thetradersclub.com - Daily reports

[forex618]

March 12, 2009 [FOREX REPORT]

G7 FOREX REPORT

All trades are subject to a clear signal given as per the G7 system at our site

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2450

Key G7 support levels: 1.2710, 1.2650

Counter-trend opportunities:Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after
an entry signal.

Today's trade suggestion:

We have moved steadily higher in the first part of the week, with an excellent opportunityto buy the euro at 1.2550/1.2600. We are now at 1.2850, and probably heading to ourfirst target at 1.3000, and then possibly higher. Either hold long positions for the target or(if you didn’t get into the long trade) wait for dips to 1.2710 or 1.2650 before buying for1.3000. It may be that as bullish momentum is increasing, that these buying opportunitieswill be hard to find

Summary:

Buy on dips to 1.2700/1.2650 (after a reversal signal), stops below the reversalsignal, target 1.3000.