October 10, 2011 Forex Trade Signals

Once again, financial news has drastically altered the investor sentiment and sent the prices on an erratic shift. The Euro (1.3640) rallied sharply against its US counterpart overnight after France and Germany pledged to deliver a plan to support the region’s banks. German Chancellor Angela Merkel and French President Nicolas Sarkozy said in Berlin late on the weekend they have set themselves three weeks to devise a plan to recapitalise banks and find a “durable” solution for Greece’s debt situation. The greenback weakened against several of its major rivals as investors took on board risk and commodity currencies rallied as prices for raw materials moved higher overnight. The 17-nation currency rallied over 2 per cent last night hitting a 12-day high of 1.3697. Meanwhile, the Japanese Yen is little-changed at 76.60 per US Dollar.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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New Orders

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