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Forex Daily Report 8-29-2014

Forex Daily Report 8-29-2014

USD/CAD was down 0.03% at 1.0858, up from a session low of 1.0811 and off a high of 1.0863. The pair was likely to find support at 1.0797, the low from July 29, and resistance at 1.0998, the high from Aug. 25. EUR/USD was down 0.20% at 1.3156, up from a session low of 1.3155 and off a high of 1.3196.
The euro was weak against the pound, with EUR/GBP down 0.21% at 0.7930, and down against the yen, with EUR/JPY down 0.03% at 136.69. German retail sales declined 1.4% in July, disappointing expectations for a 0.1% rise, after a revised 1.0% gain in June.

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Traders often fail because they don’t learn from mistakes. Keep a diary of trades to discover what works and what doesn’t.   Setting limit orders and stop/loss orders takes emotion out of the equation and ensures trading discipline.   Trade small amounts when you are a beginner. Grow your account balance through profits, not deposits. ...