Good morning dear traders, yesterday was not my favourite trading day.

In the beginning there have been some nice trading chances in EURUSD, however later we landed in a sideways range, whereas losses have been forecasted.

I had 3 trades, with - 18 Pips.

But I´ll try to outrun those losses of yesterday.

LOOKING BACK

After a range between 1.3340 and 1.3400 the direction at approx. 7:30 GMT was southly directed. Ideal for short trades.

Later on was some undecision in the markets, due to a trading day with no news and the Greek crisis at the back of most trader´s mind.

Also GBPUSD was rather undecided, and moved between 1.5440 and 1.5485. In my eyes also GBPUSD was no market for trading.

EXPECTATIONS FOR TODAY´S TRADING DAY

What can traders expect today?

The most important news for today:

06:00 GMT - Germany - GfK Consumer Sentiment 06:00 GMT - Switzerland - UBS Consumer Indicator 08:30 GMT - UK - BBA Mortage Approvals 10:00 GMT - UK - CBI Distributive Trades Survey 13:00 GMT - USA - S&P/Case-Shiller Home Price Indices 14:00 GMT - USA - Consumer Confidence

In comparison to yesterday´s trading day there will be a lot of news which could bring some more volatility and trading chances into the markets.

TRADING CHANCES FOR TODAY
EURUSD

EURUSD gained some pips over the night.

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Today morning (4:00 GMT) the crosspair is in a range between 1.3363-1.3413.

I would see trading chances for long above 1.3430 with take-profit at 1.3475-1.3500 and stop-loss at 1.3385.

For short there could be some chances below 1.3335 with take-profit 1.3290-1.3280 and stop-loss 1.3380.

GBPUSD

GBPUSD stayed over the night in a sideways range.

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Today morning (4:00 GMT) the crosspair moves between 1.5421-1.5483.

I would see trading chances for long above 1.5505 with take-profit at 1.5550-1.5585 and stop-loss at 1.5465.

For short there could be some chances below 1.5420 with take-profit 1.5360-1.5330 and stop-loss 1.5445.

Always take care of your stop 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.

TRADING TIP OF THE DAY

„If the markets are not running as you want: Have a trading break. You cannot force the markets to anything with your trading. Do something other for that day. And think that tomorrow is also a trading day, where the markets are still existing.

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I wish you all the best for your Forex trading today and happy trading !!!

Berndt Ebner

Performance April 2010: 532 pips (11 trading days)

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.

You should trade only if you can also bear the possible trading losses. High chances of winning often oppose substantial loss rates. You should only use capital for your trading, which you do not need for everyday living. Earlier trading results are not a warranty for a future trading development. This also refers my indicated performance.

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