Swiss Cuts Interest Rate

The swiss interest rate was cut at an unscheduled meeting and has caused the CHF to plunged with Euro/CHF taking almost 250 pips up. I closed my lot earlier than expected and would have probably made a neat and nice profit instead of a negative 30 pips. Tough luck.

Source : http://www.xe.com/news/2011/08/03/2070973.htm?utm_source=RSS&utm_medium=TL&utm_content=NOGEO&utm_campaign=News_RSS_Art1

I wanted to open a long at 1.0960 but didn't had the guts. I can only knock myself in the head because it rose by 100 over pips in mere minutes after I went off my desk to take some stuffs from the car. Must definitely been a good day for anyone trading against the Euro and Swiss francs.
On a fundamentals sidenote, the soaring Spanish and Italian bonds will yield weight on the Euro. We can also see that the Euro has been consistently following the direction of the gold and with intervention from the Swiss, will the bulls come for the EUR/USD again? Not quite, because the Swiss probably won't want to acquire any of the major currencies but GOLD! However, the retail news for EU will be out soon and I won't be trading on it. Will wait till U.S data tonight.

Thanks.

[01.08.2011] Nikkei - JAPAN PREPARES FOR CURRENCY INTERVENTION

Been a landslide for the euro the whole day especially after the U.S data just now. Retracement for the Euro should be done at 1.4240 area and I'll advise a sell. Meanwhile there has been rumors that Japan are preparing for intervention. It can either be acquiring Euros or the Dollar but my spider sense has prompt me to go in for the USD/JPY with a tight SL.

Trade Plan :
Sell Eur/USD @ 1.4240.
Buy USD/JPY @ 77.09

Will Super Heroes be there to save America on 2nd August?

Will the real superman please stand up. America needs you now to assure the world that there will be no default on dooms day. Even if the United States can escape a default (which I'm 90% sure they could), a downgrade of its AAA credit rating seems inevitable. I have put together a few scenarios that will happen and the consequences or favors that will impact the nation and the dollar. All these are based on my analysis and at the end I will even pick the most likely scenario that we will be seeing.

[Trading The News] U.S GDP Advance GDP q\q on 29/07/2011

The U.S Advance GDP q\q data is one of the most important piece of data as it has a signficant impact on the forex market and how the market will move with it. The forecast for the GDP is as follows :

U.S Advance GDP q\q
Forecast : 1.9%
Previous : 3.9%

I will be looking at a deviation of > 0.4% before my trade would be entered. Therefore, if we get a figure of 1.5% and below, we will be looking to buy EUR/USD with a TP of more than 100 pips (your choice here). If the numbers looks good, > 2.3 , a SELL option would be your only choice. However, we would be looking into other pairs for sell options (GBP,JPY) rather than the Euro for the best bang for pips.