Good morning dear traders,
I hope, you had yesterday a good start into the new trading week.
The downward trend of last week continued, although EURUSD could win during the day a little bit towards 1.3473.
Yesterday I had 3 trades with 42 pips.
After a range of 1.3445 and 1.3500 the crosspair lost at 9 GMT for some time into the direction of 1.3416.
One reason might have been the weak numbers of the European Currency Union.
Later on at 13 GMT, the crosspair could win again but did not go beyond the 1.3475 resistance.
EXPECTATIONS FOR TODAY´S TRADING DAY
Which news are interesting today?
The most important news for today:
06:00 GMT - Germany - Producer Price Index 08:00 GMT - European Currency Union - Current Account 08:30 GMT - Germany - ZEW - Economic Sentiment 13:00 GMT - Canada - Interest Rate Decision of the BoC
As you can see there are some very interesting news where I will also have an eye into the direction of GBPUSD or USDCAD for example.
TRADING CHANCES FOR TODAY
Over the night EURUSD the crosspair could win some new strength.
Today morning (4:45 GMT) the crosspair is in a range between 1.3465 and 1.3500.
I would see trading chances for long above 1.3510 with take-profit at 1.3575-1.3600 and stop-loss at 1.3490.
For short there could be some chances below 1.3460 with take-profit 1.3425-1.3350 and stop-loss 1.3480.
Always take care of your stop management.
TRADING TIP OF THE DAY
„Invest in your trader education. Think that you will always have to learn when trading. As the markets change, you have to adapt your trading to the markets. Buy good books, attend to seminars and have your personal trader coaching.
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I wish you all the best for your Forex trading today and good trades
Performance April 2010: 368 pips (6 trading days)
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