dkbMARKETS - Trading and Investing in The Financial Markets

Hi. I am away till the 4th of May and will start blogging again from the 5th of May 2010. Happy trading and remember to stick to your trading plan and apply good money management to your trading.

There are quite a few reports due out today, see www.dailyfx.com/calendar . There are a few reports of HIGH importance due out in Europe at 8.30am and 9am. In USA, there is the USD Producer Price Index report and USD initial Jobless Claims report both due out at 1.30pm. Trade with care, sticking to your trading plan and applying good money management.

This is the 2Day 5Min Chart for GBP/USD The economic reports have been announced. The pending Buy order just above the 1st Resistance has been left in place at 15436. The pending Sell order has been moved to just below the Pivot point at 15360.

This is the 2Day 5Min Chart for GBP/USD The GBP Jobless Claims (unemployment report) and the GBP Bank of England meeting minutes are due out at 9.30am. Trade extremely cautiously before 9.30am. A pending Buy order has been placed just above the 1st Resistance at 15436 and a pending Sell order just below the 1st Support at 15289. These orders are well clear of the current sideways trend of the market.

This is the 2Day 5Min Chart for EUR/USD Reports of HIGH importance are due out at 9.30am. Trade extremely cautiously before 9.30am. A pending Buy order has been placed just above the Pivot point at 13465. A pending Sell order has not been placed yet because the market is trending sideways close to the 1st Support. A Sell opportunity will be decided after 9.30am.

NEW YORK (MarketWatch) -- The U.S. dollar extended gains versus the euro and other major currencies on Friday after stocks dropped following the Securities and Exchange Commission's allegations that Goldman Sachs defrauded investors. The U.S. currency had been solidly higher before the Goldman news as Greece was seen preparing to tap a standby-emergency-aid package from the European Union and International Monetary Fund. Keep up to date with the financial news because it affects the markets. Today's trades are below.

This is the 2Day 5Min Chart for EUR/USD There was a 'Gap Down' when the market opened yesterday at 9pm. The market is now trending sideways. A pending Buy order has been placed just above the Pivot point at 13518 and a pending Sell order just below the low of the market at 13444.

This is the 2Day 5Min Chart for GBP/USD There was a 'Gap down' when the market opened yesterday at 9pm. The market has already fallen by about 140points this morning and it is trending below the 2nd Support. Due to these factors, there are NO selling opportunities today. A pending Buy order has been placed just above the 1st Support at 15325.

This is the 2Day 5Min Chart for GBP/USD The market is currently trending sideways. There is also a report of HIGH importance due out at 2.55pm. Trade with caution before 2.55pm. A pending Buy order has been placed just above the Pivot point at 15460 and a pending Sell order just below the 1st Support at 15390.

This is the 2Day 5Min Chart for EUR/USD The market is currently trending sideways. There is also a report of HIGH importance due out at 2.55pm. Trade with caution before 2.55pm. A pending Buy order has been placed just above the Pivot point at 13588. A pending Sell order can be placed either just below the Support of the market at 13520 or just below the 1st Support at 13505.

There is a lot of uncertainty in the financial markets due to various reasons such as the US-China relations, the problems with failing European economies and the upcoming British General Elections. This has lead to a lot of volatility in the markets. Due to these factors, it is very important to stick to your trading plan, trade less often and most importantly, apply good money management to your trading!! See today's day trades below. Happy Trading!!

This is the 2Day 5Min Chart for EUR/USD A pending Buy order has been placed just above the MA50 and Pivot point at 13645 and a pending Sell order just below the 1st Support at 13606.

This is the 2Day 5Min Chart for GBP/USD A pending Buy order has been placed just above the most recent High of the market at 15524 and a pending Sell order just below the Pivot point at 15443.

This the 2Day 5Min Chart for GBP/USD There are reports of High Importance due out today at 1.30pm and 3pm. Trade with caution before 3pm. A pending Sell order has been placed just below the Pivot Point at 15390. A pending Buy order has not been placed yet due to the hapharzard uptrend and the high from yesterday is above the 1st resistance. I will observe what happens when the market gets to the 1st resistance.

This is the 2Day 5Min Chart for EUR/USD There are reports of High Importance due out at 1.30pm and 3pm today. Trade cautiously before 3pm. A pending Sell order has been placed just below the 1st Resistance at 13644.

This is the 2Day 5Min Chart for EUR/USD The market is currently trending sideways. A pending Sell order has been placed just below the Pivot point at 13478.