Day Trading Forex Live – Learn To Trade Pro Forex Strategies


Daily Analysis of EUR/USD, GBP/USD September 30, 2013

We start the week with the Euro getting smashed across the board due to a few things happening over the weekend. The US has the coming government shut down being a small factor for now along with turmoil in Italy and Greece being the main factors. If the US can pull a rabbit out of their hat it might help somewhat but the way Europe is looking at the moment the Euro will continue to weaken. They probably want it that way with the EUR/USD at these levels but the means at which they are weakening it does seem strange. There may be more events coming up since the Italian story is far from over. I also have a feeling the US situation wont go away any time soon either so the EU will probably be acting a bit strange in coming days.

Having said that my first expectation is the 30+ pip gap will close at least to the 1.3514 level but so far it seems that the conviction to the downside is holding during the Asian session with the psych 1.3500 holding well. Therefore we  may only get the stop run above there before the continuation. If price leaves the Asian box close to its highs they will probably run it higher but the closer to the lows it is the higher the chance we only get the stop run above the Asian highs.

Again with the US having its own problems this pair also has a good chance of staying in this range so the long from around 1.3471 or just below around 1.3463 has most likely higher probability than a break down below the lows today. If I do get in a long position I will be taking the profit between 40 and 50 pips expecting the range to hold. The hourly 200 is also hanging around those lows which gives some confluence for the long also.

EU 1hr chart 9-30-2013

To Learn More About The Secrets of The Mega Banks Check out What is Included in Our Lifetime Membership Here

The GBP/USD is showing some strength this morning testing over all highs at 1.6167 which in indicative of the USD and Euro getting weak at the same time so this will be the pair I watch closest today. Since it does have three pushes to the upside the reversal has the highest probability but if it does run around 50 pips from the highs to 1.6133 or even better the 1.6320 level I will consider a long with the GBP strength. Otherwise I will be looking to short from a stop run to the highs looking to see the run for around 50 pips on the reversal.

If we get the conviction above the highs during the London session I will long for the long around Fridays highs.

GU 1hr chart 9-30-2013

Forex News Today

The calendar looks rather busy today but all the scheduled releases are low impact other than European CPI data and US Chicago PMI figures. Considering this the chance that we get more manipulation worthy tape bombs from either direction has a higher probability. So I will be keeping an eye out for that today. There is the chance a large miss on the two events mentioned will move the big boys so I will still be cautious around those times.

Happy Trading


If you have questions about joining Day Trading Forex Live and becoming an active member please feel free to contact Robin Haywood. He is a current member and has volunteered to answer any questions to give you an idea of what the service involves and support we provide.

You can email him at to set up a time for a conversation over the phone if you like or call his US phone line at 702-560-8552 or Skype at RobinHaywood

Do You Enjoy The Daily Forex Commentary? Please Click The Like Buttons, Tweet It, and Google + It Below !!


Related Articles

1 Comment

  1. Stany
    Stany September 30, 20:25

    I have a question about the GBP/USD:
    I was wondering whether it is really a valid 3 wave push- because the 2. and 3. push happened during only “1,5 day” … and since I was wondering about very similar situation on EUR/USD last week which you resolved in video, I was thinking whether this is no the same situation.


    Reply to this comment

Write a Comment

fx trading course singup

fx trading course

*30% Off The Advanced Bank Trading Course* - Ends October 31st 2016SHOW ME NOW!