Day Trading Forex Live – Learn To Trade Pro Forex Strategies


EUR/USD, GBP/USD Analysis March 4th 2014

The EUR/USD did make the reversal for a first push down from the highs yesterday. Again it seems to be mainly due to the conflict escalating in Ukraine. There was the better than expected ISM figures that popped the EU down but that move was retraced within the next 45 minutes only to trap traders around the high of the day then pushing down later in the US session with no significant data releases to make the big boys think the Fed will increase the taper because the US is recovering realistically.

I will have the bias for the next push down today with the Asian highs being the first place I will look to take the short. However in order to have confidence they wont push it to the gap lows from yesterday I want to see the Asian session push down well below yesterdays lows widening the range. Then during the beginning of London they should try and push the Asian traders out of the market with a stop run to the Asian highs. Otherwise the probability they will push it up to 1.3756 goes up substantially before the make the turn. There is the chance this is a false push down also so I will be open for the long but will need to see that they refuse to let the current lows break along with manipulating the breakout traders at the Asian highs first.

EU 1hr chart

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

The GBP/USD also made the reversal I mentioned in yesterdays commentary. Once it closed the gap it made several attempts to try and break above showing a few patterns of trapping traders before making the main move late in the day as with the Euro. I will have the bias for the short here today also. The issue I have with a short here today is the levels that have potential are in the range between 1.6670 and 1.6680 with the hourly 200 EMA hovering in between. Since the MA hasn’t been getting much respect lately the potential for them running it up to test the psych level of 1.6700 before a turn is there. Having said that they have made the push down far enough during the Asian session that the 1.6680 level has the best potential considering its almost 40 pips from the lows today.

GU 1hr chart

Forex News Today

The calendar is bare today so we should see the continuation of these moves unless we get more tape bombs as the posturing over the conflict in Ukraine continues. I have to admit Obama is in between a rock and a hard place with his big business puppet masters on one side saying stand firm while the banker puppet masters on the other saying don’t let the markets tank. This thing could go either direction at any time. My guess is it will continue to escalate until the markets lose between 500-1000 points and then allof a sudden Obama will back off a bit similar to what happened over Syria. We shall see.

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

If you have any questions regarding the Binary Options education provided by long time member Allen Henn you can email him at or contact him on Skype at Allen.Henn

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


Related Articles


  1. Robin
    Robin March 05, 09:16

    Another great commentary and market review. Good point on the E/U and G/U levels.

    You guys are great and provide super support.

    Reply to this comment
  2. Robin
    Robin March 05, 11:21

    Gotta tell you Chad, you called that E/U right on time… Amazing

    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!