Forex Videos

In this video the Trader Guy looks at currency pair EUR/USD pair for the November 24th session.
EUR/USD — Looking at the daily chart, we obviously blew up on Friday session. This is something keep on repeating, trying to buy this pair fighting the trend and we get punished back and forth. Now we have fallen below the 1.25 level and we are at the lows again. I don't see anything that would suggest 1.2375 would be the absolute basement in this market. Having said that we are going to go much lower. I think we are going towards 1.2050 which is a roundtrip from the entire upmove we have now. The ECB should have loose Monetary Policy going forward. There is really no reason to think that you should buy this pair. Short term rally will bring in sellers. Ofcourse a breakdown of lows could bring in sellers as well. I am certainly not interested in buying this pair until we get above 1.30 level which is not going to happen anytime soon.