Trading Signals for EUR/USD on Monday, August 12 2013

Trading Places (song)
Trading Places (song) (Photo credit: Wikipedia)
Today is the first trading day of the week and also a happy one. I am happy because one of my Sell order closed in profits of 50 pips at 1.3299 levels.

The last week had not been good, as in none of my orders closed in profits, so this week seems a lot better than the previous.

Surprisingly, today there were no major announcements and news except for the release of the data on Federal Budget balance of the U.S.A; which is supposed to be announced at 6 am GMT

I know that sounds like tomorrow, but in my Indian time zone, that is today; which is somewhere approximately 5 and half hours from now.

If that data comes out much more than the forecast, it will pull the EUR/USD pair much lower, else the pair could pull back a little.

Apart from that the charts also point at the much anticipated Bullish run of the dear Dollar.

I checked the moving averages at 10 and 20; and also the Stochastics, both suggest a trend downwards.

Moreover, the Dollar Index has started recovering in a big way.

As of now, I am just waiting for my open short orders to close in profits of 50 pips each.

I mentioned lastweek that I had 6 open orders in losses. Now one of them has closed giving me profits of 50 pips. I really wish that the other 5 also close down soon in profits.

By the way, I have also places another Sell entry order at 1.3351 levels without a stop loss, but with a profit of 50 pips at 1.3301 levels.

Now since my margins are plenty, I sit back and relax by having a yumm Mushroom and Broccoli soup.

I will update tomorrow on any activity of my trading.

Till then relax and have fun!!

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