Trading Excellence

By Haris Anwar and Jamie McGee

July 3 (Bloomberg) -- Canada's dollar fell after a U.S. government report showed the unemployment rate in the world's largest economy was unchanged and the European Central Bank signaled it may not raise interest rates again this year.


By Robert Tuttle

July 3 (Bloomberg) -- Crude oil rose to a record on concern conflict with Iran over its nuclear program would cut Persian Gulf supplies.

Ali Akbar Velayati, adviser to Iran's supreme leader, said his comments earlier this week that Iran must consider talks over its nuclear program didn't mean his country would accept Western incentives to abandon uranium enrichment, Agence France-Presse said. Iran is OPEC's second-largest oil producer.

Nearly all of oil's ``last $10 move is based on the potential for an Israeli-Iranian conflict,'' said Andy Lipow, president of Lipow Oil Associates LLC, a consulting company based in Houston.

Crude oil for August delivery rose 43 cents, or 0.3 percent, to $144 a barrel at 9:54 a.m. on the New York Mercantile Exchange. It earlier touched $145.85, the highest since trading began in 1983.
 
USD/CAD is over 0205 and should retrace a bit soon.

GBP/CHF is high and if it reahces 0400 soon the it's worth considering a sell attempt. Target 75 pips +

USD/JPY should bounce down at the 107.00 area target 30 pips at least

EUR/USD I'd like to see drop a bit more below 5780 before a long attempt. Target 50 + pips

USD/CHF should work it's way up a bit more, to about 0300 before a safe sell would be considered. Target 60 pips+

EUR/GBP is ready for a bounce back up soon, currently at 7926. Target 20 pip+
 
Canadian employers unexpectedly shed jobs in June for the first time this year, pushing the unemployment rate up and showing that the effects of the U.S. slowdown are spreading through the country's economy.
 
Quote from FXAnalyst:

Canadian employers unexpectedly shed jobs in June for the first time this year, pushing the unemployment rate up and showing that the effects of the U.S. slowdown are spreading through the country's economy.
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USD/CAD rises about 80 pips then plummets 100. Bought at 0078 as it's sure to bounce a bit. Fundamentals don't explain the volitility to me yet, more reading required however technicals are providing ideal entries and exits for the nimble trader.

:)
 
TOKYO (Thomson Financial) - Bank of Japan (BoJ) Governor Masaaki Shirakawa said on Friday the Japanese economy is expected to grow at a slower pace for the time being, but that it is likely to maintain its underlying growth momentum going forward rather than slipping into a serious recession. 'Japan's economic growth is slowing further, reflecting weaker growth in business investment and private consumption against a backdrop of higher energy and material prices,' Shirakawa told a press conference, reiterating an economic assessment made last week. 'And it is likely to grow at a slower pace for the time being, but it is not likely to slip into a deep adjustment phase and gradually return onto a moderate growth path thereafter,' he said.
 
DUBLIN, July 18 (Reuters) - Euro zone growth is likely to be weak in the second and third quarter before staging a recovery, and the risk of second-round inflation effects needs to be taken seriously and prevented, ECB President Jean-Claude Trichet said. 'Our base-line scenario is that we will have a trough in the profile of growth in the euro area in the second and third quarters of this year and, following this, a progressive return to ongoing moderate growth,' Trichet said.

The comments by the head of the European Central Bank were published on Friday based on a joint interview with four European newspapers conducted on July 11.
 
Quote from FXAnalyst:

GBP is rising to a boucepoint of about 9995-2000 for a daytrade down. Stop 25-30 pips. Target 45-50 pips lower.
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I missed the entry on that... good thing, it was a losing trade concept due to breakout up of G/U during an often slow time of day. Given the unfolding pattern, another bouncepoint is expected near 0050 if it gets there today. Stop placed about 20 pips higher and target 40-45 pips below.
 
EUR/USD appears to have reached a bouncepoint at 5823-25 area and should be good for a daytrade up of 25-30 pips with partial profit taken to cover a close stop.
 
Quote from FXAnalyst:

I missed the entry on that... good thing, it was a losing trade concept due to breakout up of G/U during an often slow time of day. Given the unfolding pattern, another bouncepoint is expected near 0050 if it gets there today. Stop placed about 20 pips higher and target 40-45 pips below.
More...

GBP did drop nicely but after reaching a bit higher today. As it failed to reach 0050 area yesterday I didn't trade it and missed the sell at over 0070 when it reached there.

Jus scalped the EUR with partial buy and was stopped with tight stop on rest. A rebuy is being contemplated and will happen especially if 5800 is touched soon only.
 
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