ZuluTrade

To myself, thank you.

TRADING UPDATE 04 June 2012 @ 13:10, today is a GBP holiday, trading volume for the European and UK sessions have been lite so far. GBP & EUR against USD & JPY are range bound and moving sideways in 30-40 pts bands. I will look to trade the breakouts of the bands, rather than trade inside them, for now. With regards my current open position on GBPJPY. I have moved the TP to just 15 pts (inside its band). If the position confirms it is wrong by continuing with the recent selling seen for May, I will reverse the position and add some EUR to the sell. I do anticipate a small relief rally, as RSIs have oversold readings on the Daily periodicities on several fixes, but I will only keep one postion open against the long-term sell. A further trading update will be provided either later on today, if anything changes during the US session, or midday (London time), tomorrow 05 June 2012. Best wishes, John.

TRADING UPDATE 05 June 2012 @ 13:10, yesterday's US and Asian sessions saw some recovery for AUD, GBP, and EUR, against the USD, and JPY. Those gains were largely surrendered in early trading for today's European and UK sessions. USD has also resumed its strengthening against CHF, and CAD. Australia's rate decision came in at 3.50% shaving a quarter off the previous rate. Most of the reports out of the Eurozone have come in under forecast. The US session will see the Bank of Canada's rate decision. My pending order buy on AUDCAD was taken in due to the news out of Australia, I was already long USDCHF, as they are inversely coefficient, one of those deals was wrong, I closed the accidental cross currency hedge out together for a small gain. I am currently looking at the price action for clues of trend continuation, or any potential signs of a swing. Next update tomorrow 06 June 2012. Best wishes, John.

TRADING UPDATE 06 June 2012 @ 15:20, today's Asian session was as usual, an orderly affair, with gains seen in AUD, GBP, and EUR. Australia posted above forecast GDP figures. The ECB rate decision was held at 1%. My two EUR sells were stopped out. The stops were placed over the resistance trend lines for the channel downs seen since late April / early May (on the H4). Those patterns, as it stands for me, are completed. The European, UK, and US sessions have seen some volatility, I suspect off the back of the Fed and ECB releases. Although I think the bias for EUR is to the sell side, EUR has been retracing since the 01 June lows, because I consider it to have broken free of the channel down, my trade plan states I should buy the breakout. If my current EURUSD and USDCHF positions are stopped out, I will hold off on trading to observe further price action. Next update tomorrow 07 June 2012. Best wishes, John.

TRADING UPDATE 07 June 2012 @ 13:10, by the close and roll of yesterday, EUR, GBP, and AUD had developed some good momentum in recovering value against USD, and JPY. Rising channels can be seen on H1 / H4 for them. Australia is having a good week. More positive news, in the form of Employment Change, which was up and over the forecast, causing the spiking in AUD earlier on in the Asian session. Bank of England rate decision held at a half percent. The announcements caused spiking across many pairs. Although there have been new highs for the week since the BoE news, I do not like to trade news spiking and whipsaws. They can often be dangerous and for me it's best to walk on the side of caution. Before that, most of the instruments I use were range bound and didn't present me with a deal that I was confident about. I've had to sit on my hands for today. Although EUR, GBP, and AUD are firmly pulling back from their 01 June lows, on a technical basis, I still consider them long-term sells at present. There is some big trend line resistance coming up for those currencies, and I am looking to see what the price does in these areas, to either bounce or break and provide some better trading opportunities for larger points hauls. Next update tomorrow 08 June 2012. Best wishes, John.

TRADING UPDATE 11 June 2012 @ 13:30, China posted some good results during today’s Asian session. Data releases are lite today. Notably, Spain was given a helping hand over the weekend from European bailout funds. Spain is reported to be receiving somewhere between EUR 80 - 100 Billion. The Spanish banking group, Bankia, which I'm told passed its stress test not that long ago, reportedly asked the Spanish government for apx EUR 18 Billion to prop itself up. Make of that what you will. From the pull back highs on 07 June, GBP, AUD, and EUR returned sizeable gains made, to USD, and JPY in the following Asian, European, and UK sessions of 08 June, but clawed some of that value back during the US session. The weekend gapping was considerable and resulted in my GBPJPY sell being stopped out. For now, I have placed several pending order sells below the June 08 lows, which I consider to be confirmation of further selling, as confluence support would have to be breached. Until I am certain there is more strength to come for GBP, AUD, and EUR, I will hold these orders in. Next update tomorrow 12 June 2012. Best wishes, John.

TRADING UPDATE 12 June 2012 @ 13:30, note worthy data releases have been few so far, for the week. Yesterday, all sessions saw some heavy corrections after the large weekend gapping. In today's Asian, European, and UK sessions, the dust seems to have settled, AUD, EUR, and GBP are slowly making gains against USD, and JPY. USD is also rising against CHF, and JPY. For me, there is no clear picture of direction at present, and it is best to stay out of the market. I have left my pending order sells in, and I am monitoring for any signs of breakout in the opposing direction of those sells. Next update tomorrow 13 June 2012. Best wishes, John.

TRADING UPDATE 13 June 2012 @ 13:10, nothing exciting to report on the news front so far. The US data releases for today may have an impact. The Reserve Bank of New Zealand will be announcing its rate decision later on. The prices for the majors and major crosses are still range bound, and coiling. Again, I don't see a clear sign of further strength, or weakness. I am watching for new highs in AUD, and GBP, against USD, and JPY at present. Their top horizontal resistance lines for this week are still holding. Next update tomorrow 14 June 2012. Best wishes, John.

TRADING UPDATE 14 June 2012 @ 14:10, I'm going to leave talking about the news today, and give a more in-depth view of my trading outlook. This week, the price across many of the instruments I trade has been travelling sideways. Those bands have been reasonably large, and the price has also been coiling, and as such those bands have been getting narrower. In spite of the recent gains / pullbacks seen for AUD, GBP, and EUR, against USD, and JPY, since the recent 01 June ’12 lows, technically and fundamentally, I still consider the bias to be to sell. I have opened a sell position on AUDJPY because it is close to my daily trend line resistance, which starts at the peak on 19 March '12 and runs down and touches the peak on the 27 April '12. There is also horizontal resistance around 79.70. The two aforementioned trend lines intersect at present and provide confluence resistance. The price would have to have a lot of buyers to get through, and I would consider that a swing is likely if these price interest points are breached, and hold. My stop for the AUDJPY sell is placed 30 points behind the horizontal resistance. If the price finds more strength, and my AUDJPY deal is stopped out, I will reverse the direction and open a buy. I also think that if AUD can punch through the current resistance, that GBP, and EUR crosses are likely to see further strength and I will open long positions on these currencies also. If AUD does start to sell off, I will look to add GBP, and EUR sells. Next update tomorrow 15 June 2012. Best wishes, John.

TRADING UPDATE 15 June 2012 @ 14:10, per yesterday's update from myself, my trading outlook remains the same. This week has provided only two deals that fit in with the rules of my trade plan. I think the markets are close to trending again, and hopefully the coming week will provide some solid trend trading opportunities for us, and top our account balances up. As the weekend is coming up and the Greece election looming, I have removed my pending orders as a safety measure. I do not have access over the weekends, as I'm sure you're aware, and I've no idea how the Greece elections will turn out, and what impact that will have on the markets. I still think the AUDJPY position I have open is a good deal, and I will monitor it until the close this evening. Have a good weekend. Next update Monday 18 June 2012. Best wishes, John.

TRADING UPDATE 19 June 2012 @ 14:10, it's mainly been doom and gloom out of the Eurozone today. Nothing unusual. Although Greece is still very much in the spotlight post the election held on 17 June '12, more attention is being heaped on to Spain. For this week, across the currencies I trade, AUD appears to be the best performer, and may make higher highs, after it's weekend gap opening strength, and subsequent correction yesterday. GBP, and EUR, against USD and JPY are still travelling sideways. I had thought that there would be more pronounced price action this week, based on the price on many instruments crossing through strong support or resistance lines, or bouncing off them. That may be yet to come. My AUDJPY deal carried over the weekend was proved to be wrong and was stopped out, however, I was presented with numerous opportunities to close the weekend gapping, I quickly made up the loss, and moved the account forward. I am monitoring for signs of trend continuation or potential swing (AUD looks close to me). Next update tomorrow 20 June 2012. Best wishes, John.

TRADING UPDATE 20 June 2012 @ 15:45, news from around the globe has been mixed today. The Fed rate decision and the FOMC economic projections will be announced later on during the US session, as well as New Zealand's GDP figures, during the Australian session. There's likely to be some spiking and whipsaws from those announcements. For the rest of today, I am going to stay out of the markets, for safety reasons. Next update tomorrow 21 June 2012. Best wishes, John.

Thanks, John. Very pleased with how you're going forward.

TRADING UPDATE 21 June 2012 @ 16:00, feeling unwell today, I have been periodically checking for opportunities, but not quite had my finger on the pulse. Hopefully, business as usual tomorrow. Next update tomorrow 22 June 2012. Best wishes, John.

TRADING UPDATE 22 June 2012 @ 15:10, quick news, during yesterdays US session the markets saw some considerable selling in EUR, GBP, and AUD, against USD, and JPY. The rating agency, Moodys, has downgraded numerous tier one Investment Banks. I sold EURJPY yesterday because the stock indices I monitor i.e. DJIA and FTSE were still shedding value quickly. EUR, and GBP usually rise and fall with US / UK indices. There was some recovery during today’s Asian session, which I suspected could happen after the large selling yesterday, however, I thought the likelihood would be continued selling through today, and wanted us to be in that move early on. Much of the day my EURJPY deal has been near breakeven or in profit. Currently there is news coming out from the ECB, which is causing some volatility, the price of EURJPY during today’s Asian session, reached a high of 101.15. The stop loss for that deal is 20 points higher @ 101.35, to allow for our spreads, and some safety margin. The stop loss is in a good place, and if the deal does get stopped out at the point, my view for remainder of the day is to buy and not sell. I will be at my desk until 22:00 (London). Have a good weekend. Next update Monday 25 June 2012. Best wishes, John.