Tuesday, March 27, 2012
We started today's webinar by discussing the reasons for the risk on sentiment in the market and yesterday's rally in the EUR/USD pair. Over the last few weeks, it appeared that any extra stimulus or QE3 from the FED was entirely priced out of the market and out of the dollar trade. However, on yesterday, Fed Chairman Ben Bernanke uttered some dovish statements at the National Association Of Business Economics, stating that the economy needs to grow more quickly, and without growth, unemployment will remain elevated. Many analysts took this as a sign that rates are going to stay low for now and that QE3 is not entirely off the table. The currency pair had rallied 176 pips and the Euro reached a 3 week high against the USD. This was done despite the resurfacing of sovereign debt issues in Spain & Portugal.
In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and the fundamental news pushing market prices. We also place a few live trades using the Slumdog Forex trading system.
Wednesday, March 28, 2012
During today's trading session, the EUR/USD pair traded within a 96 pip range and ended flat after paring some of it's losses from earlier in the trading day. In today's technical analysis review, we will briefly explain the price action in the EUR/USD pair and identify common areas of support & resistance for potential trade entries.