forex trading tips for 8 may 2013

forex trading tips for 8 may 2013

eur/usd trading tips for 8 may 2013

euro dollar pair trading at 1.3082.on h4 chart near support of 1.3070.currently trading weak and yesterday we seen downward spikes upto 1.3030.here watch 1.3070 support if hold for next 8 hours buy for upside target of 1.32+.but breaks downward cycle will trigger for euro and may heads towards previous lows.below 1.3070 possible first target will be 1.2940.

gbp/usd trading tips for 8 may 2013

pound dollar pair trading at 1.5484 with heavy loss for today.as given yesterday below 1.5595 pound enter correction rally which is going on.here watch major support on downside at 1.5440 which is target for this correction rally.if breaks like euro may enter bearish short term cycle and heads towards previous lows of 1.52 to 1.4950.below 1.5440 gbpusd has downside target at 1.5280.

usd/jpy trading tips for 8 may 2013

yen dollar pair trading at 99 with loss for today.on chart trend and momentum still strong for dollar as yen sees liquidation.here above 98.3 support level hold buy on dips view and expect 100 to 102 as upside targets.for better risk reward buy near support only with stoploss.we may short covering and buying rally after consolidation which support strong bull run!!

usd/chf trading tips for 8 may 2013

swiss franc and us dollar pair trading at 0.9417 with gains.as given earlier hit high near 0.9435 and target was 0.9454 which is almost achieved and still trending towards targets.here above 0.9360 trend and  momentum remain strong for us dollar.so follow buy on dips and expect 0.9460 and then 0.9550 as upside short term targets.

usd/cad trading tips for 8 may 2013

us dollar vs Canadian dollar pair trading at 1.0050 with heavy losses as expected.yesterday given target is achieved and now watch support of 1.0040 on downside if breaks another slump will come for us dollar.below this next target zone will be 0.9940.below 1.0140 strategy and momentum remain sell for us dollar against canadian dollar.on h4 chart 1.0040 was last bottom support too.

usd/sek trading tips for 8 may 2013

us dollar vs swedish krona pair trading at 6.5284 with gains for today.here on h4 chart look like showing resilience to selling and hold major support of 6.5140.so keep long side view as pairs trend and momentum is in favors of us dollar.on upside 1.58 is first short term target.if slips below 6.51 and sustain then only think of going short.

Updated: February 25, 2014 — 5:47 PM

The Author

Pramod Baviskar

Professional Financial Market Trader and Adviser Working since 2007 Developer of Trade-master™,Future-master™,Option-master™ and Signal-Pro™(Professional Trading system for Amibroker software) Working and Developing Auto-trading robots for various Financial Market. Follow Me on : Facebook-Twitter-Google-YouTube-Pinterest

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