Sunday, February 11, 2007
Forex Day Trading System - USD looks stronger against EUR and GBP
Forex Day Trading System - USD looks stronger against EUR and GBP
I am just glancing at the forex charts to see how the currency market is looking like. I am finding it to be strongly USD bullish on a daily chart.
For E.g. GBP/USD is shwing a strong MACD divergence where currency pair made a double top high, however MACD didn't do so. Also, the MACD is having a bearish crossover. Similarly the RSI is confirming it by being below 50. Also, the pair made a double top and is now retracing.
In all its a great opportunity for swing trading or day trading using a reliable system.
So, what should you do?? Should you enter short immediately?? No!!! You should glance down on the short term chart and try to find a good entry point..The entry point can be breaking of a support on the 1 hr chart or could be bounce from a moving average etc..
Once entered, don't forget to put a stop and a target price.
The same setup can be seen n EUR/USD and USD/CHF as well.
Thats all in today's session..Keep visiting to learn more on day trading the exciting world of forex.
I am just glancing at the forex charts to see how the currency market is looking like. I am finding it to be strongly USD bullish on a daily chart.
For E.g. GBP/USD is shwing a strong MACD divergence where currency pair made a double top high, however MACD didn't do so. Also, the MACD is having a bearish crossover. Similarly the RSI is confirming it by being below 50. Also, the pair made a double top and is now retracing.
In all its a great opportunity for swing trading or day trading using a reliable system.
So, what should you do?? Should you enter short immediately?? No!!! You should glance down on the short term chart and try to find a good entry point..The entry point can be breaking of a support on the 1 hr chart or could be bounce from a moving average etc..
Once entered, don't forget to put a stop and a target price.
The same setup can be seen n EUR/USD and USD/CHF as well.
Thats all in today's session..Keep visiting to learn more on day trading the exciting world of forex.
