Forex Price Action Setups EUR & GBP Slide on Spanish & Greek Downgrades May 17th
Spanish Banks & Greece Downgraded, EUR & GBP Slide Have you heard this before – Spanish banks having problems, worries over Greece paying its debt and disappointing US economic data. Yep, nothing new, except that 16 Spanish banks have been downgraded which only makes the situation worse for Spain and the EZ. Bankia (remember the one that got nationalized by the Bank of Spain,...
Read MoreForex Price Action Setups – Greek Uncertainty Weighs Heavy on Euro May 16th
Greek Uncertainty Weighs Heavy on Euro & Markets Where to start…well, how about the fact it was reported an additional €500m fled the Greek banks (total of €1.2B in two days) as everyone who has two legs and can push keys in the ATM machine is withdrawing money like they will never see it again. This has only increased the risk of an all-out banking collapse in Greece which would...
Read MoreForex Price Action Setups – Euro Gets Pummeled May 15th
Euro Gets Pummeled, Global Markets Fall As you might have guessed, the EURUSD got pummeled today as continued worries over the upcoming elections in Greece and inability to form a government are increasing the odds of a Greece Exit since it has till early June before the gov’t runs out of cash. Just to give you an idea of how things are going in Greece, on Monday alone, €700mm fled the...
Read MoreForex Price Action Setups (NY Close) May 14th
Euro Hammered, Hits 4-Month Low on Greek Exit Worries As signs of a deeper recession in the Eurozone spreads with 26 Italian banks downgraded, Spanish and Italian yields at dangerously high levels, and continued worries about Greece leaving the EZ, the EURUSD got hammered selling off for the last 8+ 4hr candles or 32hrs and hitting a 4-month low. In fact, the last time the EURUSD saw this price...
Read MoreDo You Have the Willpower to Trade Successfully?
I am going to start this article with a question which could signify a major portion of your current level of success or failure in trading. The question is; Do you believe willpower (and specifically – your willpower) is a limited resource, and if so, what do you think it limits you to learn, achieve and accomplish? A follow up question to this is: If you work on a difficult task, say...
Read MoreForex Price Action Setups (NY Close) May 10th
Euro, Dow Produce Dead Cat Bounces – JPM Drops A Bomb After selling off for 8 days (Euro) and 6 days for the Dow, the markets produced a meager dead cat bounce in the two today, clinging to any relief they could get. Today, it came in the form of US claims data coming in around expectations. This really isn’t a lifeline, and more of a string of yarn to a desperate market looking...
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