Dynamic Trader Forex Blog FXCPS.co.uk: EUR time is running out !

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = UP

Good evening / morning "Dynamic Traders", what sort of day have you had in the markets ?

In memory to Chelsea fans, I am writing my blog wearing my Russian "ushanka" hat, which i got from Moscow at the Champions League Final. It should "slip" me a few ideas !

Yesterdays candle has just finished and again is harboured up within our trend lines. The candle had a range of 267 pips, so I hope you all took some pips off the table. I hope by now reading the blogs you will have learnt that it is not all about taking 300 pips on every trade, but to be consistent and if possible take a regular amount from EVERY trade.

Today's candle has started outside the upper trend line, but is as I speak is returning to the other side of the fence where it has always found comfort since middle December. We have 3 days left before the end of the week and our trend lines, support and resistance are all squeezing price into a tight corner. I do hope we see a break out before week end to add to our excitement before we go onto review another cross.

MACD remains below the zero line and on top of the signal line, running at a horizontal.

Stochastics are pointing down, currently at 35. I would prefer to see them above 50 to give momentum to a upmove.

RSI is also pointing down, currently at 42.

We have the same support below and resistance above as previously stated and we would want to see again a BOB on either one to confirm the move. Dynamic Traders would use ESLT to enter the trade.

We have a key news item on the USD at 1330hrs so if in the trade at that time, tighten your stops and manage your trade.

As always please do your own analysis before entering any trade.

P.S. Thank you for the kind comments we have been recieving through Javid, it makes it all worth while.