Day Trading Forex Live – Learn To Trade Pro Forex Strategies

Blog

Risk Aversion Confirmed, Stocks Drop Fifth Straight Day

Equities Have Worst Start To a Year EVER

To be honest I havent seen all the data that would show this to be the worst start to a year ever but it surely makes sense when I consider the closing at all time highs just before year end of 2014. Combined with probably the largest stock bubble ever pumped by governments and central banks in unison and it shouldnt be surprising to anybody. Its simple physics in the form of, for every action there is an equal and opposite reaction. Something to the same effect of housing prices believed to have no place but upwards in 2007-8 proving to be fallacy as well. This time its much bigger though so the ensuing reaction will be comparable to the first action. This cant end pretty.

However I do have a very funny video for you that I just had to post. I was literally brought to tears the three times I watched it. Enjoy

Now I know its not a good thing to enjoy the pain of others and I do feel for the ones duped into buying at the top, however there are surly those out there that caused this mess who deserve it. Lets hope they are the ones taking the biggest hit 😉

EUR/USD Holds Mondays Range

Yesterday In the live training room I was talking about the hefty daily levels the EUR/USD was approaching, having good potential to hold at least temporarily. Now we have a potential stop run to test down to just above the 1.1846 level still leaving the potential for a reversal open. If the risk aversion holds up they wont be doing much of a reversal so as long as they hold below the Asian highs then the 1.1887 is valid for a short during the London session. However I will still be open for a long at the 1.1846 if they run there first and set up for a long. Having said that I wont be holding any long position for more than twice my risk.

EUR/USD Hourly chart 1-7-2015

GBP/USD Runs Second Push Down

Considering the large move from January second being what we look for in a three push move, the last couple days of price action are clearer look at as two clean pushes down on the GBP/USD. Today I will be looking mainly for the short while I have to be aware of the potential false conviction during Asia testing down to the daily/monthly lows of 1.5115. This increases the chance that the test lower during Asia could be a stop run before a reversal.

GBP/USD Hourly chart 1-7-2015

EUR/JPY Makes Extended Third Push

The EUR/JPY made a nice long third push yesterday. Hope some of the members that caught it in the live session yesterday took a good chunk of the run. At this point I would be looking for the reversal but considering its already ran 50 pips from the lows that may be all it has so I will be open on direction. The best level to short is at 141.42 but I will be open for the long with a test of the Asia lows at 140.53 during the London session if they dont offer the short.

EUR/JPY Hourly chart 1-7-2015

 

Forex News Today

The calendar starts off early with German Retail Sales and later their Unemployment data. I have my doubts they will be pushing on a smaller miss for these with the ECB recent statements. Otherwise later there is Euro Zone CPI data expected to drop below zero. This should already be priced in but a surprise above zero could bring some Euro strength while a disappointment the opposite as the chance for a bigger QE package from the ECB gets higher.

The US has ADP Non farm expected around 226K. Since Friday NFP and the ADP figures have been closer recently then this could move the USD around on a big miss. Anything below 200K would create USD weakness while its likely that 230k+ would keep USD strength going. There is also the FOMC meeting minutes later in the day buy I expect this to be close to what was in the statement and shouldnt surprise.

Happy Trading

Chad

MY APOLOGIES FOR THE BROKEN VIDEO OF INSIDE JOB IN THE COMMENTARY. I DIDNT THINK I WAS COPY WRITE INFRINGING WITH AN ITALIAN VERSION ALREADY ON YOUTUBE. HOWEVER YOU CAN STILL WATCH IT AT THIS LINK. STILL A MUST SEE!

MEMBERSHIP SPECIAL – CHECK OUT THE CURRENT DISCOUNT ON OUR FOREX COURSE AND LIFETIME MEMBERSHIP…SEE IT HERE

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 robindtfl@gmail.com 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

Share

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

fx trading course singup

fx trading course

DTFL Pro
*End of Year Special - 45% Off Sterling Suhr's Bank Trading Course*CLICK HERE