Awaiting News Flow – Forex Trading Strategy

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Originally updated: 08:00

Trading Bias: Neutral

Currency pair: None

Current Sentiment: Neutral

In today’s trading session I will be awaiting news flow to provide opportunities to get into the market as there is no clear sentiment.

Fundamentals:

The overnight session was relatively subdued as the calendar and newswires were light on market moving news. However, the USD index pulled away from its 3-week lows after yesterdays large sell-off, causing major USD pairs to trade lower, with EUR/USD briefly falling back below 1.0800 as today’s Eurogroup meeting comes into focus.

The market is heavily focused on ALL US data at the moment so pay close attention to any US data being released as this will simply give us a reason to buy or sell the USD. Today we have the Eurozone finance minister meeting , where Greece remain optimistic about reaching a deal soon. This could have a big impact on the Euro across the board so it’s worth keeping an eye on any comments from the meeting.

If a deal is reached we could see a relief rally on the Euro across the board and it’s something we could potentially make some pips from. So keep an eye on the news feeds for any comments from the meetings. However if the prospect of a Grexit starts to look more promising we could see some heavy selling pressure on the Euro across the board, so keep an eye out.

Technicals:

At this stage of the session, with limited news flow to present a reason to get into the markets, I will be waiting for pairs to approach key levels of support/resistance and trade the overall trend in line with the fundamentals. This will of course be in conjunction with any news flow we have that provides the market with fresh sentiment and a reason to start getting involved in the market.

Other Market Moving News:

Looking ahead, today’s economic calendar is light with German IFO business climate coming up at 9:00am and US Core durable goods coming at 1:30pm, but main focus will be on the Eurogroup meeting.

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About the Author
Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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