Monday, April 2, 2012
During today's trading session, the EUR/USD pair traded within a 102 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.
Thursday, March 29, 2012
The Eurozone Sovereign Debt story is coming back to the surface again and now the focus is on Spain. According to the Bank Of Spain, the Spanish economy has entered its 2nd recession with signs of economic contraction continuing throughout the year. The slippage in Spanish GDP forecasts is causing much investor concern, which is raising borrowing costs for Spain and putting pressure on the EUR/USD currency pair. Radical structural reform is needed in Spain and there are talks of 40 Billion Euro of cuts in their budget. Their budgetary plans will be revealed on tomorrow and the focus will not be on what measures are taken to become more austere, but whether they will meet their 2012 fiscal targets.
In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and we also place a few live trades using the Slumdog Forex trading system.