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Market is a bit slow at the moment.

Not much happening at the moment. No major moves yesterday apart from Cable shooting up after Mervyn King said that QE may not now happen. For those of you that do not know what QE stands for, it stands for Quantitative easing, which is basically printing money. When Governments print money it devalues their currency. So if no devaluation is planned and the market expects QE, then the currency rallies.

My 4 pairs are in a slow up trend so i will be looking for long entries. No clear set ups at the moment so i am happy to wait. There is an announcement regarding the Yen a bit later on so that may have an effect on the currency market, so need to be aware of that. Should see a trading opportunity this afternoon i would think, so i will post the trade on the blog if i take one. I generally get at least one good trade per day depending on how busy i am so lets hope one comes along soon. Have a great trading day everyone. 🙂

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