Welcome to forex-home.net. Currency trading is becoming more and more popular. This is not least because it is exciting to watch the markets and rates, to analyze them in order to make the right decision for an order in the market at the end. Forex also means the chance of earning an attractive income. But to make this possible it requires some knowledge of the events in the Forex-Market and how you should proceed when trading forex. We are dedicated to provide you with everything you need in the Forex market to be successful.

 

 

 

Analysis for 06 September 2013

For technical reasons we can not publish the analysis a little later today. For this reason we limiting the view to trade from 08:00 h.

EUR/USD
The pair slid yesterday to its lowest level for 7 weeks after the press conference with Mario Draghi and the good data to the U.S. economy. Today, the data on German industrial production could put further pressure on the euro. The forecasts predict a decrease of 0.5% after it had gained another 2.4% last month.

From the United States today more data on the labor market coming. At 08:30 h the unemployment rate and the data on non-farm payrolls are published. While the forecast for the unemployment rate does not change the previous month, an increase from 162K to 180K is in the forecast to the payrolls. Even if this value is slightly below the figures should support the dollar in its bullish trend.

Long: > 1,3155
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 20 Pips

Short: < 1,3110
S/L: 25 Pips
TP: 60 Pips
Trailing Stop: 25 Pips

GBP/USD
The data from the UK this morning were partly behind expectations. But the effect on the price of the pair remained low since the data last week showed a stable growth of the British economy. Also here today the U.S. data can push the rate further.

Long: > 1,5615
S/L: 25 Pips
TP:  25 Pips
Trailing Stop: 20 Pips

Short: < 1,5565
S/L: 25 Pips
TP:  40 Pips
Trailing Stop: 25 Pips

USD/JPY
The JPY was able to offset its yesterday losses in early trading, almost. However, this gives the rate more room for improvement, if the U.S. data should be better than expected.

Long: > 99,90
S/L: 25 Pips
TP:  50 Pips
Trailing Stop: 25 Pips

Short: < 99,41
S/L: 25 Pips
TP:  35 Pips
Trailing Stop: 20 Pips

The data for entry, S/L and TP are shown as a guide only and that is probably conservative. They can be adapted to the current market behavior and your own trading style.

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Risk Warning / Disclaimer
The opinions of the author to market behavior do not constitute a solicitation to buy or sell any financial products, but are merely a personal opinion. When you go into the trade in leveraged financial products, you must be aware that a loss up to the amount of your deposit and in addition, can also be an obligation to arise. Make yourself familiar with the active trade or get independent advice before you invest your own money and use only invest money that you can get over the worst case.