Forex news trading 2nd October 2013
FX Currency Majors Video analysis for 2nd 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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Forex news trading 2nd October 2013
EURUSD – Yet again Price was unable to trade higher after the news about the US Shutdown. That knee jerk reaction I mentioned yesterday morning was clearly evident over the course of the day. What was left was a shooting star exhaustion candle at a current consolidation high. With EUR interest rate announcement later and the ECB Press Conference to follow. Then the US ADP Non-Farm Employment Change & Fed Chairman Bernanke Speaking later this evening we could be in for some movement later in the day. IF this Forex news trading Pair EUR is to still look long term positive – this resistance level at 1.3560 needs to be breached ASAP otherwise the bears will have a party very soon.
GBPUSD – This Forex news trading Pair has had the same outlook. Pair failed to rally after the news of the US Shutdown. We did see GBP making highs on the Euro open however during the course of the day Price took all that upside momentum away. We are back below the weekly fib level in the shape of the 23.6% level. The current 4hr candle as of 08:35am GMT is re attempting that level. Here again I would like to see a more decisive candle so will be standing aside and looking to a Daily close for more conviction.
USDCHF – The daily candle for this Pair has ended up looking like a Hammer formation. We have seen a number of days where Price has failed to move lower. Is this the start of a strong support level. Well if yesterdays candle is indeed a signal for US strength then we would like to see a Bullish engulfing candle close to concur with the sentiment felt yesterday. The 4hr chart clearly shows a Tweezer Bottom candlestick formation. Look to see if any news out today could push this Pair higher going into NON Farm on Friday.
USDJPY – This Forex news trading Pair has been trading within a wedge range for some time. The 200sma daily has been a target over the past couple of months. However we have seen US dollar bounce on every occasion she has made with the 200sma. Not so recently it seems. Yesterdays Bearish engulfing candle has seen that momentum being carried through over night on Asian session as the bears are looking lower as we head into UK open. A Bearish Daily close will put Price below the 200sma for the 1st time since October of 2012. Not a great outlook then. Be patient here and you shall be rewarded handsomely. Potential 1st target here would be around 93.62 and change.
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