Best Forex Trading Signals
The market continues to whipsaw around, up and down, mainly due to fundamental and sentiment reasoning. As various news reports come out daily, investors are still caught up in massive erratic changes trying to keep up on the news. This month has been difficult for technical traders for that reason. As this month closes out, we look toward next month which should start seeing some flattening out of the erratic news trading that permeated the month of September.
US Stocks Rose with the S&P 500 gaining 0.8 percent following two excellent sets of number out of the US overnight. Driving markets into positive territory yesterday US Gross Domestic Product exceeded expectation as the US economy grew at an estimated pace of 1.3 percent for the second quarter against a forecasted figure of 1.2 Percent. In further positive news out the US Unemployment Claims also unexpectedly fell, fuelling optimism that the US economy is finally starting to overcome its recent stagnation. Off the back of such results the US Currency advanced against the Japanese Yen, opening stronger this morning at rate of 76.784. With strong US Data providing a surprise boost to global markets, the decision by German Lawmakers to vote on an expanded European bailout fund had minimum impact. In what proved to be a relatively subdued session in comparison to the recent volatilities the EURO traded between a 24 hour range of (1.3519 – 1.3678) as it opens slightly stronger against its US Counterpart at a rate of 1.3587.
We realize there is only one trading day left in the month of September for us to pull out our trading and turn the gains to the profit size. However, that does not mean we are going to jump into trades just for the sake of trading. However, we do see some nice potential trades on many of the pairs today, but close trailing stops will need to be used.
This month has been extraordinarily difficult to trade in technically, as daily financial reports from around the world has turned the currency market into a roller coaster ride. While this month was a fantastic month for day trading and scalpers, longer term trend trading has suffered greatly.
That being said, we are still going to trade, and we still want to turn this month into the positive gains zone, but we are not going to take any additional excessive risks.
Now, on to our open positions and new trades. Lets take a look at the specifics:
Open Orders
[Content protected for Premium members only]
New Orders
[Content protected for Premium members only]
More Like This:
If you enjoyed this article, please consider sharing it!
