Forex Trading - Forex Update: Watching the News for Intraday Direction on US Pairs

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To Get Ross' Free Forex Update Analysis - Click Here: Yesterday, if you were watching from the live Trade Room, we were looking for opportunities to go short here on the EURUSD. Forex trading online usa. Let’s go ahead and just take it on down to the four-hour timeframe. If you remember from yesterday’s Trade Room or yesterday’s notifications for the live members, we were looking at sells somewhere right around the 1.1160-level at the bottom of the pink-shaded area. It did push all the way up to 1.1180, giving us a little bit of an uneasy pause, but then it turned right back around and came back down. The trade manager took us to break even. Then it came back up and took us out at break even.So, currently not in it, but I think this pink zone is your zone to watch today. Positive news, we’ll look for that to continue to hold as resistance and for this to go lower, challenging the green-shaded area as your next support. And anything underneath the green zone, we’ll look for the continuation lower. Now, if it’s negative news for the US coming up, we’ll look for the breakout likely above 1.1180 and another challenge up to the yellow zone at the top of the chart into the 1.1200s again.So, pink zone is going to be pretty critical as resistance today. On positive news, goes down. On negative news, breaks that resistance and continues to pressure higher for the EURUSD today.GBPUSD. We’ve been trading this one for the past couple of days. In profit still, trading it from the 1.3085-level. I’m sitting 124 pips of profit right now on the sells that we took the other day from the yellow zone. The next thing we’re looking for, and let’s zoom it in a couple of times. Yesterday, during the live Trade Room, we pointed out this little green-shaded area down here, where the market is currently finding support. Let me try to get that where we can see that the best. There it is.You see that little green-shaded area holding as support. Not too hard to see that right now. That is an area that we’re going to watch today. Positive news out of the US continues the free fall and we look for it to continue to pressure lower. If we get some negative news for the US today, a bounce off of here, sending it back to the purple zone may give us another opportunity to go short here for this currency pair. So, if you’re looking to go short, look at the purple zone or a break under the green zone, which is 1.2935 or so, under that green zone, back down into 1.2900, the orange-shaded area at the bottom of the chart. That’s on positive news.Negative news, a bounce back to the purple zone not out of the question. If it breaks back above that purple-shaded area, we could be looking for further retracement for the GBPUSD. So, watching that news, but clearly the market is bearish. We’re protecting profit on the ways down for the GBPUSD. Disclaimer:This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.. Forex Trading - Forex Update: Watching the News for Intraday Direction on US Pairs

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