Today the EUR/USD looks as though we may have seen the third push. However if I look at the clarity of the pushes the distance of yesterdays price action matches pretty close to the push from the highs. Plus we do have the hourly close below significant support from October 3rd I will have a [...]
Daily FX Commentary EUR/USD, GBP/USD October 4, 2012
October 4, 2012 by · 1 Comment
Well as I had a suspicion we didnt see our third push on the EUR/USD yesterday. I knew something was suspect with that push to the previous Friday highs and the fact that the market couldnt close above it. This is the characteristic of a topping formation so when we see such things its difficult [...]
Forex Market Daily EUR/USD, GBP/USD Commentary October 3, 2012
October 3, 2012 by · 2 Comments
Today on the EUR/USD we are looking at a second push to the upside. Not only is it a 87 pip push but has the hourly close above Mondays highs. I have to say I am a bit concerned that it didnt get above Fridays highs though. I would be much happier if that were [...]
FX EUR/USD, GBP/USD Daily Commentary October 2, 2012
October 2, 2012 by · Leave a Comment
Yesterdays price action on the EUR/USD was not part of the plan. The 130+ pip pullback I did not expect. There was the news that Spain is getting ready to ask for the bailout and was confirmed by some sources but I didnt see that until this morning. To be honest when Spain does request [...]
Daily Forex Commentary EUR/USD, GBP/USD October 1, 2012
October 1, 2012 by · 3 Comments
As I was going through my news releases over the weekend it did not surprise me that we see the push up on Thursday now be shown as a false push. As I noted in the Sept. 28 forex commentary the Spanish banks stress test results were due and I expected them to paint the [...]
EUR/USD, GBP/USD Forex Market Commentary September 28, 2012
September 28, 2012 by · 1 Comment
IMPORTANT: This Saturday September 29th 2012 @ 2:00PM Eastern (New York) We Are Hosting A Live Training Seminar. I apologize to all those who couldn’t get into the last seminar we hosted as the room filled up much faster than expected. I have requested a room limit increase for Saturday so I believe we will be ok and [...]
Forex EUR/USD, GBP/USD Daily commentary September 27, 2012
September 27, 2012 by · 2 Comments
Today we are looking at the EUR/USD finding support at the daily 200ema. I remember mentioning to a member last week that I expected the next heavy support level at that and I did manage to close my short from Tuesday night for over 90 pips when it was making the bounce yesterday afternoon. As [...]
Daily FX EUR/USD, GBP/USD Commentary September 26, 2012
September 26, 2012 by · 4 Comments
Yesterday turned out to be a rather interesting trading day for me. Even though the live training session was quite boring and I ended up jabbering about the crazy things going on here in Asia between Japan, China, the Philippines, Taiwan ect. The list goes on. I did end up taking the short I mentioned [...]
FX Daily EUR/USD, GBP/USD Commentary September 25, 2012
September 25, 2012 by · 2 Comments
Today on the EUR/USD I see we have had the expected push to the downside. Things didnt go exactly as planned as we did have the break below the Friday lows support level during the Asian session. However the test from below that I mentioned in the September 24th forex commentary went off like a [...]
Forex Market Commentary EUR/USD, GBP/USD September 24, 2012
September 24, 2012 by · 2 Comments
Looking at Fridays choppy price action I am inclined to believe that we have a good chance of seeing more of this ahead. from what I have been reading over the weekend the volume in the markets picked up substantially so we will be seeing more volatility at the very least and do have a [...]
Daily Forex Commentary EUR/USD, GBP/USD September 21, 2012
September 21, 2012 by · Leave a Comment
Yesterday we saw the third push down on the EUR/USD beginning during the Asian session and never looking back. With bad data from China and the growing rift between China and Japan causing a risk off scenario that just never caught a break all day. The New York reversal did provide some pips to those that took [...]
FX EUR/USD, GBP/USD Commentary September 20, 2012
September 20, 2012 by · 1 Comment
Just as we expected the markets are getting back to the new normal after the the summer doldrums showed up for the first time in years and then the roller coaster ride that was the first week of this month with all the Central planners having their say. Starting up the proverbial print fest to [...]
Forex Daily EUR/USD, GBP/USD Commentary September 19, 2012
September 19, 2012 by · 2 Comments
The EUR/USD has the first push down for the reversal as expected once it gave the 1 hour close below the support level at Mondays lows. We were looking for the potential long set up in our live forex training room until this had happened. It was definitely a day to test our patients since we did [...]
EUR/USD, GBP/USD Forex Commentary September 18, 2012
September 18, 2012 by · 2 Comments
Judging by the slow price action yesterday in the EUR/USD I am starting to think we may not see the push up I expected. There was a nice 80+ pip move to the upside but the entry was aggressive at best. Although I must admit with the Feds QE on the table the US will have [...]
Daily FX Commentary EUR/USD, GBP/USD September 17, 2012
September 17, 2012 by · 2 Comments
Here we are with the start of a new week. The major supposedly game changer news is behind us and now we get a rest of sorts until the market realizes that its all smoke and mirrors again. Once this does happen as we can be assured it will my feeling is the correction will [...]
Forex Daily Commentary EUR/USD, GBP/USD September 14, 2012
September 14, 2012 by · 2 Comments
Well Ben sure did it didnt he? He stepped into this one big time. Announcing an open ended money printing fest that is sure to take the US down the tube into the next level of hell. I sure hope everybody in the US has purchased a wheel barrow because its not going to be long until [...]
FX Commentary EUR/USD, GBP/USD September 13, 2012
September 13, 2012 by · Leave a Comment
The EUR/USD is clearer today with a second push to the upside. It was hard for me to call the price action from Monday a third push chop scenario but it seems clearer that it was at this point. Today I will be expecting the next push up and if the Fed does what everybody [...]
Daily EUR/USD, GBP/USD Forex Commentary September 12, 2012
September 12, 2012 by · Leave a Comment
Todays forex commentary is going to be short and sweet. As our members know I was developing a cold yesterday during the live room. Well now its turned into a full blown flu so I have been in bed until noon today. Anyway lets get to the charts. The EUR/USD has made another push to the upside [...]
Daily Forex Commentary EUR/USD, GBP/USD September 11, 2012
September 11, 2012 by · Leave a Comment
Today the EUR/USD seems to be hammering out a the third push chop as nobody wants to be the tall blade of grass that gets cut first so we will have to play it safe and trade the range. Right now we are testing the support level I mentioned in the Sept. 10th forex commentary [...]
EUR/USD, GBP/USD Daily FX Commentary September 10, 2012
September 10, 2012 by · 1 Comment
We sure got the third push we were expecting Friday though I didnt get an entry. I must admit 170 pips from the start of the London session was a bit excessive. We did have a crappy NFP to help it out so as we start the week we will be looking for the reversal. [...]
Fx Daily EUR/USD, GBP/USD Commentary September 7, 2012
September 7, 2012 by · Leave a Comment
Well Mario Draghi did it. He pulled out his Euro pump and gave it all he had just pumping away. However it seems like all the hot air just blew by the Euro and went into equity markets instead. The S&P, Dow, FTSE and other European markets are at their highs and some are at [...]
Forex Commentary EUR/USD, GBP/USD September 6, 2012
September 6, 2012 by · Leave a Comment
Today is the day. The day when we see just what Mario Draghi and the ECB has up their sleeve. There was a leak yesterday (intentional leak) that Dragi plans to buy “sterilized” short term debt of countries (Spain, Italy) who formally ask for help. This is the rub. The formally asking for help implies [...]
EUR/USD, GBP/USD Forex Commentary September 5, 2012
September 5, 2012 by · Leave a Comment
As I suspected the first push to the upside on the EUR/USD is now being proven to be a false push. Now that we have an hourly close below Mondays lows here during the Asian session we have a potential first push to the downside giving the bias to the short position now. With the [...]
Daily Forex EUR/USD, GBP/USD Commentary September 4, 2012
September 4, 2012 by · Leave a Comment
Yesterdays price action leaves me a little sceptical on whether we will get the second push on the EUR/USD. There was a nice tight range held throughout the day until Draghi came up for his speech. I expected at least a test of Fridays highs that never came leading me to have more thoughts of [...]
Forex Market Commentary EUR/USD, GBP/USD September 3, 2012
September 3, 2012 by · Leave a Comment
Finally here we are in September and the markets should be picking up some sense of normality. We do have the Labor Day holiday in the US so its likely we will see the move during the Asian or London session today. I should also point out that there is a Mario Draghi speech that is [...]
Daily EUR/USD, GBP/USD Forex Market Commentary August 31, 2012
August 31, 2012 by · Leave a Comment
Its time to celebrate guys. We are finally at the end of this crazy month. Even better I managed to catch the GBP/USD 1hr stop run last night and woke up to a 90+ pip move. Of course I debated setting the take profit at 50 pips like I said was the safer move in the live forex [...]
EUR/USD, GBP/USD Forex Commentary August 30, 2012
August 30, 2012 by · Leave a Comment
Just a couple more days and we should be seeing some resemblance of more normal market conditions. There have been some set ups but the cleaner entries have had little follow through. Our more aggressive members have done well I have seen but myself being strict on my entries its been slow to say the [...]
Daily Forex EUR/USD, GBP/USD Commentary August 29, 2012
August 29, 2012 by · Leave a Comment
At this point in time with the combination of the summer slow down and the financial crisis even the smart money is trading more off the news than following their manipulation plan. Its always easier to Monday morning quarterback such things since we arent privy to alot of the information the big boys have so [...]
Forex Daily Commentary EUR/USD, GBP/USD August 28, 2012
August 28, 2012 by · Leave a Comment
Three days and counting. We are almost to the end of August. Yesterdays price action was about as dull as they get. there was an aggressive entry after we saw the manipulation to the highs on the GBP/USD but it didnt pull back far enough for a safe entry to me. However as I mentioned [...]
Forex EUR/USD, GBP/USD Daily Commentary August 27, 2012
August 27, 2012 by · Leave a Comment
Here we are starting the last week of August so next week we should be seeing more of the new normal markets with the summer doldrums being over. I will be much happier then for sure. Last Friday we saw the third push in the Euro take precedence and drag the GBP/USD down with it [...]
EUR/USD, GBP/USD Forex Market Commentary August 24, 2012
August 24, 2012 by · Leave a Comment
I cant wait for this month to be over and the markets get back to the new normal. Meaning the abnormal markets we had before summer started. The summer doldrums have made it rough trading. I never really thought I would be wishing to see the markets as they were before June but anything is [...]
Daily Fx Commentary EUR/USD, GBP/USD August 23, 2012
August 23, 2012 by · 1 Comment
Yesterday I found it hard to count the EUR/USD move on Monday as the first push up but come to find out that was the case and now thanks to the Fed minutes and the Feds mouthpiece from the Wall Street Journal (Hilsenrath) we have a second push staring us in the face today. So [...]
Forex Commentary EUR/USD, GBP/USD August 22, 2012
August 22, 2012 by · Leave a Comment
So where are we today on the EUR/USD? That is a darn good question and the pushes are unclear at best. I can find 3 intraday pushes up for 230 pips but have to start from the lows last Thursday we are starting to see a topping formation but its still not all to clear [...]
Daily Forex EUR/USD, GBP/USD Commentary August 21, 2012
August 21, 2012 by · Leave a Comment
Apologies for missing the Forex Commentary yesterday. We are still dealing with getting the sites content all loaded and to top it off my internet was dodgy at best. The good thing though is that after answering several emails late in the day when my internet was good I realized that several of you guys [...]
EUR/USD, GBP/USD Daily Forex Commentary August 17, 2012
August 17, 2012 by · Leave a Comment
As we see in the EUR/USD today the thin markets are throwing off some of our ways to determine where we are in the cycles. One of our members had brought this up to me and he made a very good point about the less than 90 pip pushes should be considered as pushes during [...]
Forex Daily EUR/USD, GBP/USD Commentary July 20, 2012
July 20, 2012 by · Leave a Comment
While the EUR/USD did as we expected in yesterdays Forex commentary the GBP/USD did not thanks to the weakness in the EUR/GBP. Good job to those members who did catch the Euro short. It didnt give me the entry I liked and I unfortunately took the GBP/USD expecting the USD strength to prevail and it [...]
Daily Forex EUR/USD, GBP/USD Commentary July 19, 2012
July 19, 2012 by · Leave a Comment
Not much has changed for the EUR/USD since yesterday. We are still in chop mode and testing the hourly 200ema as I type this. I was kind of kicking myself for missing the short during the Asian session yesterday. There was an aggressive entry for the short but it never gave me a decent pullback [...]
EUR/USD, GBP/USD Forex Commentary July 18, 2012
July 18, 2012 by · Leave a Comment
You have to love it when a plan comes together. Yesterdays trading day was great all around. The Euro gave the entry short during the last minutes of the London session live room for a move of over 100 pips and then during the New York session Sterling got the long entry for the New [...]
Fx Daily EUR/USD, GBP/USD Commentary July 17, 2012
July 17, 2012 by · Leave a Comment
First I want to thank all of you for the well wishes for my father in law. It means alot and he is getting better so it isnt serious pneumonia but he is still in the hospital recovering and having more tests done. The EUR/USD today has seen 2 pushes to the upside. Albeit on news [...]
Daily Forex EUR/USD, GBP/USD Commentary July 16, 2012
July 16, 2012 by · 2 Comments
My apologies for the late commentary guys. We had to run my father in law to the emergency room last night. Turns out he has pneumonia. Its been a long night so the commentary will get right to the point. The EUR/USD has seen several pushes to the downside and could reverse any time. However I [...]
Forex Commentary EUR/USD, GBP/USD July 13, 2012
July 13, 2012 by · Leave a Comment
We have been pushing extended levels in the EUR/USD all week now and have a better chance for the reversal considering it did come within 15 pips of the daily support level around 1.2150. Considering this I will still only be willing to take the long with a clear stop run to yesterdays low. Otherwise [...]
Daily Forex EUR/USD, GBP/USD Commentary July 12, 2012
July 12, 2012 by · Leave a Comment
Looking at the EUR/USD this morning I see the attempt to push lower has been held up by Tuesdays lows even though we did have a nice 1hr close below that level. My bias is still to the downside here but it is looking like it may be entering the 3rd push chop before a [...]
EUR/USD, GBP/USD Daily Forex Commentary July 11, 2012
July 11, 2012 by · Leave a Comment
The EUR/USD did make a feeble attempt at a stop run as I mentioned in the July 10th commentary. However to be honest I expected a little more than that. It seems the smart money is having trouble inducing buying to sell into even though the rumors were flying around from the ECOFIN meeting and [...]
FX Daily EUR/USD, GBP/USD Commentary July 10, 2012
July 10, 2012 by · Leave a Comment
The EUR/USD has made what I would call a half baked attempt at the reversal for a whopping 66 pip move from the lows to highs yesterday. At this point I am considering this to still be the 3rd push chop and can go either way. Of course my fundamental bias is down but I [...]
GBP/USD Forex Day Trade July 6, 2012
July 9, 2012 by · Leave a Comment
This GBP/USD trade did carry a bit more risk being Non Farm Payroll day but the set up could not have been better and once it gave me the price I wanted up in the previous several wicks I felt it was worth the added risk of the Non Farm Payroll release in 30 minutes. [...]
Forex Daily Commentary EUR/USD, GBP/USD July 9, 2012
July 9, 2012 by · Leave a Comment
The EUR/USD did the extension of the pushes Friday and squeezed out a forth push to the downside rather than attempt the reversal showing just how weak the Euro is at the moment. However today I will still be cautiously looking for the reversal. I definitely wont be holding for a longer push but the Smart Money [...]
Forex Commentary EUR/USD, GBP/USD July 6, 2012
July 6, 2012 by · Leave a Comment
My trade plan for the Euro yesterday played off almost exactly as expected. It didnt give me the manipulation at the point I was most happy with and I had a feeling I might have to take a more aggressive entry. Of which I was prepared to do considering the 2nd push trades have the [...]
EUR/USD, GBP/USD Daily Forex Commentary July 5, 2012
July 5, 2012 by · Leave a Comment
The EUR/USD has made its second push down from the highs for another run of over 100 pips. The slight bias for the short over the last couple days has proven to be the correct direction for the trade. However entries have been elusive. I did manage to catch the GBP/USD short on Tuesday but [...]
Daily Forex EUR/USD, GBP/USD Commentary July 4, 2012
July 4, 2012 by · Leave a Comment
Today we again have the EUR/USD holding in the chop and finding support at Mondays lows. With the ECB meeting and rate decision tomorrow the chances for the market to hold this chop goes up. I do still have a slight bias for the short but it could go either way. Today I will be [...]
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Daily Forex Commentary EUR/USD, GBP/USD October 11, 2012
Disclaimer:) – This is Sterling….because Chad’s internet is down I decided to add some info to the commentary to make it a bit more useful. Enjoy Hi all today’s commentary is going to be short and sweet. Our internet is being serviced and has been down for a day and a half. I am posting this from [...]