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LAST WEEK MY GBPUSD CLOSED IN PROFIT ONLY AUDUSD TRADE OPEN NOW

G14 OUTLOOK FOR THE WEEK 11 FEB - 16 FEB

The main events of next week are the rates announcements from the Bank of Japan and Jordan's(SNB president) speech.

EURUSD: The pair  had started a correction last week. after Mario Draghi's intervew. It has broken 1.3370 levle and inititate a sell signal. Notheless i expect  to consolidate  for the folowing days  between 1.33-1.36

EURJPY:   The pair had a drop affected by profittaking and  the fall in eurusd and usdjpy .  I expect a further decline to 120 level before  resuming again an uptrend

EURAUD: The pair is also affected by the fall in eursud. The fall may extend further but no lower that 1.28  Buliss bias remains and  i expect  it to  climb again higher

EURCHF: The pair has fall affter a rally . Nonetheless 1.2240 is a good support and i expect the currency to resume an uptrend

USDCHF:   The pair  still in consolidation with a sell bias

GBPUSD:  The pair  is in a sell mode . However last week we had a small  short squeeze which may  continue a little higher but no more than 1.60 . Expect the downtrend to resume  and new los to be made by the end of the week

USDJPY: The star of the recent weeks.  It seems that its time for a correction and it had topped iaround 94. I expect it to see lower this week.

AUDUSD: The pair has finally initiate a sell signals. I expect it see  lower this week . Target remains 1.0150-1.02 area

UPDATE ON MY OPEN TRADES -RAISING MY S/L ON GBPUSD

I will raise my s/l in my short  GBPUSD to 1.60

TRADE IDEAS FOR THIS WEEK - SELL GBPUSD , AUDUSD

1) I will sell 0.1 lot GBPUSD at opening with s/l  1.59 and t/p 1.52

UPDATE 1: Order opened on 04/02/2013 at 1.5690

UPDATE 2: Position closed  on 20/02/20123 .Profit 490 pips

2) I will place pending stop sell 0.1 lot AUSUSD order  at 1.0358  with s/l 1.0460 and t/p 1.01. The order will be active only for this week.

UPDATE : Order opened  on 06/02/2013 at 1.0358

G14 OUTLOOK FOR THE WEEK 03 FEB - 09 FEB

The main events of next week are the rates announcements from the ECB, BOE and BOA. I expect GBP to face a lot of pressure against most of the crosses. Also ECB’s interview on Thursday may be very important and initiate a long due correction to EURUSD.

EURUSD: The pair continued rising for another week establishing strongly the uptrend/ 1.338-1.40 is the next critical area. None the less is overbought and a correction before another leg up is long overdue. Remain neutral on this pair as risk rewards payoffs are not good. 

EURJPY:   The pair continued its bullish frenzy run. It has broken decisively the psychological 120,123 levels and close the week just below another critical level (127).  However a correction is long overdue and we may see it this week. If it happens it will be very sharp

EURAUD: The pair is taking advantage of the rise in euro. Bullish bias has finally been established.  The pair has started a nice uptrend and may climb very quickly to 1.40

EURCHF: The pair has finally start trading higher reaching 1.25 level. It has established a strong uptrend and it is expected to go higher testing the 1.30 level

USDCHF:   The pair failed to establish a bullish momentum due to the strong rise of the euro .As a result it gave another new fresh sell signal.  However I don’t think that there is a lot potential on the downside 

GBPUSD:  The pair had a terrible closing last Friday validating our sell signal even further. I expect to be under a lot of pressure the week ahead. Critical levels are 1.60 on the upside. On the downside 1.5660 is a major level. If this breaks then we will see the pair to go to 1.54 -1.52 area

USDJPY: The star of the recent weeks. Managed to close above 92,50 levels for a second week .A correction is long overdue but not a clear sign yet as uptrend is still very strong. Not very clear picture

AUDUSD: The pair tried this week to break the 1.0368 level but failed. It remains in a range mode and but my system shows clear signals of weakness. As a result I believe that the pair may finally break the level 1.0368 this weak and initiate a nice sell signal.

END OF JANUARY P/L REPORT [ + 245 PIPS] -NO ACTIVE TRADES

During January i took two trades.

Long AUDUSD and Long EURAUD. I got stopped out  in the first one  (-140 pips) but i was succesful in the second one (+385 pips).

My initial capital starting  2013 was  11290 . At the end of first month my overall equity is  11.535 .