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Monthly Archives: April 2013

At about 8:30pm to 9pm, we started seeing a beautiful technical set up indicated by Ichimoku, fast and slow stochastic s, so we short the EUR at 1.3074.

Later on, we squared the position at 1.2994 for a 80bps trading profit or 0.61%

Last Thursday, April 24th was the much awaited preliminary GDP numbers for Q1 2013 for the U.K.

After two consecutive quarters of negative growth, there was great expectation and anticipation in this number.

We felt that it was a market mover and place a spot trade at 1.5288 with a stop loss at 1.5258.

When the data came out positive 0.3%, the pound shot up to 1.5408 in 3 seconds!

We square the position at 1.5470 for a whopping 182bps trading profit or 1.19%.

The Euro has trended downwards rather nicely.  The current spot of 1.2990 brings to our attention and interesting opportunity.

The lows was established on 13 November 2012 at 1.2698 and again in 2013 on 27 March 2013 t 1.2749.  The high being 1.3709 established on 1 February 2013.

The current spot has not yet retraced the 50% 1.3173 from the November’s lows and barely retracing the 38.2% level of 1.3059, the chart below shows the sensitivity: –

EURUSD with fibronacci taking low of 1.2698 of 13 Nov 2012

And, it’s further away from the 38.2% of 1.3110 and 50% retracement of 1.3212 from the lows of 27 March: –


EURUSD with fibronacci taking low of 1.2749_1 feb 2013

The 1 month call option strike at 1.2990 is 132bps or BE of 1.3123 and the 2 month call option is 184bps and BE of 1.3175.  It appears that the 2 month option is more economical and also buys us more time to allow the Euro to recover and build up some steam.

We have executed the 2 month call option: – EURUSD, strike 1.2990, BE 1.3175, expiring 21 June 2013.









Not much on data today except for the UK which happened 20 mins ago; the claimant numbers edged lower at negative 7, forecast was o, unemployment fractionally higher at 7.9% versus forecast of 7.8%, vote by MPC were similar for both no rate change and QE.

I am going to cook my famous cioppino for dinner tonight.  Bought some fresh clams, crab meat and mussels.

Am not going to trade for the rest of the evening and night.

Here’s wishing everyone a great evening.

We long EURJPY at 129.00 and squared the position at 129.50 for a trading profit of 50bps or 0.38%.

We short AUDJPY at 101.90 and squared the position at 101.50 for a trading profit of 40bps or 0.39%.

We entered long AUDJPY later at 101.52 and squared the position at 101.80 for a trading profit of 28bps or 0.27%.

We short GBPJPY at 150.80 and squared the position at 150.20 for a trading profit of 60bps0.40%

Asia was US Dollar gaining ground on most currencies: –

EURUSD: Open 1.31004, High 1.3106, Low 1.3063

AUDUSD: Open 1.0515, High 1.0527, Low 1.0415

GBPUSD: Open 1.5373, High 1.5380, Low 1.5307

USDJPY: Open 98.54, HIgh 98.54, Low 97.54

If one had traded the crosses, that is, AUDJPY, EURJPY, you would have doubled the impact of the move in the underlying currencies.

5pm Singapore time; Eurozone trade balance

8:30pm Singapore time; Empire State Manufacturing

10pm Singapore time; NAHB Housing Index

This morning we saw a beautiful set up on the technicals to short EURJPY and we did at 129.

We squared the position at 127.90 for a 1.1bps or 0.86% trading profit.  The current spot has recovered slightly to 128.22.