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Develop a habit of reviewing and analyzing

Develop a habit of reviewing and analyzing your good and bad trades. Then you will have a much better sense of what will work best in your future trades.

Trading is always full of emotions

Because trading is always full of emotions, you must have a trading strategy which includes a set of rules you stick to. This will help protect you from yourself.

software which aims at predicting future trends

While there are a lot of companies who make money by selling software which aims at predicting future trends, the reality is that if this software really worked, these companies would not be giving the secret away.

Trade wisely

There are many beginners who make trades in any direction. While there is a possibility to make profits both on the upside and downside of a trade, trading in the direction of the trend will give you the best chances for success

Invest in a good Forex trading education

The market is always changing and it may be hard to understand and keep up with these changes unless you invest in a good Forex trading education

Friday, 20 July 2012

06:23       No comments

EUR/USD Still Unstable Because Of Spain Worries


EUR/USD Open 1.2274 High 1.2324 Low 1.2228 Close 1.2279
On Thursday Euro/Dollar traded within 95 pip range. The European currency depreciated from 1.2324 to 1.2228 yesterday, matching the negative money flow sentiment at almost -6%, closing the day at 1.2279. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the downward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.2324 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2228, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2112.
Today's focus is on Germany PPI at 6 GMT.
Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.2324 1.2440 1.2564
Technical support levels: 1.2228 1.2112 1.1990
Yesterday we made +13 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:16 GMT+1 Sell EUR/USD at 1.2290 SL 1.2316 TP 1.2240, exit sent at 6:20 GMT+1.
Total yesterday +76, as shown at http://www.zifx.com/performance-past.php.

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