. For tonight, I am turning to the crosses, EUR/JPY in particular. I’m looking for a reversal and short play in the pair as...

We’ve seen a huge USD sell off, US economy is slowing to a possible recession, and we have Non-Farm Payrolls expected tomorrow to report 125K new jobs were added. So, what’s a trader to do you ask? I say nothing. Everybody and their mama is waiting for this report, and once it’s released...

We have one more trading day before the release of the Non-Farm Payrolls report on Friday, which means we will probably see more consolidation ahead of the report. We do have US economic reports starting at 8:30 am EST, but nothing significant enough to move the markets. The European Central...

Last Trade: +20 pips It’s been a pretty tough week for the Greenback with all the data pointing to a slowdown in the US. Is there relief in site for US Dollar bulls? In the short term – maybe there is. For the past three trading days we’ve watched USD beat down by Cable as the pair moved up...

Last Trade: -46 pips As I said in last night’s trade review, after the moderate Fed comments we should see a continued sell off in USD. Will it be enough to push USD/CHF below the S1 line at 1.2600? I don’t know. What may help our case is the release of US Durable Goods Orders at 8:30 am EST...

Last Trade: +20 pips Everyone has been waiting for the FOMC meeting all week, and now it’s here – how do we trade it? Well, economic data has been pointing to a slowing economy, but inflation is still a big concern with Fed officials. So, the question has been, “Does the Fed raise rates to...

Last Trade: +60 pips Not much going on the economic calendar for tomorrow, but hopefully we can find an opportunity with the Confederation of British Industry (CBI) Industrial Trends Orders. The CBI reports the level of new orders placed with manufacturers. The market is predicting a negative...

Last Pick: +80 pips A slowing US economy has pushed the Greenback lower against many of the major currencies in the past couple of trading sessions. Right now, I see a lot of pairs have reverted back to the mean, so where do we go from here? Does USD continue to sell off or is it a great time...