We had a crazy week last week in the market due to some serious fundamental shifts in the market. The AUD/USD took a serious nose dive through the 1.0150 market which was a low in a range from 1.0150 to 1.0600 on the AUD/USD for the past year (see the video below). First, RBA (Royal Bank of Australia) announced a rate cut of 25BP on their overnight interested rates. THEN, the US FED starts talking about an $85 Billion “bond buying program” to stimulate the economy. Both where bad news for the AUD/USD which dropped to parity (1.000) and is most likely going to continue dropping right to the .9800 range.
In this video I go through which caution on trading the USD cross pairs over the next few days until the market determines if the FED announcement created a short-term emotion strengthening of the USD….OR…if this could be a significant game changer where the market turns into a more “risk off” environment and starts investing into USD again.
Watch the video completely as I analyze the charts and look for some great opportunities to trade.
In this first video of many entitled Forex Trading for Dummies we are going to dig into the basics of trading with the trend, trading off of key levels and trading from the daily charts. Enjoy the video.
I am going to keep this post short and sweet, because the video pretty much says it all. But the #1 reason why Forex traders fail is due to a poor, or actually, NO trading plan. So, in this video I am going to get detailed into how and why to create your own Forex trading plan and then under the video there are some documents you can download in order to create a simple trading plan. This video is just one module in my Complete FX Trading Course which you can get…for FREE here,
Watch the video, create your trading plan If you have any questions leave a comment below the video and I will respond back.