In this session our Senior Analyst Ian Coleman discusses the importance of sound Money Management including Risk / Reward ratios, account drawdown, building in and out of trades and the value of knowing when to cut your losses and run your winners.
“EURUSD – Trading was mixed and volatile yesterday but the rally was sold close to 1.3000 with strong follow through bearish momentum resulting in EURUSD posting a negative daily performance. This selling pressure has continued overnight but the dip has been bought from 1.2824.Although the outlook is bearish, we have to be careful at current with the USD Index ‘clipping’ the 261.8% extension level (from 81.37-82.61), before turning lower. With this in mind, there is ample scope for a larger correction going into today. The call is Bearish Bias – Sell at 1.2877 stop at 1.2905. The profit targets will be: 1.2830, 1.2805 and towards 1.2752
Resistance levels are: 1.2856, 1.2878 and 1.2900
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Risk Warning: Trading spot foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives... [Read more]
Disclamer: The analysis, data, and any visual graphic charts or pictures contained herein are provided "as is" and without warranty of any kind, either expressed or implied. First4Trading or any First4Trading affiliates or employees, or any third party data provider, shall not have any liability for any loss sustained by anyone who has relied on the information contained in any First4Trading publication....[Read more]