FX Instructor Live Forex Trading Room Results | 09/26/2007

As we expected last night, we had some bullish formation on the GBP/USD at the very famous level of 2.0096. We are following a Long trade from yesterday. It should have gone further, but it did not, and we had to take profits early, as the market did not give us the moves that we expected.

As for USD/JPY, we had a similar situation, going Long around the 114.80 level. The trade went very well, and we stalled around the 76.4% level of the fib fan.

As far as GBP/JPY is concerned, we've had this view on this pair for days and even weeks now - we have a very well defined trading range for this pair for the past few days now, and we have noticed that the highs are getting lower and lows are getting higher. The range is getting narrower, and we are continuing our range trading, watching for a potential breakout.

Visit http://www.fxinstructor.com to learn more.

Category:

Howto & Style

Tags:

• FOREX
• FX
• Currency
• Training
• forex
• 4X
• trading
• traders
• currency
• profits
• forecast
• money
• euro
• dollar