Day Trading Forex Live – Learn To Trade Pro Forex Strategies


Daily EUR/USD, GBP/USD Analysis April 11, 2014

With the EUR/USD going in to extended pushes yesterday the way we have to look at it is that the reversal could happen at any time. The simple reason is that if they don’t try and push weak holders out of the market with a false push down then the probability for seeing the nest two pushes up from here goes down somewhat. Yes it shows conviction in that they didn’t even close the inefficient move from the Fed Meeting Minutes, however that is not enough to build a clear bias for the next push up. At this point the safest way to treat this is open on direction either taking the short from a stop run to the highs yesterday or the long from the lows.

There are a couple ore levels I will consider the long from but they will be considered more aggressive entries so I will be particular with the set up ad entry. The best level would be the 1.3854 considering its proximity to current price. However if they do show conviction above the highs during the London session I will consider the 1.3871 or potentially the Asian lows.

EU 1hr chart

The GBP/USD did get the reversal moving down 66 pips from the highs created during the Asian session. Since it didn’t move down far enough for a first push long term and it being Friday I will be keeping an open mind on direction for this pair also. Again the safer trades will be from the high or low yesterday but I will also be open for the short at the 1.6800 level that has the confluence of the daily level from Wednesday.

GU 1hr chart

Forex News Today

The calendar is rather quiet today until we get to the US session where they have PPI data early on then Michigan Consumer Sentiment around an hour and a half later. The inflation data has a chance to surprise since its expected to get just above the big zero level. If it does disappoint then they will be getting a bit freaked out about deflation but whether it has an impact on the future of the Fed print fest is something I doubt. Consumer Sentiment is expected to improve but with this piece of data being sold to the big boys way ahead of the release I can only assume that it will already be priced in and not do much on a big miss.

Have a great weekend


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. big g
    big g April 12, 18:08

    im happy you said 4 levels because thats how i had my charts marked up really starting to get the levels now and thats THANKS to you chad and your daily analysis thank you

    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!