Trading Signals for Wednesday, July 10 2013


With a heavy heart I admit that my long entry at 1.2899 closed by hitting the stop loss at 1.2799. That makes a loss of 100 pips.

So as of now, my overall trading account is on a loss of 50 pips in this week.

The market went real low yesterday; the bears were on a active spree yesterday. This caused my long entry to close with a loss.

Do not know why the market is stuck at the low levels since so long. As I see the charts right now, since the 20th of June, the daily charts have been on a low. Now we are on the second week of July, and it is still stuck there.

Anyway, it is high time now that the market starts going upwards slowly. But when or how soon it is going to happen, that we need to wait and watch.

Currently, the market is moving side-ways; neither up nor down. That happens when the sellers and the buyers both are unsure as to what will happen next in the market.

Going by the Daily charts, market should move up anytime soon.

Also, when I see the news to be announced for the day, at 5 pm GMT, the FOMC meeting as well as the 10 year bond auctions will be announced. Both are high impact causing news. The effect of these could cause volatility and dynamism in the EUR/USD pair.

One should just wait and watch the upcoming moves in the market.

Now coming to the signals:

I have kept a by entry deal as a cover up for the existing at 1.2749 for a profit of 50 pips and a loss of 100.

Will post the outcome tomorrow, till then enjoy and have a good life!!
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