May Trade # 4 - BUY EUR/USD

2:35 pm (Manila)

Both lots are out as the pair stalled when it began to bang on the upper bollinger band.

Trade came out at +15 pips/lot for a total of +30 pips.

Great!

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2:00 pm (Manila)

German Trade Balance came out better than expected (8.9B vs expected 7.7B). This is good news for the Eurozone. A better-than-expected trade balance could be a sign of stability in the Eurozone as exports bested imports. The trade balance is a contributor to GDP. Germany is the Eurozone's largest economy and thus, is most watched by traders and investors.

Bollinger bands show a potential for consolodation. However, RSI, MACD and Slow Stochastics indicate enough room for an upward swing. Bounce also found around 1.3335 (61.8% Fibonacci)

Hence, my position:

BUY EUR/USD @ 1.3410
STOP - 1.3380
Limit 1 - 1.3430
Limit 2 - 1.3460