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EUR/USD Technical Analysis January 26, 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Thursday, January 26, 2012
EUR/USD Daily Technical Analysis For Thursday, January 26, 2012
By: Marvin P.

Thursday, January 26, 2012

For the past 2 days we have been in a risk-on rally in multiple asset classes, due to news coming out from the FOMC meeting that they had agreed to keep interest rates near zero until the end of 2014. This announcement not only surprised the market but raised the expectation of the FED leaving a door open for more quantitative easing.  Investors priced in this expectation as we saw bullish momentum in equities, commodities, and higher yielding currencies. We saw a 252 pip climb in the EUR/USD pair and it found resistance at 1.3184.

In today's technical analysis video, we will also identify trade entries around support & resistance levels.


Forex Trading On January 26, 2012

Click Here To Watch Video Live Webinar From Thursday, January 26, 2012
Live Webinar From Thursday, January 26, 2012
Video Running Time:1:01:08
By: Melvin P.

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.


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