Daily Forex Trading Strategy
July 29, 2008 – 05:10
(a.m.) GMT --
EUR/USD
Directional --- MAY CONSOLIDATE
Trading Range: 1.5600 – 1.5800
Comment: Euro found strong demand when it trade near 1.5650 It may consolidate between 1.5600 – 1.5800 in the near term.
TRADING STRATEGY: SHORT/SELL at current value 1.5746, Stop at 1.5800, Take Profit – First Target @ 1.5571 [1/2 position/trade] , Second Target @ 1.5471[another 1/2 position]
USD/CHF
Directional ---
MAY CONSOLIDATE
Trading Range: 1.0300 – 1.0500
Comment: USD found strong supply when it traded below 1.0500 It may consolidate between 1.0300 – 1.0500 in the near term .
TRADING STRATEGY: CLOSE SHORT at current value 1.0335 (booked 45bp CHF profits) [Note: First Target met – USD short since 1.0380 also booked 50bp CHF profits at 1.0330]
GBP/USD
Directional --- MAY CONSOLIDATE
Trading Range: 1.9800– 2.0000
Comment: GBP found strong demand when it traded near 1.9750 It may consolidate between 1.9800 – 2.0000 in the near term.
TRADING STRATEGY: STAY SIDELINE
AUD/USD
Directional --- MAY CONSOLIDATE
Trading Range: 0.9500 – 0.9700
Comment: AUD found strong demand when it trade near 0.9500 USD. It may consolidate between 0.9500 – 0.9700 in the near term.
TRADING STRATEGY: STAY SIDELINE
Daily Forex Trading Strategy
July 30, 2008 – 04:40
(a.m.) GMT --
EUR/USD
Directional --- DOWNWARD BIAS
Trading Range:
1.5450 – 1.5650
Comment: Euro found strong supply when it trade near 1.5750 It may consolidate between 1.5450 – 1.5650 in the near term.
TRADING STRATEGY: HOLD SHORT @ 1.5746, Profitable Stop loss @ 1.5671[
to lock 75bp USD profits
] Take Second Target @ 1.5471 [another 1/2 position/trade]
[Note: First Target met – EUR short since 1.5746 also booked 175bp USD profits]
USD/CHF
Directional --- UPWARD BIAS
Trading Range:
1.0350 – 1.0550
Comment:
USD found strong demand when it broke above 1.0400 It may consolidate between 1.0350 – 1.0550 in the near term .
TRADING STRATEGY: STAY SIDELINE
GBP/USD
Directional --- MAY CONSOLIDATE
Trading Range:
1.9650– 1.9850
Comment: GBP found strong demand when it traded near 1.9650 It may consolidate between 1.9650 – 1.9850 in the near term.
TRADING STRATEGY: STAY
SIDELINE
AUD/USD
Directional --- MAY CONSOLIDATE
Trading Range: 0.9400 – 0.9600
Comment: AUD found strong supply when it trade near 0.9600 USD. It may consolidate between 0.9400 – 0.9600 in the near term.
TRADING STRATEGY: STAY SIDELINE
