FOREX VIDEO - New York Session Review - November 5, 2009
Posted 11-06-2009 at 04:09 PM by FxBootcamp.com
The British pound exhibited a firmer tone following the announcement by the Bank of England that it would expand its quantitative easing program by £25B, less than the market consensus of a £50B increase. That fundamental news, in combination with prior visual support, moving averages on multiple time frames, a trendline, and a Fibonacci retracement level, contributed to a trade plan for buying the GBP/USD currency pair soon after the U.S. equity market open. The long trade on cable yielded up to 70 pips [depending on exit strategy].
Curt Wehrley
FX Bootcamp’s Quantitative Analyst
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. FX Bootcamp, LLC will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. FX Bootcamp, LLC will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
