FOREX VIDEO - PRE LONDON OUTLOOK SEPTEMBER 3RD 2009

Hi everyone, for this presentation I continue to build on the Euro Pound analysis that we have been concentrating on this week. I use this information to help me build a Euro USD trade plan for today. Its an interesting video in that we have to contend with changes in direction across multiple timeframes. I have outlined a few key technical zones to look for moving forward today. Good luck. David Pegler

Category:

Education

Tags:

• FXBOOTCAMP
• DAVID PEGLER
• FOREX
• CURRENCY TRADING

[pablitoaimar10]

jsg, all i can say it that i shorted EUR/USD @ 1.4340

[jsgehrke]

Pablito, this morning's 3SEP09 spike made a threefold descending alignment of lower highs visible on everything from the 60 minute to the 8 hour chart. That was a very strong rejection on the daily. Do you see that gravestone doji?

[gman7k]

thanks david ....I made the same analysis and made a few pips thx

[pablitoaimar10]

Thanks David, great vids.

@ JSG, EUR/USD has recently made a lowe high and lower low in an 8 hr triangle formation. The markets are very near key levels (Equity Indexes, Gold, USD). I'm not expecting for anything to be resolved this week though, it seems like more consolidation for today and tomorrow (unless we get some market moving comments from Trichet today :)

[krunoeleven]

Thanks David. Another interesting day ahead.

[1yakko1]

great video

[mxgms]

you got today!

[jsgehrke]

Dave, I think that if you would take a look at the 8 hour chart, you might have a more bullish view of September EUR/USD. The breach of the 4 hour trend line merely knocked the instrument to a lower uptrend channel range. That double top at 1.43 today touched the upper border of that new range, but the 8 hour clearly indicates a bullish track with the 17AUG09 low and yesterday's three asceding wick lows establishing the lower trend line of said 8 hour chart bullish channel. Love your show. JSG

[themurman321]

good job dave ... i appreciate your attention to detail.

[dmitriO6]

thanks dav