Hello everyone,
A few days ago, I have made analysis on most of the USD based major pairs (EUR, GBP, CHF, CAD, NZD, AUD). And true enough, we are seeing the USD weaken after a poor ISM Manufacturing data of 49.0 only against 50.6 expectations and 50.7 in previous month. The US has not seen pessimism since Dec’12 2012, and probably the first decline below 50.0 this year so far.
Of course, the bulls rider, rides on this opportunity and most of my prediction came to past. Let’s try to recap on my stand:
EURUSD:
My take was to LONG; it hits 1.2970, TP 1 @ 1.3050, TP 2 @ 1.3100. Both TP hit.
Subsequently, next move is to SHORT the EURUSD @ 1.3140, TP 1.2980, 1.2740. (Price was not achieved, EURHSD highest was 1.3106 on Monday)
No. of pips: + 210 pips
GBPUSD:
Initial take was LONG @ 1.5170, TP 1 @ 1.5280, TP 2 @ 1.5340. SL @ 1.5125 & 1.5070. However, the opening on Monday was 1.5190 and went up without looking back. Therefore, TP target would have been hit, but position unfulfilled.
Then, next move is to SHORT @ 1.5300, TP 1 @ 1.5170, TP2 @ 1.5030, SL @ 1.5340, 1.5420. Position filled, but hit SL1 @ 1.5340.
No. of pips: -40pips
AUDUSD
Both take is to LONG @ 0.9560 @ 0.09520 with a SL @ 0.9470. TP 1: 0.9690, TP2: 0.978, TP 3: 0.9880. The AUDUSD hits 0.9790 highest, hitting TP 1 & 2 range, but not TP3 after positive China Manufacturing PMI, Positive Retail Sales m/m, higher Company profit q/q etc.. most importantly is the poor U.S ISM Manufacturing that creates this opportunity. The sad part is, the positive news of the China Manufacturing PMI has caused gap in Monday’s opening and therefore failed to fill in position.
No. of pips: 0pips
NZDUSD
My take is to LONG @ 0.7930 (failed to hit target by 10pips), TP @ 0.8040 (HIT) and TP 2 @ 0.8130 (Missed by 13 pips).
Second take is to SHORT @ 0.8000 (HIT), TP @ 0.7920 & 0.7820, SL @ 0.8030 (Hit SL) & @ 0.8080 (HIT SL again too)
No. of pips: -110 pips
USDCHF
Both take is to LONG @ 0.9600 (last week position) & LONG @ 0.9540 (this week position) – Both HIT, TP 1 @ 0.9730 (HIT last week), TP2 @ 0.9830 (unfilled, missed by 40pips), SL for both is 0.9470 (both hit – on the poor U.S. ISM Manufacturing results)
No. of pips: -70pips
USDCAD
Both take is to SHORT @ 1.0400 (HIT) & 1.0445 (unfilled), TP 1 @ 1.0300 (HIT) & 1.0230 (unfilled; missed by 30pips), SL @ 1.0470 (NOT hit)
No. of pips: + 100pips
Total gain: 100pips. (if only AUDUSD and NZDUSD order was filled by that 10-20pips difference) Monday earnings would be more than this result.
Nevertheless, we want to move on see for more potential result. Please stay tune tomorrow for mid-week updates. Cheers 🙂
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