Texas Trade Forex Report For the Week of 01-12-2013 thru 07-12-2013

Good Morning, Good Afternoon or Good Evening where ever you are in the world.This is Texas Trade Report for the week of The Week of 01-12-2013 thru  07-12-2013. I will be talking about the CAD/CHF and EUR/JPY.  The EUR/USD and GBP/USD are not my favorite pairs not do I trade. However, I do focus AUD,NZD,CAD bases pairs and do trade the Yen Crosses. The focus will be on the direction and see where the markets are heading for the week. I last focus the AUD/USD and NZD/USD and said that would before I can go into it. Here is the risk disclaimer.

Risk Disclaimer:
  Trading Forex is risky business and sometimes you will lose the money that you traded. You are leveraged 50:1 or even more. There is the risk of loss of the money have invested. Never invest money that you are not committed losing. There is a possibility of losing your original investment. If you are not sure about investing, seek the help of registered investment adviser.

Also, the purpose of this trading lesson is education. This does not constitute trading advice. Nor do I give out trading signals. All opinions are my own and not blogger.com nor Google.com.

The last week I said I though NZD/USD and AUD/USD would go down sure enough they did. Now, we had the Thanksgiving holiday. It can create weird trading conditions. It was advisable to be care during the Thanksgiving day and the day after. Now, the focus of today's report is EUR/JPY and CAD/CHF. These two currency pairs that I do trade, and both them can produce a lot volatily. For EUR/JPY  pair, this pair went over 200 pips during the Thanksgiving holiday and become extremely overbought. It should be heading lower. It traded on Friday at 139.15. Now, there are analysts saying 141.00 and 145.00. But, we have to remember that EU is not out of the water as far debt trouble are concerned. It is not 2005 when the Euro was the premiere currency and didn't have the problems in plain view. The situation has not gotten better in my view. Only shuffling paper around to make it seem better than a house with termites eating away at the foundation of the house.



The stochastics are indicating overbought on the daily,weekly,4 hour time frames. I can see this pair heading down the 135.00 area as support. It needs a healthy retracement if the pair is to continue higher. This pair is my favorite to sell  especially when it gets to levels like this. I believe it will head lower being that it is overbought. This week we have EBC interest rate decision on Thursday. There will some fireworks on it. We could possibly see this head lower since  we are back to normal trading volume.

Now onto the CAD/CHF,this pair has head lower. It may continue for a little while longer. This pair could bounce up for bit being that it is getting to bottom at a certain point. If this does bounce, the first target would be 8752 for buy order possibly. Soon this pair will go back up. It is destined for a bounce on the daily and weekly time frame.









Thing to watch are the effect of NFP would have risk trends on Friday. I believe that this pair will bounce.  Also, we have interest rate decision for the Bank of Canada on Wednesday. I won't trade until later on. I am going to be paying attention risk trends and looking for reversals in the change of the trade. This week is a good week for event risk and caution is still need at this time.Take care and good luck trading this week.  I will put out another report next Sunday. We see what happens in the markets this week.

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