Week beginning Monday 18th December trading program for the week, remember this is just a guide for me and things for me to remember.
Eur/usd support and resistance levels for monday, tuesday, wednesday, thursday
r3 1.3268 r2 1.3224 r1 1.3153
s3 1.2923 s2 1.2994 s1 1.3038
Sunday/Mondays trades Times as are at GMT
Mondays data releases are dollar negative, but for this week I need to maintain a very careful eye on amounts, I expect these
to tail off towards the end of the week, and downward revisions to to ppi figures, which makes the initial launch spike
that the market long , but will have a close look at this in an instant. I dont like going against the tendency but my first trade is going to be a really speculative trade.
Eur/usd buy @ 1.3050 36 pip stop loss, limit 1.3150 activate time approximately 8.00 a.m. gmt monday
the reason behind this trade is that most of the time the markets open and go up 25 pips, the downward 25 pips before going
on the path for the day, also the asian markets normally transfer the markets down about 20 pips, also 1.3040 holds strong
support.
Tuesday
could be a very hectic day, together with the downwards revisions of past months cpi figures, would the ppi figures follow suit
eur/usd market @ 1.3150-1.3170 40 pip sl limit 1.3040
shoul have produced approximately 140 pips profit. When we receive the revisions and the figure comes out at 0.2percent a dollar negative response
is unlikely because its still a rise, which is dollar favorable, together with positive housing starts and building permits
not being to bad, needs to be a good days trading
wednesday
fairly quiet data/news releases together with the gbp dominating the day together with the bank of england minutes, and public sector
borrowing favorable for the gbp I will put another buy with other information releases being favorable for every currency
my commerce will be as follows
eur/usd buy @ 1.3040-50 only looking to make 20pip so that I will use a 25 pip trailing stop, my limit goal being 1.3120
thursday
nothing spetacular being announced so technical trading needs to continue without much hinderence, together with the trading day
begiining at the peak of the downwards channel, I will put a market at the afternoon
eur/usd market 1.3110-20 limit 1.3050
Friday
with volumes at a reduced, the eur/usd at a reduced and the only additional service being 1.2980 and the information being dollar favorable I
possess my final trade for weekly.
Eur/usd market 1.3080 limit 1.2980
I believe this could also be the end of the correction, as we head towards year end, will probably be taking a look at a shift
in interest rate differentials between uk/us/eur
good fortune all!my