EUR/USD Intraday Trading Report February 08, 2012

Update 1 (06:28 GMT): Giving away the long position at 1.3240 seems like a foolish move now as the price is rising further higher to 1.3300. There is a good opportunity to short at around the 1.3300 levels. The 100-day MA is at around 1.3333. A breach of that level in a convincing manner will alert the bulls.

Update 2 (14:37 GMT): The price is still moving along a tight range of 47 pips set earlier in the session. No positions taken as the price can swing either ways; it can move towards 1.3300 or towards 1.3280.

Update 3 (18:00 GMT): It is well past bedtime over here. I could not take any positions today due to the fairly tight range movement. I could have ended the day with marginal profits if I had held on to the longs from 1.3240 from yesterday.


About Praveen Pious Francis
A part-time blogger who has a wide range of interests including investing in the stock markets across the globe and broadband technologies in India.

One Response to EUR/USD Intraday Trading Report February 08, 2012

  1. Pingback: Futures Trading Room | Best Futures Broker

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: