DAILY FOREX OPPORTUNITIES

Posted byA. P. S. ThaparPosted inforex, forex tradingTags:, ,

U.S. DOLLAR continues to maintain it’s strength, forex market is in search of a catalyst to breakdown, perhaps today’s big event of U.S. fed report will give a direction. Tomorrow long awaited U.K. elections event will also resolve the thin volume range bound atmosphere. Latest opinion poll results predict decreasing majority of Tory, resulting in the possibility of hung parliament. Gbp/usd continuously hitting the resistance lines and trying to form a Top, risky traders should start selling the pair, conscious traders should stay away from the pair.

Following is the daily forex opportunities in some major forex pairs and CHART OF THE WEEK.

eur usd

EUR/USD:– Eur/Usd tried to show some strength yesterday but was unable to crack the resistance lines. The sell on rallies strategy is still valid in this pair. Further efforts of euro to hit the resistance lines should be taken as double top.

gbp usd

GBP/USD:– Gbp/usd tried to show some strength yesterday but returned to the familiar levels, currently trading at 1.31350 at the time of writing. Risky traders should start selling in the pair but the conscious traders should stay away from this pair till the U.K. elections event dust settles.

usd jpy

USD/JPY:– USD/JPY continues to form a base at 108.500 as expected. Buying on dips in this pair is still valid, U.S. dollars is maintaining it’s strength right now.

usd chf

CHART OF THE WEEK:- USD/CHF was trading above 0.99000 as predicted but yesterday showed some weakness, currently trading at 0.98450, yesterday’s weakness should not be taken as resumption of downtrend but should be taken as double bottom. The pair is also the CHART of the WEEK today.

aud usd

AUD/USD:– AUD/USD made a Top at 0.68500-600 as predicted, currently trading at 0.68100 at the time of writing. Traders should let the profits run for now till the pair will find the bottom.

nzd usd

NZD/USD:– NZD/USD made a Top at 0.65600-700 as predicted, currently trading at 0.65250 at the time of writing. Traders should let the profits run for now till the pair will find the bottom.

Stay tuned for more daily forex opportunities tomorrow.

DISCLAIMER:- Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

Published by A. P. S. Thapar

I started forex trading 10 years ago, after having such a long time experience, I decided to share my experience with all of you, I often heard people saying that forex trading is hard and ultimately results in loss of your full account or even more, yes I agree, it is hard, but it is hard due to your greed and fear. First you jump in forex without having much experience, Then after winning a few trades one starts to trade with bigger exposures due to greed, market knows everything and starts to tight you up and due to fear arising out of all this results in loss of account. I will write here the truth and new traders will learn discipline reading my posts. Everybody wants to earn profits, which is possible only with discipline. There is no shortcut to success. Slow and steady wins the race. Some experts claim that buy on dips and sell on rallies is not a right way to trade, I want to ask them if stop loss trading style is the right way to trade? To trade with stop loss is like showcasing all of your strengths and weaknesses and is an open offer to hit the sensitive areas. So I don't believe in stop loss trading style, I always try to pick the bottom and top as market is all about accumulation and distribution. Hope we all will together start an amazing journey toward success. I am here to build a relationship of trust and faith. Hope you will really appreciate my efforts. I am sure you will fall in love with forex trading. If you have any questions about my trading style or you want technical help on any other currency pair or stock index, please feel free to comment on my posts. I will add that currency pair or index in my future posts. Any further queries will be answered as soon as the time allows.

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