In this email I am going to give you my view on the market for today,
Monday, the 25th of January 2010.
As I write this many dollar and yen denominated pairs collapsed from
80-200pips on the Asian trade opening in about less than 2 hours of
trade on dollar/yen strength, that although somewhat expected as
given in yesterdays Weekly Outlook, we expected it more towards the
end of the week. Maybe it is a precursor of things to come as
recovery trade has now failed in a choppy fashion and new lows are
being made in these pairs. We will look to play both sides if
possible in the room today. Just to make things more interesting,
German Ifo Business Climate Report and the UK GDP are set to be
released during the London Session at 1:00AM and 1:30AM EST
respectively. These are big impact reports and we will expect a busy
day in the Trading Room today both before and after these reports are
released. Trading volatility should increase as the day wears on so
position size and stop placement will be crucial to remain in
position to capitalize on some opportunities in the sessions going
forward.
*For todays swing trade is to BUY GBP/JPY at 145.32 145.35 with a
stop near 145.10. We are looking for an initial target 146.10 for 80
PIPS.*
That's it for today. Remember that I trade in the Live Forex Trading
Room between 1am-6am Eastern Time. I will be hosting my regular 3-4
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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