€ The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2250 level and was capped around the $1.2355 level. European sovereign debt concerns were back at the forefront today and these led to a weaker common currency. European Union Economic and Monetary Affairs Commissioner Rehn reported "Contrary to what some people argue, Europe is not suffocating growth by this strategy of fiscal consolidation. What we are doing is putting our fiscal houses in order in a gradual, differentiated way: faster where the doubts about fiscal sustainability have been biggest, and slower elsewhere." There is talk that the U.S. and Europe are at odds over a coordinated economic policy. The former is said to favour higher levels of deficit spending to stimulate economic growth while the latter is said to support reduced fiscal spending and would be comfortable with reduced economic output. The European Union is currently evaluating sanctions for "inadequate debt trajectory" and may consider a tax on bond issues by highly-indebted countries. Eurogroup Chairman Juncker reported the economic recovery "remains fragile and loaded with risks." The common currency's standing in many central banks' reserve portfolios is diminishing, a reflection of the currency's recent volatility and the eurozone's significant debt woes. German Chancellor Merkel reiterested Germany wants a stable euro and an independent European Central Bank. European Central Bank member Ordonez said Bank of Spain will publish banks' stress test results as soon as possible. Data released in the eurozone today saw the EMU-16 April current account print at -€5.1 billion, down from the revised prior reading of +€1.5 billion, while EMU-16 June consumer confidence improved to -17. German data saw the June Ifo business climate indicator improve to 101.8 while the expectations sub-index receded to 1 [...]
Forex trading - live day trading course and currency trade room.
Wednesday, June 23, 2010
Sunday, June 13, 2010
S&P500 day trading course Daily chart pre market
S&P500 day trading course Daily chart pre market. [caption id="attachment_2333" align="alignleft" width="197" caption="S&P500 day trading course Daily chart pre market"]
[/caption] 1080 was the Daily Point of Control for Friday and we closed above it. It was a light volume day with a small bullish range. The world cup probably had a major effect as most of the trading houses were watching the game. 1087.75 is the 200 EMA which professional traders use as a basis for congestion between here and the 200MA which is coming close tot he 1100 Mark. I am expecting a test up. If we close above the 200 MA then looking for a futher move to the 1139.25 resistance. It seems that we are completely missing a high volume rally and that most of the market makers are in short term positions probably hedging into all buys. Summer seems to be setting in, I hope we don't see a summer volume drop off.
S&P 500 day trading course
[/caption] 1080 was the Daily Point of Control for Friday and we closed above it. It was a light volume day with a small bullish range. The world cup probably had a major effect as most of the trading houses were watching the game. 1087.75 is the 200 EMA which professional traders use as a basis for congestion between here and the 200MA which is coming close tot he 1100 Mark. I am expecting a test up. If we close above the 200 MA then looking for a futher move to the 1139.25 resistance. It seems that we are completely missing a high volume rally and that most of the market makers are in short term positions probably hedging into all buys. Summer seems to be setting in, I hope we don't see a summer volume drop off. S&P 500 day trading course
Thursday, June 10, 2010
S&P500 day trading course daily chart
S&P500 day trading course daily chart in live day trading room. Support and resistance. [caption id="attachment_2326" align="alignleft" width="197" caption="S&P500 emini futures daily chart june 10 "]
[/caption] We are still in a bearish channel with lower highs and decreasing volume on the rallies. Low volume today as we have a contract change to September Emini futures contract. Our daily average volume is around the 2.58 million mark based on 13 days. The point of control for direction is 1080.50 on the weekly chart and it is transferred on to the daily chart showing us an area of resistance. Looking for it to retest the 1087-1097 area Friday from a low of 1068. Watch your self into the close on Friday, Europe's close could give some indication of direction. Looking at the 30 minute Chart on the S&P500 emini futures September contract: [caption id="attachment_2327" align="alignleft" width="197" caption="S&P500 day trading course 30 min chart 6-10"]
[/caption] Lots of price failure on the move to 1067. Could expect this to be a bullish flag pattern with a 1080 ta [...]
S&P 500 day trading course
[/caption] We are still in a bearish channel with lower highs and decreasing volume on the rallies. Low volume today as we have a contract change to September Emini futures contract. Our daily average volume is around the 2.58 million mark based on 13 days. The point of control for direction is 1080.50 on the weekly chart and it is transferred on to the daily chart showing us an area of resistance. Looking for it to retest the 1087-1097 area Friday from a low of 1068. Watch your self into the close on Friday, Europe's close could give some indication of direction. Looking at the 30 minute Chart on the S&P500 emini futures September contract: [caption id="attachment_2327" align="alignleft" width="197" caption="S&P500 day trading course 30 min chart 6-10"]
[/caption] Lots of price failure on the move to 1067. Could expect this to be a bullish flag pattern with a 1080 ta [...] S&P 500 day trading course
Wednesday, June 9, 2010
S&P500 day trading course intra day
S&P500 day trading course intra day trading chart coming into resistance. [caption id="attachment_2320" align="alignleft" width="221" caption="S&P500 day trading course intraday chart"]
[/caption] open gaps 1156.25, 1112.75, and 1102.50, a gaps to the downside at 972.25 and 902.00. We hit the major support at 1042. area and have been in a pretty tight up trend with lots of commitment. 1077.75 is holding a lot of resistance and we could bounce in this area until the end of day. Next area of resistance is 1086.75 then 1099.75 and extreme high of 1106.75. For support we have the point of control at 1067.50 then 1062.25. Under here is a congestion zone which you can see on a daily chart with a test down to 1040 area. I have a sell off extreme low set for 1029.50. Today we have an FOMC meeting at 2:00 so I expect us to consolidate into the meeting with some volatility coming in later.
S&P 500 day trading course
[/caption] open gaps 1156.25, 1112.75, and 1102.50, a gaps to the downside at 972.25 and 902.00. We hit the major support at 1042. area and have been in a pretty tight up trend with lots of commitment. 1077.75 is holding a lot of resistance and we could bounce in this area until the end of day. Next area of resistance is 1086.75 then 1099.75 and extreme high of 1106.75. For support we have the point of control at 1067.50 then 1062.25. Under here is a congestion zone which you can see on a daily chart with a test down to 1040 area. I have a sell off extreme low set for 1029.50. Today we have an FOMC meeting at 2:00 so I expect us to consolidate into the meeting with some volatility coming in later. S&P 500 day trading course
Tuesday, June 8, 2010
EURUSD Forex trading Asia open
Forex day trading pre Asia open levels of support and resistance. [caption id="attachment_898" align="alignleft" width="274" caption="eurusd forex trading Asia open june 9"]
[/caption] 1.2151 is the area of resistance for a maximum swing high. If we get news that the Trillion dollars is delegated and the swiss are still buying euro, we could see the swing up. 1.2028-58 is a resistance zone where there will be fighting over direction. Getting in before it enters here might save you the choppiness. Watch for 1.1985 area as this is where it will stall to either turn or break through the 1.2000 psychological resistance the ECB wants to get above. This is a major hinging level for the next move down. If we close above on an 8 hour chart support could hold, below we could be looking at next level down. Extreme swing low of 1.1680.
Forex trading - live day trading course and currency trade room.
[/caption] 1.2151 is the area of resistance for a maximum swing high. If we get news that the Trillion dollars is delegated and the swiss are still buying euro, we could see the swing up. 1.2028-58 is a resistance zone where there will be fighting over direction. Getting in before it enters here might save you the choppiness. Watch for 1.1985 area as this is where it will stall to either turn or break through the 1.2000 psychological resistance the ECB wants to get above. This is a major hinging level for the next move down. If we close above on an 8 hour chart support could hold, below we could be looking at next level down. Extreme swing low of 1.1680. Forex trading - live day trading course and currency trade room.
Monday, June 7, 2010
S&P500 day trading course daily chart targets
S&P500 day trading course daily chart targets during NY market. [caption id="attachment_2316" align="alignleft" width="226" caption="S&P500 day trading course inverted head and shoulders"]
[/caption] We could be looking at an inverted Head and shoulders on S&P500 emini futures daily chart. If we close in a doji we could see another test up to the 1081 area. This is key resistance and if we close above there, there is a good chance we close above the 1107 major resistance soon. Fundamentals are not showing this, just the pattern with an inverted head and shoulders. Would be looking for a move back to 1175 if the neck line is broken and 1127 is breached with commitment. If the market stalls on the move up on the downside we are looking at support at 1035 and an extreme low of 1017.25. Light volume could keep feeding this markets mini rallies. Euro is really effecting the direction here. If we get an over 5 million contract day will be looking for a break of 1000. We are going to be in Montreal June 19-21 for a three day trading seminar where we focus on price action, support and resistance and risk management. Join us.
S&P 500 day trading course
[/caption] We could be looking at an inverted Head and shoulders on S&P500 emini futures daily chart. If we close in a doji we could see another test up to the 1081 area. This is key resistance and if we close above there, there is a good chance we close above the 1107 major resistance soon. Fundamentals are not showing this, just the pattern with an inverted head and shoulders. Would be looking for a move back to 1175 if the neck line is broken and 1127 is breached with commitment. If the market stalls on the move up on the downside we are looking at support at 1035 and an extreme low of 1017.25. Light volume could keep feeding this markets mini rallies. Euro is really effecting the direction here. If we get an over 5 million contract day will be looking for a break of 1000. We are going to be in Montreal June 19-21 for a three day trading seminar where we focus on price action, support and resistance and risk management. Join us. S&P 500 day trading course
Sunday, June 6, 2010
Twitter Weekly Updates for 2010-06-06
- #S amp;P500 #daytrading #chart on http://www.moneymakeredge.com/blog #
- $eurusd $fx #currency managed funds Forex day trading Chinese PMI expands #
- Anyone else think the CB just finished their programmed buying on the EURUSD? #eurusd $$ #forex #fx #
- #futures #trading #FX S&P 500 Daily Tradin... http://bit.ly/cgA4kM #
- S&P500 day trading course live room: S&P500 day trading course live room levels of support and resistance. S&P500 ... http://bit.ly/dzZjCm #
- Japanese PM resigns ov er Okinawa. #
- S&P500 day trading course live room http://bit.ly/aXF3dI [...]
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