Trading Signals for Wednesday, July 03 2013


Now comes the trading day of the week which promises to bring in some drama. Of course drama, considering that the past two days has been calm.

This upcoming tussle in the Eur/Usd pair is confirmed with the slew of important and high impact creating news that will be announced in the day.

So, now you know for sure that this day is definitely not good for scalping. If done, it is very probable to end up in losses as the market is bound to behave chaotic and dynamic.

Therefore, if not scalping, then it is the best time to go in for deals with bigger pips closing in profits.

Hence, getting straight ahead to the bigger pips strategy, I focused on my favourite 4H charts with my favourite indicators.

To me it seems that the indicators suggest that the pair is in for a low before it starts rising up again.

Therefore, I come up with the following entries:

Buy EUR/USD at 1.2899 for a profit of 50 pips and a strict stop loss of 100 pips.

Also, a little look on the important news coming today that could be effecting our trading as follows:

·         Unemployment claims
·         Non-manufacturing PMI

Hope you make some winning pips after reading this post.
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