Hey folks,
Here is the video:
07-10-2009.swf
In currencies, EUR/USD and GBP/USD continue to consolidate within their June ranges, and they'll likely continue to take their cues from stocks, risk aversion and bounce around within their ranges unless we have a big meltdown of risk aversion, a bit melt-up in risk appetite, or a new development on the USD as a reserve currency front comes into play. Until then, I'm looking to follow momentum when it develops and swing trade the 4 hour chart at support and resistance as I discuss in the video.
The down trends are looking good on stocks, gold and silver so far. Remember though, there exists the potential for a good short/medium term bounce in all 3, so make sure you're not too overleveraged and can't survive such a bounce if you're short. Watch the video for more details and ideas about those markets.
In news Thursday, the BoE decided to leave their Asset Purchase Facility unchanged at £125 billion which was very GBP bullish, and we saw a quick 80 pip spike, steep retracement, and then eventual run back up... so it was good price action... challenging, but profitable from a few different angles. On Friday:
0700 CAD Employment Change (-35K expected) - This indicator used to be HUGE but lately has only managed smaller moves even on bigger deviations. It also has a nasty habit of retracing all or most of the way back to the prerelease price, so look out for that or use it as an opportunity.
If it comes out at -15K or higher, USD/CAD should sell off 40 pips.
If it comes out at -55K or lower, USD/CAD should rally 40 pips.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
Here is the video:
07-10-2009.swf
In currencies, EUR/USD and GBP/USD continue to consolidate within their June ranges, and they'll likely continue to take their cues from stocks, risk aversion and bounce around within their ranges unless we have a big meltdown of risk aversion, a bit melt-up in risk appetite, or a new development on the USD as a reserve currency front comes into play. Until then, I'm looking to follow momentum when it develops and swing trade the 4 hour chart at support and resistance as I discuss in the video.
The down trends are looking good on stocks, gold and silver so far. Remember though, there exists the potential for a good short/medium term bounce in all 3, so make sure you're not too overleveraged and can't survive such a bounce if you're short. Watch the video for more details and ideas about those markets.
In news Thursday, the BoE decided to leave their Asset Purchase Facility unchanged at £125 billion which was very GBP bullish, and we saw a quick 80 pip spike, steep retracement, and then eventual run back up... so it was good price action... challenging, but profitable from a few different angles. On Friday:
0700 CAD Employment Change (-35K expected) - This indicator used to be HUGE but lately has only managed smaller moves even on bigger deviations. It also has a nasty habit of retracing all or most of the way back to the prerelease price, so look out for that or use it as an opportunity.
If it comes out at -15K or higher, USD/CAD should sell off 40 pips.
If it comes out at -55K or lower, USD/CAD should rally 40 pips.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
................................
