Wednesday, May 12, 2010

Forex day trading course EURUSD

Last weekend's announcement of the massive EU/IMF bailout has yet to achieve the effects sought by its architects. Yield spreads in Greece, Spain and Portugal have not yet returned to normal levels. In FX, the EURUSD continues to erode at an alarm rate – trading down to 1.2606 as Europe opened this morning. Given the extreme short positioning on the EURUSD, a short squeeze could easily gain downward momentum. One of the core drivers for this move is low liquidity, as many market participants are sidelining their cash in traditional wait-and-see fashion. [caption id="attachment_857" align="alignleft" width="233" caption="Forex day trading daily chart 5-12 eurusd"]Forex day trading daily chart 5-12 eurusd[/caption] USDKRW declined0.3% to 1,138.60 after North Korea was reported to have made headway in its quest to become a nuclear power. The Bank of Korea (BOK) kept its benchmark interest rate unchanged at 2% for a 15th month as Europe's debt crisis adds to concern that the nation's recovery isn't yet strong enough to withstand higher borrowing costs. BOK Governor Kim is facing pressure to join India & China in withdrawing monetary stimulus as South Korea grows faster than expected on surging exports and stronger consumer spending with the GDP growing at 1.8% and unemployment rate falling to 3.7%. The recovery will likely lose steam in coming months as the global economy slows amid the European debt crisis according to analysts. China may relax the Yuan's peg to USD this month to head off criticism of its currency policy during May 24-25 talks with the US and he [...]

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S&P500 day trading course open gap and targets

S&P500 day trading course, we are looking at open gaps and a possible break out to new levels on the daily chart. [caption id="attachment_2262" align="alignleft" width="219" caption="S&P500 day trading course daily chart"]S&P500 day trading course daily chart[/caption] Open Gaps  1154, 1109 Point of Control for today 1160 Upside targets (resistance) 1168, 1175, 1182.25 Downside targets 1160, 1159.25, 1149.50 Still looking for the lower high pattern to form with some doming as we have price failure on the move up.  Would be a good sign for a continuation down if we close around 1157 today. We are moving up with decreasing volume again.  Buyer commitment in supporting this market is weak.  If we have a small ranging body in this pattern, we could see a break of the 1142.50 support this week. 200MA is around 1094 for the extreme low resistance.

S&P 500 day trading course

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