FOREX SIGNAL FOR 7TH APRIL, 2009

SELL CHFJPY @ 88.29. Takeprofit is +50 and stoploss is -50pips
SELL EURJPY @ 134.07. Takeprofit is +50 and stoploss is -50pips

GOODLUCK

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FOREX SIGNAL FOR 7TH APRIL, 2009

CURRENCIES TO BUY TODAY ARE:
USDCHF, USDCAD, EURGBP


CURRENCIES TO SELL TODAY ARE:
EURUSD, AUDUUSD, NZDUSD, USDJPY, EURCHF, CHFJPY, NZDJPY, GBPUSD, CADCHF, EURJPY and CADJPY

Try to use your trading method to confirm when to trade any of these pairs. We will post on when to open orders for them.

Goodluck

GBPUSD WEEKLY OUTPUT FOR THE WEEK OF APRIL 5TH-10TH, 2009

The GBPUSD made a significant bullish movement last week. On daily chart, we can see that after the pair failed to break the trendline support to the downside on Monday, the pair had a very nice bullish momentum during this week. I expect to see bullish continuation scenario next week targeting 1.5250 – 1.5300 area. Important weekly support is seen at 1.4750 -1.4670 area. Break below that area could be a potential violation of the bullish weekly outlook. See you guys next week and have a great weekend with your family and loved ones.

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Trend Trading

“The trend is your friend”…Haven't we all heard this one before? When you are on the wrong side of the Market, the trend can seem like your worst enemy. The question is: How can you develop a nice, cordial and long lasting friendship, with this seemingly fair weather friend? The answer may be patience. It is difficult to force a friendship on someone. They may not be receptive. But if you wait until you have a common goal, in this case EUR/JPY wants to go up, and you also want it to go up, then you may enjoy your time together. The Day Trader may be friend the 3 to 5 Minute Charts, while the Swing Trader makes friends with the 30 or 60 Minute Chart and the Position Trader looks to embrace the 12 Hour or Daily Charts. The Day Trader who forces a friendship with the Charts of the Swing Trader, may end up like a high school freshman who wants to hang around with the seniors, they will soon find that they really do not have common interests and their friendship will fade.
When you have the patience to stay within your circle of friends, then identify when you have a common interest, you may find there are many enjoyable moments along the way. The best part of a good friendship is that you can rely on an old friend, and trust that they will always be there for you, When we look at a recent Chart of the EUR/JPY we see where the Day Trader, who has made friends with the short term charts, sees an area where the trend is defined as up, by the crossover of two longer term Moving Averages. So, the trend is up and you would like to be friends with this trend, so you join your friend for some short term fun. You like to have fun too, so when the Market gives you a chance to join in, you choose to do so at closer to an average price, so you are not paying too much for the privilege. On the other hand, when you decide that you think the fun is over, and speculate that the trend will end, you can see how quickly your friend can turn on you and become your enemy. Best Wishes to you and your new found friend and Happy Trading!

PREPARE TO BUY EURUSD, EURCHF, CADCHF AND TO SELL USDCAD, USDCHF ON 3RD APRIL 2009

NUMBER 1 TRADE (SELL USDCHF)

SELL USDCAD if the price of the candlestick from the 1hour chart closes anything below 1.2344. Sell this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything below 1.2344

NUMBER 2 TRADE (SELL USDCHF)

SELL USDCHF if the price of the candlestick from the 1hour chart closes anything below 1.338. Sell this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything below 1.338

NUMBER 3 TRADE (BUY EURUSD)
BUY EURUSD if the price of the candlestick from the 1hour chart closes anything above 1.3475. Buy this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything above 1.3475.

NUMBER 4 TRADE (BUY EURCHF)

BUY EURCHF if the price of the candlestick from the 1hour chart closes anything above 1.5285. Buy this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything above 1.5285.

NUMBER 5 TRADE (BUY CADCHF)

BUY CADCHF if the price of the candlestick from the 1hour chart closes anything above 1.9191. Buy this currency at the beginning of a new candlestick from the hour chart once the price of the previous candlestick closes anything above 1.9191.