Good morning dear traders,

do you know the answer to this question???

I don´t. I do not have a glass sphere where I can look into the future.

However, I did not trade yesterday. My trading dropped in some way „into the water.

The simple reason for that was that EUR/USD was too much in a „sideways range according to my opinion.

Performance of the day: 0 pips.

But you can also see it as a creative trading pause.

LOOKING BACK

After a sideways range in the morning between 1.3283 and 1.3347 the cross-pair broke out into the direction of „northern regions, but nothing more.

This was not a trading day as I expected before.

Alltogether the cross-pair recovered of its blessures.

Supported by political announcements of financial help for Greece of the EU.

In the evening EURUSD reached about 1.3280.

EXPECTATIONS FOR TODAY´S TRADING DAY

What can we traders expect for today?

Over the night remained the consolidation from yesterday.

In the morning the cross-pair is in a range between 1.3270 and 1.3340.

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EURUSD - what is coming next ???

Today at 9:30 GMT there are some news of UK, which are rather not relevant.

However, some action could happen to the markets at about 12:30 GMT with the Cross Domestic Product of the USA and the Real Personal Consumption Expenditures.

Further at 13:55 GMT with the Reuters/Michigan Consumer Sentiment Index.

But let you be surprised what today´s trading day will bring.

TRADING CHANCES FOR TODAY

I would expect trading chances for long above 1.3370 with take-profit at 1.3430 and SL at 1.3340.

For short I would expect chances below 1.3255 with take-profit at 1.3220 and SL at 1.3290.

I´ll keep you informed about interesting trades as usual during the day at www.chat-trading.com.

TRADING TIP OF THE DAY

Stop sometimes your trading - as I did yesterday.

If there are no trading chances - so why should you trade???

Think about your trading - think about your losses of the last days

or celebrate your successes of the day before.

If you do not trade for one or more days

this can help you very much to think about your trading

„QUESTIONS TO THE COACH

Use today between 9:30 and 10:00 GMT my free trader coaching at http://www.chat-trading.com. I´m looking forward to your coming.

I wish you all the best for your Forex trading and a happy weekend

Berndt Ebner
http://www.trader-coachings.com

Performance March 2010: 1219 Pips