Learn To Trade Price Action with Nial Fuller...
PRICE ACTION FOREX TRADING COURSE
Trading Setups / Chart in Focus:
EURUSD
The EURUSD finally broke out of its recent consolidation range today, breaking down and closing below 1.3600 support. We are now looking to sell on rallies into resistance. We will watch the dynamic resistance near the recently crossed lower 8 / 21 day EMAs for price action sell signals on any rotations higher.
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Forex Commentary:
In the currency markets today, the EURUSD broke and closed below 1.3600, losing significant ground on the back of news that Italy could be the next euro-zone nation consumed by the region’s debt crisis.
The British pound moved to $1.5904 from $1.6095 yesterday. The greenback rose to 77.80 yen from 77.68, and to 1.0245 Canadian dollars from 1.0091.
The Aussie dollar lost significant ground to the greenback today as support near the 21 day EMA gave way.
Other Markets:
In the U.S. markets today, stocks moved significantly lower on the back of rising borrowing costs in Italy, this worked to cast further doubt on the ability of Europe to recover from its debt crisis.
The Dow lost 389.24 points, or 3.2%, the S&P 500 lost 46.82 points, or 3.7%, and the Nasdaq lost 105.84 points, or 3.9%.
Upcoming important economic announcements: 11/10/2011
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