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Another day that we’ve hit the 161.8% extension of yesturdays trading range BEFORE the London Session openned. Last time that happened, price eventially extended to 261.8% Using Support & Resistance along with Stochastics was critical today. © 2005 All Rights Reserved. www.FxBootcamp.com
Video Rating: 4 / 5
As the London session opened up, the Asian fade had taken the Eur/Usd down to the 1.5520 area. At first as the 55ema on the 15m seemed to take control it seemed we may be about to make some lower lows. However, with the Usd/Chf starting to break down, and the Eur/Usd 1m & 15m [...]
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It was a thin forex market today, however the USD had been losing ground all night. Therefore, everything pointed up for the EUR/USD. With such thin forex markets, its best to keep your analysis simple and conservative. A 50% Retracement pointing to a 121.4% Extension is a text book example…
Video Rating: 4 / 5
A rebound in the US dollar, in combination with increased pressure on the British Pound after the BOE’s MPC meeting minutes revealed an unexpected member in the dovish camp, weighed heavily on the GBP/USD during today’s New York session. The retracement to an overlap of a 38.2% retracement level and the 21 ema on the [...]
The forex headline number for Non Farm Payrolls was bad today. So the EUR should skyrocket… right? Wrong! Why did the USD strengthen after a terrible NFP release? Last month was revised upward by 60000 jobs. Professional FOREX Traders expected a poor NFP, but no one saw this huge positive revision coming. Boom! As a [...]