Euro, yen and pound in focus as London FX opens
https://youtu.be/LN4yZczBt0s
In this morning's forex session David and I started with a look at the EUR/CAD, a pair I highlighted a few days ago on my site, and one which was an interesting confluence of the fundamental, the technical and the relational and something we cover in great detail in the Quantum Trading forex education program.
We then moved to consider some of the strong moves overnight for both the euro and the Japanese yen and the start of the European session was noteable for the congestion phases building around the volume point of control on the faster charts. It is as these points that markets are in price agreement, with the VPOC itself acting as the fulcrum of the market with no bias. The analogy here is of a see-saw, with both sides of equal weight. Once bearish or bullish sentiment develops, this then moves the price action away from the volume point of control and driven by volume as the...