US GDP, Fed, End of the Month Pumps, Trade Ideas

Aloha Everyone-

Hope everyone had a great U.S session. I am preparing for the European Session, and have a few small shorts working in the Asian Session. EUR/JPY, took a few small shorts just because the run-up was so big. Usually window dressing for the end of the month, and there could also have been a great deal of covering on the JPY pairs due the weakness as of late.

U.S GDP came in at 6.1% contraction for Q1, which makes over 6% contraction for two quarters in a row, not good.  We will see where things come in during the Fall, I think that is going to be the most important factor when it comes to judging the true potential/progress of U.S recovery.  On this power-data day, we also had the Federal Reserve acting as expected, keeping key interest rates targeted for the 0.0%-0.25% area.  The Chairman of the Federal Reserve, BenBernanke, has some serious issues coming ahead, Treasury yields continue to climb in the face of Quantitative Easing (purchasing Treasuries by the U.S, and POMO cash printing)

I see the major movements of most currency pairs over the last two days as simply end of the month pumping. If you are caught short, I truly expect you will have an opportunity to get out on the JPY pairs and USD pairs.  It will be interesting to see where things move to in May, as on Wall Street, we traditionally get the "sell in may, and go away" effect.  Tradition, however, has taken a back seat during the last two years for good reason. Should be an interesting couple of weeks.  I am looking to nibble on short side trades in the EUR/JPY, GBP/JPY, GBP/USD andUSD/JPY over the next couple of days to weeks. I will post when I get into these trades and the setups I am seeing!  Please feel free to email with any questions.... Also, If anyone is interested in one-on-one coaching for FOREX or Futures, I am open and willing to do some coaching this summer. My rates are not posted because they are negotiable, and I do not wish to ever gouge traders for wanting to learn, like SO MANY other people do. I had the blessing of being given affordable coaching, and it has been a true beacon.  
Aloha and Happy Trading!