Tuesday, August 23, 2016
Newsletter Pro – Forex Opportunities Technical analysis and Trading Ideas
EUR/USD
Analysis The Euro reversed to the upside again yesterday in a sharp turn of direction and is now trading in close proximity of its recent tops. The Single currency is on demand ahead of today’s PMI reports from the Euro area which should propel it above the 1.1350 level but we’re not sure it can hold on these levels as we expect the Dollar to return stronger as we progress in the week. As such we will offer no suggestions today and instead we will wait for an opportunity to sell the Euro higher.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
No Signal Neutral
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GBP/USD
Analysis The Cable reversed once more and pushed higher yesterday to climb above the 1.3100 level again and finally find itself above the 1.3150 area where it’s trading this morning. We were able to benefit from this move as we called it right with our long suggestion and we made a good profit. Now for the day ahead we will remain neutral as the Pound is trading near its previous highs and we’re waiting for a reversal signal to sell the UK currency near these levels.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
Closed BUY 1.3095 Hit at 1.3120 1.3060
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FTSE 100
Analysis The FTSE 100 continued trading in a choppy manner for yet another day yesterday and even though it seems poised for a correction higher the attempt was abandoned and the FTSE pushed lower once more. Unfortunately the index triggered our long suggestion before moving lower which resulted in a stop but for the day ahead we will offer a new trade lower in case the index pushes below the 6.800 points’ area.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price Signal Status Direction Entry Price Target Price Stop Price
Closed BUY 6,880 6,895 Hit at 6,860 New Signal - Pending SELL 6,805 6,785 6,830
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Gold
Analysis Gold seems to have found some support around the $1,335 area and it could propel it higher at this time even for the short term and we would like to try and capitalize on this opportunity. We will offer a long suggestion in case the yellow metal breaks above the $1,340 level and make its way towards the 200-period moving average.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
New Signal - Pending BUY $1,341 $1,343 $1,338
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Trade Tactics & Instructions All the signals are valid until the next edition of the report or otherwise instructed via a following report from InvestingBetter.com . All signals that have not been triggered by the time that a fresh report is received should be removed. A signal that has been triggered should be followed until either its Stop or Limit level is reached. If a signal should be closed out mid-trade then an explicit suggestion will be made via a subsequent report or email from InvestingBetter.com .
Charting Information The indicated prices and trading signals are calculated and intended for Spot and CFD instruments and are not to be used for trading Futures, Options, Swaps or Binary products. Indicators' settings: Red line: EMA 55, Green line: EMA 200, Oscillator: MACD (12,26,9). The above charts have been created using FXCM's Trading Station platform. Price feed comes from FXCM’s Euro Server.
Disclaimer Notice Past performance is not indicative of future results. Trading forex, CFDs and equities carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts. The information provided by InvestingBetter.com should not be relied upon as a substitute for extensive independent research which should be performed before making your investment decisions. InvestingBetter.com are merely providing this information for your general information. The information and opinions presented do not take into account any particular individual's investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. InvestingBetter.com and/or its owners will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on InvestingBetter.com. InvestingBetter.com does not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.
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