Forex Trading with Vance (not a video today)

June 1, 2016 in Fundamental Outlook, High Impact Data, Price Logic Analysis, Today's Analysis by Vance Williams

Hi Team. Interestingly, Brexit has now gained traction. This adds to the positive USD sentiment when looking at the GBP/USD pair. Keep your eye on the most important issues. 1. Stability 2. Brexit. 3. Conclusions about numbers in the US vs. UK or Eurozone. 4. Developments around these three 5. Unusual events (such as Non Farm or yesterday’s “end of month.” In the stability story, the EU is in the top third of its weekly range. So in terms of price, maintaining that balance between the USD And Euro is not currently an issue. This is the first trading day in 4 that the USD has corrected vs. the Euro.  The moves down by the GU this morning were questionable. The first move was into a range bottom. What followed was choppy.  But at the arrow,  I show how you could see an advantage and a way to manage the risk, followed by a 19 PIP move.

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BIO
Vance Williams was a currency trader and trainer for 12 years. In March of 2014 he retired from currency trading, but wrote a book “Forex Legacy” that captures his 11 years of experience teaching you how to master the market and master yourself. This book is free and can be downloaded at www.forexartofwar.com – no registration of any kind is required. He continues to donate his time Tue, Wed and Thur to help traders during this live session and a community of forums.