Tuesday, January 10, 2012
For the past two days we have been in a corrective rally as a result of short covering. But, now the pair appears to be well contained below resistance at the 38.2% Fibonacci retracement of the last major leg down. This may be a sign of bearish continuation, which means that we should look for an opportunity to re-position on the short side of the market.
I am sending you a video of today's technical analysis review for the EUR/USD currency pair and my view on what price will do ahead of Thursday's ECB meeting and Italian & Spanish Debt Auction. You will hear a brief review about the price behavior of the EUR/USD currency pair, known areas of historic support & resistance, and good trade opportunities you could have placed during the trading day.
Thursday, January 5, 2012
During today's London & New York Trading Session, we saw the EUR/USD pair slide ~173 pips to a brand new low of 1.2770, which is now serving as support. The Euro weakened across multiple crosses, which proves that the 2 day sell off was primarily about fears over European Sovereign Debt, rather than US dollar strength.
Will we continue to see further declines during the Asian Trading Session or will we see more thin trading volume & range-bound activity ahead of Friday's Non-Farm Payroll Report? In today's video, you will hear a brief review about the price behavior of the EUR/USD currency pair, known areas of historic support & resistance, and good trade opportunities you could have placed during the trading day.