EURUSD

BUY  1.0954  SL  1.0930  TP1  1.0975  TP2  1.0987

SELL  1.0916  SL  1.0940  TP1  1.0896  TP2  1.0883

EURJPY

BUY  135.78  SL  135.35  TP1  136.13  TP2  136.40

SELL  135.10  SL  135.53  TP1  134.76  TP2  134.48

USDJPY

BUY  124.06  SL  123.83  TP1  124.24  TP2  124.38

SELL  123.70  SL  123.93  TP1  123.52  TP2  123.38

GBPUSD

BUY  1.5568  SL  1.5549  TP1  1.5584  TP2  1.5596

SELL  1.5538  SL  1.5557  TP1  1.5525  TP2  1.5510

NEWS FOR THE NEXT 24 HOURS

Tue Jul 21

8:30pm AUD   MI Leading Index m/m    -0.1% 

 9:30pm AUD   CPI q/q   0.8% 0.2% 

               AUD   Trimmed Mean CPI q/q   0.6% 0.6% 

 11:05pm AUD   RBA Gov Stevens Speaks

  Wed  Jul 22

12:30am JPY   All Industries Activity m/m   -0.5% 0.1% 

 4:30am GBP   MPC Official Bank Rate Votes   0-0-9 0-0-9 

                GBP   MPC Asset Purchase Facility Votes   0-0-9 0-0-9 

 5:00am EUR   Italian Retail Sales m/m   0.1% 0.7% 

 9:00am USD   HPI m/m   0.5% 0.3% 

 10:00am USD   Existing Home Sales   5.40M 5.35M 

 10:30am USD   Crude Oil Inventories   -1.7M -4.3M

 

 

Daily Recap

Kind of an ordinary average day we just experienced.  4 wins, 3 NTs and 2 losers, both coming from our pal the GBPUSD.

Start with the USDJPY.  This pair gapped down pretty significantly at the open and immediately began moving back up right at 5 p.m. eastern.  By the time I got the signals transcribed and submitted through the various channels I use, price had already breached the Buy price (or was just a pip or two away).  If you used the EA to handle the trades, you should have gotten in 2 hours later on a Limit order when price moved down just a bit below 124.27.  But after that, it was a solid grind up through TP2 for +17.  TP1 took off +9.  I thought that would be it for the UJ but a surprise move to the downside blew through our Sell entry and continued on past TP2 as well, netting us an additional +18 (+10 for TP1).  So we netted a total of +35 on the UJ (+19 for TP1).

No real surprises on the URUSD overnight.  Price stayed within the boundaries of the two entries, coming close to the Sell by a couple of pips but not triggering any trades.  Price finally broke out of the range to the upside and moved steadily up the rest of the day, passing TP2 by 100 pips.  We got +27 on that one, with TP1 taking down +15.

EURJPY followed the same path as the EU, except it bumped up into a Buy in the second hour and then spent several hours hanging around just above the entry before finally taking off at the same time as the EU and never looking back.  TP2 was worth +34 and TP1 +19.

And then we get to the GBPUSD.  I am really starting to get sick and tired of this pair.  WE were at +96 on the day without the GBP.  With the GBP and its double loser day, it stayed inside about a 60 pip range, venturing out just long and far enough to trigger both trades before scampering back over the respective SLs. -28 x 2 = -56.

So we ended up +30 on the day and are at +74 on the week.  Because of the miserable performance last week we are at +35 on the month (basically 2 days into the second week, so no biggie).  TP1 traders made +53 but lost -56 on GBP so they ended the day at -3.

I got a couple of emails regarding the GBPUSD and whether I thought we should eliminate it from the mix.  I remind everyone that the month prior to us getting these signals going out to everyone, the GBPUSD brought down something like +670 pips on the month, which represented more than 33% of the overall profit for that month.  It’s in a slump at the moment (5+ weeks and counting) but when it wakes up we’ll be glad to knock down the +50 pip trades we see on a regular basis from the GBP.

A reminder that this week is an abysmal week for economic news (see the very short list of reports coming out over the next 24 hours).  The GBP does figure prominently into tonight’s news, so don’t be too quick to turn your back on tonight’s numbers.  But overall I am not expecting much either way, and if we can repeat today’s performance tomorrow (minus the help from the GBP) I will be a happy camper.