Dear traders, is EURUSD „damped???

I do not believe.

If I watch the EURUSD on weekly basis I am of the opinion that there is still some potential for going more southly.

What about 1.1600? Further drawdowns not excluded.

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Profit of the day: 76 pips

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LOOKING BACK

There have not been overwhelming news today. Although there have been positive news from Europe and Germany, EURUSD stayed in a sideways range.

Cable was more optimistic. But was going into the knees in the afternoon after rather unspectacular news from Wallstreet.

EXPECTATIONS FOR TODAY´S TRADING DAY

Here the most important news for today (all times in GMT):

At 5:45 Switzerland is starting with its unemployment rate, followed by Germany at 6:00 with its trading balance. Followed by Switzerland with the consumer price index at 7:15. At 10:00 GMT Germany is publishing its industrial production. In the afternoon Canada is publishing the housing starts. From the USA come rather unspectacular news.

TRADING CHANCES FOR TODAY

EURUSD width=480

EURUSD stayed over night in a sideways range.

Long @ 1,2005 Take-Profit @1.2065-85 Stopp-Loss @ 1.1965

Short @ 1.1895 Take-Profit @ 1.1840-30 Stopp-Loss @ 1.1935

GBPUSD width=480 GBPUSD has a sideways range too.

Long @ 1.4525 Take-Profit @ 1.4565-90 Stopp-Loss @ 1.4495

Short @ 1.4445 Take-Profit @ 1.4405-1.4385 Stopp-Loss @ 1.4475

Always take care of your stop management and consider your money and risk management.

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All the best for your trading today

Berndt Ebner - www.trader-coachings.com

Performance June 2010: 342 pips (5 trading days)

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