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Sample Trading Signals

EUR/USD 05-May-2005; 11:00 GMT

The euro tested key short-term resistance at $1.2985 before retracing and closed for its fourth consecutive positive daily gain. A movement through the $1.2985 level opens up further short-term resistance at $1.3008/10 but a near-term pullback to $1.2944 can’t be ruled out.
     

Entry Limit Order:    

Buy at

1.2929

Exit Limit (take profit):

Sell at

1.3043

Exit Stop (cut loss): 

Sell at

1.2883

 

USD/JPY  05-May-2005; 11:00 GMT

The yen extended its month-long appreciation against the dollar today as the pair closed down from yesterday’s close in an inner bar. Short-term resistance at the ¥104.69 level capped the pair’s upside and opens up a test of the key ¥104.03 support level.
     

Entry Limit Order:    

Sell at

104.94

Exit Limit (take profit):

Buy at

103.93

Exit Stop (cut loss): 

Buy at

105.59

 

GBP/USD  05-May-2005; 11:00 GMT

The British pound closed above mid-term $1.9022 technical resistance today and established a new weekly high before consolidating to close at 50% of the recent $1.9217 - $1.8881 range. A descending triangle on longer-term charts shouldn’t be ignored and the $1.9148 level represents a near-term target for cable bulls.
     

Entry Limit Order:    

Buy at

1.9012

Exit Limit (take profit):

Sell at

1.9129

Exit Stop (cut loss): 

Sell at

1.8954

 

USD/CHF  05-May-2005; 11:00 GMT

The Swiss franc led all major currencies lower today as the dollar was supported at the 38.2% retracement level (CHF 1.1886) of its 2005 range.  The 61.8% retracement level of its CHF 1.2259 – CHF 1.1481 range coincides with the 50% retracement of its recent CHF 1.2193 – CHF 1.1737 range and prevented the pair from scoring any further gains today.
     

Entry Limit Order:    

Buy at

1.1873

Exit Limit (take profit):

Sell at

1.2011

Exit Stop (cut loss): 

Sell at

1.1807

 

USD/CAD  05-May-2005; 11:00 GMT

The Canadian dollar closed with a minor gain on the day against the U.S. dollar and has now appreciated for four consecutive daily sessions.  The U.S. dollar’s upside was limited by the 23.6% retracement (1.2476) of the move from C$ 1.1974 to C$ 1.2635 and its base today is around the 61.8% pullback of its move from C$ 1.2311 to C$ 1.2635.
     

Entry Limit Order:    

Sell at

1.2497

Exit Limit (take profit):

Sell at

1.2396

Exit Stop (cut loss): 

Sell at

1.2559

 

Crude Oil

 
     

Entry Limit Order:    

Buy at

 75.68

Exit Limit (take profit):

Sell at

76.52

Exit Stop (cut loss): 

Sell at

75.39

 

Gold

 
     

Entry Limit Order:    

Sell at

1124.00

Exit Limit (take profit):

Buy at

1121.00

Exit Stop (cut loss): 

Buy at

1128.00

 

 
           

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