Good morning dear traders,
I hope you had a fine weekend and your trading was great last Friday.
I can be satisfied: 2 trading days last week, 130 pips.
Question: how is it going on? I would hope upward. And you?
After a range of 1.3382 and 1.3348 in the morning there came wonderful news from UK, with some volatility into the markets.
And volitility is the nicest thing in the market, or am I wrong? Probably you will agree with me, as nothing is more boring than endless sideways ranges.
I personally do not like only up and down. There has to be some action.
After the UK news the crosspair won again with some more volatility.
The high of the day was about 1.3491. Much more than I expected.
EURUSD finished the week with about 1.3460.
EXPECTATIONS FOR TODAY´S TRADING DAY
So how will we start into the new week?
Over the night the crosspair could win a lot of volatility and started with a gap of over 100
pips into the new trading week.
In the morning the crosspair is in a range between 1.3607 and 1.3676.
According to my opinion there could be the following interesting news for today:
09:00 GMT UK Leading Indicator Index,
10:15 GMT Canada Housing Starts,
18:30 GMT USA Monthly Budget Statement,
23:01 GMT UK RICS House Price Balance.
I would see today´s trading day not as too spectacular.
TRADING CHANCES FOR TODAY
I would see trading chances for long above 1.3690 with take-profit at 1.3785-1.3810 and stop-loss at 1.3650.
For short there could be some chances below 1.3590 with take-profit 1.3500-1.3440 and stop-loss 1.3640.
I keep you informed about interesting trades at CHAT-TRADING.
TRADING TIP OF THE DAY
„Think about your style of trading.
Are you happy with it?
Do you maybe trade too often?
How many false trades do you have?
Do you over-trade, etc. ?
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I wish you all the best for your Forex trading and a good start into a new trading week
Performance April 2010: 130 pips
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