Forexpros.com Daily Analysis - 05/05/2010
 

ForexPros Daily Analysis May 5, 2010


Free webinar on ForexPros - "Money Management for Forex & Futures"

Expert: Mark Hodge, Rockwell Trading
When: Wed, May 12, 2010, 10:00 EST

Money Management is one of the keys to becoming a consistent and self-sufficient trader. But many traders are unaware of what money management really is and how it can have a dramatic effect on growing and protecting their trade equity. In this FREE webinar, Mark Hodge (Head Coach of Rockwell Trading) will cover the following important topics:

* What money management is and what it isn't
* Share several different money management techniques
* Show why Fixed Ratio Money Management is his favorite

This webinar is #2 in a 3-part educational series brought to you by Rockwell Trading.

Click [color=black]to join free.

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Fundamental Analysis: ECB Press Conference

The European Central Bank holds this monthly press conference about 45 minutes after the Minimum Bid Rate is announced. It is about an hour long and has two parts: First, a prepared statement is read; then the conference is opened to press questions. The questions often lead to unscripted answers that trigger market volatility. The press conference, which is broadcasted on the ECB website, is the ECB's primary method for communicating with investors about monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it often provides clues regarding future monetary policy. If the statement is more hawkish than expected, that is usually good for the euro.

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Euro Dollar

The Euro broke the support specified in yesterday