FOREX VIDEO REVIEW: London Session July 10th, 2009

Source: blogs.fxstreet.com

Asia into London found us simply continuing the recent Japanese Yen strength against all comers. While shorting any of the Yen pairings was very viable, in this video I highlight how we built a trade plan around shorting the Eur/Jpy just after the London market opened, which ultimately reached our target of today’s M1 reversal pivot point. This completed a 38.2 Fibonacci to a 161.8 Fibonacci extension on today’s London trading, daily m1 pivot point, and overall 78.6 Fibonacci retracement level on the daily chart from the low two days ago. All of this overlapping support made it an easy profit take at this point, we will see what happens after the NY morning. Fitting end to a fantastic week of trading, have a great weekend! FXBootcamp London Currency Coach- Christian Stephens


Read more...

  • Asia Triple Play for 2012: Income, Quality and Growth

    Asia Triple Play for 2012: Income, Quality and Growth by Carl Delfeld, Investment U Senior Analyst Thursday, January 5, 2011: Issue #1680...

  • BOE economist Dale: Inflation targeting needs tweaks

    Inflation targeting should be retained but enhanced, says Bank of England economist Dale. As it is currently operated, inflation targeting is insufficient. Robotic inflation targets proved very poor monetary policy mechanism a year ago as inflation ramped higher and economic growth collapsed...

  • EUR/USD steady just under 1.4900

    Sources report a Japanese bank as a notable seller of EUR/USD just ahead of 1.4900. Also selling interest has been seen out of Eastern Europe. Still seems only a matter of time before 1.4900 blown up though. Above there, good mix of sell interest and stops noted between 1.4905 and...

  • Cable slump extends as stops triggered

    Well looks as though there were decent-sized stops below 1.5850, as suspected. We’ve moved quickly lower, presently at 1.5810. Technical supports lined up at 1.5800/05, 1.5775 and 1.5750/55. Risk sentiment isn’t in good shape this morning, S&P futures off 7 points, and this will be...

  • Lockhart sees second-half recovery; Fed will meet inflation objective no matter the environment

    Atlanta Fed President Lockhart, a relative hawk, frets that some of the bond rate back up in recent weeks is tied to the fear that the Fed will monetize the debt. He warns that fiscal imbalances will make the Fed’s pursuit of stable growth and prices more difficult. US equities are firmer and...