Tuesday, June 26, 2012

Most of today's trading session has been marked by thin or lighter trading volume as investors sit on the sideline & patiently wait to hear whether EU policymakers will come up with some viable solution on how to solve the Eurozone Debt Crisis at this week's EU Leader's Summit. On yesterday, the Spanish government officially requested a bailout for their troubled banks and this resulted in 28 of their banks being immediately downgraded by Moody's Investor Service. As a result of this rating downgrade, Spanish bond yields climbed higher for the 10-yr paper, which put pressure on the EUR/USD pair and a few other euro crosses. There have also  been recent talks about the development of a fiscal union, which would be an attempt to enforce monetary & economic governance for the entire Eurozone as a whole. But, nations like Germany, Finland, and the Netherlands are directly opposed to this form of integration because it would require them to alter their constitutions & relinquish some of their sovereignty to a centralized budgetary group in Brussels.  Many investors believe that this move towards a fiscal union is very unlikely to happen anytime soon, but the formation of a banking union is an adequate first step towards this goal. The EUR/USD has been sliding lower and had fallen 74 pips and found support at 1.2455, where price began to retrace and rally during the 2nd half of the trading day.

In today's V.I.P. webinar, we discussed the current price behavior in the EUR/USD pair and looked for opportunities to place a live trade using the Slumdog Forex trading system.

Thursday, June 21, 2012

In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and the fundamental news pushing market prices. We also place a few live trades using the Slumdog Forex trading system.