Apr 13 , 2010

Hello traders ....
How you are doing ? Hope everyone make good trade day by day ..
So then , what we have fpr today ... ? As usual, let go first Forex Factory ...
So nothing interesting to know for noe unless for Trade Balance GBP and USD ...

For the GBP, I can say that during that news, it will bearish..Why am i said so ? It was because the forecast increasing..For the USD then, during that time, USD will bullish . By the way , we see result on that particular time...

So what we have for technical analysis ..
For EUR/USD


So for the chart pattern, there is NONE .
Stoch and RSI : is above Oversold line and piloting up. SO i can see that it will goin up furthermore to reach its limit or to reach the lower high and continue berish.
How about MACD ? Well then , currently it still below 0-level and its mean its still bearish movement.Usless if it is open new histogram above 0-level then we need to forecast again.

So let see for the GBP/USD ...

Well then, what i can see here is the same as the Eur/Usd forecast...
Chart patterm : NONE
Stoch & RSI : pointing up for current candle until it reach the trendline and by the way it will reach overbought level and during the time it will fundamental effect since i already forecast that GU wil further more bearish. Any way, we need to confirm their actual value for further movement.
Macd : its still under 0-level and means Bearish..Same as EU, if histogram appear at above 0-level , we do the forecast again and do trade..

So what is actually trader's job ? Is just do the forecst and trade ...

See you tomorrow ... Happy Trading !!! :)