Trading Signals for EUR/USD on Tuesday, August 27 2013

I am happy to post that my sell order which I opened at 1.3401 closed with a take profit of 50 pips at 1.3348.

So, now I have just 6 open sell deals - 3 at 1.3201 and 1 each at 1.3251, 1.3301 and 1.3351.

I suppose the market if reaches lower then, I would end up in more profits for the day.

As I had supposed in my last post, the market did end up stooping low.

Now, I again get a feeling that the market will go further down from now.

For the same reason, I come up with relative signals as below:

Sell EUR/USD at 1.3401 for a profit of 50 pips.
Sell Gold at 1425.8 with a stop loss of 1430.8 and gain of 1410.8
Sell Silver at 26.001 with a stop loss of 26.501 and gain of 24.501
Buy Gold at 1377 with a stop loss of 1372 and gain of 1392
Buy Silver at 22.499 with a stop loss of 21.999 and gain of 23.999

 Apart from that there is one important thing that I want to share. It is that one cannot fully go by the news and announcements that happen in the Forex scenario. They are important for any trading, but many a times they could show an adverse affect to the one that is expected from them.

Like for example the one that announced today. The German Info climate released its data today, which came out significantly positive. Naturally, one would expect it to have a positive outcome on the EUR/USD pair, as it means a positive affect on the Euro; but alas the announcement created a strong decline in the pair implicating a rather positive affect on the Dollar instead of the Euro.

Again the same thing happened just an hour back. The Standard and Poor data released which turned out to be positive. Naturally, it could have created a positive effect on the Dollar, but instead it caused the Euro to go up.

Yes, it is strange, very strange.

I keep observing such phenomena once in a blue moon, but today I posted about it.

That is the reason I give about 30% importance to forex news and announcements; and instead go strong with the charts and their analysis.

I hope anyone reading this understands the concept of trading better.

Till then have fun in trading as well as in living.
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