Daily Analysis – 09/27/2011

By September 27, 2011Analysis

Chart of the Day

 

EUR/USD

The EUR/USD came up to resistance after a difficult past week and created a bearish pin bar on the H4 chart. This is a signal that Forex Market Master mentors traders to find and use to their advantage.

 

EUR/USD H4 Chart Analysis

 

USD/CAD

Though I haven’t been following the loonie too closely as of late, it did throw off a False Break Out (FBO) signal on the daily chart with some decent follow through including the subsequent candle showing a lower high and lower low. This is another signal that Forex Market Master mentors traders to find and use to their advantage.

 

USD/CAD Daily Chart Analysis

 

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For more information and further in-depth analysis of additional currency pairs, check out the exclusive ‘Members’ community that’s included with the FOREX Market Master Risk Analysis and Price Action Trading Course and lifetime membership.

 

Currency Commentary

The euro may fall toward this year’s low vs. the dollar shuld it drop below key levels, Gaitame.com Research Institute Ltd., said, citing trading patterns according to Bloomberg.com.

 

The Swiss franc dropped against the dollar and the yen as Swiss consumer demand dropped to the lowest level in almost two years in August. Signs suggest the Swiss economy may be cooling.

 

 

Equity & other Markets

Stocks in the U.S. held their gains after a late session sell off as Germany vowed to continue support for the country. U.S. consumer confidence stagnated near a two year low.

 

On The Calendar

09/28 – Thursday (EST)

8:30AM – USD Core Durable Goods m/m

5:00PM – USD Fed Chairman Bernanke speaks

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