EUR/USD Follow Up
Posted on March 26, 2009 at 0:27 in Uncategorized by Ross YamashitaNo Comments »

Hello Atif,

Thank you very much for your comment. Yes, we haven’t been able to close near the high for the past week now.

EUR/USD

As you can see on the chart, we are now forming a channel. Look for a potential move down to the bottom trend line, however, the longer term trend still appears to be bullish.

When the pair starts to channel like this, look for a major breakout. We will most likely get a glimpse of the direction before the NFP coming out so between now and next week is a critical time for this pair.

When we see a nice wave count or can get a clear direction, we will update everyone on our ‘Trader’s Edge’ blog here on FX Street.

Good luck and be sure to use your stops and apply your money management.

Tags: , , , ,
Bailout Plan Follow-up/ECB & NFP Preview
Posted on October 1, 2008 at 22:22 in Uncategorized by Ross YamashitaNo Comments »

The senate has approved the Bailout Plan by a landslide vote.

The EUR/USD has since bounced back from hitting the low of 1.3929 and seems the bears are gaining some of the momentum back. The GBP/USD looks very similar as we seem to be moving steadily up from the lows.

To find out what happens next for the U.S. Bailout Bill, read FX Street’s Marina Schiaffino and Mauricio Carrillo’s report about it.

We now turn our attention to the ECB rate decision set for Thursday. Most analysts predict that the ECB will hold borrowing costs at 4.25%. After that, of course, we have the U.S. Non-Farm Payroll numbers.

Be sure to trade the NFP live with FX Street’s Wayne McDonell. For more information, click here.

Tags: , ,