ForexPros Daily Analysis March 24, 2011
Free webinar on ForexPros and FuturesPros - Binary Options and the Phenomenon of Exponential Delta
Expert: Dan Cook
Start: Wed, Mar 30, 2011, 10:00 ET
End: Wed, Mar 30, 2011, 11:00 ET
During this seminar, Dan Cook of IG Markets, Inc. will cover the key aspects and opportunities available to trade on-exchange Binary Options. Dan will cover the basics of these simple to understand contracts and will reveal strategies that traders can use to gain exposure to the major equity indices, commodities and currencies in a fixed risk environment. Dan will also explore the phenomenon of Exponential Delta, a characteristic unique to binary options in which traders can take advantage very large swings in the price of the option, while keeping their risk securely fixed. If you would like to learn why the popularity of Binary Options has been growing steadily, this is a seminar you will definitely not want to miss.
Click here to join free
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The EUR/USD has rebounded from a day where fundamentally negativity and a resurgent U.S. Dollar pushed the pair lower to 1.4050. This push higher comes as the dollar resumes its overall bearish Directional Bias and tests 76.00 on the U.S. Dollar Index futures contract again.
As the news cycle rotates between the three main headlines for the euro - the sovereign debt crisis, strong data, and a rate hike expectation - the EUR/USD is riding a roller-coaster intraday. It should be considered however that regardless of the recent pullback, the daily EUR/USD is still in a strong uptrend.
This means that the dominant psychology (based upon the market trend) is bullish. This increases the likelihood that buyers will want to support pullbacks and use the correction as an opportunity to get long once again. It’s also then my opinion that counter-trend trades (trades that are entered in the opposite direction of the daily’s trend) should be taken only on short-term time frames such as the five, 15, or 30-minute charts.
Today begins Day 1 on the EU Economic Summit in Brussels as the sovereign debt problems has most recently be centered around the Spain downgrade and Portugal’s PM resignation Wednesday. The backdrop to this is the continued stream of solid economic data which supports Trichet’s statements earlier this month that inflation will be combated with a rate hike. The rate hike of course had to be considered a point of contention for borrowers who still see the sovereign debt problems as the larger issue.
The 15-minute time frame has transitioned into an uptrend and could be considered a trend-following entry long on pullbacks to the support of the 34EMA Wave.
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Forex Trading analysis written by Raghee Horner for Forexpros.
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Get the most updated Forex News !
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Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Free webinar on ForexPros and FuturesPros - Binary Options and the Phenomenon of Exponential Delta
Expert: Dan Cook
Start: Wed, Mar 30, 2011, 10:00 ET
End: Wed, Mar 30, 2011, 11:00 ET
During this seminar, Dan Cook of IG Markets, Inc. will cover the key aspects and opportunities available to trade on-exchange Binary Options. Dan will cover the basics of these simple to understand contracts and will reveal strategies that traders can use to gain exposure to the major equity indices, commodities and currencies in a fixed risk environment. Dan will also explore the phenomenon of Exponential Delta, a characteristic unique to binary options in which traders can take advantage very large swings in the price of the option, while keeping their risk securely fixed. If you would like to learn why the popularity of Binary Options has been growing steadily, this is a seminar you will definitely not want to miss.
Click here to join free
---
The EUR/USD has rebounded from a day where fundamentally negativity and a resurgent U.S. Dollar pushed the pair lower to 1.4050. This push higher comes as the dollar resumes its overall bearish Directional Bias and tests 76.00 on the U.S. Dollar Index futures contract again.
As the news cycle rotates between the three main headlines for the euro - the sovereign debt crisis, strong data, and a rate hike expectation - the EUR/USD is riding a roller-coaster intraday. It should be considered however that regardless of the recent pullback, the daily EUR/USD is still in a strong uptrend.
This means that the dominant psychology (based upon the market trend) is bullish. This increases the likelihood that buyers will want to support pullbacks and use the correction as an opportunity to get long once again. It’s also then my opinion that counter-trend trades (trades that are entered in the opposite direction of the daily’s trend) should be taken only on short-term time frames such as the five, 15, or 30-minute charts.
Today begins Day 1 on the EU Economic Summit in Brussels as the sovereign debt problems has most recently be centered around the Spain downgrade and Portugal’s PM resignation Wednesday. The backdrop to this is the continued stream of solid economic data which supports Trichet’s statements earlier this month that inflation will be combated with a rate hike. The rate hike of course had to be considered a point of contention for borrowers who still see the sovereign debt problems as the larger issue.
The 15-minute time frame has transitioned into an uptrend and could be considered a trend-following entry long on pullbacks to the support of the 34EMA Wave.
---
Forex Trading analysis written by Raghee Horner for Forexpros.
---
Get the most updated Forex News !
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.