The FX Market

Week to be flying by, we are already at the end of another. To finish off the week, I am exploring the possibility the Euro still has another wave of upside potential. Looks possible to the monthly CPP before the next wave of shorting. The USD/JPY has now broken a nice 4 HR trap and looks like it wants to cook with gas to the downside, if we can break though the 90.50 region. Have a great weekend Rob Helean

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During Pre-London we some some strength in the British Pound, the Euro, and some weakness in the Japanese Yen. While there were some very nice trade plans that followed through nicely throughout the London session in with all of these currencies in this video we focus on the GBP/JPY long, that was indeed a rather difficult entry to feel fantastic about at first. We primarily use Fibonacci, and recognition of higher low’s in this setup to identify the opportunity, and visual resistance, daily M4/R2 pivot points for our upside trade potential for profit taking. Ultimately this trade gave us a 215 or so pip profit off of an initial risk of 20 pips or so, it’s not often you have a setup with only a 20 pip risk on the pair we like to call ‘the Beast’. Great way to start off the London week! FXBootcamp London Currency Coach- Christian Stephens

Hey everyone, todays outlook is fairly intricate, I am anticipating some dollar weakness but its not going to be easy to navigate initially. I concentrate on the Euro Pound cross, Euro USD and Cable. I hope you enjoy the video!! David Pegler

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Hey everybody, this Friday video covers Cable and the Aussie USD. Some simple analysis employed for these trade plans. Good luck and have a great weekend!! David Pegler

Our day began for London trading a bit earlier than normal, about halfway into the pre-London trading hours. The USD/JPY was consistently having problems printing any sort of higher high even on a 15 minute but not really making any lower lows at the same time. Considering how bearish it has been lately as a whole, it seemed well set up for continuation at least down to 8700 zone which is long time support as well as a daily reversal pivot point. This set the table for a nice pre-London long on the Japanese Yen (short the Yen pairs) regardless of which flavor, at least until this support zone was reached. At which point we are actually looking for a likely rise in the NY morning if this region does not break in London. In this video I go over what got me looking at the Yen in the first place, and go over just one of the pairs involved in the Yen basket I traded, but you could have done similar things with any Yen pairing tonight. London session itself was only left a last wave reload and some counter trend off support trades, which turned out to be great winners themselves by NY morning. The name of the game tonight was simple.. Correlation, it was superb. FXBootcamp London Currency Coach- Christian Stephens

Forex Technical Update 6/18/2010 – Yen Pauses Slide Fan Yang CTA www.fxtimes.com The bout of risk appetite that returned 2 weeks ago is being tested. There is a similar dynamic in the EUR/JPY, GBP/JPY CAD/JPY and AUD/JPY, although the commodity currencies fared better this week. The USD/JPY is still in a long-intermediate term range but is short-term bearish. Let’s take a look at these yen-crosses.

Today’s London session was extremely tedious and difficult. Quite a few of us experienced +15-25 pip trades come back to stop us out at break even or just slightly in profit. Essentially we had zilch for follow through during these 3 hours. However, there was one highly probable area of support showing up for the Japanese Yen pairings around 4:30am NY time, right in the thick of London’s market. In this video I demonstrate how we substantiated this support on multiple time frames, which means more traders are seeing the same thing, and subsequently built a trade plan after some short term higher low confirmation, to long the Yen pairs. Specifically in this video, the Eur/Jpy. Now the risk on this trade was just around 11-13 pips, while the conservative first target was only 36-40 pips away around the 132 region, 3-1 reward vs. risk ratio which is not terrible. The steady higher low’s on this trade allowed the confidence to stay in the long and keep moving ones profit stop under these lows. Now while this trade was a successful 40 pip trade or so, as luck would have it some positive JP Morgan news came out during the London lunch, and whammo a 40 pip trade was 125 pip trade in a blink. Had this news gone against we simply would have been plucked 20 pips positive or so due to a lower low. So while we have absolutely no way to know if a pair is going to reverse or not, this trade setup shows you how one can enter into a high probability setup, and should go a long way in …

Hey everyone, for this look at the European market I concentrate on the USD/Yen and Pound Yen. Both pairs have reached some fairly critical technical levels and I draw up a trade plan for both a bullish and bearish scenario. Very basic analysis employed, support and resistance and multiple time frame use. Good luck!! David Pegler