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Despite my inactivity, Jaclyn still faithfully updates me on FXCM’s happening. FXCM is now offering free email education, a 12 installment email tutorial on forex trading,
FXCM (www.fxcm.com), the official currency-trading sponsor of the CNBC.com Million Dollar Portfolio Challenge, announced today that it is providing all contestants of the virtual trading competition with free forex education and trading signals to optimize their currency-trading experience.
It’s just a few hours away before the announcement of key interest rates from Reserve Bank of Australia (RBA) for AUD. All technicals seem to be pointing a bear for the AUD.
AUD/ USD 4 Hour Chart

200 EMA/SMA is right at the bottom with a trendline which looks very vulnerable to break. MACD/ Stochastics is looking and waiting for the decisive moment to crossover as well.
GBP/USD
Cable has been consolidating for 4 days now. I think it’s time for a move outside this triangle like range.
Watch out for a close outside the triangle I’ve drawn for you. Hopefully it won’t be a fake breakout and we will see cable shooting at least 80 - 100 pips in that direction. I’m counting for a break below. A bar closing below 1.9805 is the signal to go Short; while the Long trigger is way up at 1.9960.
US Dollar’s the big winner after the announcement cut apart from a few pairs which gained back its own momentum (like USDCAD)
Let’s see the few big movements.
GBPUSD
2.0516 to 2.0334 = 182 pips move
AUDUSD
0.8897 to 0.8711 = 186 pips move
USDJPY
110.76 to 110.46 = 130 pips move
Just after the release of ISM results (not much reaction on price action btw), I was looking and scanning around the few hour chart duration of cable (GBPUSD).
Placed a long position at 2.0650, Stop Loss at 2.0620

Hello,
Here are my thoughts for today. No explanations or charts this time, just simple ’signals’.
AUD/USD (0.8915)
Trend: Downward
Take profit target at 0.8775
Stop loss (and reverse position) at 0.8990
GBP/USD (2.0442)
Trend: Uptrend
Take profit target at 2.0600
Stop loss (and reverse position) at 2.0370
Regards,
Dan
Life Holdings Management
Hello,
Just a quick look at 3 currency pairs. I hope you will find my technical analysis observations useful.
Don’t forget to keep your trading system simple, it will work better!
Regards,
Dan
Life Holdings Management
Popularity: 25% [?]
From ForexNews,
The greenback edged up higher against the majors in early US trading, firming to 1.4017 versus the euro and 117.48 against the yen before easing in the afternoon ahead of the FOMC monetary policy minutes. The currency market remains quiet as traders returned to their desks following the holiday to a dearth of fresh economic news.
It’s the time of the month again with Non-Farm Payroll in about 2 hours or so.
Let’s show you what I’d usually do before the big numbers and probably derive something from there and then with both fundamental and technical analysis. I’d start my day by visiting Forex Factory’s economic chart and check the forecast and the previous number.
So Euro maintained its Interest Rate at 4.00%
Source: Bloomberg on Euro Rises; Trichet May Signal ECB Key Rate Has Yet to Peak
Oct. 4 (Bloomberg) — The euro snapped three days of declines against the dollar on speculation European Central Bank policy makers won’t signal that borrowing costs have peaked after today’s rate-setting meeting.
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