Today on EURUSD - Daily and H4 charts support Long trades, but…

On the Daily chart above, we would observe that the EURUSD is in a very strong uptrend; an uptrend that started around March, this year (2009). Although, the uptrend is still seen as a bullish retracement on the Monthly chart, as far as we are concerned, from a shorter term point of view, we are in a strong uptrend. The bulls resumed their control on Friday, last week, and since then, we’ve somewhat been in a steady upward movement. From a day-trade perspective, we seem to have enough room to still long the pair. We expect price to continue its upward move toward the year high – also the most recent Daily swing high – @ 1.4843 (which we've highlighted using the blue broken line). The 1.4843 is a critical resistance level, hence let’s be cautious as price advances toward it. The 1.4843 level would also, most likely, be supported by the upper edge of the upward or bullish channel.

On the H4 chart above, price has broken the most recent swing high @ 1.4736 (which we've highlighted using the lower blue broken line) upward. That sustains our bias in favor of an upward price move. The 1.4843 level (that we've highlighted using the upper blue broken line), which we discussed on the Daily chart, is shown on the H4 chart to give us a clearer view of its proximity to current price position. We have about 70 pips gap, which gives enough room to seek Long trades – from a day-trade perspective; however, let’s still be very conscious of the level.
The green horizontal line @ 1.4649 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades.

On the Daily chart above, as with other higher time frame charts (Weekly and Monthly), it’s very much apparent that we are in a strong downtrend. The bears seem unrelenting. From a day-trade perspective, the scenario is not in any way different: a major support level – the most recent Daily swing low – @ 88.22 (which we’ve highlighted using the blue broken line) has been breached. That price action indicates price is still prepared to move further downward. The year’s low @ 87.10 (not visible on the Daily chart) is currently about a 100 pips away, hence there seems to be enough room for the downward move – again, that’s from a day-trade perspective.
However, let’s be wary of the 88.00 level as it is an area where some institutional traders have “large stop-loss sales lurked.”

On the H4 chart above, price has broken the most recent swing low @ 88.61 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The white horizontal line @ 89.03 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

7 Things to Teach Your Kids About Money

Personal Note: The seven lessons enumerated by Wilford, in this article, are what we could regard as “cliché,” but they form the foundation of personal finance. Yes! It is of utmost necessity that we teach our kids about them, but for us to meaningfully impart knowledge, we need to first embody it. In other words, let’s make sure we “live” these lessons.
The eighth lesson I would add to these is “cultivate the habit of smart investing.” In this age of “raging” inflation, we need to understand how to preserve our wealth from depreciating.



By [http://ezinearticles.com/?expert=Wilford_Hinchman]Wilford Hinchman

Did you know that many people retire broke?

It's true. After a lifetime of hard work and having earned literally hundreds of thousands of dollars, they end up with nothing. So where did all their hard-earned cash go? The answer is, it passed right through their fingers. While schools are great at teaching algebra, calculus, and geometry... how many of us learned about the basics of personal finance and creating financial security for ourselves?

The truth is, the earlier you learn to handle money, the more likely you are to manage it properly and live a prosperous life.

So why not provide a little home schooling for your family and teach them the basics? Here are 7 important lessons to instill in your kids about money:

1. Save something of what you earn

Acquiring the savings habit is one of the smartest things you can ever do. If you're reading this now as a middle-aged parent, imagine how much you'd have in the bank today if you'd saved 10% of everything you'd ever earned. (It's almost scary to think about, isn't it?) Teach your kids to save a little of everything they earn.

2. Don't borrow what you can't pay back

Debt is one of the greatest social diseases of our time. The price to pay for the "have now, pay later" philosophy is that you certainly will pay later. Debt imprisons you in a job you don't like, creates stress and anxiety in your life, and erodes your wealth creation program. You will never become rich while you're in debt. Period. Teach your kids the value of delayed gratification. "If in doubt, go without".

3. To give is to get

Managing money doesn't mean hoarding it and locking it away in its own purpose-built high security jail. It simply means being careful, spending wisely, and acquiring a regular savings habit. Teach your kids that donating money to worthwhile causes is a noble thing to do, and that the money returns to you in more ways than you can imagine.

4. Money isn't evil

"Money is the root of all evil" and "filthy lucre" are phrases you'll hear banded around. Ignore them. Money actually brings enormous good into the world. For example:

- Creating wealth helps create jobs for others
- Investing in business helps to bring solutions into people's lives by way of innovative products and services
- Acquiring a great fortune allows you to donate more money to charity - or even start your own trust fund

Teach your kids that money is neither good nor bad - it's what you do with it that makes the difference.

5. If you don't spend much, you can't lose much!

One of the oldest wealth-creation maxims is, "It takes money to make money". Unfortunately, it also takes money to lose money. Teach your kids the value of caution when entering into financial affairs. And let them know that many self-made millionaires started with literally nothing.

6. Get the best price for everything you can

Your financial health is really the difference between how much you earn and how much you spend. It therefore makes sense not to pay any more money for something than you have to. Teach your kids that bargain-hunting doesn't make you a "miser" - just a sensible individual.

7. The fast buck is your last buck

Sooner or later everyone gets offered a "surefire" method of making a fortune, whether it's the three-card trick, a once-in-a-lifetime investment plan, or some time-limited business opportunity only available to a select few... Don't fall for too-good-to-be-true scams. Teach your kids that wealth creation is a simple and timeless process based on common sense.

If you had learned the above principles when you were 10 years old, and had applied them every day of your life, would you be financially healthier today? You betcha!

Teach your kids the timeless truths of acquiring and keeping wealth. Knowledge truly is the most precious gift you can give. http://www.101moneymatters.com/personalfinance/things_to_teach_your_kids_about_money.php

Article Source: http://EzineArticles.com/?expert=Wilford_Hinchman http://EzineArticles.com/?7-Things-to-Teach-Your-Kids-About-Money&id=2994472

Today on USDCHF – Daily and H4 charts support Short trades.

On the Daily chart above, as anticipated yesterday, the bulls’ movement has been decisively halted, and price seems to have resumed its long term downtrend. The next major support level, where we expect the bears’ resolve to be tested, is the most recent Daily swing low – also the year-low – @ 1.0178 (which we’ve highlighted using the blue broken line). From a day-trade perspective, there seems to be enough room for us to seek Short trade setups on the Hourly chart – supported by the H4 chart.

On the H4 chart above, price has broken the most recent swing low @ 1.0305 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The white horizontal line @ 1.0357 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Is the bullish retracement ending so soon?

On the Daily chart above, since late September, price has been having a bullish retracement, in a downtrend. We anticipated that price would travel upward toward the upper edge of the downward or bearish channel before any major resistance. However, the most recent Daily swing high @ 1.0387 (which we've highlighted using the blue broken line) seems to be a strong resistance level that price is struggling to break upward – decisively: In the past couple of trading days, price had formed reversal candle formations (a doji & a quasi railway track) around the 1.0387 level. Consequently, price might be getting set to continue its downward move. To buttress a downward bias, price recently breached Friday’s low @ 1.0308 (not highlighted to avoid cluttered chart). In all, our current bias tends toward a bearish move, but the coast is quite unclear: conservative traders might prefer to refrain from taking trades, for now.

On the H4 chart above, price has broken a recent swing low @ 1.0336 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move. However, the current H4 price action strengthens our view that the coast is somewhat unclear: price is struggling to stay comfortably below the broken swing low. It would be much preferable to see a clean break before seeking an Hourly Short trade setup.
The white horizontal line @ 1.0435 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, for the more aggressive ones among us, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – NFP Rules.

Pls NOTE: Today is another first Friday, hence we expect the Non-Farm Payroll (NFP) report to have its impact on the general behavior of the markets. Again, as I’ve always said, today – as with most first Fridays of every month – is one particular day that trending method/pattern traders should be wary of trading most. Based on personal experience, early market hours are usually dull, afterward, usually around the news release, we have extreme volatility, which disrupts any recognizable chart patterns; hence, the entire trading day becomes virtually un-tradable.
While I’ll go ahead to give my personal analysis on the EURUSD pair, please, let’s bear in mind that, regardless of any technical analyses, NFP usually rules today.

On the Daily chart above, since price broke below the most recent Daily swing low @ 1.4610 (which we’ve highlighted using the upper blue broken line), our bias has turned bearish. Hence we expect price to travel further south toward the lower edge of the upward or bullish channel, where, currently, we also have a critical support level – a previous Daily swing high @ 1.4405 (which we’ve highlighted using the lower blue broken line).

On the H4 chart above, price has broken the most recent swing low @ 1.4574 (which we’ve highlighted using the upper blue broken line) downward. This automatically shifts our bias in favor of a downward price move. We would observe that price is also within a bearish channel on the H4 chart, and the coast seems quite clear for price to continue its southward trip toward the lower edge of the bearish or downward channel, which, coincidentally, also currently aligns with the 1.4405 support level (that we’ve highlighted using the lower blue broken line), which we discussed on the Daily chart.
The white horizontal line @ 1.4672 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF - Daily and H4 charts support Long trades, but…

On the Daily chart above, price is currently having a bullish retracement in a downtrend. We anticipate that price would travel upward toward the upper edge of the downward or bearish channel before any major resistance. The strength of the channel’s upper edge is buttressed by a cluster of old support levels (around 1.0550) – that we expect to now act as a critical resistance area – which might be forming a resistance-confluence with the upper edge. However, from a day-trade perspective, the previous day’s high @ 1.0449 (which we've highlighted using the blue broken line) might pose a threat to further upward price move, hence, it would be safer for us to see price break above the 1.0449 level before seeking Long trade setups on the Hourly chart – supported by the H4 chart.

On the H4 chart above, we would observe that price is in a bullish channel formation. There are a couple of previous swing highs that are acting as resistance levels within the channel; hence, to have a clearer coast for our Long trades, we would prefer to see price break above the upper edge of the upward or bullish channel, which would be confirmed by price break above the most recent swing high – also the previous day’s high – @ 1.0449 (which we've highlighted using the blue broken line).
The green horizontal line @ 1.0336 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.