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Euro Key Level Economic News Release Trading Strategy
By Cynthia Macy, Wed Dec 7th
Forex traders know the importance of economic news releases andhow that effects the exchange rate. A positive or negative newsannouncement in the US morning session can send the EUR/USD rateup or down extremely fast! One way to capture these large movesis to use ENTRY STOP ORDERS. Entry stop orders are an excellent way to get into a trade longor short AUTOMATICALLY. Often if the market is moving extremelyfast (due to an economic news release or geopolitical event) andyou want to get into a trade, it is extremely difficult to getthe price you click (live market order) because the exchangerate is moving up or down so fast. It is like trying to jump ona train that is moving at full speed. An entry stop buy or sell order places an order with the dealingdesk of your Forex clearing house to execute your order when theexchange rate touches the level you set the order at. The CMS VTplatform guarantees that these types of orders will be filled.
The following link outlines the economic news releases for theweek. I find it very helpful because it rates every release interms of importance on a grading scale of A-D. A denotes veryimportant down to D with little significance to the markets. Iteven lists what the market expects to happen with thebriefing.com forecast. Click
Forget About Euro ETFs, British Pound ETFs Are The Real Danger
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<a href="http://beforeitsnews.com/news/26161/Forget_About_Euro_ETFs,_British_Pound_ETFs_Are_The_Real_Danger.html" style="font-size:1.2em">Forget About Euro ETFs, British Pound ETFs Are The Real Danger</a>
<br> <span style="color:#888888;">Before It's News</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">In recent weeks, the future of the euro has been a hot topic among investors, as the current ?stress testing? of the common currency system has uncovered some worrisome flaws. The euro has slumped ...</div>
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British Pound Declines Further Against Majors
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<a href="http://www.rttnews.com/Content/CurrencyMarket.aspx?Id=1246113&SM=1" style="font-size:1.2em">British Pound Declines Further Against Majors</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">4 hours ago </span>
<div style="width:80%;">(RTTNews) - The British currency extended its previous session downtrend against major opponents during New York mid-day trading on Friday. The pound declined to new multi-day lows of 0.9014 ...</div>
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Gold and silver daily commentary (March 19, 2010)
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<a href="http://www.stockmarketsreview.com/commodities/gold_and_silver_daily_commentary_20100319_3631/" style="font-size:1.2em">Gold and silver daily commentary (March 19, 2010)</a>
<br> <span style="color:#888888;">Stock Markets Review</span> - <span style="white-space:nowrap">4 hours ago </span>
<div style="width:80%;">By Nell Sloane The strength of the Dollar against European currencies, particularly the British Pound, has put precious metals prices under moderate pressure into the US Friday opening. Comments ...</div>
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British Pound Weighed by Risks for Double-Dip Recession, Euro Extends Decline
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<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2010-03-19-1141-British_Pound_Weighed_by_Risks.html" style="font-size:1.2em">British Pound Weighed by Risks for Double-Dip Recession, Euro Extends Decline</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">The British Pound extended the previous day's decline and slipped to a low of 1.5129 during the European trade as the Bank of England continued to see a risk for a double-dip recession. The ...</div>
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Great British Pound (GBP) Technical Major Currencies (2010-03-19)
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<a href="http://www.ibtimes.co.uk/articles/20100319/great-british-pound-gbp-technical-major-currencies-2010-03-19.htm" style="font-size:1.2em">Great British Pound (GBP) Technical Major Currencies (2010-03-19)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">12 hours ago </span>
<div style="width:80%;">The pair managed to achieve yesterday's suggested scenario after touching 1.5225, however, the achieved ascend did not surpass resistance for the ascending channel shown above between 1.5305 - 1 ...</div>
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British Pound Declines After BOE?s Sentence Sees Risk of ?Double Dip Recession?
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<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2010-03-19-0753-British_Pound_Declines_After_BOE_s.html" style="font-size:1.2em">British Pound Declines After BOE?s Sentence Sees Risk of ?Double Dip Recession?</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">12 hours ago </span>
<div style="width:80%;">The British Pound slid 0.4 percent against the US Dollar late into overnight after the Bank of England's Andrew Sentence said he sees ?some risks of a double dip recession? and warned of ?shocks ...</div>
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British Pound Forecast Bearish versus Japanese Yen
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<a href="http://www.dailyfx.com/forex/technical/ssi/gbp-jpy/2010-03-18-1553-British_Pound_Forecast_Bearish_versus.html" style="font-size:1.2em">British Pound Forecast Bearish versus Japanese Yen</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 18, 2010 </span>
<div style="width:80%;">GBPJPY ? The ratio of long to short positions in the GBPJPY stands at 1.23 as nearly 55% of traders are long. Yesterday, the ratio was at -1.01 as 50% of open positions were short. In detail, long ...</div>
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British Pound / US Dollar 03-19
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-19-1404-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-19</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 18, 2010 </span>
<div style="width:80%;">The GBPUSD reversed just shy of the 38.2% retracement of the decline from 16464; at 15425, which is reinforced by parallel channel resistance and former support (15346). The extend of the decline ...</div>
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Exchange rates update: Public data boosts Pound
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<a href="http://www.economy-news.co.uk/pound-exchange-rates-latest-18201003.html" style="font-size:1.2em">Exchange rates update: Public data boosts Pound</a>
<br> <span style="color:#888888;">Economy News</span> - <span style="white-space:nowrap">Mar 18, 2010 </span>
<div style="width:80%;">British Pound exchange rates soared this morning after Public Sector Finance Data came in much better than expected. The data will add to yesterday's better than expected data on unemployment to ...</div>
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Is gold price heading towards $1,200?
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<a href="http://www.commodityonline.com/futures-trading/technical/Is-gold-price-heading-towards-$1200-15014.html" style="font-size:1.2em">Is gold price heading towards $1,200?</a>
<br> <span style="color:#888888;">Commodity Online</span> - <span style="white-space:nowrap">Mar 18, 2010 </span>
<div style="width:80%;">By Dan Norcini The bulk of the weakness in the US Dollar today can be attributed to a short covering rally in the British Pound. That market is so heavily loaded with speculative short positions ...</div>
<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/CANADIAN_DOLLAR_MAKES_ANOTHER_NEW_CONTRACT_HIGH_NEW_BUY_SIGNAL_FOR_THE_POUND/192500">CANADIAN DOLLAR MAKES ANOTHER NEW CONTRACT HIGH. NEW BUY SIGNAL FOR THE POUND</a> - <span style="color:#888888">Forex Hound</span><br>
<a href="http://www.economy-news.co.uk/exchange-rates-19201003.html">Exchange rates: Pound against the Euro and Dollar</a> - <span style="color:#888888">Economy News</span><br>
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Here for the Yahoo Finance Economic Calendar: http://biz.yahoo.com/c/e.html 1. Check the economic Calendar 2. Set your entry stop buy or sell at a key level 15-30 minutesbefore the announcement is released. Set your stop and limit onyour order by right clicking the order when it appears on yourVT platform. 3. You can also "straddle" the price movement by placing a longand short entry stop or sell order (and subsequent stops) if youaren't sure which direction the news release will send theprice. The above report was taken from the Euro Fractal Trading system,written by Erol Bortucene of the Day Trade Forex Team. This unique approach to day trading the EUR/USD involves usingfinancial Fractals and no other technical indicators, asoutlined in the Euro Fractal Trading System. The Euro FractalTrading System also teaches how to use key price levels to takeentry and exit positions, thus taking the guesswork out oftrading. About the author:Cynthia Macy has been trading various markets for over 12 yearsbut now concentrates on the forex market and is the co-author of3 forex training ebooks. For more comprehensive trading information, visit her otherwebsites at: http://www.professionalforextradingonline.infohttp://www.successtrading2000.com/forexhttp://www.shortterminvestingsite.comhttp://www.daytrade-forex.comhttp://www.daytradeforex.com/products.htm
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