Profit Mongers – Thursday Trading Signal 04-15-2010

Posted on 15. Apr, 2010 by Sir Pipsalot in How To, Random Noise, forex signals

Hey folks,

The EUR/USD continues to hold up well in the 1.3600’s, but for me it’s sort of in no man’s land. I’d like to see it rally closer to 1.3800 for a potential long term sell, or down between 1.3500-1.3550 for a medium term buy.

Stocks continue to hold up their ridiculous strength for another moderate up day to new highs. The impending correction or reversal will be sizable, but right now it would take a trade down through 1185 on the ESM0 (S&P 500 futures) to confirm that reversal was starting up.

In news Wednesday, we saw US CPI and Retail Sales come out too close to expected for a trade, and there’s no news Thursday really worth trading. It’s just a pretty slow news week, but it looks like there’s 9 news trades next week to look forward to.

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