Wednesday, January 26, 2011

Your Trade Ideas & Setups for Wednesday 01/26: Monthly Total To Date +1630 pips

Hi ,

Trade Room Performance 01-25

+125 Pips for the day, +1630 Pips for the month

Today 23 trades were taken returning +125 pips. You can view details of our trades at (Trading Record).

Trade Ideas For 01-26

Trade Idea EURUSD: Euro has now risen more than 800 pips since January the 9th with momentum suggesting it couls rise more. If we look at the wider picture though that puts it firmly between the 50 and 61.8 fib retracement area of the the move down from 4th November to 9th of January. Possible areas of resistance to stem the bulls lie at the 61.8 fib at 3741 and an are of resistance that lies at 3781. On the upside if EURUSD were to start retracing then support should be found in the 3640's, the next level being 3575 and below that at 3527. As always use your time lanes to hone your entries.(SeeEURUSD charts)

Safe trading

Paul Simpson

Visit our site at www.fxtraderscorp.com and watch our trading ideas at www.tigerpips.com

Risk Warning:

In trading forex (foreign exchange) the risk of loss can be substantial. As such you should consider carefully whether trading in the forex market is suitable for you in light of your financial circumstances. There is generally a high degree of leverage that is available in forex trading and you must understand that this can work against you as well for you. Thus the use of leverage can result in large losses as well as gains.

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