The first two trades of the day were both sell limit orders I had left in place overnight. They get hit at the start of the London session.

Trade 1
Short EUR/USD
Entry: 1.3658
Exit: 1.3640
Pips: +18

Trade 2
Short GBP/USD
Entry: 1.7625
Exit: 1.7613
Pips: +12

Trade 3
Short EUR/JPY
Entry: 136.307
Exit: 136.193
Pips: +11.4

Trade 4
Short EUR/JPY
Entry: 136.526
Exit: 136.41
Pips: +11.6

Trade 5
Buy EUR/USD
Entry: 1.3689
Exit: 1.3695
Pips: +6

On my second GBP/USD trade of the day I hit the close button when I was 5 pips in profit. Unfortunately I was filled for a one pip loss. The markets were certainly moving today and it was very common to see multiple pip moves all over the place.

Trade 6
Short GBP/USD
Entry: 1.7312
Exit: 1.7313
Pips: -1

Trade 7
Short EUR/JPY
Entry: 136.289
Exit: 136.198
Pips: +9.1

Trade 8
Short GBP/USD
Entry: 1.7304
Exit: 1.7293
Pips: +11

Trade 9
Short EUR/USD
Entry: 1.3725
Exit: 1.3715
Pips: +10

Daily total: +88.1 pips

Today’s coordinated rate cut by the Fed, ECB, BOE and Swiss central bank resulted in a slightly positive bias for the euro over the early part of the day. Dollar strength returned after lunch during the New York session and it will be interesting to see if it picks up more or if we get a decent euro rally of some sort.

Sterling got crushed today as the British government partially nationalised all its big banks.

All three EUR/JPY trades today were continuation plays. The first and third trades were based on price gunning for 136.00, while the second was when price was looking to test 136.50. Yen strength is very much in play, although USD/JPY is tightly wound around the 100 handle for now.