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FXLR Daily Roundup – 30th April 2009

Summary

- 7 Live Room trade calls; 5 wins, 2 losses.
- 1 Intra-day trade calls; 1 win.

Live room trades

GBP/USD - Long Call (+21 pips)
Live Room Call: Entry on the break of 1.4850
Trade: Break of resistance
1st Level: 1.4872, +22 pips
2nd Level: 1.4870, +20 pips
Stop: 1.4825
(Allow few pips for slippage on entry/exit levels)

USD/CHF - Short Call (+13 pips)
Live Room Call: Entry on the break of 1.1300
Trade: Break of support line
1st Level: 1.2974, +26 pips
2nd Level: 1.1300, +0 pips
Stop: 1.1325
(Allow few pips for slippage on entry/exit levels)

AUD/USD - Long Call (+49 pips)
Live Room Call: Entry on the break of 0.7283
Trade: Break of resistance
1st Level: 0.7325, +42 pips
2nd Level: 0.7340, +57 pips
Stop: 0.7260
(Allow few pips for slippage on entry/exit levels)

USD/CAD - Short Call (-13 pips)
Live Room Call: Entry on the break of 1.1908
Trade: Break of support
1st Level: 1.1921, -13 pips
Stop: 1.1921
(Allow few pips for slippage on entry/exit levels)

AUD/USD - Long Call (+24 pips)
Live Room Call: Entry on the break of 0.7358
Trade: Break of resistance
1st Level: 0.7382, +24 pips
Stop: 0.7340
(Allow few pips for slippage on entry/exit levels)

EUR/USD - Long Call (-10 pips)
Live Room Call: Entry on the break of 1.3378
Trade: Break of resistance
1st Level: 1.3368, -10 pips
Stop: 1.3360
(Allow few pips for slippage on entry/exit levels)

GBP/USD - Long Call (+11 pips)
Live Room Call: Entry on the break of 1.4909
Trade: Break of resistance
1st Level: 1.4920, +11 pips
Stop: 1.4885
(Allow few pips for slippage on entry/exit levels)

Intra-day trades

EUR/USD - Short trade closed (+38 pips, ave.)
Opened Short: EUR/USD @ 1.3274
Stop level: 1.3305
Target level: 1.3150
Closed: 1.3228 (1/2: +30 pips, 1/2: +46 pips)
Half closed at 1.3244

Have a good evening.

FXLR team
www.forexliveroom.com

FXLR Daily Roundup – 29th April 2009

A nice week so far, with +96 pips on Monday, +74 on Tuesday, and +183 pips today.

Summary

- 6 Live Room trade calls; 2 wins, 2 breakevens, 1 loss, 1 trade still open.
- 2 Intra-day trade calls; 1 win, 1 breakeven.

Live room trades

GBP/USD - Short Call (+6 pips)
Live Room Call: Entry on the break of 1.4722
Trade: Weakness from upper resistance line in a rising wedge
1st Level: 1.4710, +12 pips
2nd Level: 1.4722, +0 pips
Stop: 1.4735
(Allow few pips for slippage on entry/exit levels)

USD/JPY - Short Call (+0 pips)
Live Room Call: Entry on the break of 96.74
Trade: Break of support line
1st Level: 96.74, +0 pips
Stop: 96.97
(Allow few pips for slippage on entry/exit levels)

AUD/USD - Long Call (+0 pips)
Live Room Call: Entry on the break of 0.7140
Trade: Break of ascending triangle
1st Level: 0.7140, +0 pips
Stop: 0.7115
(Allow few pips for slippage on entry/exit levels)

EUR/JPY - Short Call (+21 pips)
Live Room Call: Entry on the break of 127.80
Trade: Break of rising wedge
1st Level: 127.38, +42 pips
2nd Level: 127.80, +0 pips
Stop: 128.15
(Allow few pips for slippage on entry/exit levels)

GBP/USD - Short Call (-14 pips)
Live Room Call: Entry on the break of 1.4721
Trade: Weakness from upper resistance line in a rising wedge
1st Level: 1.4735, -14 pips
Stop: 1.4735
(Allow few pips for slippage on entry/exit levels)

USD/CHF - Short Call - trade is still open
Live Room Call: Entry on the break of 1.1402
Trade: Break of support line
1st Level: 1.1372, +30 pips
2nd Level: (trade is still open with a trailing stop)
Stop: 1.1427
(Allow few pips for slippage on entry/exit levels)

Intra-day trades

GBP/USD - Long trade closed (+10 pips, ave.)
Opened Long: GBP/USD @ 1.4768
Stop level: 1.4748
Target level: 1.4900
Closed: (1/2: +20 pips, 1/2: +0 pips)
Half closed at 1.4788

EUR/JPY - Short trade closed (+0 pips)
Opened Short: EURJPY @ 128.20
Stop level: 128.53
Target level: 126.50
Closed: 128.20 (+0 pips)
Closed after moving 17 pips into profit.

FOMC night today, this should provide some good trading opportunities. Keep an eye out for the updates.
Have a good evening.

FXLR team
www.forexliveroom.com

FXLR Daily Roundup – 28th April 2009

Summary

- 6 Live Room trade calls; 2 wins, 2 breakevens, 1 loss.
- 1 Intra-day trade call1; 1 win.

Live room trades

GBP/USD - Short Call (+10 pips)
Live Room Call: Entry on the break of 1.4544
Trade: Break of support line
1st Level: 1.4524, +20 pips
2nd Level: 1.4544, +0 pips
Stop: 1.4570
(Allow few pips for slippage on entry/exit levels)

USD/JPY - Short Call (-5 pips)
Live Room Call: Entry on the break of 95.75
Trade: Break of support line
1st Level: 95.80, -5 pips
Stop: 95.95
(Allow few pips for slippage on entry/exit levels)

AUD/USD - Short Call (+0 pips)
Live Room Call: Entry on the break of 0.7007
Trade: Break of support line
1st Level: 0.7007, +0 pips
Stop: 0.7032
(Allow few pips for slippage on entry/exit levels)

USD/JPY - Long Call (+0 pips)
Live Room Call: Entry on the break of 95.92
Trade: Break of swing high.
1st Level: 95.92, +0 pips
Stop: 95.70
(Allow few pips for slippage on entry/exit levels)

USD/JPY - Long Call (+50 pips)
Live Room Call: Entry on the break of 95.97
Trade: Break of swing high.
1st Level: 96.35, +38 pips
2nd Level: 96.59, +62 pips
Stop: 95.70
(Allow few pips for slippage on entry/exit levels)

USD/CHF - Short Call (-10 pips)
Live Room Call: Entry on the break of 1.1547
Trade: Break of support line
1st Level: 1.1557, -10 pips
Stop: 1.1577
(Allow few pips for slippage on entry/exit levels)

Intra-day trades

USD/CHF - Short trade closed (+29 pips, ave.)
Opened Short: USD/CHF @ 1.1540
Stop level: 1.1570
Target level: 1.1450
Closed: 1.1505 (1/2: +24 pips, 1/2: +35 pips)
Half closed at 1.1516
Have a good evening.

FXLR Team
www.forexliveroom.com

FXLR Daily Roundup – 27th April 2009

Summary

- 3 Live Room trade calls; 3 wins.
- 5 Intra-day trade calls; 4 wins, 1 breakeven.

Live room trades

GBP/USD - Short Call (+10 pips)
Live Room Call: Entry on the break of 1.4546
Trade: Break of support line
1st Level: 1.4526, +20 pips
2nd Level: 1.4546, +0 pips
Stop: 1.4580
(Allow few pips for slippage on entry/exit levels)

GBP/USD - Short Call (+13 pips)
Live Room Call: Entry on the break of 1.4560
Trade: Break of support line
1st Level: 1.4534, +26 pips
2nd Level: 1.4560, +0 pips
Stop: 1.4585
(Allow few pips for slippage on entry/exit levels)

EUR/USD - Short Call (+8 pips)
Live Room Call: Entry on the break of 1.3145
Trade: Break of support line
1st Level: 1.3129, +16 pips
2nd Level: 1.3145, +0 pips
Stop: 1.3170
(Allow few pips for slippage on entry/exit levels)

Intra Day Trades

USD/CHF - Long trade closed (+11 pips, ave.)
Opened Long: USD/CHF @ 1.1473
Stop level: 1.1448
Target level: 1.1580
Closed: (1/2: +22 pips, 1/2: +0 pips)
Half closed at 1.1495

USD/CHF - Short trade closed (+0 pips)
Opened Short: USD/CHF @ 1.1473
Stop level: 1.1501
Target level: 1.1380
Closed: 1.1473 (+0 pips)

EUR/USD - Long trade closed (+10 pips, ave.)
Opened Long: EUR/USD @ 1.3137
Stop level: 1.3107
Target level: 1.3200
Closed 1.3137 (1/2: +20 pips, 1/2: +0 pips)
Half closed at 1.3157

USD/CHF - Long trade closed (+39 pips, ave.)
Opened Long: USD/CHF @ 1.1547
Stop level: 1.1510
Target level: 1.1650
Closed: 1.1595 (1/2: +30 pips, 1/2: +48 pips)
 
EUR/USD - Short trade closed (+5 pips)
Opened Long: EUR/USD @ 1.3009
Stop level: 1.3030
Target level: 1.2950
Closed: 1.3004 (+5 pips)

Have a good evening.

FXLR team
www.forexliveroom.com

FTSE has a late rally after poor start

The FTSE 100 closed up 11 points at 4,167, whilst the FTSE 250 down nearly 90 points at 7,280, and for those that are interested the FTSE Small Caps closed down 13 points at 2,123.  The headline shares did put in a late rally, with the pharmaceutical stocks doing quite well in the end, but the whole thing wasn’t much to call home about.  The weakness in the travel firms and airlines due to this latest worldwide possible pandemic of swine flu was offest somewhat by the pharmas, who will now be producing vacinations like there is no tomorrow.  Whichj there might not be if you read the papers. The global flu pandemic is growing.

Over the pond, by the time London closed the DJIA was up 15 points to 8,091, whilst the S&P500 down nearly a point at 865, and the Nasdaq just about even at 1,694.  A poor start soon turned, but investors were apparently very concerned about how close Mexico is to the US.  The swine flu has kicked off in Mexico.  The pressures of the glovbal recession were still there, but this possible pandemic just added to the woes.

Back here in London, as said above, the travel and leisure companies had the worst day, as fears grew that a spread in pig flu would impact travel and hit holiday plans. Airline British Airways had a bad day, down 12.7p at 151.2p, while even no-frills carrier easyJet fell 15p to 320.25p, despite not flying to Mexico or the USA.  Even the bus and train operators were caught up in the travel worries, with National Express down 7.25p at 255.75p, Go-Ahead down 4p at 1,244p, and First Group down 1.75p at 312.25p. Holiday companies also suffered, obviously, as a reluctance to travel is on the cards, as the flu outbreaks are now being reported in Europe as well as USA & Mexico. Cruise ship operator Carnival had a bad day, down 132p at 1,807p, whilst Thomas Cook was down 12.5p at 270.25p, and TUI Travel down 9p at 262.75p.

Intercontinental Hotel Group closed down 28.5p at 643.5p, while budget hotel owner Whitbread slumped 21.5p to 898p.

Thanks (?) to the panic, pharmaceutical companies did well, with vaccine maker GlaxoSmithKline having the best day, closing up 57p at 1,063p, whilst Shire closed up 15.5p at 890.5p, and AstraZeneca up 89p at 2,483p.

Banking shares were mixed, with Barclays down 1.75p at 234.25p, RBS up 1p at 34.3p, and Lloyds Banking Group up 0.5p at 100.5p.

On to insurance, where Norwice Union owner Aviva closed up 13.75p at 287p after announcing life and pension sales were up by 11% in the 3 months to March.

On to the black stuff, where oil was around $49 a barrel. BP closed up 4.5p at 483.25p as some decent results are expected tomorrow, whilst RD Shell closed down 10p at 1,529p and BG Group closed down 18p at 1,067p.

Forex Market Update

London Session

The World Health Organisation’s warning of a possible global pandemic of swine flu has given a new reason for the markets to not know what to do, it seems.

The stock markets in Asia were down on the news, whilst oil is weaker both on the fear that this could stifle economic recovery but also on the likelihood that tourism and consequently air flights could be the first to suffer.  The green back and other safe havens will probably do better than most in any state of uncertaincy.  Min you, the shiny stuff didn’t do very well, with gold giving back some of its gains during London trading this morning following last week’s news that the China had increased its holdings of gold by 76% since 2003.

On to Forex, where the US Dollar gave back some of its overnight gains against the EUR.  EUR/USD bounced off the 1.3122 level, and then  rather choppy session has ensued. 

In addition to the Swine Flu news, the USD has been supported by a press report that German banks potentially face another €812 bln in write downs.  Blimey.  But the underlying tone of the Euro has been lifted by a better-than-expected German April Gfk consumer confidence survey (2.5), as well as an upturn in the Italian April consumer confidence data (104.9, up from 99.8 in March).   Following last week’s better than expected PMI and German IFO data optimism is spreading that the Euro Zone may have seen the worse of the downturn.  Further hopes that the ECB will join the global cash creation club, helping the less gloomy economy outlook by adopting some form of quantitative easing at next week’s ECB meeting are high. 

On to Sterling, where Cable has been pivoting around the 1.4550 level ensuring that the EUR/GBP takes it lead from EUR/USD.  The UK media and press continue to digest the implications of last week’s Budget.  The Tories reaction to the budget has been qwuite good, with most believing they will take power next year. This could help the Pound longer term, even before they come to power as confidence in the economy will grow.

USD/JPY has been reluctant to hold below the 96.50 level during European trading, but a continuation of the Swine Flu reports should keep the JPY under pressure.

FXLR Daily Roundup – 24th April 2009

Summary

- 2 Live Room trade calls; 1 win, 1 breakeven.
- 3 Intra-day trade calls; 1 win, 1 breakeven, 1 loss.
End of a great trading week.

Total trades: 24 (Live Room Calls and Intra-day Alerts)
Wins: 18
Breakeven: 4
Losses: 2

Total Pips: +368

Live room trades

GBP/USD - Short Call (+0 pips)
Live Room Call: Entry on the break of 1.4636
Trade: Break of rectangle
1st Level: 1.4636, +0 pips
Stop: 1.4663
(Allow few pips for slippage on entry/exit levels)

AUD/USD - Long Call (+21 pips)
Live Room Call: Entry on the break of 0.7155
Trade: Break of ascending triangle
1st Level: 0.7175, +20 pips
2nd Level: 0.7177, +22 pips
Stop: 0.7130
(Allow few pips for slippage on entry/exit levels)

Intra-day trades

GBP/JPY - Short trade closed (+0 pips)
Opened Short: GBP/JPY @ 141.44
Stop level: 141.85
Target level: 140.00
Closed: 141.44 (+0 pips)

GBP/USD - Long trade closed (+53 pips, ave.)
Opened Long: GBP/USD @ 1.4650
Stop level: 1.4615
Target level: 1.4770
Closed: 1.4726 (1/2: +30 pips, 1/2: +76)
Closed half at 1.4680

USD/JPY - Short trade closed (-29 pips)
Opened Short: USD/JPY @ 96.81
Stop level: 97.10
Target level: 96.00
Closed: 97.10 (-29 pips)

Have a great weekend.

FXLR team
www.forexliveroom.com

FXLR - Trade Update - 23Apr09

A profitable St. George’s Day today. 
3 trades, all winners.

Live Room Trade

Just one…
USD/JPY - Long trade (+21 pips).
Triangle break out.

Intra Day Trades

EUR/JPY - Short trade (+42 pips.)
Opened Short: EURJPY @ 128.17
Stop level: 128.45
Target level: 127.00
Closed: 127.73 (1/2: +40 pips, 1/2: +44 pips)
Closed half at 127.77.

AUD/USD - Long trade closed (+16 pips, ave.)
Opened Long: AUD/USD @ 0.7115
Stop level: 0.7085
Target level: 0.7240
Closed: 0.7115 (1/2: +32 pips, 1/2: +0 pips)
Half closed at 0.7147
Break of triangle on 1hr

Happy Trading
FXLR Team
www.forexliveroom.com

London Session

The London session saw the buck under pressure as economic reports across the pond were more upbeat than anticipated. Euro was better bid as data in the eurozone improved. The most notable was the composite PMI (includes manufacturing and services) which popped to a better than expected 40.5 in April from a 38.3 result prior. This is the best figure since October and the indicator has good leading properties for the overall economy to boot.

EUR/USD was squeezed another +50 pips higher, adding to earlier gains. Look for a break above the 200hr moving average now at 1.3101 to elicit some more buying interest here.  We need under 1.3030/20 to shift the short-term focus lower.

Here in London, news about the bloated deficit and tax hikes continued to keep gains in GBP under wraps. Economic data showed little improvement with the Confederation of British Industry’s (CBI) monthly survey of manufacturers for April showing orders at -57, from -58 last month. Sterling was relatively unchanged and trading near the 1.4540 open just ahead of the New York kick off. This left EUR/GBP up around +30 pips to 0.8990. Look for resistance here into the obvious 0.9000 and then 0.9030 next.

The New York session now sees some important top-tier economic data. Initial jobless claims will be closely watched at 8.30am ET as the market braces for a reversal of last week’s low-ball 610K number, which was influenced by seasonal adjustment difficulties around the Easter holiday.  The consensus is for an increase to 640K but forecasts range from 610K to 700K.  We think we should be expecting for the worse. A number near or above 700K should put a dent in the risk rally this morning and send EUR and the JPY long trades being closed.

Watch this space…

FXLR Daily Roundup – 22nd April 2009

Summary

- 4 Live Room trade calls today; 4 wins.
- 1 Intra-day trade calls; 1 win.

Live room trades

USD/JPY - Short Call (+5 pips)
Live Room Call: Entry on the break of 98.20
Trade: Break of trendline
1st Level: 98.10, +10 pips
2nd Level: 98.20, +0 pips
Stop: 98.45
(Allow few pips for slippage on entry/exit levels)

GBP/USD - Short Call (+17 pips)
Live Room Call: Entry on the break of 1.4588
Trade: Break of support
1st Level: 1.4572, +16 pips
2nd Level: 1.4570, +18 pips
Stop: 1.4605
(Allow few pips for slippage on entry/exit levels)

GBP/USD - Short Call (+23 pips)
Live Room Call: Entry on the break of 1.4558
Trade: Break of flag
1st Level: 1.4538, +20 pips
2nd Level: 1.4532, + 26 pips
Stop: 1.4575
(Allow few pips for slippage on entry/exit levels)

AUD/USD - Short Call (+26 pips)
Live Room Call: Entry on the break of 0.7048
Trade: Break of flag
1st Level: 0.7028, +20 pips
2nd Level: 0.7016, + 32 pips
Stop: 0.7070
(Allow few pips for slippage on entry/exit levels)
Intra-day trades

USD/CHF - Short trade closed (+25 pips, ave.)
Opened Short: USD/CHF @ 1.1635
Stop level: 1.1670
Target level: 1.1560
Closed: 1.1615 (1/2: +30 pips, 1/2: +20)
Half position closed 1.1605

See you in the morning.

FXLR team
www.forexliveroom.com