That pretty much sums up the moves today on all currency pairs. After great gains of longing entries on EURUSD and GBPUSD at the beginning of the week that was covered in the previous blog post, today completely rejected any bullish opportunity that tried to eek its way out from the pairs and resumed the downtrend. Many critical support/resistance levels were assassinated and by the looks of things, there's not much in the way of stopping the mkts from running another couple hundred pips or so to our next targets.
Today's webcast, hosted by one of our mentors @TraderCJ, covered the next key targets to trade to on EURUSD, GBPUSD, and USDCHF that, if the downtrend continues, will likely be hit in the very near future. Tomorrow's non-farm payroll will be exciting to watch and @TraderCisco has some great commentary on the latest podcast. Be sure to click that listen button and have a great Friday of trading or napping...whichever suits you best on NFP!
~FXM
