… Taken from my Weekly Outlook Report February 22~26, 2010… After this analysis we saw perfect SELL entries on both EUR/USD close to 1.3700 and GBP/USD 1.5580 area… If you had a chance to read this report before the drop, you’d have been on the right side of the market.
Written on 02/21/2010 just before the risk aversion sentiment on Monday/Tuesday
Last week’s most notable news was probably the surprise rate hike by the Federal Reserve on its discount rate, from 0.50% to 0.75%, which raises the costs of borrowing from banks to other banks. This is not to be confused with the Federal Funds rate, which still remains at the current level of 0.25%.
This is a preview of Forex Market Analysis for the week of 02/22/2010. Read More...
Here is a trade that I took earlier on today based on a few different reasons, but primarily on Market Cycle. Judging from the levels of GBP/JPY at the time of entry and combining with my overall long-term outlook for this pair, and just the general fundamental outlook for the Sterling (GBP) this week, I felt very confident in taking this trade and seeing it to profit in less than 2 hours.
If you have a couple of minutes to spare, make sure you watch the video below as I show you the basics of Market Cycle trading.
This is a preview of Catching GBP/JPY Off Guard – 07/20/09. Read More...
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