Day Trading Forex Live – Learn To Trade Pro Forex Strategies


March 25, 2013 EUR/USD, GBP/USD Analysis

At the eleventh hour just before the ECB was due to cut off liquidity funds to Cyprus banks. We have a deal! Well isnt that just peachy? However the details are still a little bit unclear. Well quite a bit unclear. What does seem to be the case is they aren’t going to hit the small depositors but as Reuters reported this morning “Deposits above 100,000 euros, which under EU law are not insured, will be frozen and will be used to resolve debts. It remains unclear how large the write down on those funds will be.” Current estimates are running in the 20% range but that may actually go up depending on how big of a bank run happened before they could set up the capital controls over the weekend and whether or not they could actually implement them before many Russians and British alike have been able to transfer funds while the banks were closed. Yes you wouldn’t think that could happen while these banks were closed for that reason (capital flight) but as the saying goes “money talks and BS walks”

I don’t think I could ever say it enough. Nothing surprises me these days. Disgust me yes but surprise? Not a chance.

Today we are looking at a probable test of the 1.3100 level. Although I didn’t want to count the push up from the lows last week due to it still remaining in the range its much more clear now that they have started at least a first push out of the range or counting the one from the lows we have two and working on the third. What is a little concerning is the large move on the news mentioned above and it has already tested the daily 200 EMA and is not far from the 4 hour 200 so there is a chance this is as far as they go before a reversal. What I will be looking for today is this top forming a topping formation with a stop run to these highs we have for a short or the test of this breakout above Fridays highs holding as support during the London session proving it as support for the long.

EUR/USD 1 hour chart March 25, 2013

To Learn More About The Secrets of The Mega Banks  Check out Whats Included in Our Day Trading Course Here…

The GBP/USD did as expected in Fridays commentary and gave another push to the upside. However it also missed my entry manipulation level by over 10 pips. Its is finding some resistance at the 4 hour 200 EMA right now but since the push Friday was short I expect it to finish out today. Right now its being held back by the EUR/GBP rising significantly on the Cyprus news so once the EG finds its resistance then the GBP/USD will probably rise to finish this push and possibly be extended on the level pip count. The level i will be looking for a long at will be the 1.5220 where it found support Friday. Its also the 20 level which gives it some more confluence also. The next daily level it has potential to test is 1.5320 so if it reaches there it will be one long push or show the reason why I dont like to count news pushes and show a cleaner 3 pushes up. Then most likely ready to give a reversal trade.

GBP/USD 1 hour chart March 25, 2013

If you would like to learn more about how the banks manipulate the Forex market on a daily basis you should check out the three part series. 

Learn To Trade Forex With Smart Money Part 1

Learn To Trade Forex With Smart Money – Part 2

Learn To Trade With Smart Money – Part 3

Forex News Today

There isn’t any scheduled releases of note today  so they will be digesting the news from Cyprus and the details of the deal as they trickle out. Depending on what they are it could mean positive movement on the pairs or negative so be careful out there today. There is a helicopter Ben speech late in the trading day so that may have some impact but is after our trade entry time so just be aware of that if you are in a trade.

Below is an interesting interview with Reggie Middleton by Max Keiser  I wanted to share. Reggies opinions are of the few I really respect with his no fluff and spin so I thought you may enjoy this also. You can ship the first 15 minutes or so of Max and his figuratively vomiting which is a little over the top but if you like Max and his theatrics then go ahead and watch it. 🙂

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. Koach
    Koach March 26, 02:04

    noob question here. based on your experience, does the Easter Weekend affect the volatility of the markets this coming Friday? what I mean is will this coming Friday be like no volatility or not much volatility?

    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!