Categories: Technical Analysis

Euro Falls From The Sky

Hello Friends,

Good morning, good afternoon and good evening

As I told the members of my club this morning that the market is very, very sensitive

From one side of the market we have had the news from Spain during the weekend and as result the market opened with GAPs. From the other side of the market the gaps have been closed and not only have they closed the GAPs but they closed well below GAP price.

Take for example the EURGBP:

From my point of view this is a HUGE warning sign from the market. I wouldn’t be surprised if this week we will see many zigzag moves on the major pairs.

As we get closer to next week’s Greek election it seems that the markets will be waiting to see what the outcome will be, and this is what may cause the zigzags.

As I told my club members, this week is a dangerous week for trading, and I told what I am telling you now, PLEASE trade carefully and responsibly and don’t take any unnecessary risk. If you are not sure about a trade STAY OUT.

That being said

The EURO to no one’s surprise dropped again against most of its trading pairs. This is after Spanish bonds sky rocketed as Fitch Rating which is one of the three firms that overlooks bonds issued by commercial and government entities cut 18 of Spain’s banks ratings.

Bloomberg Stats:

“The euro dropped 0.2 percent to $1.2453 at 10:39 a.m. in New York. It weakened 0.2 percent to 98.96 yen. The Japanese currency was little changed at 79.45 against the dollar. The Aussie rose 0.4 percent to 99.05 U.S. cents after adding as much as 0.8 percent. The Standard & Poor’s 500 Index rose 0.2 percent.”

Again friends we are in sensitive times, let’s not lose our hard earn profits to uncertain market conditions.

This is time that patience will pay off.

Until next time

Vladimir

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

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