Sept 22 , 2011

Dear Traders,
How are you doing? Im believe that you got a big catch yesterday right? Well done all..
So what we have for today? Lets us see from Fundamental Analysis.

From Fundamental Analysis, we can see the market for today is whipsaw. So we need to be very careful with maintain Money Management and Stop Loss. Once market open, EUR will play their role. The PMI ( Purchasing Managers' Index ) is a leading indicator of economic health. It measure the level of diffusion index based on surveyed purchasing managers in the manufacturing industry. The usual effect for this kind of news is Actual > Forecast = Good for Currency.

Well. lets look the Technical Analysis for GBP/USD pair:

Yesterday approximately 200+ pips in a one way direction which is SELL. So today, the market might be lead to bullish as their correction movement and it will depend on the EUR correlation since EUR has PMI news. So, make it confirm the SSD must cross the oversold level and the candlestick must breach the red line above it and Blue ball should appear below it, then it was confirm the movement is for BUY.

So for the EUR/USD :

The Technical Analysis for this currency pair is same as above. The movement will lead thru the fundamental analysis soon. But keep in the mind that market movement is in the correction mode which is bullish. SSD must cross the oversold level and candlestick must breach the red line above it and Blue ball should appear below it.

So that is what i have for today and happy trading.... :)