Thursday, January 26, 2012
We started this webinar by discussing yesterday's FOMC meeting and their decision to keep interest rates near zero until the end of 2014. This accomodative stance may signal to the market that the FED are considering the possibility of implementing another round of QE or Quantitative Easisng soon. As a result of this FOMC announcement, we are seeing strong risk appetite & dollar weakness across multiple currency crosses. For the EUR/USD pair we are expecting price to rally up to the 38.2% fibonacci retracement level at 1.3244 as approaching resistance.
During the second half of this webinar, we also placed a few live trades using the Slumdog Forex trading system.
Monday, January 23, 2012
During today's trading session, we saw the EUR/USD reach a 3 week high as the pair rallied for ~175 pips on renewed optimism regarding a Greek debt restructuring deal and lower sovereign debt yields. Is this just a correction in the market or will we continue to see a bullish extension in this currency pair? I have created a brief video about today's price behavior for the EUR/USD pair.
In today's video, we will identify trade entries around support & resistance levels.