Monday, June 23, 2014
We started today's trading webinar with a brief recap of the technical issues surrounding our website transfer, and our evident "resurrection", after being "dead" over the past two weeks. We also outlined our plans to provide additional value for our V.I.P. Members, with new training and resources within the next few weeks.
On the Forex side, we discussed the current complacency in the market, especially in EUR/USD, caused by the absence of a true market catalyst, which is primarily due to the lack of eagerness among central banks and their monetary policy. But, this was not the only reason for the dismall price action among asset classes. We are also entering the beginning of summer doldrums, when lower participation produces a drain in volume & volatility, causing currency pairs to move within a tighter-than-usual trading range.
In today's V.I.P trading webinar, we conduct technical analysis for a few currency pairs and identify areas of support & resistance for trade entry.
Tuesday, June 10, 2014
The absence of significant economic releases in the Eurozone, and scarce volatility in global markets combined to leave the EUR/USD pair vulnerable for another trading session. We continued to see another bout of pressure applied on EUR/USD as investors sought for higher yield in dollar-denominated assets. The yield spread widened between US treasuries and Eurozone peripheral debt, making the greenback more attractive. With Spanish yields declining below those of US 10yr rates, the Eurozone debt market offered little value to investors, creating outflows that put pressure on the euro currency. There was also simultaneous improvement in the US benchmark 10yr rates that settled above 2.60%, which kept the buck well bid.
In today's trading session, we saw the common currency fall 68 pips in comparison to the US dollar from the session high of 1.3602 to the session low of 1.3534. The pair is currently in consolidation above today's session low.