Forexpros.com Daily Analysis - 16/06/2011

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ForexPros Daily Analysis June 16, 2011


Free webinar on ForexPros - Mindful Trading: Conquering the Eight Roadblocks to Trading Success

Expert: Rande Howell

Start: Tue, Jun 21, 2011, 10:00 EDT
End: Tue, Jun 21, 2011, 11:00 EDT

Recognizing that 90% of trading is in your head and more than 90% of traders lose money, those who really want to master trading must focus on developing the psychological skills of Mindful Trading. After years of chasing the Holy Grail of Trading, they discover that it lives within them. And they must develop their state of mind to become consistent, disciplined, confident, courageous, and impartial traders - it is these qualities that leads to stress-free and consistent success in trading. Come to this free webinar to learn about the Eight Roadblocks to trading success and how to move beyond mediocrity and into Mindful Trading.

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US Dollar Move: The Easy Money Is Gone, Wait on Pull-backs

Stock markets are lower across the globe, after Greek debt worries and a slowdown of the U.S. economy. The results seen on the FX board is obviously higher reaction on US dollar and Japanese yen, currencies that were also supported after extremely bearish reaction on some of commodity markets yesterday during the US session.

Now, the question is how to catch further strength of the US dollar?! Well, we can count five wave patterns on a lot of majors, so jumping into the market around current levels it