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BKForex Big Trades -- New Orders for EUR/USD and GBP/USD
Place Order to Sell 1 Lot at 1.0805
Place Order to Sell 1 More at 1.1010
Stop for ALL at 1.1190
Place Order to Sell 1 Lot at 1.5150
Place Order to Sell 1 More at 1.5330
Stop for ALL at 1.5520
EUR/USD broke through its 1.08 support level to trade at its lowest level since April 2015. The latest move was driven by the growing divergence between Eurozone and U.S. monetary policy. The ECB is poised to increase stimulus the same month that the Fed is expected to increase interest rates for the first time in 9 years. The rush from NFP will be felt for some time as investors place their bets for December liftoff. This unambiguously positive U.S. report gives the Fed the green light to raise interest rates in December and from now until then the path of least resistance for the dollar will be higher. Unless ECB officials start backing away from their call for more stimulus EUR/USD could test 1.05 in the coming weeks as traders position for easing from the ECB and tightening from the Fed. So if you are looking to ride the NFP rush further, selling EUR/USD on any bounce could be a smart trade.
We also like selling GBP vs. USD because we believe that this week’s stronger UK employment report will give us the opportunity to initiate a short position. The Bank of England’s surprisingly dovish view must be driven by some deterioration that we have yet to see and -- so there’s a reasonable chance that the recent improvement in the economy will begin to fade.
BKForex -- Sell EURJPY TRIGGERED at 135.91 Stop at 136.51 Close 1/2 at 135.61, move stop to breakeven Close rest at 134.25
BKSWING Stopped on short EUR/JPY -- 120 on trade
BKForex Videos for week of 04.08.13
Monday Morning Webinar -- Market Outlook
Tuesday Webinar -- Technical Analysis Overview
Wednesday Webinar -- World Markets
Thursday Webinar -- Trading Strategies
Friday Webinar -- Trading Review
This is NOT a webinar but a video that we produce every week with Market Overview -- similar content as the Monday Webinar
For the following video
Technical Analysis Video
You can access all of our daily and weekly Technical Analysis videos at: