Good morning dear traders, and again one trading day went to an end. However, I was not really satisfied with it.

LOOKING BACK

After a range between 1.3400 and 1.3440 in the morning, there was some short movement of EURUSD into souther regions (1.3358). That was the right moment for short traders. In the evening the course moved into the direction of 1.3400.

At 8:30 GMT I had some eye to GBPUSD where I had a nice short trade starting from 1.5416 to 1.5397 with 19 pips.

I had 3 further trades. Summary of the day: 28 pips.

EXPECTATIONS FOR TODAY´S TRADING DAY

Which news are interesting for today?

The most important news for today:

06:15 GMT - Switzerland - Trade balance 07:30 GMT - Germany - Purchasing Manager Index 08:00 GMT - European Currency Union - Purchasing Manager Index 08:30 GMT - UK - Public Sector Net Borrowing 08:30 GMT - UK - Retail Sales 09:00 GMT - UK - CBI Industrial Trends 12:30 GMT - US - Producer Price Index 14:00 GMT - US - Existing Home Sales

Wow, a lot of news today. So there could be some volatility in the markets according to my expectations.

TRADING CHANCES FOR TODAY
EURUSD

Over the night the crosspair stayed in a sideways range.

width=450 Today morning (4:00 GMT) the crosspair is in a range between 1.3370-1.3396.

I would see trading chances for long above 1,3414 with take-profit at 1.3450-1.3475 and stop-loss at 1.3390.

For short there could be some chances below 1,3360 with take-profit 1.3300-1.3280 and stop-loss 1.3380.

GBPUSD

GBPUSD has at the moment a range between 1.5400-1.5430. width=450 Due to the interesting news from UK there could be again some nice trading chances today.

Breakouts for long could be possible beyond 1.5435 with SL 1.5410 and TP at 1.5460-1.5480.

Short possibilities could be possible beyond 1,5390, TP at 1.5350-1.5330 and SL 1.5415.

Always take care of your stop management.

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TRADING TIP OF THE DAY

„How strictly do you follow your trading system? Are you cheating from time to time? Or are you following your system? Observe yourself from time to time more exactly during your trading. Write what you find out. I wish you all the best for your Forex trading today and good trades

Berndt Ebner Performance April 2010: 448 pips (8 trading days)

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