Money in Motion Forex Trade of the Week : Forex Trading Software

Money in Motion Forex Trade of the Week

March 20th, 2011

Author: admin

	Money in Motion Forex Trade of the Week Watch Jeremy Wagner, head of DailyFX Education, place this week's trade on the FXCM Trading Station II platform from this week's show. Then trade for yourself on a free FXCM practice trading account. Full details: www.fxcm.com Script Hello everyone, my name is Jeremy Wagner and I'm the head of DailyFX Education here at FXCM. Today I'm going to talk about a trade that Todd Gordon of the Aspen Trading Group discussed on CNBC's show Fast Money. Todd currently has his eye on the euro kiwi. Now, I really like Todd's thinking with this one, and I want to show you why. But before we get started, I encourage you to register for a free practice trading account. That way you can log in and follow along with me as I go over the trade. If you want, you'll even be able to place this trade in your practice account to really see how it plays out. Now, Todd has approached this trade from a fundamental and technical perspective. On the fundamental side, due to inflation concerns and other factors, the ECB is likely to raise interest rates in the near term. The RBNZ on the other hand is having to cut rates due to the recent earthquake. This suggests support for the euro and a lack of support for the New Zealand dollar. On the technical side of the ledger, he's recognized that the market has recently broken above a resistance level of 1.86 , which was holding strong on a weekly chart for about a year. Switching over to a daily chart, he points out that the last major pullback was around 700 <b>…</b>	From:ForexCapitalMarkets Views: 51 5 ratings
	Time:04:44	More inNews & Politics