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Non farm payrolls “high volitility event driven continuation breakout strategy” employed during a live webinar at fxstreet.com with close to 1000 registered traders. Headline numbers were “less good” and created a bullish opportunity on the EUR/USD, as the EUR/GBP was also bullish after the news. We used price action, resistance and then a fibonacci pull back for possible entry. An S1 low pivot offered a R1 profit target. www.fxbotcamp.com Live FOREX Training EVERYDAY!
Hi everyone. Aside from the Yen, which lost a lot of ground after newly appointed Japanese finance minister Naoto Kan said he prefers the Yen to continue its current decline, the markets remained within ranges, most likely waiting for the NFP release later today. We do expect the data to possibly cause a breakout, and in our case, we dont care in which direction. The 1.42 level has held nicely and most recently the 1.4300 figure on EUR/USD. Fundamentals are mixed all across the world, except in Australia, where retail sales jumped to 1.4% last month, much higher than the anticipated .4%; however, if you take a look at historic figures, the data is very volatile and should be taken with a grain of salt. We favor a break below 1.4200 to test 1.4000. Were setting this up for the News! Trade service. If youd like to see how we trade the news, please register at the following link: www2.gotomeeting.com News! Trade: Trading Non-Farm Payrolls Live When: Friday, January 8, 8:00am US Eastern time (2:00pm Amsterdam, 5pm Dubai, 10pm Tokyo) We look forward to seeing you there. Until then.
Euro bulls were nowhere to be found during today’s EU Summit held to discuss Greece’s debt problems. The EUR/USD currency pair fell more than 100 pips during the 4 hours between the New York open and the London close.
I made a hedged trade today on the EUR/USD currency pair. I was able to get 60 Pips Long, which was a 00 profit at 2 lots. The Short trade ended up -42 Pips for a 0 Loss. So the net result was a 0 Profit. The great thing about the Hedging Strategy from the Simple Forex Trading Course is that it really reduces risk. You also do not have to worry which way prices goes when you first enter a trade. This reduces stress and makes trading the market a so much easier!
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Mar 10 2010