Comments made during a speech
by European Central Bank
president Jean-Claude Trichet
triggered a lower low for the
EUR/USD during the first hour
of today's New York session.
Although the pullback did
provide a logical entry point
for a short trade, the euro
failed to extend lower on a
day devoid of major U.S. news.
The yen
more

Comments made during a speech
by European Central Bank
president Jean-Claude Trichet
triggered a lower low for the
EUR/USD during the first hour
of today's New York session.
Although the pullback did
provide a logical entry point
for a short trade, the euro
failed to extend lower on a
day devoid of major U.S. news.
The yen crosses, mostly mixed
through the first half of the
session, surged lower across
the board as equity markets
sold off following a new
record high in oil prices.
Traders who took a short trade
entry on the GBP/JPY at the
re-test of European session
lows, then saw a classic
two-speed move -- price first
riding the Bollinger Band,
then riding the 5 ema. Those
who took profit at today's M1
pivot point netted about 140
pips.

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Tags Forex, Training, Currency, Dollar, Money, FX, 4X, trader, Foreign, Exchange