Buy on fear, sell on greed,
Buy on the rumor, sell on the news,
The trend is your friend,
Amateurs want to be right. Professionals want to make money!Ok Forex Traders, we have a lot of big forex events coming next week!
- Monday: After last week's US Jobs data sets in....will this be the start of an uptrend in the USD? or will the shorts look for a spike as an entry point to once again pounce on the flimsy 2% US growth. If the USD spike...look for a pop due to short covering
- Tuesday: Reserve Bank of Australia (RBA) will likely cut Aussie Interest Rates by 25 basis points
- Wednesday: CB of Iceland, CB of Poland, and the Bank of England are meeting -- most important news, will the BOE continue quantitative easing? 50 billion? 75 billion?
- Thursday: European Central Bank Meeting -- Greek Debt Deal? Will Draghi cut rates?
TRADE 1 - SELL AUD/USD
Rate: 1.0750 (or higher if possible)
Stop: 1.0975
Limit: 1.0380
REFERENCE: John Kicklighter, Senior Currency Strategist from DailyFX.com
TRADE 2 - BUY USD/HKD (This is Ara's baby)
Rate: 7.75250
Stop: 7.74622
Limit: 7.83000
TRADE 3 - BUY EUR/CHF (Play on the SNB's repeated promise to hold the 1.20 floor)
Rate: 1.20100
Stop: 1.19500
Limit: 1.24500
TRADE 4 - BUY USD/JPY (BOJ intervened twice before, and will again - i.e. YENtervention)
Rate: 76.100
Stop: 75.500
Limit: 85.000
TRADE 5 - SELL EUR/CAD
Rate: 1.31000
Stop: 1.33000
Limit: 1.27000
TRADE 6 - BUY CAD/JPY (US Uptrend+commodities vs. YENtervention)
Rate: 75.500
Stop: 73.000
Limit: 85.000
TRADE 7 - BUY GBP/USD (BOE reducing their QE amount, and reality about the US economy)
Rate: 1.57750
Stop: 1.57000
Limit: 1.61500
Full Disclosure: I am buying/selling 10 units of each. FYI - 1 unit of each will cost you about $214 of margin. PLACE YOUR TRADES DURING THE SUPERBOWL...yeah...that's dedication! If you already have some of these orders in, check the new pricing and adjust your rate/stop/limit...
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