Forex Video News 25th September 2013
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 FXUltimate8 Strategy Template.
Looking at today’s Forex Video News 25th September 2013.
EURUSD – Price is currently trading at monthly fib level at 1.3477. Price has been consolidative since the FOMC statement outcome. We have not seen EUR adding to the momentum we witnessed last week. The monthly fib at 1.3477 has now got to take on a more supportive role. Price needs to maintain above this level to still be considered positive near term. Failure here would potentially push Price back towards those lows we saw prior to FOMC statement outcome. I would wait for a confirmation candle on Daily chart to gage where sentiment lies with this Pair.
GBPUSD – As with its counter part EURUSD – this Pair is trading higher after FOMC statement outcome however has not added any further upside since that news announcement. Price has been consolidative since Thursday last. Price is trading at a previous support and resistance level at 1.59725. Here again Price needs to find support otherwise we risk seeing a Tweezer Top being formed on weekly which is very much a negative candlestick setup. Patience here again is important…
USDCHF – Since the FOMC statement last week – this pair has had the same outcome as it’s correlation sibling the EURUSD. Just the exact opposite has happened. Price has been range bound since Thursday last. The over all trend is negative for US dollar against the Franc however if we do not see a bearish engulfing close lower than this range soon, the Pair will start to look upside. The last 8hr over Asian session has seen the Pair trading higher than the 4hr chart range BUT the candlesticks have not been bullish enough. Must see a Bullish engulfing close higher on 4hr to see this is genuine break higher.
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