dingo.forex

Consolidation followed by a breakout is always a wonderful sight to behold. I was downstairs watching a movie when my juice alert went off. I took a long GBP/USD from 9531 out of the consolidation with juice and it went sky high. As I type this the GBP is actually 160 pips up from the open. Amazing! Just shows you never know with forex, here we are in the holiday slump mode and out of nowhere we catch a move like this. I exited my trade a bit prematurely at the H5 cam line, as the price then continued up to the +1.50% fib level and stalled. It could potentially move higher, but I don't plan to risk it. We have Canadian CPI in a couple hours and US PPI and Housing following shortly thereafter. And then later this afternoon we have current account on NZD. I don't often trade the NZD but this report is one of the strongest, if not the strongest report for this currency. It only comes quarterly and when it came in September we saw a move of over 50 pips. So hopefully I'll catch a nice trade off of that as well. But nothing else for now. I think I'll try and catch a couple hours sleep before the CAD news.

UPDATE(9:08am): Canadian core CPI came out at 0.3 on a 0.2 expected. Not nearly enough to give us the volatility for a sell on USD/CAD. PPI and housing numbers are out now, and the PPI alone is astonishingly good for the dollar at 2.0%. Unfortunately the European currencies are holding on for now and aren't relinquishing their hold over the dollar today. I did take a short on this, but ended up getting stopped out at break even. Sidelined for now.
UPDATE(5:30pm): NZD current account news came out at -4.6B which was better than expected and caused a good move north on the NZD/USD. Unfortunately the spread was at 15 by the time I decided I wanted in. So no trade for me. Thats all till tomorrow.

• LONG GBP/USD for +92
• SHORT EUR/USD for +0 (stopped out)