EoM Report

Brought forward: 289.65
Forecast estimate: 318.61
Actual: 313.34
Percentage gain/loss: +8.17%

August forecast estimate: 344.67

AUDUSD trade 300715

Order: pending sell stop
Instrument: AUDUSD
Entry: 0.72720
SL: 0.73720
TP: 0.70520
APP: yes
R/R ratio: 1:2.1
Signal: further Bearish sentiment/major support around 0.70000.

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Trade activated 2108 AEST.

SL taken out: -13.63

Currency conversion

In the world of forex currencies as we know, are all traded in pairs, with the 'base' currency always appearing first as  we can see in the EURUSD chart example below. Naturally enough it is irrelevant which pair we use for demonstration purposes since the same applies for all monetary pairs.

As we can see here the EURUSD chart is telling us that:

1 Euro = 1.09678 U.S. Dollars

But what is the opposite? What is a Euro worth if the U.S. Dollar had been the base currency?  The answer is to simply divide the Euro by the Dollar. As in:

1.09678/1 thus giving you:

1 U.S. Dollar = 0.91175 Euros rounded to the same 5 decimal places after the point.

GBPUSD trade 280715

Order: pending buy stop
Instrument: GBPUSD
Entry: 1.56045
SL: 1.55045
TP: 1.58245
APP: yes
R/R ratio: 1:2.1
Signal: Bullish rebound from support/increase in institutional sentiment to the upside.

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Closed at market: +0.12

Comment: Yesterday PA surged upward to 80 pips above the entry within the European session but when the U.S. Session got happening the cable was slamdunked back down. Will setup another pending buy stop as I need further evidence of the cables strength if there is to be any.

AUDUSD trade 090715

Order: pending sell stop
Instrument: AUDUSD
Entry: 0.73987
SL: 0.74987
TP: 0.7000
APP: yes
R/R ratio: 1:4.98
Signal: Bearish sentiment/0.70000 support area pending.

Comments: closed prior order at market in anticipation that positive job figures may cause a temporary reversal and threaten my sl. With China not looking good right now the conservative action I though was to reset another pending short trade just in case.

SL taken out: +6.35

AUDUSD trade 060715

Order: pending sell stop
Instrument: AUDUSD
Entry: 0.74517
SL: 0.75517
TP: 0.60000
APP: yes
R/R ratio: 68:57.1
Signal: Head and shoulder formation on MN/Aussie Dollar collapse with major support at 0.60000.

Comment: This is definitely going to be a long term trade.

Closed at market: +1.84

GBPJPY trade 030715

Order: pending Sell Stop
Instrument: GBPJPY
Entry: 191.297
SL: 192.297
TP: 189.097
APP: yes
R/R ratio: 1:2.1
Signal: sentiment changing to the bearish side/prior support at 190.000 area.

Closed at market: +17.19

Comments: Market dropped once more at start of week trade no doubt due to a NO result in the Greek referendum. 

EoM Report

Brought forward: 327.10
Forecast estimate: 359.81
Actual: 289.65
Percentage gain/loss: -11.44%

July forecast estimate: 318.61