June 13, 2008

Closing the positions when uncertainty increase, Taking 19 pip profit

I closed the positions, EURUSD and USDJPY, taking totally just 19 pip. There are reasons that increase uncertainty significantly:

  • G-8 summit and the possibility of discussion on dollar weakness and currency intervention, at least in the words
  • Bank of Japan will release its monthly report in less than one hour which is not expected to be positive for the Yen
  • Although the US CPI and any other inflationary signs are generally negative to the stock market, but it makes people more convinced that the Fed will raise interest rate sooner.

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