Daily Trade for Jan. 19, 2010

Hi everyone,

In this email I am going to give you my view on the market for today,
Tuesday, the 19th of January 2010.

Yesterdays listed trade to BUY EUR/GBP was closed before the release
of UK CPI with a marginal gain but avoiding any loss after the report
was released. Again, the markets in general were biding time in a
range bound fashion as pair trades were very tight and narrow, barely
offering 20-30PIP scalp trades equivalent to risks taken. These are
trades we prefer not to take, however with the surprise to the upside
in UK inflation readings and recent dollar strength, traders seem to
be repositioning themselves accordingly and many pair trades saw
increased volatility after the release. Trading volatility should
increase as position squaring continues, leading to some
opportunities in the sessions going forward.

*For todays swing trade is to SELL a retrace of EUR/JPY at 130.07 
130.12 with a stop at 130.38- 130.42. We are looking for an initial
target of 129.00.*

That's it for today. Remember that I trade in the Live Forex Trading
Room between 2am-6am Eastern Time. I will be hosting my regular 4
hour session and assessing and exploiting PIP opportunities as they
arise.

Enjoy trading and good luck everyone!

*Trade with Mr. GREEN for $39.00/trial for 1 WEEK*

*

Trades are issued in real time, including exact entries, exits and
detailed explanations. The service costs $99 per month, and we also
offer a 7-day trial for $39. So go to GreenForexTrading.com and take
advantage of this special offer.*

*Mr. Green*

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