Showing posts with label French CPI. Show all posts
Showing posts with label French CPI. Show all posts

August 12, 2008

The bet finally resulted in 8 percent loss

I closed my positions last night (after U.S market close). Every supports was broken and there was no supportive technical data. In addition, an only pre-order for buying GBPUSD automatically triggered at its daily support which resulted in 49 pip loss very soon.
Looking at sharp drop in commodities prices show that the market may be in an adjusting process. UK CPI and US Trade Balance are ahead but I have no specific plan for the rest of the week.
Although holding positions beyond a day was in contrast by my style but a relatively small size and making a difficult decision (closing all in loss) help to control the loss.
I forget it from now, looking toward the next week. (plan of the trade)

August 11, 2008

Moving Forward with Profit

German wholesale price index rose more that estimates, French industrial production unexpectedly slowed in June when Italian CPI rose nearly in line with expectation. In the UK, Trade deficit widened more than analysts estimates while Producer Price Index Output rose 10.2 percent from a year earlier suggesting inflationary pressures has still way to be moderated.

There is no significant economic data from the U.S. today, but Housing Starts in Canada could affect dollar. I decided to hold my positions, both EURUSD and GBPUSD which are in profit right now. Heading toward Tuesday's UK CPI, I would be prepared to increase the size in appropriate technical conditions. (plan of the trade)

June 11, 2008

EURUSD & EURJPY, better and the best

Betting on the French CPI, I take profit from EURUSD, but it could be tripled if I had EURJPY instead. Yen was generally weaker today when the dollar had found support from the officials' speeches.

Taking 30 pip profit in 90 minutes

EURUSD closed at 1.5494 automatically just 2 minutes before the French CPI report, making 30 pip profit. The CPI show 0.5 % increase in May, 0.1 more than expected. As always, I didn't bet on the data itself but on its primary effects on the market's sentiment.

Euro instead of GBP

French CPI is ahead and it is expected to show a higher level. I decided to bet on Euro instead of British pound which its last night GDP estimate was disappointing. I am long on EUEUSD at 1.5464, and Stop Loss is placed below the yesterday low, where I think is the full price of Fed hawkish words.