Wednesday, August 24, 2016
Newsletter Pro – Forex Opportunities Technical analysis and Trading Ideas
EUR/USD
Analysis The Euro pushed lower yesterday and the opportunity that we were expecting to sell it higher passed us by as the Single currency went straight to the downside without offering a reversal hint. The Euro is trading below the 1.1300 level this morning and at this time we have no other choice but to stand by and wait for the next opportunity to present itself so we can offer our new suggestion.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
No Signal Neutral
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GBP/USD
Analysis The Cable has reached fresh highs on the back of Dollar’s current weakness and yesterday it traded to the 1.3200 area. It now seems that the momentum to the upside has diminished and the Pound could be looking to correct lower but we need a confirmation on that since the Dollar has been under pressure recently. So we will take a cautious stance and wait for a reversal formation to suggest a correction lower before we offer our next trade idea.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
No Signal Neutral
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FTSE 100
Analysis The FTSE 100 seems like it has found a basis of support around its current levels and its previous downtrend seems to have stopped. We could expect a move to the upside being the next step if the London index breaks above its recent highs and we would like to explore this possibility by offering a long suggestion this morning.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
New Signal - Pending BUY 6,890 6,915 6,865
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Gold
Analysis Gold was choppy in its price action yesterday and even though it attempted a correction higher it failed to hold on its gains. Nevertheless we were able to benefit from this attempt higher and our long suggestion was triggered and reached its target before Gold reversed lower again. For the day ahead we suggest remain neutral as the yellow metal appears directionless.
Trade scenario Signal Status Direction Entry Price Target Price Stop Price
Closed BUY $1,341 Hit at $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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