Currency Update – 5 Trades Correct Last Week, What Does This Week Hold
With our currency update last week we had some great trades and while we were right, we also know that if we were wrong, our risk was small for all trades entered. We have had some fantastic profits last week but that’s the past, let’s look at the currencies this week and what we think will happen. Our view last week was the longer term trend in the dollar was down and we would see this continue after, what was a good correction to the upside and we were proved correct. As we said last week always look at the weekly chart to get the overall trend and the daily chart to time your entry. Let’s look at the majors and what lays in store this week and roundup last weeks action. US Dollar Index The correction ended dramatically and the dollar index is falling towards its lows. The double bottom at the lows is the target and a decisive break of these will see further weakness. Traders should focus on getting in on this move on a bounce to the mid Bollinger band or a punch through the lows and a breakout to the downside. This market looks very weak so this is the way to focus. British Pound All trends are up hold longs. No entry at current levels as stochastics look very over bought. We will look at a dip to enter but for now no entry point, if you are in enjoy the ride. Euro A great move up last week. All trends are up and an advance to the highs is on after the currency punched through the mid Bollinger band. a Break of the highs will see a far bigger advance. Again same as pound no entry. Yen This currency long term trend is down (in contrast to the ones above on the weekly chart) and we have had a strong correction up to the 8800 level, this is the mid Bollinger band on the daily chart and also resistance on the weekly chart and if prices stall here we should see the yen retreat but odds are not clear just yet, what will happen. If the yen cannot move strongly early next week look for a retreat back to the lows but wait for confirmation and a downturn on the stochastics ie a crossing with bearish divergence. The commodity currencies We all know that the commodity markets are booming and the Canadian and Australian Dollar can help you take advantage. This week we will also look at the Australian Dollar as well as the Canadian dollar we looked at last week Australian Dollar The weekly chart shows a close over the mid bollnger band and the daily chart shows strength buy dip to the mid bollinger band or breakoput of the 7600 level. This currency should become a big bull market in the near future. Canadian dollar The lager of the all the positions we looked at last week. We are long but we could have a test of our entry at the double or triple bottom after Friday’s action. If you are looking to get in this is the area to target at present. The long term trend is firmly up on the weekly chart and this market should remain bullish for the foreseeable future. Keep in mind! Markets change quickly and this is snapshot of what we think before Mondays open. Keep in mind when trading these currencies: 1. Focus on the long term trend 2. Only enter at areas of clear risk reward and ALWAYS check short term momentum with the stochastic indicator ( ie its in your favor ) before trading either long or short. Always look out for stochastic crossovers with bullish or bearish divergence before entering 3. Set your stop in advance 4. Use at or in the money options for protection against volatile moves 5. Use chart support and resistance with bollinger bands to establish areas of entry. The tolls above are simple as is the logic: Trade with the long term trend, bollinger bands and chart support and resistance to establish potential entry points and use stochastics to time entry. These tools work in any market We used these tools last week in currencies successfully and if you follow our other reports we also used them in unleaded gas, crude oil and copper for huge gains - they work in any trending market. keep it simple for huge profits Yes their simple but you can make huge profits as our recent updates show and keeping it simple is the way to go in trading, most traders think the clever they are with their method and the more complicated it is the more success they will have, but this is simply not true. Keep it simple trade with the odds and it will elad you to big gains!
Other Trading Tips Articles
What is Link Trading and How Do You Trade? Link trading is the task of getting links to your site on other sites by trading.. umm.. links. This is done to get more traffic to you web site. Link trading creates more traffic in two main ways, increased search engine rankings and also from the traffic the links themselves generate from people clicking on them.Link Trading and Search ...Here Come the Chinese Will They Run the World?My main interest in China in my childhood years was the Flying Tigers. (Go to: http://www.flyingtigersavg.com/tiger1.htm to learn about the Flying Tigers at their official site.) Retired Air Force Captain Clair L. Chennault was invited to review air operations in China in 1937. He stayed there until the end ...Ten Tips for Translating Your Business Card International business today necessitates people travel all over the world for meetings, negotiations and other business functions. Along the way one will meet numerous people that all have the potential to give recommendations, pass over work or provide some sort of benefit. The business card is the key to remaining in their sphere of contacts. ...7 Stock Market Tips You Can't Live Without Every day there are a dozen new HOT stock market tips that guarantee your financial success. Every day there are hundreds if not thousands of people that jump on the bandwagon, and every day, each of those people are disappointed.When it comes to popular stock market tips, there is no golden ticket to striking it rich. So I'm going to sho ...Currency Update – 5 Trades Correct Last Week, What Does This Week Hold With our currency update last week we had some great trades and while we were right, we also know that if we were wrong, our risk was small for all trades entered.We have had some fantastic profits last week but that’s the past, let’s look at the currencies this week and what we think will happen.Our view last week was the longer t ...Online Trading Brokerage Online Trading Brokerage has been starting to hit big as a business brokerage career. Some newer brokerage companies in the market now offer transaction services in the form of a website-interface. It’s easy to go online. Low commissions are usually offered in as low as one to two US-dollars. This online trading brokerage also provides fast tran ...Do It Now! Start Planning Your Retirement Strategy Financial Planning for RetirementYou've worked hard all your life and one day the big day will arrive - you'll retire. For now it probably still seems a long way into the future, but the reality is that the sooner you get ready for retirement, the more you'll benefit when that day comes. Starting in your 20s or 30s is the best ti ...How on Earth do Companies and Organisations Lose Data? Browsing the web I became engrossed with the concept of data backup and data loss. There is almost an almost unlimited amount of information covering subjects such as how to keep computer and server data secure, how to back-up data, how to restore data, how to replicate data, who will remove your backup tapes to an remote location, which compa ...Futures Trading Index Trading commodities at a fixed price on a future date is known as futures trading. There is no actual buying involved, nor does the trader own anything. Future traders speculate on the future direction of the price of that particular commodity. The terms "buy" and "sell" are used to indicate the direction that future prices are expected to take. ...Are Technical Indicators Such as the VIX a Reason to Get Involved with a Stock? Once in a while the technical indicators start making news. Whether it's the VIX, or a moving average, someone picks up the story and soon it's on CNBC or Bloomberg as the news of the day. So, as an investor one has to ask, "are technical indications really a reason to buy or sell?" In some respects the answer is no, since "investing" is somethi ...Market Timing – A Danger to Your Financial Success Market timing are the two most dangerous words in investing - especially when practiced by novice traders.Market timing is the strategy of attempting to predict future price movements through use of various fundamental and technical analysis tools - and when used to predict trending moves, ends in disaster, and losses.Many investor ...Crude Oil & Unleaded Gasoline – Big Gains Ahead? For around six weeks these contracts have traded in a range, but this may be all about to end.A trade is now presenting itself with great risk / reward which have potential to spike prices to new highs and a 100% profit.Geo Political ConcernsForget all the talk about supply and demand and inflation - Geo political reasons ar ...Best Auto Loan - Tips for Avoiding an Upside Down Loan If you are new to the car buying process, the likelihood of acquiring a bad auto loan is high. For this matter, car buyers must familiarize themselves with how the financing process works. A common problem that arises with buying a car is obtaining an upside down loan. This occurs when the amount owed on the vehicle is significantly higher than ...20 Tips to Keep Love Alive Have you ever been at a loss to think of something special that you can do for that special someone in your life? Maybe you want to do a little extra for an important event, like his or her birthday, Valentine's Day, Christmas, or anniversary.Here are some excellent tips and ideas of some special actions that you can take to help keep lo ...Stock Investment Strategies Investment entails spending or setting aside money set for future financial gain. Investment may include purchasing financial assets such as stocks, bonds, funds, or insurance. Stock investment is one of the ways in which people put their money aside in order to gain more money later on.Before investing money in acquiring stocks, it is ve ...Investing Tips - How to Make Time Work for You Almost everyone has heard about compounding interest in one conversation or another over the years. Some of you may even have a pretty good understanding of compounding interest, but I doubt it many of you truly grasp the enormous power that compounding interest has to offer over time. To demonstrate, I am going to give you an example of two inv ...Credit Card Fraud Prevention - Advice for Online Merchants Finding a fraudulent transaction on a credit card statement can be an extremely distressing experience for a card holder. However, credit card fraud has two victims – the person whose card details have been stolen and the merchant whom the fraudulent transaction was made with. When people think of this crime the second of these is often overlook ...A Little Bit about the Chinese Crested Other names the Chinese Crested is known as are:• Chinese Edible Dog • Chinese Ship Dog • Chinese Hairless • Chinese Royal Hairless • Pyramid or Giza Hairless • South African Hairless • Turkish HairlessThe “crest” in its name refers to a copious shock of silky hair that graces the dog’s head.T ...Sports Arbitrage Trading Reviewed SureBetPro was created by C.E.O. James Beattie a little more than 1 year ago. If you haven’t heard of it by now, SureBetPro is an automated sports arbitrage trading software package that finds arbs in real-time. The software makes finding arbs around the world extremely easy and allows for fast execution of trades. The company has seen astound ...Losses, Not Profits, Will Stop You from Trading in the Market Should the market turn against you, it is important that you design a system that will produce as much loss as you are prepared to take. This loss, known as drawdown, is the maximum amount by which your trading float will temporarily drop at anytime. Doing this in advance, will help you avoid nasty surprises in the future. This gives you the ...Forex Trading Style: 7 Essential Indicators You Need When developing your own forex trading style, there is a danger in becoming fascinated with indicators. The newer trader experiments with one, finds it doesn’t work so well, then switches to another, then another, etc.The list below highlights 7 key indicators that can be woven into your forex trading style. You may not need to go any fur ...Guide to World Markets It has been centauries since the countries of the world understood the interdependence of each on the other. The phenomena of globalization are one of the reasons of this interdependence. The countries are trading among each other through economic zones. Also the business in the stock market has gone Trans national. All the stock markets of the ...Finding Low Cost Bonds If you've been considering investing in bonds, then you probably know that the best way to get the most out of bonds is to buy them early for a low price. Unfortunately, it can sometimes be quite difficult to find bonds early… and even when you do they're not always in the price range that you're looking for.Luckily, it is possible to fin ...Commodity Trading Courses Many traders believe that, for those who wish to acquire or enhance their knowledge of day commodity trading skills, the best educational option is to attend a day trading course at an on-location site run by a reputable day trading firm. However, for many aspiring day traders, this option may not be feasible for a number of reasons. Another opt ...Top 7 Considerations to Sales During Hurricane Evacuations If your business has a team of salespeople who continually handle customers outside the region and you are facing a large category hurricane coming in to your region and everyone is forced by mandatory evacuation to leave. You need to provide sales tools, such as cell phones and contact information to decision-makers in your company so your sal ...Even Higher Uranium Prices Ahead This Summer Will we see a dramatic spike in uranium prices this summer? Some industry insiders have forecast spikes that could send uranium soaring to between $55 and $100/pound. Most were not expecting this to occur during 2006. However, there are several reasons we believe something could crack wide open in the uranium market over the next 100 days. ...Search Engine Optimization (SEO) – An Overview Run a search on any of the 200 major search engines, and the results will come up in similar orders on quite a few of them. How a website owner/operator gets their website to the top of a list is called Search Engine Optimization, or SEO. Optimizing a website involves many of the same techniques, whether the aim is to optimize for Google adwor ...Going Against the Conventional Investment Wisdom First of all, I want to give everyone the disclaimer that I am not a registered financial advisor and I don’t play one on TV. Therefore, I cannot legally provide financial advice and I will not do so. This is for informational purposes only and I’m not recommending any of my personal investment strategies to anyone else. Now, with that being sai ...Useful Tips On Buying A New Or Used Car Buying A New Car: A new car is second only to a home as the most expensive purchase many consumers make. That’s why it’s important to know how to make a smart deal. Think about what car model and options you want and how much you’re willing to spend. Do some research. You’ll be less likely to feel pressured into making a hasty or expensive deci ...Iowa Home Equity Loans – Using a Home Equity Loan to Consolidate Debt Debt can be a huge burden on our lives and our finances. If you have found yourself caught up in the vicious circle of high interest credit card debt, an Iowa home equity loan may be just what you need to get a fresh start.Low InterestThe biggest benefit to getting an Iowa home equity loan to pay off debts involves interest. ...
| 