Trading Signals for EUR/USD on Tuesday, Aug 6 2013


I know I am late to post today. But what to do the market is not showing any great moves since past few days. It is rather moving side-ways with no major trend formation in either of the directions.

I therefore waited the whole day for the Trade Balance data from the U.S. It was the only major news for the day; the others being less important than this one. The data on Trade Balance released about an hour back, and it was mighty positive. I therefore feel that the market should come down now.

As it is it has been stuck between 1.3350 and 1.3151 levels since past one week. Although it has not touched both these levels as well, just lied wavering between these two ranges.

So for the last week and this week has been not very trend setting for the EUR/USD pair.

It has not made any impact forming trend. I mean it has seemed to be going nowhere till now.

I just feel with the release of the Trade Balance, it should form some definite trend by now.

Also, there is one more significant news pertaining to the U.S economy is about to come in another 5 minutes or so. It is the one regarding the Job Openings and Labor Turnover Summary (JOLTS). This one excludes the farming industry data.

If this one also comes out positive, then the market should be forming trends downwards; which in any case I have been anticipating since the past week.

By the way, talking of signals for the day – I have not come up with anything new.

I just stuck with the one I came up yesterday. Hence, today a deal got auto-opened at 1.3301 levels.

Hence, my trading account has 5 open Sell deals today.

1 at 1.3301
1 at 1.3251
And 3 at 1.3201. Of course all are in losses except for the one that opened today.

Hoping to see some positive action now, till then have fun and enjoy.
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