Best Forex Trading Signals
The way that traders reacted to Monday’s sharp sell-off in the EUR USD makes this currency pair the key market to watch today. What could’ve been a “gap n’ go” trading day actually turned out better than originally expected based on the selling pressure early in the trading session. This is a sign that perhaps the buying is stronger than the selling at current price levels. Rather than guess that the market is attempting to form a secondary higher bottom, the safest trade is to buy strength when the daily trend turns back to up. Based on the current short-term range and swing chart, a trade through 1.3934 will turn the main trend to up with a potential upside target of 1.4021 to 1.4146. A failure to generate enough upside momentum to turn the main trend higher means the Euro is destined for further downside action.
We realize that our trading has been quite weak this month so far. The primary reasons for that is because of the highly erratic moves, fundamental news reactions, and the financial issues in the EU. These items have combined to make technical analysis much more difficult, especially with the almost daily swaps in investor sentiment and market direction. Fortunately, this will also provide us with excellent opportunities when the right situations present themselves.
Now, on to our open positions and new trades. Lets take a look at the specifics:
Open Orders
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New Orders
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