Day Trading Forex Live – Advanced Forex Bank Trading Strategies

February 13, 2014 Daily EUR/USD, GBP/USD Analysis

February 13
04:08 2014

The EUR/USD did make its first push down yesterday so I will have the bias for the short today. I will still be keeping an open mind for a long if they show this is probably a false push but  will need to see the clear stop run to the lows in order to change the bias for the short along with some of the typical tricks they pull on the breakout traders. If price does make it to the lows I prefer to already be short from some manipulation to the 1.3625. There also is the four hour 200 EMA that may stop it but it would be better to see the inefficient move yesterday close for good measure.

EU 1hr chart

The GBP/USD made the third push I expected yesterday thanks to Carney and the Inflation report. With price moving 174 pips on the day and closing with no topping formation there is the chance that we get the extended push today without much of a reversal. I will have a small bias to get the reversal today but the way things look it may not start until it hits the daily level at 1.6641 which is also just short of a significant monthly high from January at 1.6667. What I will be looking for most today with this pair are the signs of the reversal at 1.6641 but if the entry is not clear I will wait for the pullback and consider a long for a break of the highs at yesterdays highs around the 1.6600 level or just below at 1.6570.

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

GU 1hr chart

Forex News Today

The calendar starts off with the ECB Monthly Report. These haven’t been market movers lately and usually only have an impact if the report differs some what from what Draghi has said in the Press Conference so I doubt there will be much from it today.

Later during the US session there is Retail Sales data. Expectations are for figures close to flat. The issue I see is they are close enough to zero that if there is the larger surprise popping the core data below zero then the USD should weaken as it adds fuel to the tapering of the taper. This by its self will need a large miss to create a sustained move. We also have another Janet Yellen speech later in the day as she testifies to the Senate Banking Committee. The big boys will most likely be focused on that and how she deals with the questions. The opening speech is likely to be similar to what was said to the House but you can just about bet the questions will be different.

Happy Trading

Chad

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

If you have any questions regarding the Binary Options education provided by long time member Allen Henn you can email him at allenhenn.info@gmail.com 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 !!

Share

About Author

Chad Tell

Chad Tell

Hi all. I’m Chad Tell. I started trading Forex about 10 years ago of course spent the first few paying my dues and blowing accounts. I was finally enlightened to how the markets are manipulated on a daily basis and have successfully traded my own simplified Volume Spread Analysis for years. Eventually combining it with trading the smart money business model and the rest is history.I now live in the tropics with my wife of 4 years and our 2 wonderful children. I work in my pajamas quite often and occasionally on the beach. I am living the life I had always dreamed of as a kid. Working from home on my own terms. NO BOSS. (don’t tell my wife I said that lol) I have to admit I am blessed and I truly wish the same for you.

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

Sterling Suhr's Forex Bank Trading Course
Learn to trade & profit from market manipulation!! FREE weekly articles & videos!!
Get the latest content first.
We respect your privacy.
DTFL Pro