Friday, January 8, 2010

Jan 08 , 2010




Hello Traders ....
Merry Christmas and Happy New Year for those who are celebrated it..
Since Monday the Fx Market already open for trade and i'm not trading it since uncomfortable to doing it . Today I will start trade and let us see what we have for today...

Fundamental Analysis

Well well well .. As per known, we have Non-Farm Payroll. The most wanted event. Dont get
mad traders..Let us forecast the movement base on the data given by Forex Factory here :
Unemployment Rate previous 10.0% and forecast 10.1% its means that increasing, and Non-Farm Employment change previously -11K and forecast is -3K, so here i would like to say that USD will soon Bearish.

So what we have in the charts today...
GBP/USD

In chart pattern there is none of the list.
MACD : it says that on the line of 0 level and hard to see, because i can say that GU just sideway before the news release.
SSD: said it pointing up and to find the overbought level.
So what we have here is just wait and the best strategy is Breakout since no pattern appear but the trend is Bearish.

EUR/USD
Same as the GU, chart pattern says nothing i can see here.
MACD : said that histogram is under the 0-level and it will on the same movement Bearish. Unless during the news release that we can see the result thus the heading to.
SSD : it will pointing up and try to reach the overbought level.

So, for those who are really new in Fx just be careful and make a very good trading style.
For both chart, during the Event release I will use Breakout Style. What we need is Trendline.

Happy trading .... :)

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