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ForexPros Daily Analysis May 03, 2011
Free webinar on ForexPros - Mastering Trader Psychology
Expert: Rande Howell
Start: Thu, May 19, 2011, 09:00 EST
End: Thu, May 19, 2011, 10:00 EST
Mastering Trader Psychology
The 5 Essential Skills for Peak Performance Trading
Click here to join free
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Cable Lower As UK Manufacturing PMI Drops
Cable trades sharply lower after UK PMI Manufacturing numbers fell to 54.6 in Apr from 56.7 in Mar. On the intra-day basis we see possible impulsive decline underway, which in this case means that temporary highs are in place. However, its very early in the day, so still plenty of time for a possible change.. But if we see a daily close price around current levels or even below 1.6430 support, then reversal should be confirmed..
Remember, the price at the end of the day is awlays the most important for further dirrection!
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Forex Trading analysis written by Gregor Horvat for Forexpros.
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New on Forexpros, the Forex Volatility Calculator!
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Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Free webinar on ForexPros - Mastering Trader Psychology
Expert: Rande Howell
Start: Thu, May 19, 2011, 09:00 EST
End: Thu, May 19, 2011, 10:00 EST
Mastering Trader Psychology
The 5 Essential Skills for Peak Performance Trading
Click here to join free
---
Cable Lower As UK Manufacturing PMI Drops
Cable trades sharply lower after UK PMI Manufacturing numbers fell to 54.6 in Apr from 56.7 in Mar. On the intra-day basis we see possible impulsive decline underway, which in this case means that temporary highs are in place. However, its very early in the day, so still plenty of time for a possible change.. But if we see a daily close price around current levels or even below 1.6430 support, then reversal should be confirmed..
Remember, the price at the end of the day is awlays the most important for further dirrection!
---
Forex Trading analysis written by Gregor Horvat for Forexpros.
---
New on Forexpros, the Forex Volatility Calculator!
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
