|
||||
|
Last night I posted a video of the trade setup I used to catch yesterday’s break from the range with a decent selloff and scored some easy pips. I also mentioned my analysis for today and why I was predicting another decent rally on the EUR/USD. So I feel the need here to toot my own horn and brag a little, as we’ve seen the euro rally from last week’s low of 1.3385 to a fresh session high at 1.3543 and the pair has taken back all the ground lost on Tuesday’s selloff. As I went over briefly in yesterday’s video, this rally might be attributed to the end of the month flows that several fundamental forces produce. One of Continue reading–>EUR/USD Wrap Up for March 31 First thing this morning at the London open I managed to catch cable breaking the 1.50 barrier. The trade it’s self is fairytale textbook, price breaks, price retraces to previous resistance, price moves higher, trader lives happily ever after. Had a very tight stop of 10pips because of the possibility of a false break at this level, a rinse and wash as the city boys call it, but no it got a clean breakaway. Continue reading–>FOREX DAWN| Cable Breaking 1.50 Not a lot happening for me this Monday morning European session, just a quick rundown of what I’m looking at: USD/JPY is in a 40 pip range that I’m waiting for the breakout. EUR/GBP is in a 35 pip range, again looking for the breakout on that. Price alerts are set so I don’t have to keep looking at the screen and can get on with other stuff. Cable has pushed up to that 1.50 level again, but for now lacks the power to stay above it. George Richards is our guest analyst and runs his own blog found at forexdawn2010.blogspot.com The dollar lost ground across the board today, but it’s nothing major as of yet. Probably a mix of reactions concerning the recently announced EU Greek debt plan and what effect it will truly have other than a temporary rebound in risk appetite. Fitch announced today that it has decided to maintain its negative outlook regarding Greece’s financial security calling for clarity on Greece’s financing strategy. They went on to state that the EU statement of support for Greece is positive for the their credit profile but they are maintaining their negative outlook due to uncertainty of fiscal adjustment within Greece. News from Moscow regarding the terrorist attack might have given the Continue reading–>EUR/USD Consolidates Here’s a great visual demonstration of some of the trade setups I used to make money this week on the EUR/USD. Check it out!
As I stated yesterday, a deal was in the works that would finally be unveiled overnight regarding a Greek bailout. I also mentioned “Once the deal gets made public, watch for the more “European” the deal, the better for the euro and the larger the IMF role, the worse it will be.” Well the details that have emerged thus far put the ratio of funding sources at 2/3rd by EU and 1/3rd by IMF. Thus a small rally has ensued today to end the trading week. The mechanism will only be triggered if Greece cannot get market funding by itself which will eventually happen one way or another. An interesting point to Continue reading–>Greek Deal Is Made
***UPDATE: well this is becoming a bit of a bad habit lol! so the price came looking for my stop….. and found it. As I type the trade would have been up another 40pips, some work to do I think. Still I always wanted this blog to be a true reflection of my trading and I certainly won’t be posting just the “Disney” trades where everybody lives happily ever after. The reality is that we, or at least I need to keep a constant eye on things like this to make sure that there isn’t a problem trying to sneak in by the backdoor. There is a fine line between maxing Continue reading–>Forex Dawn| LIVE! Breakout Trade The EUR/USD sunk lower during Asian and early European session hours thanks to deputy governor of the People’s Bank of China Zhu Min, who said the Greek debt crisis was just the beginning, prompting another short-term sell-off and triggering stop-loss orders at 1.3300 that sent the euro to a 10 month low of 1.3285. As I write this the EUR/USD has dropped to 1.3277 and we could very well see this thing drop to 1.3100 which I predicted seeing happen back in February. The Euro will more than likely remain volatile as currency markets focus on the European Union summit that begins today in Brussels with its primary goal of a solution to the lingering debt crisis in Greece. There are Continue reading–>EUR/USD Wrap Up for March 25th |
||||
|
Copyright © 2012 FOREX-NATION - All Rights Reserved 
|
||||
Most Popular Posts