Euro Trading Recap EUR/USD = +35 pips in Total for 2/13/2013

Euro Trading today was fun... we began with chop then ended up paying us in pips. The EUR/USD popped up to that all important area on our charts 1.3522 area. This is not only the 23 FIB, but also measures up to some important fibs that we have been using in class to day trade forex. The EUR/USD had a nice pop late in EURO session followed by a drop when news came from the ECB that the market took as bearish.  With a push that began on Monday from political rhetoric from Biden on the EUR/USD we have seen a nice little retracement since then. At this point I am cautious and our of our nice day trade for the day. In  New York session the  reversal came later in the session about 10:30am EST. I made a note in the trading room that we have been seeing these times now as a "Sneak Attack" often by big banks on an unexpected push. The stock market sure did not cause the push as we were at very low volume once again with little movement.

To end this Euro trading recap I will just say ...at the moment the critical levels I am watching have been outlined clearly in our trading room. Let's see if we get some more pips on this pair tomorrow. Ok, I am done, my neck hurts from being in front of this monitor!

Regards,

BT