Good morning dear traders,
my favourite crosspair EUR/USD had yesterday some strength again - it did not go into the knees as I did expect in the morning.

I rather thought that the gap from Friday evening to Sunday evening of more than 100 pips would close. And this gap was something special as I did not see such a large gap for a long time in EURUSD. I´m still invested in one trade with EURUSD short at 1.3590.

At the moment 5:15 GMT I have 14 pips profit with a very small stopp at 1.3600.

LOOKING BACK

After a range of 1.3608 and 1.3676 in the morning the crosspair moved over 1.3676 into the direction of 1.3692. After this high of the day, there was only a downward movement, where the course reached about 1.3580 in the evening.

EXPECTATIONS FOR TODAY´S TRADING DAY

So what will happend this morning at the Forex markets?

Over the night the crosspair reached a sideways range between 1.3600 and 1.3568.

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The most important news for today:

06:00 GMT Germany - Consumer Price Index,
08:30 GMT UK - Trade Balance (very important news - also look for GBPUSD),
12:30 GMT USA - Import Price Index and Trade Balance (the later one could bring some nice volatility into the market).

According to my opinion there could be some volatility, especially in the afternoon.

TRADING CHANCES FOR TODAY

I would see trading chances for long above 1.3615 with take-profit at 1.3655-1.3700 and stop-loss at 1.3590.

For short there could be some chances below 1.3560 with take-profit 1.3500-1.3460 and stop-loss 1.3580.

I keep you informed about interesting trades at http://www.chat-trading.com>CHAT-TRADING.

TRADING TIP OF THE DAY

„Please do not sit all the day in front of your computer, when you trade.
In my eyes this is not necessary.
I often set my trades in the morning into my trading platform and want to be later stopped in.
Of course, it is important for you to look for your money and risk management and that you have set your stops.

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I wish you all the best for your Forex trading and Happy Trading

Berndt Ebner
Performance April 2010: 130 pips

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.

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