Forex Crunch EUR/USD Aug. 26: Euro Attempts a Recovery |
- EUR/USD Aug. 26: Euro Attempts a Recovery
- Forex Daily Outlook – August 26 2010
- The System Is Perfectly Fine… Maybe You’re The Problem
| EUR/USD Aug. 26: Euro Attempts a Recovery Posted: 26 Aug 2010 12:31 AM PDT
EUR/USD managed to weather the fresh wave of bad US figures and to edge up towards the resistance line. Will it recover? Here’s a quick update on technicals, fundamentals and community trends.
EUR/USD below long term support, attempting on 1.2722 – click to enlarge EUR/USD Technicals
EUR/USD Fundamentals
EUR/USD Sentiment
Note – This is a new and still experimental section on Forex Crunch. It’s still in development. Want to see what other traders are doing in real accounts? Check out Currensee. It's free.. |
| Forex Daily Outlook – August 26 2010 Posted: 25 Aug 2010 02:00 PM PDT
U.S. Unemployment Claims, Jackson Hole Economic Symposium and Japan’s CPI are the major events today. Here is an outlook on the activities ahead. In the US, Unemployment Claims rose sharply in August reaching 500K last week this is an ominous signal for the US economy, a drop to 486K is expected now.
More in the US, Mortgage Delinquencies measuring the percentage of MBA-represented mortgages which were at least one payment late during the previous quarter predicted to remain around 10.0% this quarter. Jackson Hole Economic Symposium, held in Jackson Hole, Wyoming, is attended by central bankers, finance ministers, academics, and financial market participants from around the world.. Comments and speeches from central bankers and other influential officials can create significant market volatility this Could Have Wide-Ranging Implications on all markets. Finally in the US, Natural Gas Storage dropped to 27B last week and is likely to remain the same this week. In Europe, GfK German Consumer Climate index based on a survey of about 2,000 consumers climbed to 3.9 points in July and is expected to continue rising to 4.1 points this month. More in Europe, M3 Money Supply measuring change in the total quantity of domestic currency in circulation and deposited in banks forecasted 0.4% rise following the 0.2% rise in June and Private Loans are expected the same rise of 0.4% after 0.3% rise in the previous month. For more on the Euro, read the EUR/USD forecast and Casey Stubbs' latest analysis. In Great Britain, CBI Realized Sales index based on a survey of about 160 retail and wholesale companies is expected a 10 point decrease from the 33 point climb in July. Read more about the Pound in the GBP/USD forecast. In Switzerland, Employment Level expected to rise by 10K this quarter following 3.96M in the last three quarters. In Australia, Private Capital Expenditure a leading indicator of economic health predicted 2.3% rise following 0.2% drop in the previous quarter a positive sign for the Australian market. More in Australia, CB Leading Index a combined reading of 7 economic indicators related to money supply, building approvals, profits, exports, inventories and interest rate spreads expected to remain 0.3% For more on the Aussie, read the AUD/USD forecast. In Japan, Tokyo core Consumer Price Index, the most important consumer inflation release is expected to stay below 0% with a reading of -1.2% due to deflation trend as well as National Core CPI predicted -1.1% drop. More in Japan, Household Spending forecasted to increase by 1.5% following 0.5% increase in the previous month and Unemployment Rate expected to remain 5.3%. Want to see what other traders are doing in real accounts? Check out Currensee. It's free. |
| The System Is Perfectly Fine… Maybe You’re The Problem Posted: 25 Aug 2010 06:00 AM PDT
Guest post from visionsofaffluence.com So you have found a trading system that you believe will take your trading to the next level. You have heard others talk about it and the success it has brought them, so you are sure that it will for you. You completely scrap your current trading plan and prepare to start finally winning trades and turning a profit. Finally the big moment arrives and you take your first trade and you lose. So then you take another trade and you lose again. All of a sudden the system that you thought would change your life is shaping up to be a disappointment like all the others. You then decide that this new amazing system turned out to be all bark and no bite so you get rid of it and resume your hunt for the system that's going to change everything. Does this sound like you? If it does then the systems may not be the problem after all. Maybe it's you. You see if you're the type of trader that's constantly hopping around from system to system then you are severely hurting your chances at being successful. How do you ever expect to become a good trader if you never stick with a method long enough to learn it? Contrary to popular belief trading isn't plug_and_play. In order to be profitable with any method you are going to have to invest the time it takes to learn its ins and outs. I you may not want to hear that because every person that come into this business wants to start making money as soon a possible, but that's not how things work because if you rush into this business you will end up depressed and with a empty trading account. So before you declare that your chosen method doesn't work and decide to start looking for a new one make sure you have given yourself to truly understand it and its implementation. Want to see what other traders are doing in real accounts? Check out Currensee. It's free.. |
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