In this Weekly Forex Previw video class, we take an in depth look at the Forex Market and the EUR/USD,Euro, theBritish Pound GBP/USD and the Japanese Yen, USD/JPY in this Forex Trading Video. We will go over all the important levels to consider such as Fibonacci Retracement levels related to Elliott Wave theory and provide Technical Analysis insights for the coming week, along with all the high impact Forex News Events that can move the Forex Market this week. Please visit FXReturn.com and Sign Up for a Subscription or a Special 2 Week Trial to our LP Intraday Trading Forex Signals and our TON: Trade On News Software for Trading High Impact News Events through the Auto Click feature. Please visit www.FXReturn.com Today !
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The EUR/USD, which had been rising since the London open, managed to make a higher high during the first hour of today’s New York session. However, technical and fundamental analysis suggested that the recent rise might be merely a correction in the drop which began the previous day. The euro’s rise ended at exactly the 50% Fibonacci retracement level of that drop, and the continuation which followed produced a classic three-wave impulse pattern which reached the daily S2 pivot point at the London close. Those traders who took the shot and let the euro run, were rewarded with a 200-pip profit.
At the open of today’s European session, major central banks announced a coordinated move to improve liquidity conditions in the global financial markets. The EUR/USD rose in response and managed to break above resistance of the 100-pip range which had defined the pair’s previous 12 hours of price action. A 100-pip trade was the outcome for traders who executed a long trade entry at the re-test of resistance, then took profit at the daily M4 pivot point.
www.forexforum.gr is the place were you can find free trading systems and the results for almost 9 months now, from Northern Lights Strategy. In http you can find more information about Northern Lights Strategy method.In www.forexlegion.com you can find our basic forex school in Greek language.More languages on the way. Franfurt today was choppy so I close the trade at breakeven.Then I have wait for the London open and the breakout move along with my tools and filters. It seems we hit a bulls eye. Thank you for watching
Since the weekend I had spoken in length in the London FXBootcamp session about seriously developing 4hour MACD divergence on every Japanese Yen pairing I could pull up. About a third of the way into today’s London session we began to see hints of a change in direction, such as USD/JPY having an hourly lower high, then breaking it’s recent price trap’ support level in the 15m chart. In class we covered the trade plans for shorting the GBP/JPY, EUR/JPY, and USD/JPY, and any trader could have done the same on any or even a basket of JPY pairs. In this video however, I will cover just the GBP/JPY. I will discuss and show in detail what caused us to both look for the short ‘clue train’ in the first place, and ultimately the actual entry/trigger criteria we used to short the GBP/JPY , risking just 20 or so pips, amounting to a fairly painless ride to just over 100 pips, before offering another pullback for an additional 90 pips reload. Very nice trading session indeed for London, certainly well deserved after the choppy sessions we have seen of late in the London time frame. FXBootcamp London Currency Coach- Christian Stephens
Pound Slides on BOE Kings Comments Tuesday – November 9th, 2009 Recap: The Pound fell in todays trading as Bank of England Governor Mervyn King said that the Monetary Policy Committee has a completely open mind as to whether we would do more asset purchases. That went counter to market expectations and pressured the Pound. The greenback managed to gain on the Euro, though it slid against the Canadian Dollar and the Australian Dollar hit a new 2009 high. News Provided by CMS Forex www.cmsfx.com Analyst Nick Nasad Open up a free practice account and start trading Forex today.
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