2007 - Year End

Greetings fellow readers of ForexNewsPaper.blogspot.com,

The year 2007 is coming to an end soon and most of us has already closed our books for the trading year. 2007 has definitely been on interesting trading year with full of surprises and mega movements. Nonetheless, all of us can't wait for 2008 to start with all of us back in the trading arena.

I have officially closed my books for 2007 with a couple of last minute trades :) There will be no updates for the rest of 2007 because I will be away on holiday, enjoying my lifestyle and will only be back in 2008 :)

2007 - Some of us made handsome profits while others made ugly losses. For profitable traders, continue to be profitable next year, maintain your good discipline and abide by your strategies diligently. Do not be over confident :) For those with negative accounts, do not despair. Spot and analyse on where you went wrong and do not repeat your mistakes. Important note, do not convert your mistakes into bad trading habits. That's a nightmare for any traders :)

With that, I will like to wish loyal readers of ForexNewsPaper.blogspot.com and everyone around the world a Merry Christmas and a Happy New Year. May 2008 be another prosperous trading year and hopefully, Osamex will finally make his appearence to host the weekly video Forex analysis on ForexNewsPaper.blogspot.com in 2008 :)

Warmest Regards,
ForexNewsPaper.blogspot.com

Selamat Hari Raya Haji (Aidil'Adha)

Wishing all of the Muslim readers and Muslims all over the world a Selamat Hari Raya Haji (Aidil'Adha) and to all non-muslims, a Happy Holiday :)

From: ForexNewsPaper.blogspot.com

My GBP/USD Trade (19-12-2007)

*Attached charts to this post (Before & After), click on it for the enlarged version.

Hello everyone,

My trade today (19-12-2007) with the GBP/USD.

Basically, I was looking at the EUR/USD but something pulled me over to see GBP/USD instead. Just happen when I was looking at it, candle pattern was happening right in front of me, very nice and sexy, I shorted GBP/USD at the price line of 2.0079 at 5:46pm (Singapore Time). My Stop Loss was at 2.0115(36pips) and Target Profit at 1.9975(104pips).

I did my stuff for Hari Raya Haji tomorrow, just happened to check my laptop now at around 1:00am (Singapore Time), my Target Ptofit has been hit at 12:32am (Singapore Time). 104pips profit for this trade :)

Peace, trade and close books safely everyone...

My EUR/USD Trade (17-12-2007) - (Update)

*Attached chart, click on it for the enlarged version.

Harlow :)

Update of the trade from my previous post > My EUR/USD Trade (17-12-2007).

I just got home. It is 11:50pm(Singapore Time). This trade has stopped me out at 1pip profit :P It was triggered at 10:15pm(Singapore Time).

Nonetheless, it does look like it is in a very nice bear flag.

My books are officially closed from last Friday but from the bear flag that I am seeing, I will not hesitate to short it if I just happened to be there when it happens. I won't be hunting for it :)

Peace and trade safely everyone...

My EUR/USD Trade (17-12-2007)

*Attached chart to this post, click on it for the enlarged version.

Hello everyone,

Today, I was looking at the charts out of boredom, my books are suppossed to be closed :P Hahaha.

Anyway, I saw on the EUR/USD that there was a loss of momentum on the upside plus my own analysis, so I initiated a short position at the price line of 1.4430 at 2:25pm (Singapore Time). My Stop Loss was at 1.4465(35pips) and Target Profit at 1.4320(110pips).

At 6:00pm (Singapore Time), I went out and I was already 50pips in the money. So, I shifted my stop loss to 1.4429, 1pip away from entry. Anything happens, at least 1pip profit :P Hehehe...

The current low for the day was at around 1.4330, dammit, an inch away from my target profit.

This trade is still open and an update on it will definitely be posted :)

Peace and trade safely everyone...

My EUR/USD Trade (14-12-2007)

*Attached charts (Before and After). Click on it for the enlarged version.

Harlow everyone. My trade today on the EUR/USD.

Today, I saw a bear flag in the EUR/USD. When it broke below the morning's low and the bear flag, I initiated a short position at the price line of 1.4604 at 4:48pm (Singapore Time). My stop loss was at 1.4625(21pips) and my target profit was at 1.4535(69pips). My target profit at 1.4535 is because of that it is 1995's high and it might be a good support. Risk:Reward ratio = 21:69, roughly 1:3.

Although under 4hrs chart, it show that there will be room for more profit but I am not taking any chances due to the fact that it is already mid-December and institutions and professional traders are preparing to close their books.

Anyway, I went out, Came back home at 11:00pm (Singapore Time), my profit target has been triggered at 7:16pm (Singapore Time). 69pips profit for today, just nice to close my books for the year :)

Peace and trade safely everyone...

My EUR/USD Trade (11-12-2007)

*Attached chart. Click on it for the enlarged version.

Hello everybody. My trade today on the EUR/USD.

The 3:00pm (Singapore Time) candle, ended with a huge rejection. I do not need to explain any further. Upon finishing its form at the end of 3:00pm (Singapore Time), I initiated a short position at 3:59pm (Singapore Time) at the price line of 1.4721.

My stop loss is at 1.4735(14pips) and target profit is at 1.4695(26pips) which is just above my 200ma in hourly chart.

My target profit got hit at 6:24pm (Singapore Time). 26pips profit for today :)

Peace and trade safely everyone...

My EUR/USD Trade (10-12-2007)

*Attached charts (Before and After). Click on it for the enlarged version.

Hello everyone :)

Today, my trade on the EUR/USD. I find this trade a simple trade to spot. The market was practically dead this morning but around afternoon time, I saw the market breaking out on the upside.

I initiated a long position at the price line of 1.4652 at 2:57pm (Singapore Time). My stop loss is at 1.4630 (22pips) just below the low of morning dead market and target profit at 1.4720 (68pips) just below my resistance which is at 1.4732. I went out for dinner and I came home around 12:00am (Singapore Time) and I saw that my target profit has already been hit :) Nice nice nice. 68pips profit for today.

Peace and trade safely everyone...

Global Events Calendar [10-12-2007] - [14-12-2007]

*Time is based on Singapore Time (GMT+8:00)

A few things to take note of.

1) Wednesday [3:15am] - USD's Interest Rate Statement. They are
looking at an interest rate cut by 0.25%.

2) Thursday [4:30pm] - CHF's Interest Rate Statement. They are
looking at to hold their current interest rate at 2.75%.

3) Friday [7:50am] - JPY's Tanken Report.

Other than that. Peace and trade safely everyone...

----------------------------------------------------------------------
Global Events Calendar [10-12-2007] - [14-12-2007]
----------------------------------------------------------------------

Monday [10-12-2007]
7:50am---JPY Core Machinery Orders m/m
7:50am---JPY M2+CD Money Supply y/y
1:00pm---JPY Eco Watchers Survey
3:00pm---EUR German Trade Balance
3:00pm---EUR German Current Account
3:45pm---EUR French Industrial Production m/m
5:00pm---EUR Italian Industrial Production m/m
5:30pm---GBP PPI Input m/m
5:30pm---GBP PPI Output m/m
5:30pm---EUR Sentix Investor Confidence
11:00pm--USD Pending Home Sales m/m
11:30pm--GBP Leading Index m/m

Tuesday [11-12-2007]
1:00pm---JPY Household Confidence
3:00pm---EUR German WPI m/m
5:30pm---GBP Trade Balance
6:00pm---EUR German ZEW Economic Sentiment
6:00pm---EUR ZEW Economic Sentiment
11:00pm--USD Wholesale Inventories m/m

Wednesday [12-12-2007]
3:15am---USD Interest Rate Statement
3:15am---USD Discount Rate
7:50am---JPY CGPI y/y
7:50am---JPY Current Account
5:30pm---GBP Average Earnings Index +Bonus q/y
5:30pm---GBP Claimant Count Change
5:30pm---GBP Unemployment Rate
6:00pm---EUR Industrial Production m/m
6:00pm---CHF ZEW Expectations
9:30pm---USD Trade Balance
9:30pm---USD Import Price Index m/m
11:30pm--USD Crude Oil Inventories

Thursday [13-12-2007]
8:01am---GBP RICS House Price Balance
12:30pm--JPY Industrial Production m/m (r)
3:45pm---EUR French Nonfarm Employment q/q (r)
3:45pm---EUR French CPI m/m
4:30pm---CHF Interest Rate Statement
5:00pm---EUR ECB Monthly Bulletin
6:00pm---EUR Labor Cost Index y/y
7:00pm---GBP CBI Industrial Trends Orders
9:30pm---USD Retail Sales m/m
9:30pm---USD Core Retail Sales m/m
9:30pm---USD PPI m/m
9:30pm---USD Core PPI m/m
9:30pm---USD Unemployment Claims
11:00pm--USD Business Inventories m/m

Friday [14-12-2007]
7:50am---JPY Tankan Large Manufacturers Index
7:50am---JPY Tankan Large Non-Manufacturers Index
3:00pm---EUR German CPI m/m (r)
5:00pm---EUR Italian Trade Balance
6:00pm---EUR CPI m/m (r)
9:30pm---USD CPI m/m
9:30pm---USD Core CPI m/m
10:15pm--USD Industrial Production m/m
10:15pm--USD Capacity Utilization Rate

----------------------------------------------------------------------

My GBP/USD Trade (05-12-2007)

*Attached charts. Click on it for the enlarged version.

Hello everyone. Today, I did two trades, one on the USD/JPY and the other is on the GBP/USD which is this one being posted :)

Today, after the big downward move that I saw on the GBP/USD, I didn't rush in to initiate a short position. I waited to see what will the market do.

When I saw an upclose candle which forms into a "Harami", I waited and I didn't see any buyers commitment in the market, so I initiated a short position on the GBP/USD at the price line of 2.0380 at 6:07pm (Singapore Time). My stop loss was at 2.0440 and my target was at 2.0220. I shifted my stop loss to 1pip away from entry price at around 10:15pm (Singapore Time) when I was 50pips in the money.

By the time it was 11:00pm (Singapore Time), I saw a loss in momentum in the market. I manually close this trade at 11:19pm (Singapore Time) at the price line of 2.0320. 60pips profit for this trade and a total of 72pips for today :)

Peace and trade safely everyone...

My EUR/USD Trade (28-11-2007)

*Attached chart, click on it for the enlarged version.

Hello everyone,

I did a trade today on the EUR/USD. I have my first support at 1.4807.

I initiated a short position on his pair at the price line of 1.4803 at 3:23pm. My stop loss at 1.4825 and target profit at 1.4730 ( I have a support at 1.4724). I shifted my stop loss to 1pip away from entry price when market has moved my way and my target profit was hit at 4:41pm. 73pips profit for this trade :)

Peace and trade safely everyone...

Global Events Calendar [26-11-2007] - [30-11-2007]

*Time is with respect to Singapore Time.

----------------------------------------------------------------------
Global Events Calendar [26-11-2007] - [30-11-2007]
----------------------------------------------------------------------

Monday [26-11-2007]
[No Event]

Tuesday [27-11-2007]
12:00am----------EUR ECB President Trichet Speaks
7:50am-----------JPY CSPI y/y
7:50am-----------JPY BOJ Governor Fukui Speaks
4:15pm-----------CHF PPI m/m
5:00pm-----------EUR German Ifo Business Climate Index
5:00pm-----------EUR German Ifo Business Expectations Index
[Time Unknown]---CHF Consumption Indicator
10:00pm----------USD National Home Price Index
11:00pm----------USD Consumer Confidence
11:00pm----------USD Richmond Fed Index

Wednesday [28-11-2007]
12:15am--GBP MPC Member Blanchflower Speaks
2:30am---USD Chicago Fed President Evans Speaks
2:45am---GBP MPC Member Sentance Speaks
7:50am---JPY Retail Sales y/y
7:50am---JPY Large Retailers' Sales y/y
3:00pm---EUR German Consumer Confidence
5:00pm---EUR M3 Money Supply y/y
5:15pm---CHF SNB Chairman Roth Speaks
6:30pm---CHF Leading Index m/m
9:00pm---USD Fed Governor Kohn Speaks
9:30pm---USD Durable Goods Orders m/m
9:30pm---USD Core Durable Goods Orders m/m
11:00pm--USD Existing Home Sales
11:30pm--USD Crude Oil Inventories

Thursday [29-11-2007]
3:00am---USD Beige Book
7:50am---JPY Industrial Production m/m (p)
3:00pm---GBP Nationwide House Prices m/m
4:55pm---EUR German Unemployment Rate
5:30pm---GBP Mortgage Approvals
5:30pm---GBP Net Lending to Individuals m/m
5:45pm---GBP MPC Treasury Committee Hearings
7:00pm---GBP CBI Distributive Trades Realized
9:30pm---USD GDP Annualized q/q (r)
9:30pm---USD GDP Deflator Annualized q/q (r)
9:30pm---USD Unemployment Claims
11:00pm--USD New Home Sales

Friday [30-11-2007]
5:30am---USD Fed Governor Mishkin Speaks
7:15am---JPY Manufacturing PMI
7:30am---JPY Core CPI y/y
7:30am---JPY Core Tokyo CPI y/y
8:00am---USD Fed Chairman Bernanke Speaks
1:00pm---JPY Housing Starts y/y
2:45pm---CHF GDP q/q
2:45pm---CHF CPI m/m
3:00pm---EUR German Retail Sales m/m
6:00pm---EUR CPI y/y (p)
6:00pm---EUR GDP q/q (r)
6:00pm---EUR Consumer Confidence
6:30pm---GBP Consumer Confidence
9:30pm---USD Core PCE Price Index m/m
9:30pm---USD Personal Spending m/m
9:30pm---USD Personal Income m/m
10:45pm--USD Chicago PMI
11:00pm--USD Construction Spending m/m

[After Friday's Midnight]
1:30am---USD St. Louis Fed President Poole Speaks
2:40am---USD Fed Governor Kroszner Speaks

----------------------------------------------------------------------

My USD/JPY Trade (23-11-2007) - (Update)

Hello people. This trade has just got stopped out at 5:23pm (Singapore Time) with 1pip profit :P Hahaha!!! 1pip profit for today ;P

Peace and trade safely everyone :)

My USD/JPY Trade (23-11-2007)

*Attached chart. Click on it for the enlarged version.

Today is Japan's holiday but I see some potential movements.

I initiated a short position today on the USD/JPY at 9:37am (Singapore Time) at the price line of 108.32.

As of now, my Stop Loss has already been shifted to entry price. Actually 1pip away from my entry because if I were to be stopped out, it is still a winning trade :P Hahaha. My Target Profit is at 106.80.

Taking into consideration that today is Japan's holiday and that the true range movements might not be as good. It depends on how it moves later. I might close it manually. It will be updated, no worries :)

Peace and trade safely everyone...

Yen Outlook (21st November 2007)

USD/JPY and JPY crosses looked bid at the Asian open with EUR/JPY and other crosses actually trading much higher on the back of the fresh record high of 1.4853 record high in EUR/USD and moves higher in other currencies against USD. The positive finish on Wall Street helped. This feel-good tone which some expected to hold into the US Thanksgiving holiday tomorrow and Japan's holiday Friday did not last.

Fresh jitters over subprime lending, exacerbated by recommendations from Goldman Sachs to sell Societe Generale and Credit Suisse stock and comments from ex-Fed Greenspan that moves to clean up the subprime mess are now dead-locked saw the Nikkei and other regional stock market indices tank. This spurred on JPY buys despite comments from Japan METI's Amari that Y110 against USD was appropriate and that any move towards Y100 over the course of year would not.

USD/JPY traded down from 109.99 to as low as 108.89. Bids from Japanese importers on 109 were absorbed in the process. EUR/JPY plunged from 163.16 to 161.66, GBP/JPY from 227.40 to 225.40, AUD/JPY from 98.38 to 96.48 and NZD/JPY from 84.27 to 82.73.

NEWS: Nikkei Closes Off Worst Levels, Down 373.86 Pt Or 2.46%

November 21. The Nikkei closed at 14,837.66 or down 2.46% on the day. It was down close to 3% at one point to 14,770.22. The early high was 15,154.31 just after the open. TOPIX closed out the session at 1438.72, down 30.55 points or 2.08% on the day. Sell recommendations for Societe Generale and Credit Suisse shares from Goldman Sachs helped increase the negative tone in early afternoon trading. This was followed by comments from ex-Fed Greenspan that moves to fix the subprime mess had halted. Other bourses in the region also saw major losses.

NEWS: Ex-Fed Greenspan - Moves To Correct Subprime Mess Halted

November 21. Over Bloomberg. These comments are seen to have helped the Nikkei and regional stock market indices trade lower this afternoon in addition to more financial institution sell recommendations from Goldman Sachs. At writing, the Nikkei is down 416.28 points or 2.74% on the day at 14,795.24. USD/JPY has traded down to as low as 108.93. EUR/JPY traded back below 162.00 to as low as 161.75.

Sterling Outlook (21st November 2007)

Cable opened in Asia at 2.0660 and has traded in a 2.0637/78 range. EUR/GBP opened at .7173 and has seen a .7171/835 range. A renewed spate of rumours, firstly regarding a possible emergency Fed meeting and secondly regarding Middle East nations and their peg policy have added to volatility but there seems to be little fire to either of these smoke alarms.

Sentiment remains uniformly bearish in Asia towards sterling especially on the crosses and traders talk of an up the stairs down the elevator for the GBP though many will reassess should cable break above intermediate resistance around 2.0845.

Key event risk later today will be the release of minutes from the November BoE MPC meeting which will reveal tendencies leaning towards further rate cuts.

Order books seem to have more stop losses than is usually the case with trader stops above 2.0700 likely to come into play at some stage during the day. Significant optionality between .7200/50 is also likely to act like a magnet to the EUR/GBP market.

Euro Outlook (21st November 2007)

The EUR/USD opened around 1.4820 in Sydney, surged to a high of 1.4852 in late NY trading, as trader and model fund stops were tripped above 1.4825 and subsequently consolidated below in Asia, slipping to 1.4814 on EUR/JPY selling.

This selling was initially inspired by Japanese profit taking in the cross, compounded by the weak performance of the Asian equity markets, despite the late recovery on Wall Street; the Nikkei is down 1.29%. The cross fell from 163.38 to test 162.46, as the Asian equity markets focused on the lower 08 U.S. growth forecasts in the FOMC report, the drop in U.S. building permits and continued sub prime fears. Initial support comes in at 1.4770/80, the hourly range low in NY and resistance at this morning's 1.4850/55 high.

The strong up trend in the EUR/USD remains on track for a test of 1.5000 in coming sessions, as EU officials accept the inflationary benefits of the strong currency over the negative impact on competitiveness. Dealers also report order books stacked with small topside stops, as investors try to pick the top of this trend, while bids remain below 1.4600, thus a 1.5000 test looks viable.

USD/JPY, EUR/JPY: Reacting More To Nikkei Weakness

USD/JPY and EUR/JPY looked to be rather complacent to fresh stock market weakness this afternoon. This may no longer be the case with both pairs heading lower. USD/JPY is down at fresh lows of the session at 109.45/50 and EUR/JPY has traded down to as low as the 162.25/30 level. The Nikkei is currently down 308.36 points or 2.03% at 14,903.16.

USD/JPY does continue to see Japanese importer buying interest with bids seen trailing down to 109.00 and especially heavy between 109.05-15. Option players are also likely buyers ahead of barriers at 109.00. Stops below this level are seen to be large however and could provide a target for specs when European trading gets under way. EUR/JPY sees next support around 162.00 and then at 161.81, where the gradually ascending 200-day moving average comes in.

Nikkei Back Down Towards 15,015.35 Early Low

[21st November] - The Nikkei is falling again, indicated currently at 15.024.30, down 187.22 points or 1.23% on the day, and very near the 15,015.35 early low. JPY crosses nor USD/JPY have not been affected all that much yet. A break below 15K however could, and many players still in the market look to be on tenterhooks. Tokyo should see continuing interest in USD/JPY on moves lower.

Update - Forexnewspaper.blogspot.com's Weekly Video Analysis.

Greetings loyal readers of Forexnewspaper.blogspot.com,

As you all know that as mentioned before, Forexnewspaper.blogspot.com is looking to add on a weekly video analysis on the Forex market as one of its posting. It is looking to have Franky to host the video and analysis but unfortunately, Franky is hard to grab hold of.

Instead, we have found another character that is willing to host the video analysis and his name is Osamex. Attached picture to this post is a picture of Osamex.

How will the video be done? It is still under planning.

Forexnewspaper.blogspot.com has decided to use the service from YouTube to host its videos. Stay tune for more updates. Forexnewspaper.blogspot.com is looking to launch or start posting its weekly video analysis in December 2007 or latest by next year, January 2008.

Warmest Regards,
Forexnewspaper.blogspot.com

Global Events Calendar [19-11-2007] - [23-11-2007]

*Time is with respect to Singapore Time (GMT+8:00).

----------------------------------------------------------------------
Global Events Calendar [19-11-2007] - [23-11-2007]
----------------------------------------------------------------------

Monday [19-11-2007]
8:01am---GBP Rightmove House Price Index m/m
7:00pm---USD Treasury Secretary Paulson Speaks
11:30pm--USD Treasury Secretary Paulson Speaks

Tuesday [20-11-2007]
2:00am---USD NAHB Housing Market Index
3:00pm---EUR German PPI m/m
3:15pm---CHF Trade Balance
5:30pm---GBP Public Sector Net Borrowing
5:30pm---GBP M4 Money Supply m/m
5:30pm---GBP BSA Mortgage Approvals
7:00pm---GBP CBI Industrial Trends Orders
9:30pm---USD Housing Starts
9:30pm---USD Building Permits

Wednesday [21-11-2007]
3:00am---USD FOMC Meeting Minutes
7:50am---JPY Trade Balance
7:50am---JPY All Industries Activity Index m/m
5:00pm---EUR Italian Retail Sales m/m
5:30pm---GBP MPC Meeting Minutes
9:30pm---USD Unemployment Claims
11:00pm--USD Consumer Sentiment (r)
11:00pm--USD Leading Index m/m
11:30pm--USD Crude Oil Inventories

Thursday [22-11-2007]
[Whole Day Event]---USD Holiday: Thanksgiving Day
3:00pm--------------EUR German GDP q/q (r)
4:15pm--------------CHF Employment Level
5:00pm--------------EUR Current Account
5:30pm--------------GBP Business Investment q/q (p)
6:00pm--------------EUR Industrial New Orders m/m

Friday [23-11-2007]
[Whole Day Event]---JPY Holiday: Labor Thanksgiving Day
3:45pm--------------EUR French Consumer Spending m/m
4:30pm--------------EUR ECB President Trichet Speaks
5:00pm--------------EUR Manufacturing PMI (p)
5:00pm--------------EUR Services PMI (p)
5:30pm--------------GBP GDP q/q (r)
5:30pm--------------GBP Index of Services 3m/3m
5:30pm--------------GBP BBA Mortgage Approvals

----------------------------------------------------------------------

My EUR/JPY Trade (15-11-2007)

*Attached chart. Click on it for the enlarged version.

Hello everyone.

Last night, EUR/JPY was looking good. Towards the end of 11:00pm (Singapore Time) candle, I saw that this pair is losing momentum to the up side and a formation called "Reverse Hanging Man".

With a channel drawn and using my "Similar Wave" pattern, I did a quick analysis on where I should take my profit. At 12:00am (Singapore Time), I initiated a short position at the price line of 162.20. My stop loss was at the price line of 162.60 (40pips) and my target profit at the price line of 160.30 (190pips).

Today, I woke up, it was looking good and I shift my stop loss to entry price but after it broke my support at 161.00 at around towards the end of 10:00am (Singapore Time), market was hovering around that price. I wasn't comfortable with the price action and I manually close this trade at the price line of 160.96. That is 124pips profit for this trade.

If this pair still have the strength on the downside, I will still look forward for selling opportunity today.

Peace and trade safely everyone.

My EUR/USD Trade (15-11-2007)

*Attached charts. Click on it for the enlarged version.

Hello people.

My trade with the EUR/USD today. At the end of 3:00pm (Singapore Time), I saw a very nice set-up on the EUR/USD. I drew a channel and used my technique that I called "Similar Wave" to forsee the possible target profit.

As you can see in the charts on how I use my "Similar Wave" pattern. Loyal readers to my blog will understand it :)

With all the analysis done, I initiated a short position at the price line of 1.4680 at 4:00pm (Singapore Time). My stop loss was at 1.4695 (15pips) and target profit was at 1.4620 (60pips). A reason on why I had that price line for my target profit is through my "Similar Wave" pattern and also because I have a support level at the price line of 1.4613 which is also near to my 200ma in my Hourly chart.

My target profit was executed at 6:45pm (Singapore Time). 60pips profit for today :)

Peace and trade safely everyone...

My EUR/JPY Trade (12-11-2007)

*Attached chart. Click on it for the enlarged version.

Hello everyone.

Today, as usual. I was looking at GBP/JPY and EUR/JPY, other than the Majors.

Today with the EUR/JPY, I have my first set of resistance and support. Resistance at 163.83 and support at 160.03. Around afternoon time, EUR/JPY bounced at the price line of 161.00 but the candle pattern's strength on the upside wasn't there. I initiated a short position at the price line of 161.40 at 4:39pm (Singapore Time). Stop loss at 161.80 (40pips) and target profit at 160.10 (130pips), which is near to my support. I am a conservative trader :P Hehehe... This trade with a Risk:Reward of 40:130, around 1:3.

I went out for dinner with my fellow comrads at around 6:30pm (Singapore Time). Wasn't looking at the charts, when I got back to my laptop at around 9+pm (Singapore Time), my target profit was hit at 7:06pm (Singapore Time). Not bad virgin trade for this week of 130pips while having a good time outside :)

Peace and trade safely everyone...

My GBP/JPY Trade (09-11-2007)

*Attached charts. Click on it for the enlarged version.

Hello people :) How is everyone doing? These past few weeks has been very tiring for me because I think I have made too many trades which means, too many pips profit in my pocket! Hahahaha!!!

Anyway, a trade I am going to share is one of my GBP/JPY trade. I am attaching 2 charts. One is my GBP/JPY (Weekly) chart and the other is GBP/JPY (Hourly) chart.

Analysation on my GBP/JPY (Weekly) chart is simple. I already have the channel drawn and again I use my "Similar Wave" technique to analyse. As you can see, first wave "A" followed by wave "B", then I use the same parameters from wave "A" to forsee wave "C". So I am expecting to seel rather than buying.

On my GBP/JPY (Hourly) chart, I have two critical resistance level. First one is at the price line of 237.70 and the other is at 238.27. By the end of 4:00pm (Singapore Time), market was not able to break my resistance level at 237.70.

I initiated a short position at 5:08pm (Singapore Time) the price line of 237.10 with stop loss at 237.70 and target profit at the price line of 235.50, near to my support at 235.20 (close to Wednesday's low). My target profit was executed at 6:22pm (Singapore Time). That is 160pips profit for this trade :) Hehehe. But GBP/JPY dropped all the way to 232.80. CRAZY!!! Well, money made, no complains :)

Peace and trade safely everyone...

My GBP/JPY Trade (05-11-2007)

*Attached chart. Click on it for the enlarged version.

Yesterday, I did a few trades but most of them, the first few trades I closed it manually with profits ranging from 1-5pips each, close to my entry price. Stupid trading day.

The last trade that I made, which is this one, on the GBP/JPY. I initiated a long position at 10:49pm (Singapore Time), yesterday (05-11-2007) at the price line of 237.55. Why did I initiated a long position? I got home at around 9:30pm (Singapore Time) last night. I saw that this pair has a loss of momentum on the downside with nice done rejection tails. So with the 10:00pm (Singapore Time) candle finishing with rejection tail, I placed a pending order to long at 237.55 which is of course, again it is filled within seconds. Wonderful GBP/JPY :)

As I waited to see how this 11:00pm (Singapore Time) candle ends, I was getting sleepy and tired. I want to see if it can break above my resistance level at 238.25 because if it can, I will shift my stop loss to entry price and keep it overnight. My eyes was getting heavy and with all the profits I made last month, I couldn't be bothered to wait.

I manually closed this trade at 11:38pm (Singapore Time) at the price line of 238.11. 56pips profit for this trade. Not really good since this is GBP/JPY we are talking about :(

My GBP/JPY Trade (01-11-2007)

*Attached charts. Click on it for the enlarged version.

Majors are still still giving me the creeps.

Today, 01-11-2007, I went in with the GBP/JPY again.

In the day, I went in a long position at the price line of 239.60, 1:02pm (Singapore Time) with a target profit at 241.40. By 6:30pm (Singapore Time), I was like in the money but considering heavy data coming out on the USD's Jobless Claim and ISM, I shift my stop loss to 5pips above entry. I did that because I will not be around to monitor the market while the data comes out because I am going out for dinner at Ichiban with my gf. Anyway, Ichican serves good Japanese food.

I came home around 10:30pm (Singapore Time) and I was stopped out with 5pips gain. Dammit! The high was like 6pips away from my target profit! Arggghhh!!! Anyway, it is ok, 5pips gain is still a winning trade! Hahaha!!! So this week, amounts to 585pips profit :P Hehehe...

Anyway, 10pm candle finished with a strong rejection below and I placed a pending order to long this pair at the price line of 238.95. I was filled within seconds again at 11:01pm. the 11pm candle was giving me a little bit of a creep but it ends with rejection again below.

12:00am (Singapore Time) candle, is looking good and it has gave me enough room to shift my stop loss to 5pips above entry again :) I have since shifted my stop loss at 239.00 with target profit at 241.40, near to my resistance level in my Daily chart.

Let's see how it goes.

Peace and trade safely everyone...

My GBP/JPY Trade (31-10-2007) - Update

*Attached chart. Click on it for the enlarged version.

Hello people. Watching the movements upon the USD's interest rate release is really testing the balls of steel technique.

My GBP/JPY was moving like so the fuc*@#g fast and FXCM was having miss quotes! Hahaha!!! Can never see this on the majors! Hahaha! My P/L was like having some figures, then zero, then some figures, then zero! Hahaha!!! I was really holding my balls man and my TP has just got hit at the price line of 239.60 at 2:40am (Singapore Time).

180pips for today which totals to 580pips for this week! Hahahaha!!! Wooooohoooooo!!!!

Peace and trade safely everyone...

My GBP/JPY Trade (31-10-2007)

*Attached chart. Click on it for the enlarge version.

Hi guys. How is everyone doing? Couple of hours left till the USD's Interest Rate Announcement :P Hehehe! It is 12:40am (Singapore Time) now and I am damn sleepy but I can't sleep :P Hahaha!!!

Anyway, today. I didn't trade the Majors because of the confusion of market due to the extreme weakening of the USD, I was looking at crosses today and it is my favourite tiger, the GBP/JPY.

Did three trades on this bugger. The first one was at 12:40pm (Singapore Time), I went in to short it at the price line of 237.40. But at the end of the 1:00pm candle, a strong rejection was formed so I manually closed it at 237.36 and that is 4pips gain.

During the 2:00pm (Singapore Time) candle, another strong rejection and I went in a long position at the price line of 237.45. The blooper on this trade was that, my target profit is at 239.60 which is my resistance level in my Daily chart but because I was in a hurry (to go toilet), I did a typo and my target profit was at 237.60 instead.

So I rush to the toilet and meet Louey and had a good pee pee and when I came back, I found out that I had no open position, I checked my account and the trade was closed at 237.60 (my typo target profit error) with 15pips gain! ARGGGGGHHH! Dammit! One of the times that I was actually mad with my little Johnny. Hahaha!

So I waited for awhile and the price broke through my resistance at 237.70 (which was my target profit based on my previous analysis), then I placed a pending order to buy at the price line of 237.80. I was filled in like seconds at 3:55pm (Singapore Time) :P Hahahaha!!!

Now, the trade is still open and my target profit at 239.60 and stop loss has already been shifted to my entry price. Let's see how it goes. Price now is like inches away from my target profit.

Peace and trade safely everyone...

Global Events Calendar [29-10-2007] - [02-11-2007]

*Time is with respect to Singapore Time (GMT+8:00)

----------------------------------------------------------------------
Global Events Calendar [29-10-2007] - [02-11-2007]
----------------------------------------------------------------------

Monday [29-10-2007]
7:50am-----------JPY Retail Sales y/y
7:50am-----------JPY Large Retailers' Sales y/y
5:30pm-----------GBP Mortgage Approvals
5:30pm-----------GBP Net Lending to Individuals m/m
[Time Unknown]---EUR German CPI m/m (p)

Tuesday [30-10-2007]
1:15am---USD Alan Greenspan Speaks
7:30am---JPY Overall Household Spending y/y
7:30am---JPY Unemployment Rate
4:55pm---EUR German Unemployment Rate
5:00pm---CHF Consumption Indicator
9:00pm---USD National Home Price Index
10:00pm--USD Consumer Confidence

Wednesday [31-10-2007]
7:30am-----------JPY Manufacturing PMI
9:30am-----------JPY Average Cash Earnings y/y
[Time Unknown]---JPY Interest Rate Announcement
1:00pm-----------JPY Housing Starts y/y
2:00pm-----------EUR German Retail Sales m/m
[Time Unknown]---JPY BOJ Governor Fukui Speaks
3:00pm-----------GBP Nationwide House Prices m/m
5:00pm-----------EUR Consumer Confidence
6:00pm-----------EUR CPI y/y (p)
6:00pm-----------EUR Unemployment Rate
6:00pm-----------EUR Italian CPI m/m
6:30pm-----------GBP Consumer Confidence
6:30pm-----------CHF Leading Index m/m
8:15pm-----------USD ADP Nonfarm Employment Change
8:30pm-----------USD GDP Annualized q/q (p)
8:30pm-----------USD GDP Deflator Annualized q/q (p)
8:30pm-----------USD ECI q/q
9:45pm-----------USD Chicago PMI
10:00pm----------USD Construction Spending m/m
10:30pm----------USD Crude Oil Inventories

Thursday [01-11-2007]
2:15am---USD Interest Rate Statement
4:30pm---CHF SVME PMI
5:40pm---GBP Manufacturing PMI
7:00pm---GBP CBI Distributive Trades Realized
8:30pm---USD Core PCE Price Index m/m
8:30pm---USD Personal Spending m/m
8:30pm---USD Personal Income m/m
8:30pm---USD Unemployment Claims
10:00pm--USD ISM Manufacturing Index
10:00pm--USD ISM Manufacturing Prices

Friday [02-11-2007]
[Time Unknown]---USD Domestic Vehicle Sales
7:50am-----------JPY Monetary Base y/y
2:45pm-----------CHF CPI m/m
4:55pm-----------EUR German Manufacturing PMI
5:00pm-----------EUR Manufacturing PMI (r)
5:30pm-----------GBP Construction PMI
8:30pm-----------USD Nonfarm Employment Change
8:30pm-----------USD Unemployment Rate
8:30pm-----------USD Average Hourly Earnings m/m
10:00pm----------USD Factory Orders m/m

----------------------------------------------------------------------

My GBP/JPY Trade (25-10-2007) - Update 3

Hello guys. This is the final update on my GBP/JPY trade. I have just manually closed the trade with 50pips profit at the price line of 234.04 and nice interest gain.

GBP seems to weaken further against the EUR and it cannot break above my 200ma in the hourly chart and it is able to break below my support at around 234.10-234.07. Should have initiated the trade with EUR/JPY instead and it really went my way with the same style of analysis. Hehehehe...

Anyways, I will still try to tame this active tiger, the GBP/JPY and hopefully I will be able to share it with your guys in time to come :) Next week, I am expecting to see weird movements on the majors. Let's see how it goes :)

Peace and trade safely everyone...

Trade wth extra care for the moment...

Hello everyone :)

At this point, please trade with extra care, especially on the EUR/USD. Market is testing last week's high and next week, [Thursday, 01-11-2007], at 2:15am (Singapore Time), is the USD's Interest Rate Statement. It is not clear whether the FED's will go for a rate cut and people are fighting on it.

If this week's candle end as a hanging man, it is possible that last week's high is toppish but if it is able to break it, 1.4535 is the next top side to look out for.

On top of that, next week is also the frst Friday of the month, the release of the Non-Farm Payroll data and a couple more of other data releases. This week is possible that market is doing some built in to anticipate USD's Interest Rate Statement which is next week.

JPY's Interest Rate Statement is also next week, [Wednesday, (31-10-2007)], most likely that their rate will go unchange at 0.50%.

Peace and trade safely everyone...

My GBP/JPY Trade (25-10-2007) - Update 2

*Attached chart. Click on it for the enlarged version.

Hello hello again :) Today, [26-10-2007], let's see how is my trade on the GBP/JPY is doing.

After the previous two post on this GBP/JPY trade of mine, [My GBP/JPY Trade (25-10-2007] and [My GBP/JPY Trade [25-10-2007] - Update 1], I am expecting this pair to have an upclose in the daily chart.

Anyway, back to the hourly chart. I have drawn some more lines which is coloured in dark blue. The final uptrend line is still the same as the original Line 5 in orange. Yesterday, it managed to break above my first resistance level at around 234.10. Now, it has to break another resistance level around 234.90-235.00 or the 200ma.

If market is unable to break above this resistance level by today, there is two possibilty that I will do. 1) I will manually close my trade or 2) Adjust my Stop Loss to my entry price.

If market is able to break above, I will shift my Stop Loss to entry price.

Currently, this trade is 90pips in the money.

Do not follow this trade or take it as a trading idea. It is merely for educational and public viewing purposes.

Peace and trade safely everyone...

My GBP/JPY Trade (25-10-2007) - Update 1

*Attached chart. Click on it for the enlarged version.

Hello people. From my previous post on the my GBP/JPY Trade (25-10-2007). The forecast Line 5 that I drew, today, market had a little set-back with strong resistance at around the price line of 234.10.

According to the chart that I've attached to this post, the original Line 5 in orange is still there but I have extended it with another forecast lines in light blue and the final forecast line in blue having the same parameters with the original forecast Line 5.

I am still keeping this trade open. To recap a little bit on this trade, I initiated this trade at the price line of 233.54, Stop Loss at 232.50 and Target Profit at 237.70.

This trade that I am doing, no doubt I am using my live account but it is only for testing purposes on a method I have just thought of. Do not follow it or take it as a trading idea. It is merely for educational and public viewing purposes.

I will still update on the outcome of this trade. Be it if I get stopped out, my traget profit was hit or I close it manually :) Let's find it out together :) Currently, this trade is 40pips in the money.

Peace and trade safely everyone...

My GBP/JPY Trade (25-10-2007)

*Attached chart. Click on it for the enlarged version.

Hello everyone! How is everyone doing? This week has been one interesting week :P Hehehe!!! Anyway, this is one of my many many trades this week. Yesterday, I was happily whacking the EUR/JPY, squeezing as many pips out of the market :P Hahaha!

This particular trade of mine is very very rare. One of few times that I will actually touch the GBP/JPY. I have just initiated a long position on the GBP/JPY at 12:00am (Singapore Time), the stroke of mid-night and hence a new date [25-10-2007], at the price line of 233.54.

Why did I initiate a long position? This is a good question. Attached chart to this post. According to my chart, I am actually testing something. Something that I called a similar wave pattern.

From the channel that I have drawn, first line up which I call Line 1, followed by Line 2 which is coming down after hitting the resistance of the channel, little Line 3 going up, followed by Line 4 going down touching the support of the channel. Not only Line 4 touch the support of the channel, the last candle formed into a doji with a reasonable rejection tail. So Line 5 which I assume will be similar to Line 1, I drew it to expect the possible target profit.

Hence, initiated long position at the price line of 233.54 with Target Profit at 237.70 and Stop Loss at 232.50.

This is a method that I am testing out which I want to share with you guys but please do not follow or take it as a trade idea, this is merely for education and entertainment viewing purposes. It might work and it might not work but let's find out together :) I will definitely update on the outcome of it.

Peace and trade safely everyone...

EUR/USD (Follow through after drop) 22-10-2007

*Attached chart. Click on it for the enlarged version.

Hello people. EUR/USD has finally did what I was expecting it to do like two weeks ago. Hahahaha!!! A lot of people are expecting EUR/USD to strengthen further after the G7, but hey, USD strengthens for EUR/USD retracement :P Hehehe! See? Technicals wins against the Fundamentals again :P Hahaha...

Anyway, EUR/USD had a follow through on the downside after it broke below the 1.4300 level, which I had highlighted like a few hours ago. Let's see how it will go from here.

Peaces and trade safely everyone...

EUR/USD (Drop back below 1.4300) 22-10-2007

*Attached chart. Click on it for the enlarged version.

Hello people. Now it is 6:00pm (Singapore Time). EUR/USD has dropped back below the 1.4300 level. Is it having its retracement now? This week, do watch out on the Majors. It will be a crucial and interesting week to see :)

EUR/USD - Watch out for support at 1.4240...

Peace and trade safely everyone...

Global Events Calendar [22-10-2007] - [26-10-2007]

*Time is with respect to Singapore Time (GMT+8:00).

----------------------------------------------------------------------
Global Events Calendar [22-10-2007] - [26-10-2007]
----------------------------------------------------------------------

Monday [22-10-2007]
8:15pm---USD Fed Governor Kroszner Speaks

Tuesday [23-10-2007]
7:00am---USD Chicago Fed President Evans Speaks
8:45am---EUR ECB President Trichet Speaks
2:45pm---EUR French Consumer Spending m/m
4:00pm---EUR Italian Retail Sales m/m
5:00pm---EUR Industrial New Orders m/m
6:00pm---GBP CBI Industrial Trends Orders
8:30pm---USD Treasury Secretary Paulson Speaks
10:00pm--USD Richmond Fed Index

Wednesday [24-10-2007]
7:50am---JPY Trade Balance
4:00pm---EUR Manufacturing PMI (p)
4:00pm---EUR Services PMI (p)
4:00pm---EUR Current Account
10:00pm--USD Existing Home Sales
10:30pm--USD Crude Oil Inventories

Thursday [25-10-2007]
12:00am--EUR ECB President Trichet Speaks
7:50am---JPY CSPI y/y
2:00pm---EUR German Import Price Index m/m
4:00pm---EUR German Ifo Business Climate Index
4:00pm---EUR German Ifo Business Expectations Index
4:30pm---GBP BBA Mortgage Approvals
8:30pm---USD Durable Goods Orders m/m
8:30pm---USD Core Durable Goods Orders m/m
8:30pm---USD Unemployment Claims
9:00pm---USD Fed Consumer Advisory Council Meets
10:00pm--USD New Home Sales

Friday [26-10-2007]
7:30am---JPY Core CPI y/y
7:30am---JPY Core Tokyo CPI y/y
7:50am---JPY Industrial Production m/m (p)
2:00pm---EUR German Consumer Confidence
3:15pm---CHF PPI m/m
4:00pm---EUR M3 Money Supply y/y
10:00pm--USD Consumer Sentiment (r)

[After Friday's Mid-night]
4:15am---USD Fed Governor Mishkin Speaks

----------------------------------------------------------------------

EUR/USD (Testing yesterday's High)

*Attached chart. Click on it for the enlarged version.

Hello people. EUR/USD is getting a little interesting. After the bear flag that has been spotted, now market is testing yesterday's high, which is at 1.4225. If market is unable to break above this price, I am still in the seller's side for this pair.

If market is able to punch through yesterday's high, the next ceiling that is good to look at will be at the price line of 1.4240, which is the recent Double-Top in the hourly chart for this pair :)

Peace and trade safely everyone...

EUR/USD (Bear Flag Spotted?)

*Attached chart. Click on it for the enlarged version.

Hello everyone. Something in the EUR/USD hourly charts that seems a little interesting. After the Double-Top formation being seen, now it looks like a Bear Flag is spotted. Is EUR/USD really in the top side and make some way for the down side for retracement? Let's find it out together :)

Global Events Calendar [15-10-2007] - [19-10-2007]

*Time is with respect to Singapore Time (GMT+8:00).

------------------------------------------------------------------
Global Events Calendar [15-10-2007] - [19-10-2007]
------------------------------------------------------------------

Monday [15-10-2007]
7:01am---GBP Rightmove House Price Index m/m
8:30am---JPY BOJ Governor Fukui Speaks
12:30pm--JPY Industrial Production m/m (r)
8:30pm---USD Empire State Business Conditions Index

Tuesday [16-10-2007]
7:00am---USD Fed Chairman Bernanke Speaks
2:00pm---EUR German CPI m/m (r)
3:15pm---CHF Retail Sales y/y
4:30pm---GBP CPI y/y
4:30pm---GBP Core CPI y/y
4:30pm---GBP RPI y/y
5:00pm---EUR German ZEW Economic Sentiment
5:00pm---EUR ZEW Economic Sentiment
5:00pm---EUR CPI m/m (r)
9:00pm---USD TIC Net Long-Term Transactions
9:15pm---USD Industrial Production m/m
9:15pm---USD Capacity Utilization Rate
11:00pm--USD Treasury Secretary Paulson Speaks

Wednesday [17-10-2007]
1:00am---USD NAHB Housing Market Index
7:50am---JPY Tertiary Industry Activity Index m/m
1:00pm---JPY Leading Index m/m
4:30pm---GBP MPC Meeting Minutes
4:30pm---GBP Average Earnings Index +Bonus q/y
4:30pm---GBP Claimant Count Change
4:30pm---GBP Unemployment Rate
8:30pm---USD CPI m/m
8:30pm---USD Core CPI m/m
8:30pm---USD Housing Starts
8:30pm---USD Building Permits
10:30pm--USD Crude Oil Inventories

Thursday [18-10-2007]
2:00am---USD Beige Book
8:45am---USD Kansas City Fed President Hoenig Speaks
2:15pm---CHF Trade Balance
4:30pm---GBP Retail Sales m/m
4:30pm---GBP M4 Money Supply m/m
4:30pm---GBP Public Sector Net Borrowing
5:00pm---CHF ZEW Expectations
5:00pm---EUR Trade Balance
8:30pm---USD Unemployment Claims
10:00pm--USD Leading Index m/m

Friday [19-10-2007]
12:00am USD Philadelphia Fed Manufacturing Index
5:00am---EUR ECB President Trichet Speaks
7:50am---JPY All Industries Activity Index m/m
2:00pm---EUR German PPI m/m
4:30pm---GBP GDP q/q (p)
4:30pm---GBP Index of Services 3m/3m
5:00pm---EUR Italian Trade Balance
10:00pm--USD Fed Chairman Bernanke Speaks

[After Friday's Mid-night]
[Time Unknown]---ALL G8 Press Conference

------------------------------------------------------------------

Selamat Hari Raya Aidilfitri!

To all muslim traders and loyal readers of ForexNewspaper.blogspot.com,

ForexNewspaper.blogspot.com will like to wish all muslims around the world and its fellow readers a Selamat Hari Raya Aidilfitri :)

Warmest Regards,
ForexNewspaper.blogspot.com

Future Upgrades on ForexNewspaper.blogspot.com

Greetings fellow traders and loyal readers of ForexNewspaper.blogspot.com,

In time to come, ForexNewspaper.blogspot.com is looking at future upgrades on its blog posts, other than general market outlook, Global Economic Calendar and posting of some of my trades. One of the upgrades that I am looking at is to provide ForexNewspaper.blogspot.com's very own weekly analysis on the Forex market.

The weekly updates that I will be doing is for general educational and sharing purposes. Do not take it as trading tips or ideas. Do bear in mind that there is significant risks in Forex market.

Not only that ForexNewspaper.blogspot.com will do weekly market analysis, it is planning to do it in video form. You heard it right, it will be in video form. I will either use YouTube as a medium or other video hosting websites that are available, like Veoh.com :) Whichever service that I will use, will be decided on the factors that will benefit the both of us, ForexNewspaper.blogspot.com and its fellow readers.

Lastly, to end this post, ForexNewspaper.blogspot.com will introduce a friend of mine, his name is Frankenstein. He will be the one that is in the video, doing weekly market analysis and the analysis will be called, "Franky Forex Outlook". :)

Do stay tune on the progress of the future upgrades that ForexNewspaper.blogspot.com is looking at.

Warmest Regards,
Author of ForexNewspaper.blogspot.com

My EUR/JPY Trade (09-10-2007)

*Click on the chart for the enlarged version.

Hello people. One of my recent trades. This one is on the EUR/JPY.

Yesterday, I went in long on this pair at around 10:50pm :) So what I saw was that, 9:00pm (Singapore Time) candle finished with a down close hammer formation and it can't break below the 200ma in my hourly chart. Initiated the long position at the price line of 164.60. Stop Loss at 164.30 and Target Profit at 165.50. At around 2:00am (Singapore Time) I was already in the money and I shifted my stop loss to my entry price.

This afternoon (10-10-2007), I manually close my trade at the price line of 165.34 at around 12:30pm (Singapore Time). That is a 74pips profit for this trade.

My EUR/USD Trade [01-10-2007]

Hello people,

On the [01-10-2007], I inititated a short position on the EUR/USD at 2:24pm (Singapore Time). This pair looks kind of resting based on the charts and I was expecting a little retracement or technical correction after how it ran on the upside last week.

Nonetheless, I was wanting to see some sellers commitment in the market first before initiating the short position. Initially, after initiating the short position at the price line of 1.4254, my stop loss was at 1.4274 and target profit at 1.4190.

As time goes by, I see more sellers commitment and I decided to change my target profit level to 1.4120. I reached home around 9:00pm (Singapore Time) that day and I was prepared to see the USD's ISM Manufacturing data release at 10:00pm (Singapore Time) to decide on whether to close my trade or not. At around 9:55pm (Singapore Time), I had decided to keep my trade open and shift my stop loss to my entry price but, hehehehe, not actually at my entry price, it is 1pip away, which is at 1.4253 :P Hahaha! I will tell you why. I am a little greedy boy, even if market were to stop me out, this trade is still considered a winning trade with 1pip profit :P Hahahaha!!!

Anyway, at 10:00pm (Singapore Time), I was watching the market and it was a dissappointing wait, not much action happened and it was good news to me, market didn't want to go up. The whole of [02-10-2007], was just looking at it and there is no signs that is showing that buyers commiment are coming back in. So, I was confident enough to keep my trade open till today [03-10-2007].

Woke up at 4:50am (Singapore Time), thanx to my mum. Woke up, ate some food before fasting starts and at 5:15am (Singapore Time), watched my charts, a little air headed and I decide to close my trade manually at 5:20am (Singapore Time), at the price line of 1.4156. That is a 98pips profit for this week as of now :)

Peace and trade safely everyone...

Global Events Calendar [01-10-2007] - [05-10-2007]

*Time is with respect to Singapore Time (GMT+8:00).

----------------------------------------------------------------------
Global Events Calendar [01-10-2007] - [05-10-2007]
----------------------------------------------------------------------

Monday [01-10-2007]
7:50am---JPY Tankan Large Manufacturers Index
7:50am---JPY Tankan Large Non-Manufacturers Index
9:30am---JPY Average Cash Earnings y/y
3:30pm---CHF SVME PMI
3:35pm---EUR ECB President Trichet Speaks
3:55pm---EUR German Manufacturing PMI
4:00pm---EUR Manufacturing PMI
4:30pm---GBP Manufacturing PMI
4:30pm---GBP Mortgage Approvals
4:30pm---GBP Housing Equity Withdrawal q/q
4:30pm---GBP Net Lending to Individuals m/m
10:00pm--USD ISM Manufacturing Index
10:00pm--USD ISM Manufacturing Prices

Tuesday [02-10-2007]
7:50am---JPY Monetary Base y/y
1:45pm---CHF CPI m/m
4:30pm---GBP Construction PMI
5:00pm---EUR PPI m/m
5:00pm---EUR Unemployment Rate
10:00pm--USD Pending Home Sales m/m

Wednesday [03-10-2007]
[Time Unknown]---USD Domestic Vehicle Sales
7:01am-----------GBP Consumer Confidence Index
3:55pm-----------EUR German Services PMI
4:00pm-----------EUR Services PMI (r)
4:30pm-----------GBP Services PMI
5:00pm-----------EUR Retail Sales m/m
5:30pm-----------GBP BRC Shop Price Index y/y
8:15pm-----------USD ADP Nonfarm Employment Change
10:00pm----------USD ISM Non-Manufacturing Index
10:00pm----------USD ISM Non-Manufacturing Prices
10:30pm----------USD Crude Oil Inventories

Thursday [04-10-2007]
7:00pm---GBP Interest Rate Statement
7:45pm---EUR Interest Rate Announcement
8:30pm---USD Unemployment Claims
8:30pm---EUR ECB President Trichet Speaks
10:00pm--USD Factory Orders m/m

Friday [05-10-2007]
1:30am---USD Fed Governor Mishkin Speaks
1:00pm---JPY Leading Index m/m
6:00pm---EUR Composite Leading Indicators m/m
8:30pm---USD Nonfarm Employment Change
8:30pm---USD Unemployment Rate
8:30pm---USD Average Hourly Earnings m/m
9:10pm---USD Fed Governor Kohn Speaks

[After Friday's Mid-night]
3:00am---USD Consumer Credit m/m
7:00am---USD Fed Governor Warsh Speaks

----------------------------------------------------------------------

My GBP/USD Trade (21-09-2007) Update.

Hello people. This is the update of my previous open long position on the GBP/USD.

To recap from the previous post-(http://forexnewspaper.blogspot.com/2007/09/my-gbpusd-trade-21-09-2007.html), I went in for a long position at the price line of 2.0109 on [20-09-2007], 12:45am (Singapore Time) and target profit at the price line of 2.0235. My target profit has just been hit today, [24-09-2007] at 9:10am.

That's a 126pips profit :) Not a bad morning to wake up with a bad crap shooting syndrome, aka diarrhoea.

Peace and trade safely everyone...

Global Events Calendar [24-09-2007] - [28-09-2007]

*Time is with repect to Singapore Time(GMT+8:00).

----------------------------------------------------------------------
Global Events Calendar [24-09-2007] - [28-09-2007]
----------------------------------------------------------------------

Monday [24-09-2007]
[Whole Day Event]---JPY Holiday: Autumnal Equinox Day
7:01am--------------GBP BOE Quarterly Bulletin
4:30pm--------------GBP Public Sector Net Borrowing
5:00pm--------------EUR Industrial New Orders m/m
9:30pm--------------USD Fed Governors Meet

Tuesday [25-09-2007]
12:30am--GBP MPC Member Sentance Speaks
1:00am---USD Fed Chairman Bernanke Speaks
7:50am---JPY Monetary Policy Meeting Minutes
7:50am---JPY CSPI y/y
2:00pm---EUR German Import Price Index m/m
2:45pm---EUR French Consumer Spending m/m
4:00pm---EUR German Ifo Business Climate Index
4:00pm---EUR German Ifo Business Expectations Index
4:00pm---EUR Italian Retail Sales m/m
4:00pm---CHF Consumption Indicator
4:30pm---GBP Business Investment q/q (r)
5:00pm---EUR Italian Trade Balance
9:00pm---USD National Home Price Index
10:00pm--USD Existing Home Sales
10:00pm--USD Consumer Confidence
10:00pm--USD Richmond Fed Index

Wednesday [26-09-2007]
7:50am---JPY Trade Balance
2:00pm---EUR German Consumer Confidence
4:30pm---GBP GDP q/q (r)
4:30pm---GBP Current Account
5:30pm---CHF Leading Index m/m
8:30pm---USD Durable Goods Orders m/m
8:30pm---USD Core Durable Goods Orders m/m
8:30pm---USD St. Louis Fed President Poole Speaks
10:30pm--USD Crude Oil Inventories
11:10pm--EUR ECB President Trichet Speaks

Thursday [27-09-2007]
2:00pm---GBP Nationwide House Prices m/m
3:55pm---EUR German Unemployment Rate
4:00pm---EUR M3 Money Supply y/y
4:30pm---GBP Index of Services 3m/3m
6:00pm---GBP CBI Distributive Trades Realized
8:30pm---USD GDP Annualized q/q (r)
8:30pm---USD GDP Deflator Annualized q/q (r)
8:30pm---USD Unemployment Claims
10:00pm--USD New Home Sales

Friday [28-09-2007]
1:00am---USD Fed Chairman Bernanke Speaks
7:00am---USD Fed Governor Mishkin Speaks
7:30am---JPY Core CPI y/y
7:30am---JPY Tokyo CPI y/y
7:30am---JPY Core Tokyo CPI y/y
7:30am---JPY Overall Household Spending y/y
7:30am---JPY Manufacturing PMI
7:30am---JPY Unemployment Rate
7:50am---JPY Industrial Production m/m (p)
7:50am---JPY Retail Sales y/y
7:50am---JPY Large Retailers' Sales y/y
1:00pm---JPY Housing Starts y/y
2:00pm---EUR German Retail Sales m/m
5:00pm---EUR Italian CPI m/m
5:00pm---EUR CPI y/y (p)
5:00pm---EUR Consumer Confidence
5:30pm---GBP Consumer Confidence
8:30pm---USD Core PCE Price Index m/m
8:30pm---USD Personal Spending m/m
8:30pm---USD Personal Income m/m
9:45pm---USD Chicago PMI
10:00pm--USD Consumer Sentiment (r)
10:00pm--USD Construction Spending m/m

[After Friday's Mid-night]
1:00am---USD St. Louis Fed President Poole Speaks
1:15am---USD Fed Governor Mishkin Speaks

----------------------------------------------------------------------

My GBP/USD Trade (21-09-2007)

*Attached chart, click on it for the enlarged version.

Hi guys. Today, I didn't initiate any trade because I am still holding on to my GBP/USD trade which I initiated from the night before.

Last night, (20-09-2007), I initiated a long position on the GBP/USD at 12:45am (Singapore Time). GBP has more strength against the USD compared to EUR. If I were to buy, I will prefer to buy on GBP/USD compared to EUR/USD.

So, I was waiting for the right moment to enter the market after it ran towards the 200ma in my hourly chart. It had two downclose and I initiated my long position when the second downclose candle touches the 6ma in my hourly chart at the price line of 2.0109. This is a little bit of an aggresive trade.

My stop loss is at 2.0065 (at parabolics) and my target profit that I am looking is at 2.0235 (Near to the high of 14-09-2007). My long position is still open and I am keeping it to see if it can reach my target profit. As of now at 1:55am (Singapore Time), 22-09-2007, the current price is at 2.0190. I am already 81pips in the money.

I will post the outcome of this trade in time to come when I decide to close it or if it reaches my TP and my "OCO" is triggered :)

Peace and trade safely everyone...

EUR climbing towards 1.4100 against USD.

Hello everybody.

The USD extended its loss against its major rivals today on speculations that the Fed may continue to lower fed fund rates in the rest of the year. The EUR touched just below 1.4100 against the USD, while the JPY strengthened to as low as 114.00 against the USD.

The USD index fell to an all-time low at 75.73 yesterday. Interest-rate futures pricing indicated traders see an 80% chance that the Fed may cut a quarter-percentage point to 4.50% on its policy meeting at the end of October.

In the early session, US unemployment claims fell 9k to 311k, beating the estimate of 321k. Philadelphia Fed business conditions index dropped from 0.4% to minus 0.6% in August, below the estimate of minus 0.2%.

Fed Chairman Ben Bernanke today said in a congressional hearing that subprime mortgage delinquencies are likely to rise further, and the Fed is committed to prevent lending problems. He added the market tends to self-correct over time and subprime mortgage market has adjusting sharply. US Treasury Secretary Henry Paulson said the Fed’s move help stabilize market credit crunch.

The USD extended its loss after London’s Daily Telegraph newspaper cited that Saudi Arabia did not lower its interest rates in line with the Fed, though King Abdullah’s advisor said the country will not unpeg its currency from the USD in the near future.

Peace and trade safely everyone...

My USD/JPY Trade (20-09-2007)

*Attached chart, click on it for the enlarged version.

Hello people. USD is really getting whacked upside, downside, sideways and all over the sides :P Hahaha!!! EUR/USD broke through the 1.4000 price line.

Anyway, today, I was looking at the USD/JPY. What attracted me to this particular pair was that I saw the Double-Top being formed and it is slowly crumbling right after. I was looking for any reason to initiate a trade on the downside.

Upon approaching 1:00pm(Singapore Time), market died for awhile and 1:00pm candle broke down. 2:00pm(Singapore Time) was my confirmation but I was still hesitant. I then initiated a short position on this pair at 3:20pm(Singapore Time), price line of 115.47. My stop loss at 115.75, target profit at 114.80(Near to the 200ma in my Hourly chart and 10ma in Daily chart).

My target profit was triggered at 10:25pm(Singapore Time). 67pips profit for this trade.

Peace and trade safely everyone :)

Dollar Recovery from Fed's Rate Cut. (20-09-2007)

Hi guys! Something to share with, for reading purposes :)

The dollar today pared its loss from the Fed’s aggressive rate cut as investors believe the rate cut will help the US economy. The currency fell sharply yesterday after the Feds slashed USD's interest rates by 0.50% yesterday.

US equities gained further today with the Dow Jones Industrial Average rose 76.17 to 13,815.56 and the Standard & Poor’s 500 index rose 9.25 to 1529.03 at 4:15 pm. The rally in stock market stimulates carry trades modestly. The yen weakened to above the 116 level against the dollar.

The euro failed to extend beyond the record high at 1.3687 set on as traders sold the euros to protect option bets at 1.40 against the dollar. The pair consolidates in range between 1.3940 and 1.3987.

Earlier in the US session, a bunch of inflation and housing reports came out weaker than expected, supporting the rate cut yesterday. US CPI declined 0.1% in August, below the estimate of an unchanged reading. Excluding food and energy, core CPI rose 0.1%, less than the estimate of 0.2%. US housing starts dropped 2.6% to an annual rate of 1.33 million units in August, while building permits fell 5.9% to 1.307 million units.

Later tonight, 8:30pm (Singapore Time) we will see USD unemployment claims, 10:00pm (Singapore Time) Uncle Bernanke is speaking and at 12:00am (Singapore Time) Philadelphia Fed Manufacturing Index.

The sterling was still under pressure from the liquidity problem in UK banking system due to subprime issue. After Northern Rock was bailed out last week, the Bank of England announced today to allow commercial banks to use mortgages as collateral to borrow via three-month repos. The sterling fell off the high at 2.0172 set Tuesday to the key level at 2 versus the dollar.

EURUSD will face interim resistance at 1.40, followed by 1.4020 and 1.4050. Additional ceilings will emerge at 1.4080, backed by 1.41. Support starts at 1.3950, backed by 1.3930, 1.39 and 1.3880. Subsequent floors are eyed at 1.3850.

USDJPY encounters interim resistance at 116.30, backed by 116.50 and 116.80. Subsequent ceilings will emerge at 117, followed by 117.30 and 117.50. On the downside, support begins at 116 and 115.70, followed by 115.50. Additional floors are eyed at 115.30, backed by 115 and 114.70.

GBPUSD encounters interim resistance at 2.0030, backed by 2.0070 and 2.01. Subsequent ceilings will emerge at 2.0140, followed by 2.0170 and 2.02. On the downside, support begins at 2, followed by 1.9980 and 1.9950. Additional floors are eyed at 1.9930, backed by 1.99 and 1.9870.

My GBP/USD Trade (19-09-2007)

*Attached chart, click on it for the enlarge version.

Greetings people. Today, I was kind of forcing myself to be patient with the market :P It seriously started off slow today and I have to trade with a clear mind after my trade last night on the EUR/USD :P Hahaha!!!

Anyway, today, I was analysing the EUR and the GBP and I saw that the GBP was weaker compared to the EUR. At 3:00pm (Singapore Time), the candle was forming into a big downclose candle, a big bearish engulfing! I initiate a scalping short position on the GBP/USD at the price line of 2.0101 at 3:40pm (Singapore Time). Target profit at 2.0060 (23ma at the point of time) and stop loss at 2.0121. Risk reward ratio of around 1:2.

My target profit was triggered at 4:40pm (Singapore Time) with a profit of 41pips for this trade while I was at Singapore Post Office :)

Peace and trade safely everyone...

My EUR/USD Trade (19-09-2007)

*Attached chart, click on it for the enlarge version.

Hello people. My biggest trade today. You may call it a crazy trade as well. I was planning not to initiate any trade before the Fed's announcement on USD's Interest Rate Statement at 2:15am (Singapore Time).

But let me tell you the story, I can't sleep due to my stupid flu and my blocked nose. Irritating the crap out of me. So I was looking at the charts and I saw something really beautiful and I just can't help it.

EUR is definately having some strength against the USD and at the end of 11:00pm (Singapore Time), it formed into a doji. Taking into consideration that at 8:00pm (Singapore Time), it jumped a little followed by tiny down close at 9:00pm (Singapore Time) and 10:00pm (Singapore Time).

I just couldn't help it but initiate a long position at the price line of 1.3870 at the beginning of the 12:00am (Singapore Time) candle. I am not trading the news but the signal was just so beautiful and from 12:00am (Singapore Time), I was looking at the charts like a hawk till my nose became unblocked due to my heart rate pumping so fast :P Hahahaha!!!

Since the first immediate resistance level is at 1.3920, I put my target profit at 1.3970 (It is my next immediate resistance level based on my own analysis) and stop loss at 1.3855. I was looking at it very closely and here comes 2:15am (Singapore Time). I tell you, watching the market move was like looking at fireworks. I was so excited that I almost forgot that I had an open position. My apologies to those trader friends that I was continuosly message and bugging them while the market moved :P Hahaha!!!

Anyway, to cut my long story short, my target profit was triggered with 100pips profit and that is US$1000 based on 10mini lots. Just a word of caution, this kind of trade is not good for the faint hearted :P Before I end, the FED's actually took a rate cut till 4.75% from their previous interest rate of 5.25%. Thank you market for showing me an early signal to enter :P Hahaha! Wooohoooo!!!

Peace and trade safely everyone...

My EUR/JPY Trade (18-09-2007)

*Attached chart, click on it for the enlarge version.

Hi guys. One of my trades today, this one is on the crosses, the EUR/JPY. Initiated this trade at 2:50pm (Singapore Time). I saw that there was a good support at the price line of 158.79 and the candle bounce after it touches that price line. So I went in for a range trade.

I initiated a long position at the price line of 159.09. Stop loss at 158.80 and target profit at 159.60. My target profit was hit at around 4:35pm (Singapore Time). That's a 51pips profit for this trade :)

Peace and trade safely everyone...

Global Events Calendar [17-09-2007] - [21-09-2007]

*Time is with respect to Singapore Time (GMT+8:00)

----------------------------------------------------------------------
Global Events Calendar [17-09-2007] - [21-09-2007]
----------------------------------------------------------------------

Monday [17-09-2007]
[Whole Day Event]---JPY Holiday: Respect-for-the-Aged Day
7:00am--------------USD Alan Greenspan Speaks
12:00pm-------------USD Alan Greenspan Speaks
2:50pm--------------USD Treasury Secretary Paulson Speaks
5:00pm--------------EUR Trade Balance
8:30pm--------------USD Empire State Business Conditions Index
11:00pm-------------CHF SNB Chairman Roth Speaks

Tuesday [18-09-2007]
12:45am--USD Treasury Secretary Paulson Speaks
7:50am---JPY Tertiary Industry Activity Index m/m
9:00am---USD Alan Greenspan Speaks
3:15pm---CHF Industrial Production q/q
4:30pm---GBP CPI y/y
4:30pm---GBP Core CPI y/y
4:30pm---GBP RPI y/y
5:00pm---EUR German ZEW Economic Sentiment
5:00pm---EUR ZEW Economic Sentiment
8:30pm---USD PPI m/m
8:30pm---USD Core PPI m/m
9:00pm---USD TIC Net Long-Term Transactions

Wednesday [19-09-2007]
[Time Unknown]---JPY Interest Rate Announcement
[Time Unknown]---JPY BOJ Governor Fukui Speaks
1:00am-----------USD NAHB Housing Market Index
2:15am-----------USD Interest Rate Statement
2:00pm-----------EUR German PPI m/m
3:15pm-----------CHF Retail Sales y/y
4:30pm-----------GBP MPC Meeting Minutes
8:30pm-----------USD CPI m/m
8:30pm-----------USD Core CPI m/m
8:30pm-----------USD Housing Starts
8:30pm-----------USD Building Permits
10:30pm----------USD Crude Oil Inventories

Thursday [20-09-2007]
7:50am---JPY BSI Large Manufacturing Conditions q/q
1:30pm---EUR ECB President Trichet Speaks
2:15pm---CHF Trade Balance
3:00pm---JPY BOJ Governor Fukui Speaks
3:15pm---CHF PPI m/m
4:00pm---EUR Italian Unemployment Rate
4:30pm---GBP Retail Sales m/m
4:30pm---GBP Public Sector Net Borrowing
4:30pm---GBP M4 Money Supply m/m
4:30pm---GBP BSA Mortgage Approvals
5:00pm---CHF ZEW Expectations
6:00pm---GBP CBI Industrial Trends Orders
8:30pm---USD Unemployment Claims
10:00pm--USD Fed Chairman Bernanke Speaks
10:00pm--USD Leading Index m/m

Friday [21-09-2007]
12:00am--USD Philadelphia Fed Manufacturing Index
7:50am---JPY All Industries Activity Index m/m
4:00pm---EUR Current Account
4:00pm---EUR Manufacturing PMI (p)
4:00pm---EUR Services PMI (p)
5:00pm---USD Fed Governor Mishkin Speaks
8:00pm---USD Fed Governor Kohn Speaks
11:00pm--EUR ECB President Trichet Speaks
11:00pm--CHF SNB Chairman Roth Speaks

[After Friday's Mid-night]
1:00am---USD Fed Governor Warsh Speaks

----------------------------------------------------------------------

EUR ECON: Italian July IP -0.4%m/m vs. Revised -0.6% In June

Italian SA industrial production recorded another fall in July by 0.4% m/m against market expectations of a rise by 0.3%. Annually it declined by 0.5%. The dip follows already very poor data published for June with production falling by 0.6% m/m (revised) and 0.1% y/y.

ISTAT reported a fall in intermediate and energy goods by 1.5% and 0.5% respectively which drove the fall in industrial production. As expected consumer goods were up 0.5% in July after dipping in June by 1.8%. Note that there were 22 working days in July 2007 against 21 the same month last year.