Monday October 16th Start of a good Week

Hello Forex traders,


I hope you had a good weekend.

I am still in the NZD/USD short trade. I am still up a little bit, though it has moved against me a bit today. Conservative play would be to put the stop at breakeven but I am going to wait it out and see if it closes above .6620ish first. It still offers good risk/reward and I made some good pips with the GBP/AUD divergence trade last week I got some pips to play with.
If the NZD/USD breaks .6540 it should move easily to .6500 and hopefully to my target in the .6470 range.

As far as today's trading historically the following currencies have done well with LazyTrading.com Software on Monday's.

USD/CAD
GBP/AUD
GBP/USD

I am looking for a good week this week in the forex market. Hopefully you can be part of that with us.

Have a great trading day.

Steve Hoven
alleycatnews@alleycatnews.net

http://www.LazyTrading.com