Good morning dear traders, how was your yesterday´s trading day? I hope, you could fetch some pips out of the market.

As there have been a lot of chances yesterday.

First, there have been some short possibilites into the direction of 1.3450.

Later on, long trades into the direction of 1.3520 have been attractive, followed by a nice downward trend in the afternoon, where the crosspair lost approx. 100 pips.

Altogether I had yesterday 4 trades with 52 pips. Unfortunately, I took not all trading chances, but nobody can that for 100 %.

LOOKING BACK

After a range of 1.3465 and 1.3520, the crosspair lost a little bit into the direction of 1.3450 with a further increase to the 1.3520 level.

A reason for the gains in EURUSD might have been the positive news from Germany and UK.

However, in the afternoon the course lost due to the strong US stock markets and reached about 1.3470 in the evening hours.

EXPECTATIONS FOR TODAY´S TRADING DAY

Which news are interesting for today?

The most important news for today:

08:30 GMT - UK - Average Earnings - BoE Minutes - Jobless Claims (At this time I will also look e.g. for GBPUSD) 11:00 GMT - US - MBA Mortage Application (maybe unspectacular) 14:30 GMT - US - EIA Crude Oil Stocks change

Today there come interesting news from UK. EURUSD might be unspectacular, that´s why I will also look to GBPUSD.

TRADING CHANCES FOR TODAY
EURUSD

Over the night the downward trend continued.

Today morning (4:00 GMT) the crosspair is in a range between 1.3400 and 1.3440.

I would see trading chances for long above 1.3450 with take-profit at 1.3485-1.3500 and stop-loss at 1.3430.

For short there could be some chances below 1.3395 with take-profit 1-3350-1.3335 and stop-loss 1.3420.

GBPUSD

GBPUSD has at the moment a range between 1.5330 and 1.5378.

Due to the interesting news from UK there could be some nice trading chances today.

Breakouts for long could be possible beyond 1.5400 with SL 1.5360 and TP at 1.5460.

Short possibilities could be possible beyond 1.5305, TP at 1.5250 and SL 1.5345.

Always take care of your stop management.

As a subscriber of my daily trading signals you can follow my live-trades in the premium area of http://www.chat-trading.com for free.

TRADING TIP OF THE DAY

„Have some break in trading from time to time. Do you sit all the time in front of your screen? Think to regular breaks. Set your stop-loss and have a break. Leave your trading room. Do something different. Have some distance to your trading room and trading. This will improve your trading more and more.

I wish you all the best for your Forex trading today and good trades

Berndt Ebner Performance April 2010: 420 pips Today free webinar for all subscribers starting 12:30 GMT - 13:00 GMT

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