Daily Trade for Jan. 27, 2010

Hi everyone,

In this email I am going to give you my view on the market for today,
Wednesday, the 27th of January 2010.

As I write this many dollar and yen denominated pairs reversed from
making new monthly lows into some previous areas of congestion and
defined resistance on many pairs. The GBP/JPY monster trade has
reentered the previous defined trading range and we are stopped out;
it is now attempting to come back in a choppy fashion as levels of
resistance are taken out. We will reevaluate the monster trade in
the next Weekly outlook and look to play both sides if possible in
the room today. With two reports due out, Eurozone Consumer
Confidence and German Unemployment Change, these reports set to be
released during the London Session at 1:00AM and 2:00AM EST
respectively, will help lend some volatility to the session. These
are medium impact reports and the impact is expected to be muted but
should provide some PIPs 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 SELL EUR/JPY at 146.33  146.37 with a
stop near 146.65. We are looking for an initial target 145.65 for 70
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
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*Mr. Green*

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