[/caption] News is really driving the market, watch your self. Resistance at 1.3830-40 area. Could be a sharp reversal as we hit first support at 1.3775 Approaching the resistant trend line on this bearish channel.looking for a move back to the 1.3816-25 area and if it can't commit for a move up then looking for a double bottom or 76% retrace of the move up. FX markets were choppy in the Asian session, with risk appetite see-sawing. The day started with a risk off tone, as Wall Street plunged due to speculation that FOMC Chairman Bernanke could indicate tightening when he testifies in the House on unwinding Fed liquidity programs this week. The USDJPY fell to 89.20, but failed to pierce daily cloud support at 89.02. The AUDUSD opened at 0.8640 and slipped 0.8616, as China press denied the much celebrated Australia-China coal deal reported yesterday. However, as Asia went to lunch it was reported that European Central Bank President Trichet is prematurely leaving a meeting of central bankers in Sydney to attend a European Council meeting scheduled for Thursday. European Council is holding an informal meeting of officials and Greek members are expecting to come under some heavy fire. The EURUSD traded up to 1.3742 on the first news that officials are recognizing the severity of t [...] Forex trading - live day trading course and currency trade room.
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