Daily Technical Update: GBP/USd, EUR/USD, EUR/GBP Update Provided by FX Times/CMS Forex www.fxtimes.com http Analyst: Fan Yang, CTA
Today’s London session had proven to be ranging a good bit, with very little overall follow through of any moves. Even so, in this video we highlight how we used a drawn trendline break on the EUR/USD to build a trade plan. Correlation with the USD/CHF bouncing off it’s own trendline at the same time as the EUR/USD break was ideal confirmation of the break being legitimate. Then simply applying a Fibonacci retracement study from support at the 1.26 support area to the high of the break at 126.47, provided a nice 38.2-50.00% Fib entry zone of 1.2630-1.2625. This Fib zone was also the break area of the previous trend line which was an ideal situation of role reversal (resistance becoming support) along with the Fib level itself. Also it happened to be the Daily Central Pivot Point, and Weekly m3 pivot point. So lets see, break of all this resistance, following by a pullback/retest of this area which overlapped perfectly with the ‘ideal’ Fibonacci retracement zone.. Hmm, Yummy. Ultimately the EUR/USD returned to the 38.2 at 1.2630 then proceeded to immediately make it’s way to the 15m 200 EMA 50 pips away. Not an amazing amount of pips for a trade plan, but 50 pips for 20’ish pips risk (stop below the 78.6), right off support, works for me anytime. For a somewhat difficult London session take what you can get yes? FXBootcamp London Currency Coach- Christian Stephens
Daily Video Technical Update: EUR/USD, GBP/USD, GBP/JPY, USD/CHF Update Provided by FX Times/CMS Forex www.fxtimes.com http Analyst: Fan Yang, CTA
The EUR/USD slid to 1.3280 in today’s trading as overnight pressure built on Greece. The country’s stocks and bonds fell as the risk premium demanded by investors continued to rise. The Euro did manage to pare its losses in NY trading. In other news the BOE held rates steady and posted some strong production data while US jobless claims came in higher than expected. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.
Although the EUR/USD managed a net move of just 2 pips from New York open to London close, there was an opportunity for a conservative and moderately profitable trade on the currency pair. Japanese yen strength, a theme seen broadly during today’s Asian session, returned at the start of the session, pulling the EUR/JPY pair down 100 pips. A weak British pound dragged the GBP/USD down nearly 200 pips following chancellor Darling’s pre-Budget report.
Daily Video Technical Update 2/16/2010: EUR/USD, GBP/USD, AUD/USD, GBP/JPY Update Provided by FX Times/CMS Forex www.fxtimes.com http Analyst: Fan Yang, CTA
Recap: The EUR/USD slid below 1.3350 in today’s trading continuing its decline from the beginning of the week, while the EUR/JPY was testing the 125 support level. The Pound and Aussie consolidated in today’s trading, while the Canadian Dollar gave back some recent gains after touching 0.9750 against the greenback. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.
Recap: The Aussie pushed to its highest level against the US Dollar since mid-January as the RBA hiked rates to 4.25%. Greek bonds and credit default swaps came under renewed pressure following the return of European traders from holiday and the EUR/USD fell to the 1.3350 area. The USD/CAD hit parity, the USD/JPY receded on lower US Treasury yields, and the GBP/USD managed to win back its losses from the overnight session. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.
Technical video briefing of the EURUSD 4TH JULY 09 brought to you by TadawulFX
A new month…and a new trend. Forecasts and setups for the EURUSD, AUDUSD, EURJPY, and AUDJPY. Equities are headed MUCH higher in the next 6 weeks.