Once again we are seeing narrow ranges in all our currency pairs. The big economic release today is UK CPI(inflation) at 09:30. Once that is out of the way, there is little to push prices one way or another. We should therefore expect a sideways trading day which will be frustrating: we want prices to have a firm direction (momnetum) so that when our signal levels are triggered, the prices have a high probability of reaching their target.
Today, that lack of momentum will mean that we will be repeatedly starting and stopping trades and likely losing money in the process. We recommend if you are a beginner to watch todays "action" and not trade live.
Thank You Dukascopy for the free forex gadgets!
About Us
- STARtechnologies.co.uk
- STARtechnologies produces innovative decision support software for traders. It has two active products: STAR:rs for trading equities by using a dynamic approach to momentum investing and STAR:fx for trading spot FX on an intra-day basis. Both products will shortly be available to traders by subscription and there are other exciting products in our pipeline.