Forex Daily Podcast

Our EUR trade got stopped out yesterday for a 20 pip loss. The EUR should be finished correcting and start trending down once again targeting the 1.1600 level and below. Short term it should correct yesterday's run down before moving lower. The EUR currently trades at 1.1867. The GBP moved exactly as we thought yesterday. Those of you who entered a trade up, should have been able to get 50 pips in a reasonably short amount of time. Hopefully, some of you turned around and sold the GBP. Currently either the correction is complete at 1.7590 or we are in wave b of a flat and the currency should run down to the 1.7523 level or slightly below before it's decision time. At this point the currency will either continue running lower or move impulsively up in wave c of a larger flat. If it moves up, look to trade down with a stop just above 1.7680. Let the trade get as close to this stop as possible. The GBP currently trades at 1.7569 The CHF should continue to run up. It may be in a correction for a bit as