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How To Trade Forex - Trading Gurus Reveal Their Secrets - Part 2

Experts:

• Rob Booker, author of "Adventures of a Currency Trader" and Founder of TraderRadio.net
• James Chen, Chief Technical Strategist at FX Solutions
• Andrei Pehar, Chief Currency Strategist at fxKnight.com and author of "Trading Forex for a Living"

Summary:

Are you already making money trading Forex, or are you looking for better ways to trade?

What about your trading strategy: Does it perform as you expected or would you like to have a strategy that really works? Do you want to know how others "made it?"

You can see here Part 1

Fed Interest Rate Decision Live Coverage

FED Interest Rates Decision Live Coverage with Valeria Bednarik

(03/16/2010)

  

Close

6:00	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Tuesday March 16, 2010 6:00 FXstreet.com

6:01

FXstreet.com:  Trading OTC Forex 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 invest in foreign exchange or futures 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 and futures trading, and seek advice from an independent financial advisor if you have any doubts. Tuesday March 16, 2010 6:01 FXstreet.com

6:02	FXstreet.com:  Good day everybody, Welcome to today's Federal Reserve interest rate decision Live Coverage in FXstreet.com Tuesday March 16, 2010 6:02 FXstreet.com

6:03	FXstreet.com:  Valeria Bednarik, FXstreet.com collaborator, will drive us throughout the decision and she will provide us with her advices and thougths. Tuesday March 16, 2010 6:03 FXstreet.com

6:04	FXstreet.com:  Good day Valeria! Tuesday March 16, 2010 6:04 FXstreet.com

6:04	Valeria Bednarik:  Hi everyone, and welcome to this live coverage! We are here waiting for latest FOMC decision regarding economic policy. Market is really expecting no changes in the rates, yet reactions will depend on comments. Tuesday March 16, 2010 6:04 Valeria Bednarik

6:04	[Comment From WimWim: ]  Hi Valeria. Any thoughts on the euro? Do you still expect to rise above the 1.3800 figure? Tuesday March 16, 2010 6:04 Wim

6:05

Valeria Bednarik:  Hi all, and welcome! What I have been saying these days, is that, unless the pair breaks above that area, that represents the 50% retracement of past year rally , we have no clear signs of a trend. Pair has been ranging in between 350 pips, since early February. mid ter talking is just a consolidative stage. Tuesday March 16, 2010 6:05 Valeria Bednarik

6:06	Valeria Bednarik:  However, it the pair actually manages to close a daily, or better a weekly candle above that area, will be pointing, yes for further gains Tuesday March 16, 2010 6:06 Valeria Bednarik

6:06	[Comment From GuestGuest: ]  hi Tuesday March 16, 2010 6:06 Guest

6:06	[Comment From Arun KandyalArun Kandyal: ]  Hi Val how r u? where do you expect GBP technicaly during month end it seems big boys want some more downward thx. Tuesday March 16, 2010 6:06 Arun Kandyal

6:08

Valeria Bednarik:  I see Gbp/Usd, strongly capped the past two week, or so, by the 1.5230 area. Even if we break higher today with the data, pair needs to overcome the 1.5350 zone to change the bearish trend of these past days. What I also had comment with you all several times, is that BOE is working hard to keep Pound weak, i believe in order to improve their economy sooner. Tuesday March 16, 2010 6:08 Valeria Bednarik

6:08	[Comment From YuryYury: ]  Valeria, good day! Hope you are well! Please, express your thoughts re GBP/USD trend after rates decision. Thanks. Tuesday March 16, 2010 6:08 Yury

6:09

Valeria Bednarik:  Short term talking, that 1.5230 area seems key. If we break higher an accelerates, I see 1.5280 as first resistance area, ahead of 1.5310 and 1.5350 mentioned above. On contrary, if pair loses 1.5160 support again, will probably lose further and approach to the 1.5110. Tuesday March 16, 2010 6:09 Valeria Bednarik

6:10	Valeria Bednarik:  As usual, give the market 15 minutes to digest the news, after released. Ignore first spikes, be patient. Better miss some pips than lose a trade, and market will be here after news Tuesday March 16, 2010 6:10 Valeria Bednarik

6:10	[Comment From MihaiMihai: ]  Hola Valeria Tuesday March 16, 2010 6:10 Mihai

6:10	[Comment From GuestGuest: ]  what u think now pound will raise or down if rate is not changed Tuesday March 16, 2010 6:10 Guest

6:10	FXstreet.com:  Fxstreet.com exclusive research: Consensus says Fed to leave rates unchanged Tuesday March 16, 2010 6:10 FXstreet.com

6:11	Valeria Bednarik:  Guest, I do believe that won't be rates, but statment, remove or extension of QE... comments about extremely low rates for an extended period what can move currencies. Tuesday March 16, 2010 6:11 Valeria Bednarik

6:11	[Comment From RohitRohit: ]  what will be effect on gold if fed Increase rates? Tuesday March 16, 2010 6:11 Rohit

6:12

Valeria Bednarik:  The effect will likley hit dollar, and so gold will move in the opposite direction of greenback gold will suffer the consequences of dollar reaction, yet gold has been quite bullish today, as well as euro, and pound, and in general all risky assets... so seems we have chances of a trend continuation Tuesday March 16, 2010 6:12 Valeria Bednarik

6:12	[Comment From SushantSushant: ]  Hi Valeria. Holding long positions in euro. Shall i close it before rate decision is out Tuesday March 16, 2010 6:12 Sushant

6:13

Valeria Bednarik:  I can't take the decision for you, but If you are a short term trader, do you really think is worth it to take the risk of a 100 pips movement against you? I don't expect such reaction today.. but is a posibility.. and in forex, we had to take into account all posibilities. ;) Tuesday March 16, 2010 6:13 Valeria Bednarik

6:13	[Comment From Arun KandyalArun Kandyal: ]  HI Val Do you see GBP 1.6200 til mid april thx. Tuesday March 16, 2010 6:13 Arun Kandyal

6:14

Valeria Bednarik:  hi Arun, in fact is quite far away. As comment, 1.5335 seems to be the key midterm inflection point. If pair really manages to break above that, next strong area comes around 1.5770 and really I expect that level to cap the upside. Only above that one, we could talk about 1.60 Tuesday March 16, 2010 6:14 Valeria Bednarik

6:14	FXstreet.com:  FED leaves unchanged at 0.25% its interest rate Tuesday March 16, 2010 6:14 FXstreet.com

6:14	[Comment From KevinKevin: ]  Hello Valeria, Thanks for spend some time with us today. depending on what the fed says do you think we will see a rally in the dollar followed by a rally in the EUR as in the past? Tuesday March 16, 2010 6:14 Kevin

6:16	FXstreet.com:  Also, the Fed has decided to keep its discount rate at 0.75% Tuesday March 16, 2010 6:16 FXstreet.com

6:16

Valeria Bednarik:  Lately, market seems to be pricing in almost everything.. and rates decisions seem quite disappointing regarding the number of pips moved. However, being pound and euro so close to strong resistance areas, I will follow their behaviour for the next 30 minutes or so. Tuesday March 16, 2010 6:16 Valeria Bednarik

6:16	Valeria Bednarik:  still believe there are no real reasons for those two to rise, from the fundamental side. Let me take a look at fed comments! Tuesday March 16, 2010 6:16 Valeria Bednarik

6:17	Valeria Bednarik:  Hoenig Concerned `Extended Period' May Cause Imbalances Tuesday March 16, 2010 6:17 Valeria Bednarik

6:18

Valeria Bednarik:  ok.. that means some members of FED will start rising rates sooners. Dollar has jumped to the downside, pre report, but is positive since news released. euro testong 1.3730 area, watch for an acceleration to 1.3710 and 1.3680 if extends Tuesday March 16, 2010 6:18 Valeria Bednarik

6:19	[Comment From tttt: ]  your personal viw please ,when FED is expected to raise rate Tuesday March 16, 2010 6:19 tt

6:19	Valeria Bednarik:  Good question! my personal view is second half of this year. not earlier. Tuesday March 16, 2010 6:19 Valeria Bednarik

6:21

Valeria Bednarik:  gold is losing ground on dollar gains, and yen testing the 90.15 area, daily 100 SMA.However, reaction has been quite limited till now. Pound retreat from 1.5230 area, yet remains quite close, attempting to break higher. as long as above 1.5200 let's see if it can Tuesday March 16, 2010 6:21 Valeria Bednarik

6:21	[Comment From GuestGuest: ]  Hi Val the gbpusd seems to be holding near highs is that an indicatioon that the FOMC will push it higher? Tuesday March 16, 2010 6:21 Guest

6:22	Valeria Bednarik:  pre report movements had been just positioning adjustmnets.. However, see AUD, CAD and GBP close to daily highs against dollar, and gold erasing loses of the first spile to the downside, also approaching to daily high Tuesday March 16, 2010 6:22 Valeria Bednarik

6:22	Valeria Bednarik:  that's why is better to wait a couple of minutes and set probably entry points, before the news. Tuesday March 16, 2010 6:22 Valeria Bednarik

6:22	[Comment From SanjaySanjay: ]  Hi,Why does USD/JPY drops lower inspite of strong stocks. Is JPY stronger? Tuesday March 16, 2010 6:22 Sanjay

6:23	Valeria Bednarik:  Japanese yen, is in fact trapped in a short range, ahead of tonights Bank of Japan rates decision... it spiked to the downside for a few minutes yet is back almost at prereport levels. Tuesday March 16, 2010 6:23 Valeria Bednarik

6:25

Valeria Bednarik:  Yen tends to appreciate in March due to capital repatriation as is the end of the fiscal year in Japan. However BOJ has made a point saying they wont let the currency appreciate that much. so I really expect it to remain ranging these days, with no definitions. We have a daily trend line around 91.20 coming from past January highs.. capping the upside at this point. Also not an easy level to break Tuesday March 16, 2010 6:25 Valeria Bednarik

6:25	[Comment From GuestGuest: ]  Hi, any thoughts on aud nzd. Thanks Tuesday March 16, 2010 6:25 Guest

6:26

Valeria Bednarik:  Australia is one of the stronger economies around the world, and has been rising rates. NZD is attached to AUD due to their comercial relationship.. i expect both to remain strong as they have been lately, supported by gold. Aud key support lies at the 0.9060/70 zone. as long as above it, chances are to the upside Tuesday March 16, 2010 6:26 Valeria Bednarik

6:27	[Comment From laulau: ]  hi valeria what do u think about gold price ? up and down , down and up.... Tuesday March 16, 2010 6:27 lau

6:28

Valeria Bednarik:  yet at the end, mostly up. I have been commenting several times that the metal is more than well supported by 1080/1100 area.. really I don't expect it to lose that level. However, 1.200 seems a bit too much these days.. and this up and down reatctions are just due to report.. we will settle down in a couple of minutes Tuesday March 16, 2010 6:28 Valeria Bednarik

6:29	[Comment From RioRio: ]  what just happened... already 230! Tuesday March 16, 2010 6:29 Rio

6:29	Valeria Bednarik:  Sorry Rio, what do you mean? Tuesday March 16, 2010 6:29 Valeria Bednarik

6:29	[Comment From Arun KandyalArun Kandyal: ]  Thx Val Tuesday March 16, 2010 6:29 Arun Kandyal

6:29	[Comment From Arun KandyalArun Kandyal: ]  When BOE wil raise rates after fed ?thx. Tuesday March 16, 2010 6:29 Arun Kandyal

6:30	Valeria Bednarik:  i do believe that not BOE not ECB will dare to rise rates before FED.. And regarding particularly BOE, at this point, they are quite unwilling to rise rates.. if they will change their minds in 2 3 or 6 months, I don't know. Tuesday March 16, 2010 6:30 Valeria Bednarik

6:30	[Comment From RioRio: ]  also tonite, look for speech from BoEs Bean at 19:00 GMT... likely to give some downside correction to the pound! Tuesday March 16, 2010 6:30 Rio

6:31	Valeria Bednarik:  As comment above, BOE is in fact supporting a lower currency, by their acts these past two months. Let's see what comments bring later today. Tuesday March 16, 2010 6:31 Valeria Bednarik

6:32	Valeria Bednarik:  anyway, majors losing some ground, with no aims to extend the upside. Pound was unable to overcome the 1.5230 mentioned area, and approaches to 1.5200 Tuesday March 16, 2010 6:32 Valeria Bednarik

6:32	[Comment From hanna bourihanna bouri: ]  hi, do you think that gbp will go lower before going up or what, secondly what about tomorrow bank of england minutes. thanks Tuesday March 16, 2010 6:32 hanna bouri

6:33	Valeria Bednarik:  I do believe that as long as capped by 1.5230, chances are to the downside, and tomorrow minutes, if they all voted along 9/9 to keep current economic policy, likely to favor more downside in the pair. Tuesday March 16, 2010 6:33 Valeria Bednarik

6:34	[Comment From AbhijitAbhijit: ]  No reason seems for gbp or eur to goup after FED results, what do you think ? Tuesday March 16, 2010 6:34 Abhijit

6:36

Valeria Bednarik:  That they don't need FED to find reasons for not raising.. euro zone is suffering deep economic issues, and seems unable to solve it. Another EU prime ministers meeting today come out with a result that they will review Greece issues in April, offering no real or material solutions to the problem.. really I cna't see Euro at 1.40. But that's a personal view. market sometimes behave pretty weird Tuesday March 16, 2010 6:36 Valeria Bednarik

6:36	[Comment From blobblob: ]  Hi, do you think gbp/usd will be sold off in the asian session Tuesday March 16, 2010 6:36 blob

6:37	Valeria Bednarik:  Not really, I would expect to lose ground yes, but sold off seems a bit too much; probably investors will remain cautious ahead of Minutes. If we are going to see some strong rally in pound one way or the other, should be after that. Tuesday March 16, 2010 6:37 Valeria Bednarik

6:37	[Comment From mzmz: ]  the bullish trend in the risk currencies have finally firmed Tuesday March 16, 2010 6:37 mz

6:38	Valeria Bednarik:  Tks for sharing with us, really, I don't see that, at least from a technical perspective. I want some further confirmations.. maybe i'm too conservative, but as long as euro remains under 1.3800.. for me is not time yet Tuesday March 16, 2010 6:38 Valeria Bednarik

6:38	[Comment From Ylber PatokuYlber Patoku: ]  Hi Valeria, what do you think about USD/JPY will do after BoJ decision tonight? Do you expect any major moves?! Tuesday March 16, 2010 6:38 Ylber Patoku

6:40

Valeria Bednarik:  Will depend if thet announce another capital injection as they did past Noember I believe... they tend to talk more than do so, probably, will do nothing, no injections, no rate hikes, and that should give some confidence to yen buyers. Tuesday March 16, 2010 6:40 Valeria Bednarik

6:41	Valeria Bednarik:  ok after 30 minutes..majors are barely unchanged form prereport levels. Tuesday March 16, 2010 6:41 Valeria Bednarik

6:41	[Comment From saleemsaleem: ]  please what about gbp i am short already and it still rising what do you think close or wait Tuesday March 16, 2010 6:41 saleem

6:42	Valeria Bednarik:  My friend, I'm sorry I can't take the decision for you.. but as comment above, watch the 1.5230 area.. a 4 hours ccandle close above it, will technically point for some further upside rallies. Tuesday March 16, 2010 6:42 Valeria Bednarik

6:42	[Comment From GuestGuest: ]  where do u see gbp/jpy is going Tuesday March 16, 2010 6:42 Guest

6:45

Valeria Bednarik:  Sorry I was looking te chart carefully. Pair has been quite bearish these past 2 months, and what i can see is that current movment close to 138.00 area, could be understood as barely corrective. 138.60 is in fact a strong resitance area to follow, mid term talking If pair loses 135.20 again in the next couple of days without overcoming mentioned 138.60 zone, likely to resume downtrend Tuesday March 16, 2010 6:45 Valeria Bednarik

6:45	[Comment From SaryuSaryu: ]  Val, what is the tone of FED from today's announcement? Is it dowish or mixed of both? Tuesday March 16, 2010 6:45 Saryu

6:46	Valeria Bednarik:  let me take a look..I'm answering questions and seems quite difficult to also read, and watch charts.. Tuesday March 16, 2010 6:46 Valeria Bednarik

6:48	Valeria Bednarik:  ok what I have read quickly.. lead me to thing no changes in past perspective, with a slightly positive view for the economy in the future to come.. mixed I will say Tuesday March 16, 2010 6:48 Valeria Bednarik

6:48	[Comment From tiet VNtiet VN: ]  hi, pls. some hint on cadusd, thanks Tuesday March 16, 2010 6:48 tiet VN

6:50

Valeria Bednarik:  Pair has been quite bullish and still has no signs of reversing current trend. With oil around $ 82 a barrel, and having stablished a confortable floor around $ 80,00 I would expect usd/cad to extend the bearish trend and probably approach to paritiy in the next couple of weeks. support levels to watch from here are 1.0130 1.0080 and 1.0000 Short term resistances are at 1.0170 1.0210 and very strong 1.0250 as long as under this last, I don't see any probable upside recovery. Tuesday March 16, 2010 6:50 Valeria Bednarik

6:50	[Comment From tttt: ]  what level of umployment rate ,how much improvement should be enough to make fed raise rates since obviously unemployment is too high at teh moment Tuesday March 16, 2010 6:50 tt

6:52	Valeria Bednarik:  That's a very good question, and yes in fact, one of the reasons why Fed wont rase rates. Probably, under 9.0% we will see them start consider acting.. anyway I do believe is mostly a matter of time than unemployment% Tuesday March 16, 2010 6:52 Valeria Bednarik

6:52	[Comment From pepepepe: ]  hi Valeria, can we sell GBP/USD at 1.5280 or not ? Tuesday March 16, 2010 6:52 pepe

6:53	Valeria Bednarik:  not really for me.. as comment above, if above 1.5230, likely to gain more ground during next hours.. it will depend on how and when, pair reaches that level. Tuesday March 16, 2010 6:53 Valeria Bednarik

6:53	[Comment From Dr. RobDr. Rob: ]  Hi Val. Knowing the intent of the BoE wanting lower rate for cable, and looking at the weekly chart as we discussed some time past, when do you think the lower leg will resume the downtrend to reach about 1.4450? Tuesday March 16, 2010 6:53 Dr. Rob

6:54	Valeria Bednarik:  Hi Dr Rob, and nice to see you here. I would love to see a new daily close under 1.4980 area. If pair manages that, I yes would expect to break under 1.4770 lows, and approach to that target zone Tuesday March 16, 2010 6:54 Valeria Bednarik

6:54	[Comment From elieli: ]  eur/usd ? Tuesday March 16, 2010 6:54 eli

6:55	Valeria Bednarik:  Euro is holding above 1.3730 support attempting to regain the upside, still quite disappointing reaction at this point. let's see if manages to accelerate above daily high Tuesday March 16, 2010 6:55 Valeria Bednarik

6:56	Valeria Bednarik:  stocks are losing some ground and so do dollar particularly against commodity currencies. Tuesday March 16, 2010 6:56 Valeria Bednarik

6:56	[Comment From RitchieRitchie: ]  Any comments on NZD/USD pls. Tuesday March 16, 2010 6:56 Ritchie

6:58	Valeria Bednarik:  as comment above, being New Zealand economy so highly related to Australian one, and with Aud strongly bullish, I will expect NZD tto keep on rising. 0.7100 0.7145 and 0.7200 are the probable targets to the upside. Tuesday March 16, 2010 6:58 Valeria Bednarik

6:58	[Comment From peterpeter: ]  Hi. what do you think eur/jpy will do after boj decision tonight Tuesday March 16, 2010 6:58 peter

6:59	Valeria Bednarik:  Will depend on the BOJ. technically pair is bearish; if they do some kinf of intervention, probably jump above 125.20/30 resistance area, and manage to extend the upside Tuesday March 16, 2010 6:59 Valeria Bednarik

6:59	[Comment From heruheru: ]  valeria if eur/usd in 1.3700 this time, may be eur/usd go 1.3800 for tomorrow ? Tuesday March 16, 2010 6:59 heru

7:00	Valeria Bednarik:  Is a probability my friend.. but I can tell for sure what will happen tomorrow... Tuesday March 16, 2010 7:00 Valeria Bednarik

7:00	[Comment From AvaAva: ]  Hi Val, do you think Aud/Usd will be down to Feb low of 0.85ish any time soon? What's your take on its range? Tuesday March 16, 2010 7:00 Ava

7:01	Valeria Bednarik:  Not really. Despite 0.9200 strength, i won't expect the pair to fall that low anytime soon. as comment above, is the strongest currency across the board, and the only economy able to be rising rates Tuesday March 16, 2010 7:01 Valeria Bednarik

7:02	[Comment From SaryuSaryu: ]  Thanks Val. Tuesday March 16, 2010 7:02 Saryu

7:02	[Comment From ELDERFESTELDERFEST: ]  val if am to asked, what is your idea about usd/jpy Tuesday March 16, 2010 7:02 ELDERFEST

7:04

Valeria Bednarik:  Honestly, I would expect some further strength in the ten this month, due to capital repatriation, but limited by BOJ I really don't see the pair losing the 90.00 level in the short term, either raising above 93.00.. will likely remain in range till end of month. That's my take Tuesday March 16, 2010 7:04 Valeria Bednarik

7:05	[Comment From AvaAva: ]  Thanks Val. Tuesday March 16, 2010 7:05 Ava

7:07	[Comment From GuestGuest: ]  Do you see USD/CAD bottoming or it will keep falling down? ...Thank you Tuesday March 16, 2010 7:07 Guest

7:07

Valeria Bednarik:  As comment above, I don't see any bottom there yet I'm following oil prices, and the barrel remains well supported above $ 80.00. What has been a roof ends of 2009, has turned into a floor. as long as oil remains strong, Cad will also be. watch for an approach to parity in the next couple of weeks. Tuesday March 16, 2010 7:07 Valeria Bednarik

7:07	FXstreet.com:  Okay friends, time has come. Last minutes, last questions. feel free to send them. Tuesday March 16, 2010 7:07 FXstreet.com

7:08	[Comment From vikvik: ]  if eur/jpy is going up, expect gbp/jpy to be up too? what about all the other yen pairs, i see they tend to move in tandem Tuesday March 16, 2010 7:08 vik

7:09	Valeria Bednarik:  as comment above regarding yen.. I was expecting some stronger appreciation for this time of the year. Now, BOJ has limited that chances making comments about intervention. If they are ready to act or not, will be discovered tonigh Tuesday March 16, 2010 7:09 Valeria Bednarik

7:09	[Comment From tttt: ]  do you think when we enter in times of rasing rates usd rates wiil exceed eur rates Tuesday March 16, 2010 7:09 tt

7:10	Valeria Bednarik:  not sure if exceed as Fed is quite under ECB right now, but that FED will raise first, ahve no doubts. Tuesday March 16, 2010 7:10 Valeria Bednarik

7:11	FXstreet.com:  Valeria, could you give your conclusion about the FOMC statement? how will the market trade since now until the BoJ rate decision at 02:45 GMT? Tuesday March 16, 2010 7:11 FXstreet.com

7:13

Valeria Bednarik:  FOMC has bring no new clues about rates or an improvement in their economic situation. That has been translated into poor reactions to the news. AS comment at the beginning, market tends to price in almost everything. only a shoking unexpcted movement could trigger strong rallies these days. Market will likley consolidate now, waiting for Asian opening and BOJ decision. Don't forget to protect your trades with stop losses! Tuesday March 16, 2010 7:13 Valeria Bednarik

7:14	Valeria Bednarik:  As usual, my pleasure to be here with you! see you soon with more live coverages!! Thanks! Tuesday March 16, 2010 7:14 Valeria Bednarik

7:15	FXstreet.com:  Thanks everybody for coming today's Fed live coverage, hope you won't miss the BoJ rate decision live coverage in a few hours at 02:45 GMT. Tuesday March 16, 2010 7:15 FXstreet.com

7:16	FXstreet.com:  Fed has decided to leave refi and discount rates unchanged "in extended period" by 9 votes against 1. Market has reacted as you have seen it at FXstreet.com, thanks for coming! Stay hungry, Stay bullish! Tuesday March 16, 2010 7:16 FXstreet.com

7:16	FXstreet.com:  See you later at Japanese time! Tuesday March 16, 2010 7:16 FXstreet.com

7:16	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Tuesday March 16, 2010 7:16 FXstreet.com

7:16

FXstreet.com:  Trading OTC Forex 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 invest in foreign exchange or futures 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 and futures trading, and seek advice from an independent financial advisor if you have any doubts. Tuesday March 16, 2010 7:16 FXstreet.com

7:19

 

 

BoJ Live Coverage

BoJ Interest Rates decision with Valeria Bednarik

(03/17/2010)

  

Close

2:44	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Wednesday March 17, 2010 2:44 FXstreet.com

2:44

FXstreet.com:  Trading OTC Forex 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 invest in foreign exchange or futures 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 and futures trading, and seek advice from an independent financial advisor if you have any doubts. Wednesday March 17, 2010 2:44 FXstreet.com

2:45	FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. The BoJ Interest rate decision Live Coverage is going to start shortly. We would like to thank you for being here with us today attending the BoJ live Coverage. Wednesday March 17, 2010 2:45 FXstreet.com

2:46

FXstreet.com:  I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Wednesday March 17, 2010 2:46 FXstreet.com

2:46

FXstreet.com:  The BOJ Monetary Policy Statement includes the interest rate decision and any other economic decisions taken by the bank like quantitative easing facilities along with comments about current economic conditions in the country that have led to such decisions. It also includes the projection of the bank's economic outlook, giving early clues about the next movements coming from the bank. The Bank of Japan, however, has left rates steady at 0.1% since early 2008, and no changes are expected in the mid-term. Wednesday March 17, 2010 2:46 FXstreet.com

2:46

Valeria Bednarik:  Hi everyone, and welcome to this live coverage. We are waiting for BOJ latest decision regarding economic policy. True that rates are expected unchange at 0.10%, market is expecting the Bank, to extend it's lending program, by around 5 trillion yen; that's exactly half of what they realse by the end of past year, when they extend the plan with 10 Trillion yens. BOJ intention is to keep the currency weak and avoid further appreciation against major rivals. At this point, just speculation about this posible plan, has been enough to keep the yen around past day's levels, consolidating against dollar around90,40 and 124.40 against euro. Wednesday March 17, 2010 2:46 Valeria Bednarik

2:48	Valeria Bednarik:  However, lack of comments regarding this facilies will likley support a rise in teh japanse currency, even in current risk appetite enviroment Wednesday March 17, 2010 2:48 Valeria Bednarik

2:48	FXstreet.com:  One of the purposes of this live coverage is to answer as many questions you may have about the topic or about the market. Please, send your questions to Valeria. Wednesday March 17, 2010 2:48 FXstreet.com

2:49	Valeria Bednarik:  While USD/JPY remains trapped in a short range, in between 90.00 and 90.60, technically indicators are not givin ant clue abour posible trend short term talking. Wednesday March 17, 2010 2:49 Valeria Bednarik

2:50	Valeria Bednarik:  pair needs to regain 90.80 area, above past week highs, to attempt to extend the upside, while key support for current range is located around 89.80 zone. Wednesday March 17, 2010 2:50 Valeria Bednarik

2:51

Valeria Bednarik:  regarding Eur/Jpy, pair has been capped under 125.20 in the several attempts to regain the upside after testing levels under 120,00 early March. In general, pair trend has been quite bearish thus current consolidative range close to that mentioned area, Wednesday March 17, 2010 2:51 Valeria Bednarik

2:53

Valeria Bednarik:  is suggesting a probable bottom forming. However, above that 125.20 zone, I would expect the pair to extend it's rally to next key strong midterm level, the 126.60 resistance zone. This level, that has been holding the downside for a few months before finally giving up by the ends of January, Wednesday March 17, 2010 2:53 Valeria Bednarik

2:53	Valeria Bednarik:  is also the neck of a triple roof formation in the weekly chart. So above it, chances turn to the upside in the cross. Wednesday March 17, 2010 2:53 Valeria Bednarik

2:55	Valeria Bednarik:  Gbp/Jpy also holds the bearish tone, as current upside movement is consider just corrective, as long as under 138.00/50. Pair is gaining some upside momentum favored by raise in high yieldings since ealry Europe past Monday. Wednesday March 17, 2010 2:55 Valeria Bednarik

2:56	[Comment From Arun KandyalArun Kandyal: ]  HI Val Good Morning YOur views on GBP and Euro todays pls Wednesday March 17, 2010 2:56 Arun Kandyal

2:58

Valeria Bednarik:  Hi Arun, and welcome. I do see both pair close or holding around midterm resistance areas we have been talking in this live coverages lately: 1.3800 for EUR/USD, and 1.5230 for GBP/USD. Both pairs had a slightly bullish perspective ahead, as need t develop some short term downside corrective movements due to overbough conditions in the hourly chart. Wednesday March 17, 2010 2:58 Valeria Bednarik

3:00	Valeria Bednarik:  Euro above mentione 1.3800, has next strong resistance are a around 1.3860, while only under 1.3720/30 could return to 1.3680 Wednesday March 17, 2010 3:00 Valeria Bednarik

3:00	[Comment From GuestGuest: ]  Hi Val, Why aren't they on time with there important news releases? Wednesday March 17, 2010 3:00 Guest

3:01	Valeria Bednarik:  really seems to be a normal use in Japan.. they never ever do this in a certain time. We are going to wait a couple of minutes more and see if in the midle we can figure iut what majors would do. Wednesday March 17, 2010 3:01 Valeria Bednarik

3:03

Valeria Bednarik:  In general, market is on hold not making big movemnts this Asian session. Probably one because japanese yen crosses will react with BOJ. The other consideration is that later in the European sression, BOE will release the minutes of their last meeting, two weeks ago. Wednesday March 17, 2010 3:03 Valeria Bednarik

3:03	Valeria Bednarik:  The number of votes will be carefully watched by investors Wednesday March 17, 2010 3:03 Valeria Bednarik

3:04	[Comment From martinmartin: ]  Valeria, how do you see EURGBP in a short term? Wednesday March 17, 2010 3:04 martin

3:06

Valeria Bednarik:  pair is moving inside a daily consolidative triangle, with the base arpund 0.9020 for today. This seems to be a continuation figure yet pair has lost past week upside momentum; if above .09100, chances are of a stronger upside continuation. However, I still see the pair slightly bullih as long as above mentioned 0.9020. Wednesday March 17, 2010 3:06 Valeria Bednarik

3:06	[Comment From GuestGuest: ]  What impact do you expect the BOE minutes to have? Wednesday March 17, 2010 3:06 Guest

3:07

Valeria Bednarik:  will depend on how many surprises it includes.. If the vote was not even, or some member voted against current policy should move strongly to the upside; if all agree to left current economic policy unchanged, pair should not react to wildly. Wednesday March 17, 2010 3:07 Valeria Bednarik

3:09	Valeria Bednarik:  ok.. till now, no news.. last month, news were published a bit earlier, but seems today we will have to wait a bit. let me check what's going on Wednesday March 17, 2010 3:09 Valeria Bednarik

3:10	Valeria Bednarik:  I can only see news regarding RBA advancing furhter rate hikes, nothing new across the markets, as australian dollar has remained the strongest currency across the board. Wednesday March 17, 2010 3:10 Valeria Bednarik

3:11	Valeria Bednarik:  Sorry, some delay around here in the conection. Wednesday March 17, 2010 3:11 Valeria Bednarik

3:11	[Comment From GuestGuest: ]  Yes, it's really sad for them to think it is ok to keep everyone in the market waiting like this Wednesday March 17, 2010 3:11 Guest

3:13	Valeria Bednarik:  Well, is quite normal at this point. Seems we have to work out how to wait for this particular authorities in the future Wednesday March 17, 2010 3:13 Valeria Bednarik

3:14	Valeria Bednarik:  Besides, this is also quite common for Asian session: a couple of days a month with no much activity. Wednesday March 17, 2010 3:14 Valeria Bednarik

3:14	[Comment From GuestGuest: ]  Regarding JPY interest decision, has delays or early announcements portend anything? Wednesday March 17, 2010 3:14 Guest

3:15	Valeria Bednarik:  Hardly. In fact, today I consider it a bit interesting due to chance of intervention Wednesday March 17, 2010 3:15 Valeria Bednarik

3:16	Valeria Bednarik:  they have been making comments about that poosibility, past week. Wednesday March 17, 2010 3:16 Valeria Bednarik

3:16	Valeria Bednarik:  However Bank of Japan authorities tend to talk more than act. Usually, just mention intervention probabilites without materializing them Wednesday March 17, 2010 3:16 Valeria Bednarik

3:17	Valeria Bednarik:  And that had worled for a time.. but not lately. That's why I expect some action. But well, I could be wrong. Wednesday March 17, 2010 3:17 Valeria Bednarik

3:18	[Comment From GuestGuest: ]  Yes, I know what you mean about the Asian session Val. I usually just scalp the market rang during times like this if there is no news Wednesday March 17, 2010 3:18 Guest

3:20

Valeria Bednarik:  Yes that's the general idea of trading this particular asian sessions. What I see is dollar falling strongly this week, yet yen unable to fall nor to rise. Seems that investors are waiting this statement to take a stronger decision regarding the currency. Wednesday March 17, 2010 3:20 Valeria Bednarik

3:20	[Comment From dineshdinesh: ]  if eur/usd cant reach 1.3800? Wednesday March 17, 2010 3:20 dinesh

3:21	Valeria Bednarik:  I do believe so yes, Dinesh. pair is consolidating quite close to the area. The hard thing will be to overcome and stay above that area, as it represents the 50% retracement of past 2009 March November rally. Wednesday March 17, 2010 3:21 Valeria Bednarik

3:22	[Comment From GuestGuest: ]  same rate, but with intervention at chosen levels. Wednesday March 17, 2010 3:22 Guest

3:22	Valeria Bednarik:  news did not come out yet, but yes that's what i was expecting today. Wednesday March 17, 2010 3:22 Valeria Bednarik

3:24

Valeria Bednarik:  Back to euro, and high yieldings in general, seems that risk appetite is back and holding still. Let's see if in the next 24 hours, rallies extend confirming a bearish rally for dollar. S&P past Tuesday, closed at it highest level since October 2008, supporting the general optimism Wednesday March 17, 2010 3:24 Valeria Bednarik

3:25	Valeria Bednarik:  Personally, I do believe that Euro however, could remain subdue, or delayed in its bullish rallies compared to other currencies, as long as debt crisis expands in the euro zone. Wednesday March 17, 2010 3:25 Valeria Bednarik

3:26	Valeria Bednarik:  Checking back news.. nothing yet Wednesday March 17, 2010 3:26 Valeria Bednarik

3:28	Valeria Bednarik:  ok at least I do believe MOJ governor is schedule to start his speech at 3:30 GMT, so in about 2 minutes we could have some clues- Wednesday March 17, 2010 3:28 Valeria Bednarik

3:29	[Comment From cheocheo: ]  Valeria, yesterday the pound drop suddenly to 1.4977 then shot up again. Do you think this can happed again? Wednesday March 17, 2010 3:29 cheo

3:30	Valeria Bednarik:  Interesting question! what i see in pound is that right now, is attemting to finally overcome the 1.5230 area, still with no technical confirmations above the level. Hsas been 10 pips up or down for the past hours. Wednesday March 17, 2010 3:30 Valeria Bednarik

3:31	Valeria Bednarik:  I wil be following the 1.5200/1,5180 area: if start falling and accelerates trough that level, I would yes, expect more downside pressure in the pair, to at least the 1.5060 zone. Wednesday March 17, 2010 3:31 Valeria Bednarik

3:32	Valeria Bednarik:  On contrary, if overcomes yesterday's high from current area, i'm expecting the pair to extend the upside and approach to 1.5330/50 zone, also quite strong. Wednesday March 17, 2010 3:32 Valeria Bednarik

3:33	Valeria Bednarik:  No volatility in market, quite poor session this one. Maybe BOJ will bring some, but at this point, seems unlikely Wednesday March 17, 2010 3:33 Valeria Bednarik

3:34	Valeria Bednarik:  Australian and Canadian dollars are quite interesting at this point, gaining ground agaisnt dollar. that suggest dollar weakness and is a matter of time for the rest to follow Wednesday March 17, 2010 3:34 Valeria Bednarik

3:34	[Comment From MitchMitch: ]  Do you expect usdcad to continue it's downward trend? Wednesday March 17, 2010 3:34 Mitch

3:36

Valeria Bednarik:  Yes Mich actually, if you take a look al oil you will find out how $ 80 per barrel has become a strong support, having been a strong resistance most of past 2009. Besides, BOC governor comment this week they are quite confortable with current Cad stength, so i see chances of an approach to parity very soon. Wednesday March 17, 2010 3:36 Valeria Bednarik

3:40	FXstreet.com:  The BoJ decision is delaying more than expected today. We run out of time, Valeria any final advice depending if the rates stay on hold or not? Wednesday March 17, 2010 3:40 FXstreet.com

3:40	Valeria Bednarik:  sorry my friends, I really have to leave. Seems we lost the chance of seing some live action trough here. Anyway! I will be back anytime with more live coverages and educative sessions to share with all of you. Wednesday March 17, 2010 3:40 Valeria Bednarik

3:41	Valeria Bednarik:  Pay attention to commodity currencies, they are leading the way, and never forget to protect your trades with the respective stop loss! Wednesday March 17, 2010 3:41 Valeria Bednarik

3:41	[Comment From MitchMitch: ]  Thank you Wednesday March 17, 2010 3:41 Mitch

3:42	FXstreet.com:  Thanks Valeria. For all the readers, keep paying attention to FXstreet.com's homepage and calendar, we will publish the Rates Decision there as soon as it will be published. Wednesday March 17, 2010 3:42 FXstreet.com

3:43	FXstreet.com:  Thanks for your time and see you in next Live Coverage! Wednesday March 17, 2010 3:43 FXstreet.com

3:43

 

 

How To Trade Forex - Trading Gurus Reveal Their Secrets - Part 1

Experts:

• Markus Heitkoetter, CEO of Rockwell Trading and author of the international bestseller "The Complete Guide to Day Trading"
• Valeria Bednarik, Chief Analyst at FXstreet.com
• Kim Cramer Larsson, CEO of Financial Trend Analysis

Summary:

Are you already making money trading Forex, or are you looking for better ways to trade?

What about your trading strategy: Does it perform as you expected or would you like to have a strategy that really works? Do you want to know how others "made it?"

You can see here Part 2

Live Trading and Analysis

Expert: Sam Seiden, Stocks and Commodities Instructor, Author and Mentor at Online Trading Academy
Moderator: Maud Gilson, Conference Manager

Summary:

We will spend this session identifying trading opportunities in the Forex market.

Volatility in Q1; What Does Q2 Hold in Store? - Special Webinar 10th Anniversary

Expert: Rob Booker, Founder and Host at TraderRadio.net
Moderator: Maud Gilson, Conference Manager

Summary:
Join Rob Booker for a special webinar as he discusses and analyzes the Major currency pairs at the close of Q1 and explores possible developments as we move into Q2.
 
Don’t miss this chance to hear Rob share his thoughts on the volatility of the market in recent weeks and expound on geo-political events that could affect your trading in the near future.

Asian Session: Live Market Analysis

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. Sivaraman will review the previous day close levels and calls given in his blog and present expected trading ranges in 4 majors and 2 commodity pairs.

Weekly Markets Opening Live Coverage

Weekly Markets Opening Live Coverage with Valeria Benarik

(03/14/2010)

  

Close

10:56

FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Sunday March 14, 2010 10:56 FXstreet.com

10:56

FXstreet.com:  Trading OTC Forex 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 invest in foreign exchange or futures 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 and futures trading, and seek advice from an independent financial advisor if you have any doubts. Sunday March 14, 2010 10:56 FXstreet.com

10:56

FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. Be very welcome to the second Asian trading hours live coverage. From now on every Sunday night from 23,00 GMT to 00,00 GMT will be the time to take a look to the market status and to prepare yourself for the week's opening. We would like to thank you for being here with us today attending the first event of a series of markets Live coverages we will be offering you on a weekly basis. Sunday March 14, 2010 10:56 FXstreet.com

10:56

FXstreet.com:  I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Sunday March 14, 2010 10:56 FXstreet.com

10:57

FXstreet.com:  Hello Valeria and welcome back! What do you expect for the comming week? Sunday March 14, 2010 10:57 FXstreet.com

10:57

Valeria Bednarik:  Hi everyone, and welcome to this live event! As usual, my pleasure to be here with you. Week ended with dollar weak, reaching a 1 month low against Euro, and earyl intebank trading show pair remains close to such levels. Sunday March 14, 2010 10:57 Valeria Bednarik

10:58

[Comment From Lokesh GoyalLokesh Goyal: ]  Good Morning Sunday March 14, 2010 10:58 Lokesh Goyal

10:58

Valeria Bednarik:  Hi Lokesh and welcome. Sunday March 14, 2010 10:58 Valeria Bednarik

10:59

Valeria Bednarik:  Has you may all know, this week we have FOMC decision regarding economic policy, and market attention will be again focusing there. Sunday March 14, 2010 10:59 Valeria Bednarik

10:59

[Comment From growgrow: ]  good evening val Sunday March 14, 2010 10:59 grow

10:59

[Comment From ozguregeozgurege: ]  good morning Sunday March 14, 2010 10:59 ozgurege

10:59

Valeria Bednarik:  Hi all, and welcome Sunday March 14, 2010 10:59 Valeria Bednarik

10:59

[Comment From SaryuSaryu: ]  What do expect EurUSD this week from technical point of view? Sunday March 14, 2010 10:59 Saryu

11:00

Valeria Bednarik:  Hi Sayru. pair is very close, for what for me, seems to be a strong and key resistance area, the 1.3800 zone, where we can find the 50% retracement of past 2009 March/November rally. Sunday March 14, 2010 11:00 Valeria Bednarik

11:01

Valeria Bednarik:  if the pair manages to open a daily candle above that area, and pullbacks remain capped by the level, I would expect further upside pressure in the pair. Sunday March 14, 2010 11:01 Valeria Bednarik

11:02

Valeria Bednarik:  To the upside, and above 1.3800, 1.3885 is first strong resistance area, ahead of 1.4000/20 and above and finally the 38.2% of the same rally, around 1.4110 Sunday March 14, 2010 11:02 Valeria Bednarik

11:03

Valeria Bednarik:  technically pair favors the upside, yet fundamentally, i would expect the Euro to remain capped by debt issues in euro zone south countries, as Greece, Spain, Portugal.. Sunday March 14, 2010 11:03 Valeria Bednarik

11:04

Valeria Bednarik:  on contrary, if the pair does not manages to break above the 1.3800, supports for this week will be at 1.3710, 1.3640 1.3580 and 1.3530 Sunday March 14, 2010 11:04 Valeria Bednarik

11:04

[Comment From Lokesh GoyalLokesh Goyal: ]  If we look weekly chart than 4th wave of elliot is forming? Sunday March 14, 2010 11:04 Lokesh Goyal

11:04

Valeria Bednarik:  Seems likely yes also. Should reach no much further up than the mentioned 1.4000/20 zone, if you count Elliot Sunday March 14, 2010 11:04 Valeria Bednarik

11:04

[Comment From SaryuSaryu: ]  Thanks Valeria, does this mean EURUSD pair will no go back to 3600 in this week? some of the fundamental events are not favoring USD? Sunday March 14, 2010 11:04 Saryu

11:06

Valeria Bednarik:  I do believe that fundamentals are not favoring any of both economies at this point, thus I believe the eurozone exit of crisis will be much more harded, just because they are an economic union and not a country. Sunday March 14, 2010 11:06 Valeria Bednarik

11:06

[Comment From ozguregeozgurege: ]  i need your forecast about gbpusd Sunday March 14, 2010 11:06 ozgurege

11:07

Valeria Bednarik:  Pound remains uder 1.5200/30 resistance area. really has been quite tough this past week; pair needs to clearly regain the resistance area around 1.5350 to change general bearish tone, pair still has Sunday March 14, 2010 11:07 Valeria Bednarik

11:09

Valeria Bednarik:  Weekly and daily charts show indicators bottoming, supporting some upside rally ahead. Above 1.5230, resistances come at mentioned 1.5350, 1.5420 and 1.5540 area for these next days. If the pair don't ,manage to accelerate above this 1.5200 area, I would wait to see a break under 1.5060 support to confirm pair resume downtrend mid term talking Sunday March 14, 2010 11:09 Valeria Bednarik

11:11

Valeria Bednarik:  Euro is one of the weaker currencies across the board, while AUD and CAD are the strongest.. that's why EUR/CAD and EUR/AUD are both on multi years lows at this point. I will try to see if euro manages to accelerate to the upside as comment above the 1.3800 zone, to confirm a more interesting reversal in both crosses. However, and despite extremelly oversold, I don't see clear signs of reversal norin weekly nor in daily charts. Sunday March 14, 2010 11:11 Valeria Bednarik

11:12

Valeria Bednarik:  EUR/CAD needs to break abobe 1.4110 to confirm a more interesting bullish rally, that could reach mids 1.45 this week. On contrary, as long as under that level, upside movements should be consider corrective, and if 1.3980 gives up, I would expect the pair to restes 1.3880 zone Sunday March 14, 2010 11:12 Valeria Bednarik

11:12

[Comment From michealmicheal: ]  What do expect EURCAD this week from technical point of view? Sunday March 14, 2010 11:12 micheal

11:13

[Comment From Lokesh GoyalLokesh Goyal: ]  Tell us more about Fomc meeting..... Sunday March 14, 2010 11:13 Lokesh Goyal

11:14

Valeria Bednarik:  Well I actually don't expect them to change the general tone of the speech. Market attention, will be watching if they jeep on with rates "extremelly low for an extended period" thats something that could favor dollar loses as Dollar strength cames from speculation FED will hike rates sooner than later. I really don't expect a movement this firt half of 2010 Sunday March 14, 2010 11:14 Valeria Bednarik

11:15

Valeria Bednarik:  Also, I don't expect ECB to made a movement before FED.. If you are going to go against dollar, choose any other currency, but euro. Sunday March 14, 2010 11:15 Valeria Bednarik

11:15

[Comment From Lokesh GoyalLokesh Goyal: ]  Valeria plz tell about USDCAD this week Sunday March 14, 2010 11:15 Lokesh Goyal

11:17

Valeria Bednarik:  As I have been commenting in the Daily Wrap _Up Webinar, pair has been quite strongly bearish, and remains the same as long as under 1.0250. I believe that under 1.0150 pair has high chances of reach parity, as the CAD is also attached to oil prices; barrel has been quite comfortable above $ 80, with no signs of giving up that zone. Above 1.0250 next midterm resistance area comes at 1.0360 zone. Sunday March 14, 2010 11:17 Valeria Bednarik

11:17

[Comment From redred: ]  good evening valeria.where do you see eur/gbp and what do you think of uk figures in less than 1 hour? Sunday March 14, 2010 11:17 red

11:19

Valeria Bednarik:  UK figures are Housing figures, will likely hit the Pound. negative reading should send the pair under 1.5150 ahead of 1.5100 and 1.5060 area next 24 hours, while as comment above only above 1.5230 pair could gain some upside momentum. Regarding EUR/GBP, as long as above 0.90000/20 zone, pair is still bullish for me, thus seems we have a double top in the daily, with the nexk around 0.8975- Sunday March 14, 2010 11:19 Valeria Bednarik

11:20

Valeria Bednarik:  so if pair remains above that level, chances are of an upside continuation with 0.9150 as key resistance level to watch. Break above likley signal and acceleration in current trend. Sunday March 14, 2010 11:20 Valeria Bednarik

11:20

[Comment From Lokesh GoyalLokesh Goyal: ]  ok thanks Sunday March 14, 2010 11:20 Lokesh Goyal

11:20

[Comment From daviddavid: ]  what is the trade of the week?many thanks Sunday March 14, 2010 11:20 david

11:22

Valeria Bednarik:  David, not sure what you mean! I'm a short term trader, and I usually made a report for trade for each session. However, I will be watching USD/JPY and EUR/JPY pairs. Likely to rise strongly if dollar starts losing ground. Sunday March 14, 2010 11:22 Valeria Bednarik

11:22

[Comment From TarunTarun: ]  hi valeria, what is your view on usd/yen and eur/yen ? Sunday March 14, 2010 11:22 Tarun

11:24

Valeria Bednarik:  well Tarum, you read my mind! Ahead of BOJ, also this week, and with rumors coming about further QE there, both pairs had gain upside strength, that could accelerate strongly this week. If however, unable to rise, then both should resume midterm trend. EUR/JPY levels to watch are: Sunday March 14, 2010 11:24 Valeria Bednarik

11:26

Valeria Bednarik:  125.50 and 126.00 and 126.60 short term. If back above 126.60, pair turned into bullish for me. Supports come at 124.00, 122.80 and strong one around 121.70 Sunday March 14, 2010 11:26 Valeria Bednarik

11:27

Valeria Bednarik:  USD/JPY as long as aboe 90.00, has a slightly bullish perspective ahead, thus I would expect the pair to remain ranging with no much definitions ahead.. Pair has a daily descendant trend line around 91.30.. if above, seems we have some chances to see the pair gaining further, close to the 93.00 level. Sunday March 14, 2010 11:27 Valeria Bednarik

11:27

[Comment From rezrez: ]  can i have your guess over uk housing bullish or bearish? Sunday March 14, 2010 11:27 rez

11:28

Valeria Bednarik:  GUESS! just guess.. I'm not a fortune teller.. slightly positive... Sunday March 14, 2010 11:28 Valeria Bednarik

11:28

[Comment From NanetteNanette: ]  Are we now seeing a weaker US dollar for the balance of the year? Sunday March 14, 2010 11:28 Nanette

11:30

Valeria Bednarik:  not sure if we can confirm, from a technical point of view, a weaker dollar... just compared with euro, we are still inside the 300 pips range, pair has been trapped since mid February. Pound remains quite close to yearly lows, and capped to the upisde.. we need to have a bit more patient to see a confirmation.. resistance levels are not that far away in fact Sunday March 14, 2010 11:30 Valeria Bednarik

11:31

Valeria Bednarik:  And besides, weakness is general in countries except maybe canada and Australia Sunday March 14, 2010 11:31 Valeria Bednarik

11:31

[Comment From markmark: ]  good morning.if uk housing goes positive where do you see eur/gbp and gbp/usd? Sunday March 14, 2010 11:31 mark

11:32

Valeria Bednarik:  eur/gpb not much reaction, resistances are at 0.9080 and 0.9110. Regarding pound, 1.5200 and maybe 1.5230 Sunday March 14, 2010 11:32 Valeria Bednarik

11:33

[Comment From ozguregeozgurege: ]  can we tradegbpusd short under 1.5230 Sunday March 14, 2010 11:33 ozgurege

11:33

Valeria Bednarik:  well, as long as the level caps the upside, I don't expect it to be overcome easily. Sunday March 14, 2010 11:33 Valeria Bednarik

11:33

[Comment From HERIHERI: ]  I have long position on gbp/usd at 1.5044 should I cover now or we can see 1.5475?? this week Sunday March 14, 2010 11:33 HERI

11:35

Valeria Bednarik:  As comment above, follow pair if handles to break above 1.5200/30. If accelerates and holds above, i see good chances of a quick rise to 1.5350 zone or so.. on contrary, under 1.5150, pair likley to extend the fall. Sunday March 14, 2010 11:35 Valeria Bednarik

11:35

FXstreet.com:  We are short of time for today, Valeria, let's wrap up this markets opening coverage. Any advice for the week? Sunday March 14, 2010 11:35 FXstreet.com

11:36

Valeria Bednarik:  Pay attention to both FOMC and BOJ, as are the major events of the week, and as both are related to rates, willlikley define trends ahead of the end of the month. Sunday March 14, 2010 11:36 Valeria Bednarik

11:36

Valeria Bednarik:  Tks all for being here! see you again this week with some live coverages. Bye! Sunday March 14, 2010 11:36 Valeria Bednarik

11:36

FXstreet.com:  Thank you very much for this. I hope you all will have a good trading week. thanks for your parcipation! Sunday March 14, 2010 11:36 FXstreet.com

11:36

 

 

Taking full advantage of precise trading zones - U.S. Session

Expert: Rajoo C, CEO at Precise Trader
Moderator: Maud Gilson, Conference Manager

Summary:

• Identifying Entry, Exit & Stop Loss Levels
• How to choose the best cross to trade out of 36 currency crosses
• Q&A
• Precise Trader’s viable trades

Taking full advantage of precise trading zones - Asian Session

Expert: Rajoo C, CEO at Precise Trader
Moderator: Maud Gilson, Conference Manager

Summary:

Topics:

• How to choose the best cross to trade out of 36 currency crosses
• Q&A
• Identifying Entry, Exit & Stop Loss Levels
• Precise Trader’s viable trades