May 1st, 2015 - Issue #785
In This Issue
1. Euro Currency - Reversal or "Relief Bounce"?
2. How Should We As Traders Confront Risk?
3. Economic Calendar
1. Euro Currency - Reversal or "Relief Bounce"?
by Ilan Levy-Mayer, Cannon Trading VP featured on forexmagnates.com
May 1st, 2015
The strength in USD over this past 6 months had created one of the best trend following trades this past year.
Longer term traders who were long dollar index and/ or short the Euro, Canadian, Australian dollar to name a few and had the PATIENCE and discipline to stay in the trade should have benefited nicely. However, things are always easier in hindsight.... and today we are looking at a real time, live example of decisions traders must make without the benefit of the 20/20 hindsight vision - Is the current bounce in the Euro and the current sell off in the Dollar index signaling a trend reversal or just a relief rally from all the shorts who are covering positions?
The real longer term answer will lie in a careful analysis of the fundamental picture behind the currency market.
To read more, follow this link!
Euro Currency Reversal or Relief Bounce
2. How Should We As Traders Confront Risk?
Risk, it is a four letter word. As traders it is something that we thrive on and dread. We chase and fear. We look for and look to avoid. It is RISK. Without it, there is no opportunity for profit. Without it trading lacks potential. With it, failure and heartache are the consequences when it is abused.
Risk itself is not a bad thing. When it is misused by traders, it becomes a problem. Controlled risk presents traders with exciting and profitable opportunities. Uncontrolled, it brings the end to the dreams and careers of many traders.
How should we as traders confront risk?....
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3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates | 05/04 Mon |
9:00 AM CDT - Factory Orders(Mar) | FN: May RBOB & ULSD(NYM) |
| 05/05 Tues |
7:30 AM CDT - Trade Balance(Mar) 9:00 AM CDT - ISM Services(Apr) |
|
| 05/06 Wed |
6:00 AM CST - MBA Mortgage Purchase Index 7:30 AM CST - Building Permits & Housing Starts(Jan) 7:30 AM CST - Core PPI & PPI(Jan) 8:15 AM CST - Capacity Util & Industrial Prod(Jan) 1:00 PM CST - FOMC Minutes |
LT: May Cotton(ICE) |
| 05/07 Thurs |
6:30 AM CDT - Challenger Job Cuts(Apr) 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 2:00 PM CDT - Consumer Credit(Mar) 3:30 PM CDT - Money Supply |
|
| 05/08 Fri |
7:30 AM CDT - Ave Workweek & Hourly Earnings(Apr) 7:30 AM CDT - Nonfarm Payrolls(Apr) 7:30 AM CDT - Unemployment Rate(Apr) 9:00 AM CDT - Wholesale Inventories(Mar) |
LT: May Orange Juice(ICE) May Canadian Dollar Options(CME) May Currencies Options(CME) May US Dollar Index Options(ICE) Jun Coffee Options(ICE) |
| 05/11 Mon |
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
