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Forex Webinar For January 28, 2014

Click Here To Watch Video Live Webinar From Tuesday, January 28, 2014
Live Webinar From Tuesday, January 28, 2014
By: Melvin P.

Tuesday, January 28, 2014

Today's price action in currencies was the result of a mixed batch of US economic data that kept the EUR/USD pair, along with a few other dollar crosses, contained within a rangebound pattern ahead of tomorrow's FOMC announcement. We had weakness in the Durable Goods Number which had fallen 4.3% in December, and this news raised concerns over the growth
outlook for the first quarter.

However, these concerns were eventually removed by the later rise in consumer confidence and housing prices. Consumer confidence hit a five-month high in January and housing prices posted their biggest gain in almost eight years.

The EUR/USD is still trading within a range, but with a slightly bearish bias as investors remain flat ahead of key risk events later this week.

The event that is having an immediate impact on the pair is the FOMC statement, where there are expectations that the Fed will proceed with accelerating the tapering of its stimulus program, by an additional $10 billion to $65 billion per month.

This is producing strength in the greenback against a basket of currencies, as US Treasury Yields make their climb higher.

In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and the fundamental news & events pushing market prices. We also searched for opportunities to place a few live trades using the Slumdog Forex trading system.


Forex Webinar For January 23, 2014

Click Here To Watch Video Live Webinar From Thursday, January 23, 2014
Live Webinar From Thursday, January 23, 2014
By: Melvin P.

Thursday, January 23, 2014

Today's price action in the currency market was driven by strong fundamentals coming out of both Asia and Europe. During
the Asian Trading Session, the China HSBC Flash Manufacturing PMI reported a month of economic contraction by coming in at 49.6, which is its lowest figure in six months. The fall in China's PMI reading is due mostly  to cooling domestic demand conditions. Softening growth momentum for manufacturing/factory sectors are weighing on employment growth, in both the manufacturing and services sector. This news weighed heavily on Asian equities & the Aussie dollar, that resulted in a negative handover of this bearish sentiment into both the European & US Trading Sessions.

However, a slew of good PMI numbers from the Eurozone helped to restore hope in the common currency (euro) and we saw it rally across multiple euro crosses, except for the EUR/JPY. So, far, the EUR/USD pair has rallied 169 pips for the entire trading session.

In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and the fundamental news & events pushing market prices. We also searched for opportunities to place a few live trades using the Slumdog Forex trading system.


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