THIS IS THE MORNING EDITION OF MY DAILY TRADING SIGNALS - PUBLISHED 5 GMT
Good morning dear traders,
I hope you relaxed during the weekend and are fit for the new trading week.
I had some goods trades on Friday - however I´m not a Friday trader.
Yesterday I did not trade due to Whit Monday.
Profit of the day: 32 pips
After a strong movement over Friday night and in the morning EURUSD lost some ground after not overwhelming news from Europe and UK. After weak opening at the Wallstreet the crosspair reached about 1.2565. On Monday the crosspair lost again due to bad news concerning spanish banks.
Also GBPUSD did not find any direction on Friday and yesterday.
EXPECTATIONS FOR TODAY´S TRADING DAY
What news might be interesting this Tuesday.
Here the most important news for today (all times in GMT):
06:00 Switzerland - UBS Consumption Indicator 08:30 UK - Gross Domestic Product 09:00 European Currency Union - Industrial New Orders 13:00 USA - S&P/Case-Shiller Home Price Indices 14:00 USA - Richmond Fed Manufacturing Index
TRADING CHANCES FOR TODAY
EURUSD kept its downward trend over night.
Long @ 1,2375 Take-Profit @1.2445-70 Stopp-Loss @ 1.2330
Short @ 1.2265 Take-Profit @ 1.2205-1,2175 Stopp-Loss @ 1.2305
For GBPUSD there was a similar picture over night.
Long @ 1.4430 Take-Profit @ 1.4490-1.4515 Stopp-Loss @ 1.4385
Short @ 1.4315 Take-Profit @ 1.4255-30 Stopp-Loss @ 1.4365
Always take care of your stop management and consider your money and risk management.
TRADING TIP OF THE DAY
„And? Did you evaluate your trades last Friday or over the weekend? Believe me, it can improve your trading if you study your trades and find out why you had a winner or loser. Think about it.
I wish you a perfect start into the new trading week. All the best
Performance May 2010: 1371 pips (15 trading days)
P.S: Come to my next Forex seminar in Munich and to the Octoberfest. More infos at www.trader-coachings.com
RISK AND EARNINGS DISCLAIMER Any kind of trading (Forex, shares, Futures.) exhibits a high risk, which can lead to the total loss of your capital investment. Always be aware of this.
You should trade only if you can also bear the possible trading losses. High chances of winning often oppose substantial loss rates. You should only use capital for your trading, which you do not need for everyday living. Earlier trading results are not a warranty for a future trading development. This also refers my indicated performance.
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