Hey folks,
Here is the video:
04-27-2009.swf
The EUR/USD has had a nice rally back up over the last few days to the 1.33 region and has come back off that level. I view this rally as a nice retracement worth shorting as we seem to be forming a downwards sloping channel (shown on the video) that should cap prices in the 1.3300 to 1.3330 range this week and lead to a selloff down to the 1.28 to 1.30 range on the Euro. Gold looks like a very good short from this 915-920 resistance level, but a firm break of 922-925 would put some doubt into that picture. Stocks have been stronger than expected, but a potential double top in the 860's could be the beginning of that more material decline/pullback to 800 and below we've been waiting for. Friday's news saw the German IFO perform very well with 80 pips in about 30 minutes, and UK
GDP managed 50-60 pips to the downside even with conflictingly good retail sales numbers.
For Monday and Tuesday this week, there are no major economic numbers to look out for, so you can trade the channels, technicals and sentiment in reaction to random bits of news that hit the market, but the week really will get started on Wednesday with US GDP and the
FOMC Interest rate statement, so we're kind of on standby until then.
Sorry for the sporadic days without free signals last week. I was pretty sick and had to take some time off and get some extra sleep to recuperate, but I'm feeling much better now.
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Forex Trading Signal 04/27/09 -
04-27-2009, 06:09 AM
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