Wed, Aug 5 2009, 02:07 GMT
by Abdul Khan
Overview
You have to be quick to take your profit off the table in this current market! Overnight, stocks looked to weakening in London, which then saw the yen crosses along with the AUD and gold slip, but all this turned around in the US session on the back of more good economic numbers.
Tonight's ADP report will set the mood ahead of Friday's NFP data. A good jobs number could be another nail in the USD's coffin.
EURUSD broke up through that 1.4340 area I mentioned earlier in the week. This area now becomes good support, as we saw overnight.
Please see below for today's trade ideas
For those interested, I will be presenting webinars for FX Street every Friday at 0500GMT. Hope to see/hear you there.
Data for Today
EU: Retail Sales
UK: Industrial Production
US: ADP Employment Report
US: Factory Orders
Trades for Today
NZDJPY: Sell a break below 63.85
Email for details regarding stop-loss and profit targets. You can also now get me on twitter at:
http://twitter.com/forexplus
Published on Wed, Aug 5 2009, 02:13 GMT
Income Generation Strategies
| Level 26, Waterfront Pl. 1 Eagle Street, Brisbane, Qld. 4001
http://www.incomegenerationstrategy.com/ | abdul.khan@tricom.com.au
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