Forex trading Greek support brings EURUSD up dollar weakens.

Forex day trading course watching as Overbought dollar finally makes a turn.  If we move above the 1.3880 mark we could start our journey to normal fib retracements. [caption id="attachment_404" align="alignleft" width="215" caption="forex trading system targets"][/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.

S&P 500 Emini Day Trading Gap Tuesday February 9, 2010

                                  S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Tuesday February 9, 2010

S&P Emini 500 Futures opened right at Friday's close, so, no gap today.  The index traded mostly sideways in a 12-14 point range, and closed at the bottom of the trading range at 1054.00, off 8.25 points.  The charts still look bearish on the daily charts, and today's sideways action on average volume did not dispel that perception.   It's hard to tell what bearing today's action will have on the rest of the week.  The current sideways action on lower volume suggests a possible bounce may be forthcoming.  Look for a retest of the 1100.00 level, then a drop down to support at 1020.00, the 200 ma, over the next few days.

S&P 500 day trading course

S&P 500 Emini Day Trading Gap Monday February 8, 2010

                                 S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Monday February 8, 2010

S&P Emini 500 Futures had no opening gap Friday.  The index dipped 23+ points during the day, only to rally back to close near the open.  The 1064 level was tested by the opening and the closing 5 minute candlesticks.  Traders seemed unsure of direction due to mixed employment signals in the reports issued prior to the open.  Volume was more than twice the average coming in at 3.96 million contracts.  The day closed with an uncertain directional conclusion.  On a broader time frame,  the Friday close marks the 3rd weekly close in a row that falls below the prior week's low.  That's certainly a bearish signal, especially since the January monthly close was below the prior month's low.  That's the first time that's happened since February of 2009. 

S&P 500 day trading course