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Forex Trading Webinar On October 9, 2012

Click Here To Watch Video Live Webinar From Tuesday, October 9, 2012
Live Webinar From Tuesday, October 9, 2012
By: Melvin P..

Tuesday, October 9, 2012

When trading in thin volume & low volatility environments, any type of rumor or false news can create such a huge market response or over-reaction, that it can prematurely push the price of asset classes into overbought or oversold territory. During today's price action for the EUR/USD pair, we saw this exact scenario play out earlier in the European trading session. About 30 minutes following the European Open, there was false information released that Spain's 10-yr bond yield breached above the 6.00% level. This news caused strong selling and flight to safety in the EUR/USD pair that pushed price towards the 1.2900 psychological level. It was later discovered that the group who released this false information had been looking at the wrong bond issuance for the Spanish 10-yr paper and later retracted their statement. However, the damage had already been done. The EUR/USD eventually pared some of it's losses on a deep retracement towards resistance at 1.2960, but continued its decline on the backdrop of statements released by ECB President Mario Draghi about further weakening in the Eurozone and also the World Bank's lower growth forecast for China with a revised 7.7% GDP projection for 2012.

In today's V.I.P. webinar, we discussed the current price behavior in the EUR/USD pair and we also attempted to place a few live trades using the Slumdog Forex trading system.


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EUR/USD Technical Analysis For July 11, 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Wednesday, July 11, 2012
EUR/USD Daily Technical Analysis For Wednesday, July 11, 2012
Video Running Time:00:06:06
By: Marvin P.

Wednesday, July 11, 2012

We had an interesting trading session as the market shifted from risk appetite during the Asian & European trading session to risk averse during most of the US session. Today's trend was primarily bearish with euro weakness driving most of the market movement, in both equities, commodities & other asset classes. We saw the EUR/USD currency pair fall 84 pips from the session high at 1.2297 to session low at 1.2213, which formed a new low for the year.

In today's technical analysis video, we will briefly explain the price action in the EUR/USD pair and identify common areas of support & resistance for potential trade entries.


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