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Trading wasn’t as volatile as it was yesterday, with Yen pairs consolidating, while overall higher yielding currencies like the Canadian and Australian Dollars weaker. The Swiss Franc gained on the US Dollar and Euro. US data for durable goods orders and new home sales was weaker thane expected, meaning risk aversion should be the theme of the day during NY trading. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Risk appetite rose in today’s trading, helping higher yielders to gain on the USD and other safe-haven currencies as a closely watched Ireland government debt auction was successful, and US industrial production showed a strong 1% rise in July. That helped equities and commodities to rally, boosting the Canadian and Australian Dollars. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

As Pre-London was wrapping up and the London market was preparing to open, we started to see some clear strength on the British Pound Sterling against all comers. Once direction was given, a very quick but clear 50% Fibonacci pullback was offered but only very briefly for those that were prepared for it in the first place. However, if this entry was missed one had to wait nearly 2 hours for the next logical shot on a pullback off of a completely closed hourly Bollinger Band. Here is the rub though, this perfect 50% Fibonacci pullback that occurred 2 hours later happened just 2 minutes before the MPC Meeting Minutes release. So while it was a technically perfect entry, you had to be willing to take the added event risk of the news, which just so happened to go in our direction. You did have time to decide this ahead of time though, as the charts were definitely telling us this scenario was a likelihood.Quite often in fact, you will find perfect technical entry points right before a news event. However, in this case we still felt the odds were in our favor as I describe in the video. While we covered all GBP pairings, in this video we focus on just the GBP/USD setup and every detail involved in the planning, execution, and exit of the trade. FXBootcamp London Currency Coach- Christian Stephens

Good economic news from Europe was hard to come by today. Negative core CPI in Spain (first time ever), pressure on European bank stocks, rumors of French President Sarkozy having threatened to pull his country out of the euro, and reports of strikes by Spanish labor unions, all weighed on the euro. The EUR/USD currency pair reached an 18-month low during today’s New York session.

An absence of major US economic news and a holiday-shortened trading week contributed to the second day in a row of lower than normal Forex market volatility during the New York session. Although follow-through was limited, there were some pips to be made by skilled scalpers, even on the EUR/USD the world’s most liquid currency pair. A conservative long trade setup on the euro came together as the end of the London trading day approached. Up to 70 pips in profit depending on entry and exit strategy was the reward for traders who simply bought at visual support and took profit at today’s central pivot point.

London started today by showing strong stings of continuing the Asian upward direction on many pairs. However, we found ourselves directly on resistance as the London Market itself opened for business, which generally leads to selling, at least on the short term. So while our daily outlook for the overnight session was continuation for many pairs, short term scalp opportunities on pullbacks definitely looked to exist. We focus on one such opportunity in this video involving the EUR/JPY. While the pre-London scalp worked fine, the London open entry ended up being a dud. This video was made to show you that not every plan works as intended, but if you enter your trades properly, you can usually walk away from even a failed trade with a worse case scenario of break even, or maybe a handful of pips. This is why patience, discipline, proper risk vs reward ratio’s, and ultimately Trader Psychology is are such important elements of a successful trade of anything, not just Forex. FXBootcamp London Currency Coach- Christian Stephens

We began the London session today looking rather umm… shall we say ‘Tired’ on several pairs. One of these pairs was the GBP/USD and it’s repeatedly failed attempts at breaking the 1.44 zone in any sort of sustained fashion. While the market was somewhat challenging and choppy tonight, in this video I show how we ultimately put together a battle plan for the Cable and ended up leeching just about as many pips as possible off ot it several times throughout the London market. The 4 P’s got it handled 1) Plan, 2) Patience, 3) Pounce, 4) Profit. Wit proper planning and discipline we turned an otherwise challenging night into a profitable one using little more than our old friend Fibonacci. FXBootcamp London Currency Coach- Christian Stephens

Forex Technical Update 6/4/2010: forex trading, EUR/JPY, GBP/JPY, AUD/JPY, CAD/JPY, USD/JPY, technical analysis Fan Yang CTA www.fxtimes.com It’s Friday, and as always I will take a look at the Japanese yen crosses. The yen has been losing in past couple of weeks, but this was correction to the trend of Yen-strength, which is boosted by risk aversion. This week ended with the yen taking back some of those losses. The question is whether this is a true sign of continuation, or just another move within it, chopping up traders attempting to jump on a trend.

Some recent economic green shoots have been turning brown, but not all. Results from the New York Fed’s Empire State Manufacturing Survey in April suggested less bad conditions for a second straight month, sparking renewed pressure on the Japanese yen. Within minutes of the news release, synchronized pullbacks on the yen crosses provided long trade entry opportunities the best of which was a 100-pip scalp on the GBP/JPY currency pair. London close brought another 100-pip trade on a currency pair not known for such moves…watch the video to discover the clues which pointed to it.

Forex Technical Update 6/1/2010: forex trading, EUR/USD, GBP/USD, EUR/JPY, XAU/USD, Gold, technical analysis Fan Yang CTA www.fxtimes.com There was a broad slide in the US dollar to start the week. However the Euro bore even more pressure as the EUR/USD pair hammers at its 1.2150 support. The GBP/USD pair is in consolidation but looks much stronger than the EUR/USD. The EUR/JPY made a convincing rally attempt today, but it is within a side-ways consolidation with bearish bias. Finally Gold continues to rally towards the record high near 1250 as anticipated.