April 4 - April 9

No new trades for tonight - our data feeds are incomplete due to early closing on Friday.

We are going to stay out of the market tonight (tomorrow) as well.
Between the intervention by SNB, possible elections in UK, fall-out over the Greek debt solution, it is better we wait and see.

We do have a our trade to short the EURUSD at 1.3700, SL 1.4000 TP 1.3300
The potential volatility may just pick up our order.

The Dwarf and Sundae Trades are in play - one picked up and the other still waiting.

Levaz

Here is one that a lot of you may not like

EURJPY short at 126.44 SL 127.00 TP 124.50

Just be careful, as the Yen crosses are rather volatile.

The same applies to all yen crosses - GBP and USD - we expect more downside for tomorrow.
See if you can sell at the highs and take 30 - 50 pips and get out quick.

We have opted to short the GBPJPY. You need to get in NOW if you are going to do this trade - it is already on the move. just lock in 50 pips (and move to break even after 10 - 20 pips of profits)

We are revising our pending order for the ERUUSD
Short at 1.3500 SL 1.3600 TP 1.3300

Levaz wrote:Here is one that a lot of you may not like

EURJPY short at 126.44 SL 127.00 TP 124.50

Just be careful, as the Yen crosses are rather volatile.

The same applies to all yen crosses - GBP and USD - we expect more downside for tomorrow.
See if you can sell at the highs and take 30 - 50 pips and get out quick.

USDJPY short at 93.70 SL 94.27 TP 92.81

No good trades today

The existing trends look like they will continue for the short term, however, most pairs have witnessed retraces to the nearest Moving Average lines. These are not good point to either get into a trend trade or try to predict a change in direction.

Some of you may want to consider this:
(We are not trading this pair yet, we would like to see a reversal occur first)

GBPCHF short at 1.6480 SL 1.6600 TP 1.6200

While this pair is trending up, the GBP appears to be running out of steam, as it approaches resistance. This is a very dangerous play as the GBP is a rather painful currency to trade, and there is a chance that the current trend may continue all the ay to 1.6700.

The GBP and EUR are also looking to pick up some more point against the USD. Also, it appears that the CHF may take back some of the USD gains. But with SNB interventions on-going, this is another dangerous play.

Levaz

Another counter trend trade that we are considering (well, we have place the order), is:

GBPUSD short at 1.5345 SL 1.5425 TP 1.5200

The logic being that current momentum may carry the GBP higher, where it faces a strong resistance at 1.5400 and possibly test the lows once again.

The only problem here is that when a currency pair hangs around a support/resistance point for so long, chance are more likely than not that it plans to break through that support/resistance line. In our case, the pair has been hovering the area for a week thus far.

If you are concerned, then place your order at the last peak in this area around 1.5381, this will reduce your exposure to a loss in case the pair does break through.

Levaz