Forex news today, 23rd October 2013

 

Forex news today, 23rd October 2013 provided by Serene Education Ltd

FX Currency Majors Video analysis provided by Serene Education Ltd. An in-depth look at the FX Currency Majors using the FX Ultimate Strategy.

My name is Chris Blandin De Chalain, Director of Serene Education and full time currency trader.  I am here to share with you my views of the currency market through this live video recording.  Come and watch me conduct my analysis on the 4 Major Currency Pairs using the MetaTrader4 Platform and Serene Educations FX Ultimate Strategy

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EURUSD  Forex news today: After US weak NON Farm data we saw the Euro and other crosses take advantage of the outcome with some strong gains through the US trading session.  However we have seen no further gains on the Asian session as fears that a China Banks Triple Debt Write-Offs as Defaults Looms…. Not great news. The long term sentiment still favours the upside BUT as always to see any further highs we need to see Price making new highs. Failure to see that occur would then force Price lower for the foreseeable future. Patience is a must here…..

GBPUSD Forex news today After yesterdays gains we have seen Price falling dramatically over the Asian session taking back most of yesterdays gains. This pullback taking place at a Major S&R level high at 1.6200 level. Looking at weekly chart we have seen that GBPUSD has failed at this exact level on a number of occasions going back as far as August 2012. It’s vital that we see a Weekly close higher and a bullish one at that – we have seen a number of exhaustion candles at this same level on the weekly so either way we could see a continuation candle OR a reversal candle formation at this level.

USDCHF Forex news today Price slow drifting lower recently. Very cautiously recently. Next potential target would the weekly fib level at around 0.8854 level. There is enough to take an aggressive approach on this Pair.

USDJPY Forex news today Price is testing the Daily 200sma, the Weekly fib level and the trend line support (see video below for that).  IF Price does close lower than the 200sma – it will be the 1st time Price has done so in almost a year. It would seriously hinder any further highs for US for the foreseeable future. Expect some sort of consolidation – how much – that remains to be seen. I’d wait for a Daily close lower than the 200sma to look for entries lower OR a bullish engulfing close for a potential bounce back up to prior swing low at 98.20 level.

 

 

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