Good morning dear traders,
how was your yesterday´s trading day? Did you make some pips?
I want to be honest to you - it was not the trading day I wished.
Two trades - total profit: + 1 Pip :((
After a range in the morning between 1.3417 and 1.3452 there was some growing into the direction of 1.3490 with a false break-out and for the rest of the day a sideways range.
Reason for that might have been yesterdays not overwhelming news.
EXPECTATIONS FOR TODAY´S TRADING DAY
So what can we trader expect for today?
Over the night the pair stayed in a sideways range.
In the morning the crosspair is in a range between 1.3469 and 1.3495.
If you get up early you can see at 6 GMT news from Germany (Import Price Index) and Switzerland (UBS Consumption Indicator), whereas the last one seems interesting for me.
At 8:30 GMT there is published the Current Account of UK, which also can increase volatility.
You can have one eye to GBPUSD for example.
At 13 and 14 GMT S&P/Case-Shiller Home Price Indices and Consumer Confidence of the US are published, whereas the last one can also bring some volatility to the markets.
TRADING CHANCES FOR TODAY
I would see trading chances for long above 1.3510 with take-profit at 1.3560 and stop-loss at 1.3480.
For short there could be some chances below 1.3450 with take-profit 1.3380 and stop-loss
I keep you informed about interesting trades at http://www.chat-trading.com
TRADING TIP OF THE DAY
„Trade from time to time in a demo-account
and test new trading strategies.“
I wish you all the best for your Forex trading and Happy Trading!!!
Performance March 2010: 1255Pips