Forex Daily Podcast

We reevaluated all of the currencies overnight and either our correction on the EUR is complete at the Jan 6th high, or we are most likely entering into a more complex correction. Both of these alternatives mean that the EUR will most probably trade lower to the 1.1900 level or below in the near term. Our preferred path of the correction to date having the EUR immediately going up to the 1.2300 level is not out of the level is looking less probable as the chart patterns unfold. As corrections become more complex, it becomes more difficult to find good trades, so be cautious. The EUR currently trades at 1.2068. 1.7722 is likely the high of the GBP we will be looking for trade entries down unless this high is taken out. The GBP currently trades at 1.7542 The CHF is typically moves opposite of the EUR. Therefore, we are looking for trade entries up as a larger or complete correction is our now our favored alternative. The CHF currently trades at 1.2826. We reevaluated the entire JPY move from early De