Forex Thoughts

Posted on So 22 April 2007 in Forex • 1 min read

Sunday afternoon again! It's been a busy day for us today, we spent most of it outside working in our garden. Now that the day is fading fast, I'm thinking about some currency setups.

As you may or may not know, I've been using a new currency model that helps me identify strong or weak trends in the foreign exchange market. So far its been right on the money but my entries left something to be desired. After a terrible start to the week, Last week I managed to recoup all my losses for April and March using a new trading plan.  No more stops!

I hope to continue making gains this week using my new trading plan as I watch April slip away. My areas of interest this week will be EUR/USD and AUD/USD. I'm getting leery of the recent "carry trade" activity and I'm seeing a lot of flips trend UP and DOWN in the Yen. If you ask me, something's up with the Yen and it wouldn't surprise me if we saw the beginnings of a Yen appreciation.

I'm still very Bullish on the Euro and Aussie D. Hopefully I'll make some more profits this week on those pairs! I'll be entering new orders tonight!