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After sliding nearly 120 pips during today’s London session, the EUR/USD currency pair spent much of the New York session clawing back half of that drop. That euro recovery set up a 40-pip short trade, which came together during the hour before the London close.
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Eurozone-centric rumors were running rampant today on the news wires. From China getting cold feet about euro bond purchases, to SNB diversification out of euros, to problems at Spanish banks, virtually nothing the media dished out today seemed positive for Europe’s common currency. The EUR/USD currency pair fell nearly one penny after the US equity market open.
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In contrast to range-bound conditions seen in today’s previous sessions, a breakout move by the British pound at the New York open, a surprise rate cut by the Bank of Canada, and a rally in US stock indexes at the New York equity market open brought the foreign exchange market to life. Conservative trade entry strategies, plus the patience to let the moves unfold, yielded a plethora of pips during the New York session. The final tally: 130 pips on GBP/USD, 140 on EUR/JPY, 200 on GBP/JPY, and 50 on a USD/CAD news trade.
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Yesterdays trades ran for 100-200+ pips depending on your entry The GBPUSD had a nice run yesterday. It has all had enough of a pull back over the late New York session that we have three nice possible trade entrys.Please take a few minutes to view the following video for the trade setups that we are looking to develop. Thank you for viewing our forex training video. Yesterdays trade ran for 200+ pips see yesterdays video The EURJPY just killed the trendline we had and gave us a great trade. We have two possible trades that we are watching for to develop in the up coming sessions. take a few minutes to view the following video for the trade setups that we are looking to develop. Thank you for viewing our forex training video. www.forexactivetrader.com www.fxdailytrades.com
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Tags: 30th, ASIAN, Forecast, Forex, GBP/USD, London, October, Sessions, USD/JPY, VIDEO, York
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