This video will give you a good preview of how the forex market is a scam, and is controlled by a computer program and doesn’t really go up and down via buying and selling, but rather goes up and down via a computer program, which is designed to take your money. Don’t trade the forex market….

Risk aversion was the order du jour in financial markets during the New York session. The yen crosses saw their biggest drop since the so-called flash crash two weeks ago today. The EUR/JPY currency pair dropped nearly 300 pips in just one hour to an 8-1/2 year low, then staged a 200-pip recovery before the London close

Good economic news from Europe was hard to come by today. Negative core CPI in Spain (first time ever), pressure on European bank stocks, rumors of French President Sarkozy having threatened to pull his country out of the euro, and reports of strikes by Spanish labor unions, all weighed on the euro. The EUR/USD currency pair reached an 18-month low during today’s New York session.

After sliding nearly 120 pips during today’s London session, the EUR/USD currency pair spent much of the New York session clawing back half of that drop. That euro recovery set up a 40-pip short trade, which came together during the hour before the London close.