Stock Market Hits Historic Lows
We have seen historic lows this week in the stock market. This coupled with the sagging global economy has driven some of the wild moves we have seen across the currencies.
New Bank Flow Levels
We have a few new bank flow levels to make you aware of. First on the GBP/USD we are seeing a buy zone set up from 1.4725 down to 1.4700. We are looking for the GBP to spike into this area for a bounce. There is some previous supports in this area too so we are using that as an additional confirmation.
Trading Strategy
A very similar situation is setting up on the EUR/USD. A buy zone is in place from 1.2410 down to 1.2370. When there is a “zone” like this, one suggested trading strategy would be to use a lighter size trade at the first level and then if the market spikes to the next level add on another trade portion.
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: <a href="https://twitter.com/YourDlyAnalysis">Twitter</a>, <a href="https://www.facebook.com/ForexTradersDaily/">Facebook</a>, and <a href="https://www.youtube.com/user/forextradersdaily/featured">Youtube</a>.
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Author: Dustin Pass
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: Twitter, Facebook, and Youtube.
