Dear traders, is EURUSD „damped???

I do not believe.

If I watch the EURUSD on weekly basis I am of the opinion that there is still some potential for going more southly.

What about 1.1600? Further drawdowns not excluded.

Profit of the day: 76 pips

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LOOKING BACK

There have not been overwhelming news today. Although there have been positive news from Europe and Germany, EURUSD stayed in a sideways range.

Cable was more optimistic. But was going into the knees in the afternoon after rather unspectacular news from Wallstreet.

EXPECTATIONS FOR TODAY´S TRADING DAY

Here the most important news for today (all times in GMT):

At 5:45 Switzerland is starting with its unemployment rate, followed by Germany at 6:00 with its trading balance. Followed by Switzerland with the consumer price index at 7:15. At 10:00 GMT Germany is publishing its industrial production. In the afternoon Canada is publishing the housing starts. From the USA come rather unspectacular news.

TRADING CHANCES FOR TODAY

EURUSD

EURUSD stayed over night in a sideways range.

Long @ 1,2005 Take-Profit @1.2065-85 Stopp-Loss @ 1.1965

Short @ 1.1895 Take-Profit @ 1.1840-30 Stopp-Loss @ 1.1935

GBPUSD GBPUSD has a sideways range too.

Long @ 1.4525 Take-Profit @ 1.4565-90 Stopp-Loss @ 1.4495

Short @ 1.4445 Take-Profit @ 1.4405-1.4385 Stopp-Loss @ 1.4475

Always take care of your stop management and consider your money and risk management.

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All the best for your trading today

Berndt Ebner - www.trader-coachings.com

Performance June 2010: 342 pips (5 trading days)

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