March 9th, 2010
By: Carri
It's March 9th, 2010 and time for our Angel Pair Picks!
We have a few indications of trades today.
We are showing indications of potential shorts on EUR/USD, USD/JPY and AUD/USD. Also, we have indications of a potential long trade on the USD/CHF.
The EUR/USD is showing some sell indications, but the price is also pretty close to recent resistance levels near the 1.3500 range. However, there may be time to grab 50 pips or so on a short. Unfortunately the ADX indicator is pretty low, which tells us that this might be near the end of its recent movements and may be trending sideways. We are passing on this trade due to the large uncertainty of the move.
The USD/JPY is also showing short indications. However, the drop over the past two days may be profit taking from the large jump up a few days before. We could see the return to the upward movement as Japan has been working on strengthening its Yen. We are going to pass on this trade pending confirmation of the move.
We are getting weak signals that the AUD/USD will be moving down. The problem is that for the past 10 days, the pair has been moving pretty steadily in a solid uptrend. While a reversal is possible, we don't feel it is worth risking at this point. So once again, we are passing on this trade.
Check back tomorrow for more Angel Pair Picks! Let us know how YOUR trading is doing!
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Pair
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Order
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Entry
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Stop Loss
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Take Profit
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| EUR/USD | ||||
| GBP/USD | ||||
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USD/JPY
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AUD/USD
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| USD/CAD | ||||
| USD/CHF |
IMPORTANT NOTE: These are not Forex picks nor Forex recommendations. This information is provided for educational and informational purposes only. Use this information at your own risk. You MUST apply your own trading methods and your own opinions to an Angel Pair Pick to determine if a trade should be considered. Also, you do not need to trade all of the Angel Pair Pick pairs, nor should you. There's no need to place more than a few trades on any given day and our recommendation is when you get to 6 open positions, don't add any more trades until one of them is closed out.
Note: Forex, futures, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using Angel Pair Picks will generate profits or ensure freedom from losses.
