Yesterday we looked at 3 trading opportunities. Today, we are going to look at one shaping up in the euro currency, a possible profit opportunity and update the others.
Let’s take a look first at the euro.
We are using the chart service futuresource.com and indicators RSI, Bollinger bands and stochastic in making our observations.
This report is written at 10AM Central European time.

Euro

The euro is in a firm up trend against the dollar and prices have recently retreated from contract highs.
Prices are now at the middle of the Bollinger band and are looking to hold around this level.
RSI has fallen back from overbought levels and stochastics are down, but oversold.
Support lies at 1.34 and 1.32.
Watch for stochastics to bottom and cross with bullish divergence to indicate a shift in momentum, accompanied by rising RSI.
This looks like a correction in a bull market.
Wait for the correction to run its course, by watching for the above indicators to give you a signal and shift the momentum back to the bulls.

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I am here to share some knowledge, tips, strategies and insights of how to successfully buy, sell, trade and invest in online Forex trading. FOREX or Foreign Exchange is the largest as well as the most liquid trading market in the world and there are many people involved in FOREX trading all over the world. A lot of people claim that the FOREX is the best home business that could be pursued by any person. With each day, more and more are turning to FOREX traders, via electronic means of computer and internet connectivity.

This means that foreign exchange is not delivered to a person who actually buys like stock trading, FOREX trading also has day traders that purchase and sell foreign exchange same day. Thus, FOREX is not a get-rich-quick scheme as many people thought which complicates the real concept of online Forex trading.

Unlike stocks and futures that trade through exchanges, Forex trading is done through market makers that include major banks as well as small to large brokerage firms located around the world who collectively make a market on 24 hours – 5 days basis. The Forex market is always “open” and is the largest financial network in the world (daily average turnover of trillions of dollars).

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Now that there are hundreds of Forex margin brokers, millions of free Forex trading tips webistes and literally hundreds of thousands of Forex day trading strategy “home based business” Forex traders, we can say that virtually anyone with an internet connection can trade Forex with the pros.

In any power trading strategy, a proven trading method will mean that through Forex strategy testing and by using trading risk management, no more than one or two per cent of a total account value is put at risk in a single trade. This is key in the path to big Forex profits. Any trader beginning out will look at the trading methodologies available to them and decide to create trading rules for their Forex trading strategy.

Forex trading (currency trading) initiates should be aware therefore not only of technical and fundamental analysis and predicting Forex prices, but also of how to be a trading strategy tester and to have strong Forex trading rules that help them to make the big Forex profits they are seeking. The alternative is to have more experienced Forex trading systems used by more experienced traders end up causing you to lose all your money in your Forex business – the harshest possible outcome.

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