EURUSD

BUY  1.0651  SL  1.0631  TP1  1.0667  TP2  1.0680

SELL  1.0619  SL  1.0639  TP1  1.0603  TP2  1.0590

EURJPY

BUY  130.79  SL  130.57  TP1  130.97  TP2  131.10

SELL  130.45  SL  130.67  TP1  130.28  TP2  130.14

USDJPY

BUY  122.94  SL  122.79  TP1  123.06  TP2  123.16

SELL  122.70  SL  122.85  TP1  122.58  TP2  122.48

GBPUSD

BUY  1.5143  SL  1.5115  TP1  1.5165  TP2  1.5182

SELL  1.5099  SL  1.5127  TP1  1.5078  TP2  1.5060

CADJPY

BUY  92.06  SL  91.84  TP1  92.23  TP2  92.36

SELL  91.72  SL  91.94  TP1  91.56  TP2  91.42

NEWS OVER THE NEXT 24 HOURS

Mon Nov 23

8:35pm JPY   Flash Manufacturing PMI   52.1 52.4 

Tue Nov 24

2:00am EUR   German Final GDP q/q   0.3% 0.3% 

3:15am CHF   Employment Level

4:00am EUR   German Ifo Business Climate   108.3 108.2 

4:05am AUD   RBA Gov Stevens Speaks

5:00am GBP   Inflation Report Hearings

6:00am GBP   CBI Realized Sales   25 19 

8:30am USD   Prelim GDP q/q   2.0% 1.5% 

               USD   Goods Trade Balance   -61.8B -58.6B 

               USD   Prelim GDP Price Index q/q   1.2% 1.2% 

9:00am EUR   Belgian NBB Business Climate   -3.2 -4.0 

               USD   S&P/CS Composite-20 HPI y/y   5.2% 5.1% 

10:00am USD   CB Consumer Confidence   99.3 97.6 

                 USD Richmond Manufacturing Index   0 -1 

3:30pm CAD   Gov Council Member Patterson Speaks

DAILY RECAP

It’s definitely slowing down this week…

USDJPY leads us off with the only truly decent move of the night, as price opened moving up and stayed up the entire session, netting us a TP2 win on the Buy for +15 (+9 for TP1).  The Sell was a NT.

EURUSD fanged in between both the Buy and Sell long enough to tag both out at the SL for -31 and -31.

CADJPY did the same for -19 and -19.

EURJPY mimicked the UJ by staying up most of the session, but a rogue spike to the downside after clearing TP1 took us out at b/e prior to making the final push above TP2.  So b/e on the Buy with TP1 picking up +16.  Late in the session the Sell was triggered and price hung around both sides of the entry for most of the afternoon, so I closed it down at -5 around 1:30 or so.

The GBPUSD brings up the rear with a Buy trade that went nowhere after the trigger, so -19 on the Buy.  The Sell triggered a few hours later and eventually cleared TP2 by a hair for +26, +19 for TP1.

On the day we had two wins (15 + 26) = +41, 6 losers (31 + 31 + 19 + 19 + 19 + 5) = -124, for a net loss of -83.  TP1 picked up 3 winners (9 + 16 + 16) = +41 for a net loss of -83.

On the week we stand at -83 and on the month we slid back into the red to -10.

According to Forex Factory, the Fed released some kind of announcement at 12:35 p.m. eastern today, but for the life of me, I cannot find mention of it anywhere on the news sites I use to keep track of this nonsense.  Buy since prices didn’t go apesh, er , crazy, I have to presume the rates remain where they were at this time yesterday and all eyes remain fixed on the NFP December 4 and the Fed Meetings set for December 15-16, with the rate statement set for release at 2 p.m. on the 16^th.

So we go right back into vacation mode for the remainder of the week now that the Fed is out of the way.  Unfortunately that means a bunch of low level reports and very thin volume, which normally equates into tightly ranging prices and disastrous trades for anyone looking to make more than 10 pips on a major move.

There is nothing listed for the next 24 hours that makes me think we are going to see anything different from what we saw last night, but I will toss up all 5 pairs and see if by chance any sort of sustained movement can be generated by the three traders who are still at work this week.  If you are trading a live money account I seriously suggest you keep your money in your account and away from any trades until further notice.  Next week most everyone will be back at work and we can expect a little better trading conditions in the two weeks leading into Christmas. So there is no sense in trying to squeeze trades out of this market until next week.  That s just my opinion and you are free to what you please with your money, but even if you end up missing a good night this week the odds are you will miss more than one or two bad nights that will more than erase any good ones we might happen into.

Again, just my opinion.