Long Term Trading Advise- Current risk reward ratio for a long term bearish trend is rather high, wait for a rebound around 1,120$ and use the 1,130$ key resistance to place your stop loss above it, ride the bearish momentum with 1,072$ as your target.

Trading advice: Trade with the range

Although the pair is currently trading sideways on a daily basis, a good idea would be to take advantage of the current range for short term trading. The pair has found support around 1.352 and since then has slowly rebounded..Use the 1.352 as support with a target of the 1.369. Above 1.369 trades could be a bit choppy thus we advise to trim your profit around this area.

The markets presented an unstable session yesterday, bouncing at the opening bell, only to close with minor gains. Cisco has been a major mover over the last couple of trading days and has helped to drive techs to higher ground. According to recent news headlines Cisco has stated that its new high-speed data router has the potential to change the internet, allowing them to provide a better service to clients whom aren’t dealing with the overload of online traffic.

The Euro and the Sterling gave up earlier gains from last week as risk aversion play weighed on the high  yielders. Last week the high yielding currencies among them the Euro and the Sterling were able to recover  losses and rebound against the Dollar and the Yen as better than expected job figures lifted recovery hops.  Nonfarm payrolls one of the strongest indicators of Job health in the US fell by -36k jobs against an expected  fall of -50k jobs. The Euro was able to rebound from the 1.34 zone to above 1.37 against the Dollar and topped  around 124¥ to the Yen.