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ForexPros Daily Analysis March 30, 2011
Free webinar on ForexPros - Mindful Trading: Conquering the Eight Roadblocks to Trading Success
Expert: Rande Howell
Start: Thu, Mar 31, 2011, 10:00 ET
End: Thu, Mar 31, 2011, 11:00 ET
Most traders know how to trade, but their emotions cloud their judgment and sabotage their efforts in their intense drama of trading. Without developing your mind for trading, your capacity to use your methodology and platform successfully will be limited. In this workshop you will learn how to hurdle the 8 roadblocks that keep you from developing the mindset necessary to move from mediocrity to peak performance. You will discover how regulating your emotional nature frees your mind from the fear, self doubt, greed, and impulsivity that bar you from higher levels of trading performance. From this new position you will see how to develop a calm assertive mindset that allows you to trade from a disciplined, impartial, patient, and courageous state of mind – the Trader’s State of Mind.
Click hereto join free
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Review The common currency opened lower on Monday as concerns over Portugal and regional electoral loss of German Chancellor Merkel’s Conservative party weighed on Euro. However, the currency pair found support at our entry long at 1.4031 as hawkish comments from Trichet and weak U.S. Personal income pushed the currency pair up to hit our first target at $1.4112 at 14:45 BST.
Strategy The Eurozone faces three more months of uncertainty over Portuguese politics and Irish banks as it struggles to contain a debt crisis. However, the common currency remains well supported in the near term with prospects of a rate hike by ECB next week. However, with geo-political tensions, Japanese nuclear crisis and growing prospects of an imminent Portuguese bailout, the dollar might attract flight to safety trades. Currency markets are bracing themselves for an interest rate hike by the ECB in order to tame inflation, which implied a resilient growth outlook in the bloc and was seen supporting the euro against the dollar. Today’s German CPI is likely to add to the strength in the Euro with consumer confidence from U.S. expected to disappoint in March after spectacular February figures. We continue to favour the upside for the common currency with $1.4085 being our entry long and $1.4149 being our first target for the day.
Alternative Scenario Negative sentiment about the Eurozone may push the common currency back below last week’s low at $1.4053, opening the way for a move to yesterday’s low at $1.4026.
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Forex Trading analysis written by Raghee Horner for Forexpros.
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Get the most updated Forex News!
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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 - Mindful Trading: Conquering the Eight Roadblocks to Trading Success
Expert: Rande Howell
Start: Thu, Mar 31, 2011, 10:00 ET
End: Thu, Mar 31, 2011, 11:00 ET
Most traders know how to trade, but their emotions cloud their judgment and sabotage their efforts in their intense drama of trading. Without developing your mind for trading, your capacity to use your methodology and platform successfully will be limited. In this workshop you will learn how to hurdle the 8 roadblocks that keep you from developing the mindset necessary to move from mediocrity to peak performance. You will discover how regulating your emotional nature frees your mind from the fear, self doubt, greed, and impulsivity that bar you from higher levels of trading performance. From this new position you will see how to develop a calm assertive mindset that allows you to trade from a disciplined, impartial, patient, and courageous state of mind – the Trader’s State of Mind.
Click hereto join free
---
Review The common currency opened lower on Monday as concerns over Portugal and regional electoral loss of German Chancellor Merkel’s Conservative party weighed on Euro. However, the currency pair found support at our entry long at 1.4031 as hawkish comments from Trichet and weak U.S. Personal income pushed the currency pair up to hit our first target at $1.4112 at 14:45 BST.
Strategy The Eurozone faces three more months of uncertainty over Portuguese politics and Irish banks as it struggles to contain a debt crisis. However, the common currency remains well supported in the near term with prospects of a rate hike by ECB next week. However, with geo-political tensions, Japanese nuclear crisis and growing prospects of an imminent Portuguese bailout, the dollar might attract flight to safety trades. Currency markets are bracing themselves for an interest rate hike by the ECB in order to tame inflation, which implied a resilient growth outlook in the bloc and was seen supporting the euro against the dollar. Today’s German CPI is likely to add to the strength in the Euro with consumer confidence from U.S. expected to disappoint in March after spectacular February figures. We continue to favour the upside for the common currency with $1.4085 being our entry long and $1.4149 being our first target for the day.
Alternative Scenario Negative sentiment about the Eurozone may push the common currency back below last week’s low at $1.4053, opening the way for a move to yesterday’s low at $1.4026.
---
Forex Trading analysis written by Raghee Horner for Forexpros.
---
Get the most updated Forex News!
---
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.
