Hi everyone,
Here is the chart analysis I made from right after the market closed, things should still line up nicely as nothing has really broken the Friday highs/lows thus far. I just wanted to get this up asap so you could be ready if the market starts to move while I’m finishing the rest of the econ/chart analysis.
More to come with numbers and charts but have a look at the video for now….
>>>>CLICK HERE TO WATCH SUNDAY NIGHT VIDEO<<<<
CONT’D…..
I hope everyone had a chance to watch the video (by clicking the link above) and if you didn’t then have a look. Yes, some of the immediate movement has already happened but it’s only the first few hours of the market being open, we have an ENTIRE week ahead of us yet.
Currently there’s some pretty great levels in the market and some serious deciding points that have to be looked at. At this point I’m long EUR/USD, GBP/USD, EUR/JPY and GBP/JPY. You may notice these pairs can have very similar movements, so why not just put a larger positive on one or two instead of four pairs. There are important levels on all pairs, there’s even more important market news of the various pairs and there’s a few techniques that we’ll be talking about this week ONLY in the live trading group. If you do not know about our live group you should visit www.fxmoneymakers.com and find out more about it.
We see the GBP pairs are gaining some pretty great strength and the movement is following it nicely. As mentioned I’m trading the GBP against both USD and JPY, so far so good. Levels currently to watch on the GBP/JPY are 150.70, this level has held the market for a few hours now and a break of it should yield strong upward movement to the upside. Also We see a two week correction down on the GBP/USD that ended last week and has turned fairly strong UPPP!!!
>>STATS ON GBP, NEWS AND IMPORTANT DETAILS<<
As for the EUR/USD this pair is currently reaching some CRUCIAL levels of resistance, the pair is currently trading at 1.4935 which puts it dangerously close to the ever present 1.5000 level. We saw this pair tumble off that level not so many days ago and now it’s making a run for it yet once again. Important things to remember is that according to technical set ups, the EUR/USD could break the 1.5000/5050 level on it’s return test of the level. We saw the E/U make a LARGE fairly long term correction of it’s never ending uptrend just about 10 days ago, it finally showed signs that the correction would be over as it bottomed out at the 1.4650′ish level and has now turned up and broken out of the descending trend line starting back at/around Oct 25th. This pair is poised to make some moves up but how far is still the question and when is this long awaited USD reversal going to visit us? That is the question that remains…. the answer will lie in future events mainly tied to upping interesting rates and adding jobs to the roster instead of losing them. But that’s another story for another time. Here’s some things to read/need to know on the EUR:
>>THE “NEED TO KNOWS” ABOUT THE EURO<<
As for the USD, well there’s LOTS to be said…. in fact I almost don’t know where to start. As many of you know, I’m starting to get very cautious about shorting the USD because of extreme declines it has made over the last few months and when you get right down to it, any given market can only go one direction for so long. So it’s keeping me cautious about my USD sells BUT as long as interest rates stay at “extreme low levels” and employment doesn’t improve, the USD is destined for some ugly truths. Have a look,
>>WHAT TO EXPECT FROM USD<<
And on that note, I hope to see those of you who have not yet joined us in the live trading group… we’re having a great time and making some good pips, the link to join will be active until Tuesday night so now is the time to join.
Happy trading and lets make some money on these movements.
PS here’s a tid bit opinion on why the market moves the way it does, it’s an interesting point of view, I think you’ll like it.
WHAT MAKES PRICE MOVE
Jared J.
