Trading Signals for EUR/USD on Wednesday, July 24 2013


How are you guys. Hope you and your currency trading is both doing wonderful.

Now talking of the market, it did not move much on the last trading day. The entire movement of the market was of 75 pips yesterday. If we analyze the candlestick that formed yesterday, it was of blue colour, suggesting a strong Euro movement.

As I posted earlier this week, the market seems to be returning to the strengthening of the Dollar is proving correct now. Well, well when am I wrong when it comes to predicting the market concerning the EUR/USD pair.

Moreover, today the market is predicted to show some fast paced action. This gets confirmed when you look at the upcoming news and announcements for the day. The entire day is packed with news flashes from the European Union and the U.S.A.

Just for the purpose of sharing the information, European news will start flashing from 7 am GMT, which is any time now; up till 8 am GMT lasting for about an hour.

I am sure it will propel the market to either direction. Therefore, I am strongly against scalping for the day. You will have no idea where the volatility of the market could lead in the wake of such major announcements.

Up further in the day, there will be announcements from the U.S.A. They will be announced at 1 pm GMT. Particularly, the Manufacturing PMI and the New Home Sales data are of major concern. They both will definitely move the market in a big way.

Hence, I come up with the following signals for the day:

Sell EUR/USD at 1.3251 for a profit of 50 pips; no stop loss
Sell EUR/USD at 1.3151 for a profit of 50 pips; no stop loss.

Also, the Sell entry at 1.3201 is still going strong. Although, I have moved the take profit levels so as to minimize the broker commissions.

Will update once the market shows the action, and it affects my trading entries.

Till then you take care, make loads of mullah and have fun.

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