THIS IS THE MORNING EDITION OF MY DAILY TRADING SIGNALS - PUBLISHED 5 GMT
Good morning dear traders, EURUSD kept its strength and did not leave the morning range until 6:27 GMT when news of the FED according to EU policy and bad news from Wallstreet were published.
However, GBPUSD moved in another way and lost steadily.
Nethertheless there have been good trading chances.
My result of the day: 95 pips.
Good news from Germany might have been the reason for an increasing course in EURUSD. Later the crosspair lost some pips and got some new strenght in the afternoon with bad news from USA. In GBPUSD there was another picture as the crosspair steadily lost due to relatively unspectacular news from UK.
EXPECTATIONS FOR TODAY´S TRADING DAY
What news might be interesting this Friday.
Here the most important news for today (all times in GMT):
06:00 Germany – Cross Domestic Product 07:30 Germany – Purchasing Manager Index 08:00 Germany – IFO Business Climate 08:30 UK – Public Sector Net Borrowing 11:00 & 12:30 Canada with several news (I will also look to USDCAD ;-))
TRADING CHANCES FOR TODAY
EURUSD gained a lot of pips over night. News this morning from Japan brought new wind into the market as the economic downward trend seems to be soon over.
Long @ 1,2710 Take-Profit @1.2800-40 Stopp-Loss @ 1.2620
Short @ 1.2430 Take-Profit @ 1.2330-00 Stopp-Loss @ 1.2520
GBPUSD had a different picture but could also tremendously win more strength this morning.
Long @ 1.4495 Take-Profit @ 1.4580-1.4620 Stopp-Loss @ 1.4420
Short @ 1.4295 Take-Profit @ 1.4230-00 Stopp-Loss @ 1.4360
Always take care of your stop management and consider your money and risk management.
As a subscriber of my daily trading signals you can follow my live-trades in the premium area of http://www.chat-trading.com for free. Only register for free and you will have a 3 days free trial.
TRADING TIP OF THE DAY
„Always look to the whole picture of the market in a larger time-scale. Firstly, you should study the charts in a higher time-scale, e.g. 1 hour, and then you should decide if trades on a smaller time-scale, e.g. 15 min, are possible. I would recommend you to trade on higher time-scales in order to prevent false breakouts, etc.“
All the best for your trading today and a nice weekend. You will receive my next trading signals due to holidays here on Tuesday next week. All the best
Berndt Ebner - Coaching - Live-Trading - Tradingroom -Education for traders
Performance May 2010: 1339 pips (14 trading days)
P.S: Come to my next Forex seminar in Munich and to the Octoberfest. More infos at www.trader-coaching.com
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