While the EUR/USD did as we expected in yesterdays Forex commentary the GBP/USD did not thanks to the weakness in the EUR/GBP. Good job to those members who did catch the Euro short. It didnt give me the entry I liked and I unfortunately took the GBP/USD expecting the USD strength to prevail and it [...]

Not much has changed for the EUR/USD since yesterday. We are still in chop mode and testing the hourly 200ema as I type this. I was kind of kicking myself for missing the short during the Asian session yesterday. There was an aggressive entry for the short but it never gave me a decent pullback [...]

You have to love it when a plan comes together. Yesterdays trading day was great all around. The Euro gave the entry short during the last minutes of the London session live room for a move of over 100 pips and then during the New York session Sterling got the long entry for the New [...]

First I want to thank all of you for the well wishes for my father in law. It means alot and he is getting better so it isnt serious pneumonia but he is still in the hospital recovering and having more tests done. The EUR/USD today has seen 2 pushes to the upside. Albeit on news [...]

We have been pushing extended levels in the EUR/USD all week now and have a better chance for the reversal considering it did come within 15 pips of the daily support level around 1.2150. Considering this I will still only be willing to take the long with a clear stop run to yesterdays low. Otherwise [...]

Looking at the EUR/USD this morning I see the attempt to push lower has been held up by Tuesdays lows even though we did have a nice 1hr close below that level. My bias is still to the downside here but it is looking like it may be entering the 3rd push chop before a [...]

The EUR/USD did make a feeble attempt at a stop run as I mentioned in the July 10th commentary. However to be honest I expected a little more than that. It seems the smart money is having trouble inducing buying to sell into even though the rumors were flying around from the ECOFIN meeting and [...]

The EUR/USD has made what I would call a half baked attempt at the reversal for a whopping 66 pip move from the lows to highs yesterday. At this point I am considering this to still be the 3rd push chop and can go either way. Of course my fundamental bias is down but I [...]

The EUR/USD did the extension of the pushes Friday and squeezed out a forth push to the downside rather than attempt the reversal showing just how weak the Euro is at the moment. However today I will still be cautiously looking for the reversal. I definitely wont be holding for a longer push but the Smart Money [...]

My trade plan for the Euro yesterday played off almost exactly as expected. It didnt give me the manipulation at the point I was most happy with and I had a feeling I might have to take a more aggressive entry. Of which I was prepared to do considering the 2nd push trades have the [...]

The EUR/USD has made its second push down from the highs for another run of over 100 pips. The slight bias for the short over the last couple days has proven to be the correct direction for the trade. However entries have been elusive. I did manage to catch the GBP/USD short on Tuesday but [...]

Today we again have the EUR/USD holding in the chop and finding support at Mondays lows. With the ECB meeting and rate decision tomorrow the chances for the market to hold this chop goes up. I do still have a slight bias for the short but it could go either way. Today I will be [...]

The EUR/USD has seemed to enter a choppy market. As I warned from the July 2nd commentary this news driven bull run may be short lived but I did expect it to go for just one day. It does still have potential for the third push today and not clear the highs but that is [...]

The EUR/USD has made a significant jump as we all know due to the grand plan to have a plan to fix the Eurozone. It is showing 2 clear pushes for almost 300 pips and I will be expecting the third today but I will be happier to see a deeper pullback into the 1.2600 [...]

The optimism for the EUR/USD that was gained from a WSJ article stating that Germany was closer to letting Euro Bonds happen was quickly crushed by the German finance ministry with a spokes person making the statement of “Schauble did not say Germany will move sooner on shared liability for debt”. What strikes me as [...]

The optimism in the Euro never came about yesterday as it would seem that investors are in wait and see mode rather than anticipating that there will be anything actually worked out in the EU Economic Summit that starts today. I guess they are getting smarter faster than I thought. The first sentence of this [...]

The EUR/USD has seen the clear 3 pushes to the downside longer term now. Even though the push yesterday was just under 90 pips we aren’t going to split hairs on its validity. Today we will be expecting the reversal for the move up. The bottoming formation that is forming here has found support at Mondays lows [...]

The EUR/USD did as expected and made the next push to the downside yesterday. Looking closely at the chart at this point I do see 3 intraday pushes from the highs for almost 300 pips over 4 days and now I am figuring a reversal may be the higher probability today. We are seeing the [...]

We were correct with the small downward bias for the EUR/USD and GBP/USD yesterday. However the timing of the trade was off and I took the 20 pip hit on the GBP/USD. We had a nice set up but the Smart Money had a bit more manipulation to do and I got caught in it. [...]