Learn To Trade Price Action with Nial Fuller...
PRICE ACTION FOREX TRADING COURSE
Trading Setups / Chart in Focus:
AUDUSD
The AUDUSD pin bar strategy that we discussed in yesterday’s commentary has come off aggressively to the upside today, netting savvy price action traders some serious pips. Many of our members in the forum caught this obvious price action setup off support as it was discussed heavily in the members’ area. Note how simple it is to trade with price action setups at horizontal levels in this market, this chart is proof that you do not need to trade complicated trading strategies with indicators to make money in the markets.
Check out this cool new Forex trading lesson: The Simplest Forex Trading Strategy in the World
Special Note: This Month I’m Offering A Discount On My Forex Price Action Trading Course and Price Action Traders Community. To Find out More Visit the Price Action Forex Trading Course Page Here.
Forex Commentary:
In the currency markets today, the EURUSD had its biggest gain since March of 2009, hitting the $1.4200 level for the first time since September. This came after leaders in Europe agreed on a plan to contain Greek debt and bolster the euro-zone bailout fund.
The EURUSD moved to $1.4188 today, up from $1.3904 yesterday.
The U.S. dollar index was down about 1.62 percent today. The dollar index tracks the greenback against six other major currencies.
The AUDUSD surged to $1.0727 from $1.0397 yesterday. The dollar was also down against the other majors.
Other Markets:
In the U.S. markets today, stocks pushed dramatically higher, gaining about 3 percent on the back of an agreement by leaders in the euro-zone to assist in containing the area’s debt crisis.
The Dow added 339.51 points, or 2.86 percent, the S&P 500 gained 42.59 points, or 3.43 percent, and the Nasdaq added 87.96 points, or 3.32 percent.
Upcoming important economic announcements: 10/28/2011
5:30am EST: Switzerland – KOF Economic Barometer
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