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FOREX Trading Review Video 18 DEC 09 EUR/USD (+ 122 pips)

Daily Recap of the Cowabunga System for Wednesday, 12/16/09 View the full post and add your comments here: www.babypips.com

Daily Recap of the Cowabunga System for Thursday, 12/10/09 View the full post and add your comments here: www.babypips.com

The US dollar gained ground against the euro after ECB staff’s revised eurozone GDP projections were released during today’s New York session. While the short trade entry level on the EUR/USD was justified by a plethora of nearby resistance, the nature of the preceding move made the scenario a test of mettle. Traders who took the shot were rewarded with a profit of up to 70 pips [depending on entry and exit strategy].

The US dollar gained ground against the euro after ECB staff’s revised eurozone GDP projections were released during today’s New York session. While the short trade entry level on the EUR/USD was justified by a plethora of nearby resistance, the nature of the preceding move made the scenario a test of mettle. Traders who took the shot were rewarded with a profit of up to 70 pips [depending on entry and exit strategy].

Although the EUR/USD managed a net move of just 2 pips from New York open to London close, there was an opportunity for a conservative and moderately profitable trade on the currency pair. Japanese yen strength, a theme seen broadly during today’s Asian session, returned at the start of the session, pulling the EUR/JPY pair down 100 pips. A weak British pound dragged the GBP/USD down nearly 200 pips following chancellor Darling’s pre-Budget report.

Daily analysis of the US Forex market trading session with DailyFX Currency Strategist John Kicklighter. Includes coverage of economic and financial market news, as well as an outlook for the day ahead and trading ideas.

Daily analysis of the US Forex market trading session with DailyFX Currency Strategist John Kicklighter. Includes coverage of economic and financial market news, as well as an outlook for the day ahead and trading ideas.

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Daily Recap of the Cowabunga System for Monday, 11/23/09 View the full post and add your comments here: www.babypips.com