Tuesday, March 6, 2012
The major theme for today was risk aversion or flight to safety in the market as we witnessed a 123 pip decline in the EUR/USD currency pair from its session high of 1.3226 to the session low of 1.3103. We saw weakness across multiple asset classes, like equities & commodities, as investors fear the likelihood of recession in the Eurozone, poor global growth, and concerns over the Greek PSI agreement. The EUR/USD pair is currently in consolidation above the 1.3100 psychological zone ahead of the Asian Open.
In today's technical analysis video, we discuss price action within the EUR/USD pair and identify trade entries around common areas of support and resistance.
Monday, March 5, 2012
In today's video, we discuss price action in the EUR/USD currency pair, which was marked by lower trading volume ahead of multiple central bank meetings and the Non-Farm Employment Report scheduled for later in the week. The euro had only rallied 82 pips from its session low at 1.3160, as a result of short covering or profit taking, and price is well contained below the 1.3240 resistance zone. The EUR/USD pair is currently in consolidation ahead of the Asian Open. In today's technical analysis video, we will identify various trade entries around support & resistance levels.