EU GBP Gold and Oil Forecast 21 May 2013





EUR/USD



Buy AT:1.2893

Stop Loss:1.2857



Tp1:1.2898

Tp2:1.2909

Tp3:1.2932

Follow Till:1.2984



Sell AT:1.2857

Stop Loss:1.2893



Tp1:1.2852

Tp2:1.2841

Tp3:1.2818

Follow Till:1.2766



GBP/USD



Buy AT:1.5262

Stop Loss:1.5220



Tp1:1.5267

Tp2:1.5276

Tp3:1.5301

Follow Till:1.5358





Buy AT:1.5262

Stop…

Good afternoon forex,

Nice to see all seven currencies meet or exceed my expectations today as per my trading plan. Support and resistance lines tracked according to my specs and volatility was equally matched. After reviewing today's price action here's my technical blueprint.

USDCAD: Closed at 1.0239. Resistance now at or near 1.0295. Minor support at or near 1.0218 followed by stronger support at or near 1.0150. BIAS: Mildly bearish. Catalysts: CAD…

Recommendations: SHORT positions below 1.2901 with 1.2795 & 1.2700 as next targets.

Alternative scenario:The upside breakout of 1.2901 will call for a rebound to 1.2945/1.3030.

Description: The pair's already found resistance at 1.2901 level, as long as this level holds, look for further losses towards 1.2795/1.2700 levels, an hourly close above 1.2901 will call for a…

This is my scenario:

UBS - "The dollar remains our favoured currency for 2013. The US economy is likely to expand more than its peers. The Federal Reserve is set to exit uncoventional monetary policy before other major central banks. Dollar diversification by central bank reserve managers and sovereign wealth funds is subdued, and America's shale energy revolution is cutting its current account deficit. Our bullish view on the greenback has become more consensus now. But if the dollar does embark on a multi-year…

Brown Brothers Harriman - "Euro: A large head and shoulders pattern is being carved out. The neckline is seen near the late March and early April lows around $1.2740. Below there is the low from last November near $1.2660, which is just below the $1.2680 retracement objective ($1.2680) of Draghi's OMT induced rally. The measuring objective of the head and shoulders pattern would carry the single currency below $1.20, our year-end target. The euro's 50-day moving average has…

The EUR vs USD is facing major uphill resistance at key levels. Currently the market is sitting right below the Weekly Pivot @ 1.28885. This level will be a level of resistance in the short term future in order to see more upside. The R-1 level sits @ 1.29795 which is near the psychological S&R level of 1.30000. This level has been a key S&R level in the past for this pair. The current short term…

Marc Faber likes gold and is buying more.

Not gold ETFs, but real, live gold.

When asked why he wouldn’t keep any of his gold holding in America if it’s supposed to be one of the safest countries in the world for assets,

Dr. Faber answered, “Safe country? I’m not so sure about that…”

Click on the picture for the interview.…

Currently we are at 1.2852.  We have had  a small retracement at the S5 so are looking for the continuation to the Day chart bottom @ 1.2738 and then the 1.618 support  @ 1.2710. We are bearish.    The current average daily trading range (ATR) is 109 pips.…

The AUDCAD has bounced off of a major support level and should rally or retrace to at least 1.0241.

A good entry would be above 1.0070 for this setup.

Happy Trading!

SuccessWorks…

Dear All

My forecast for this week I have explained during today's (20th May)  " Asian session :Live market analysis" webinar time.

The recording of the webinar is available in the given below link:

http://www.fxstreet.com/webinars/sessions/session.aspx?id=b635222b-c726-4044-8e4e-7f014a65037f

You may view the video…

Bank of America Merrill Lynch - "We expect the Euro outlook in the next few months to be determined by ECB policies and market expectations for their direction compared with FED policies. In turn, we believe that the impact of ECB policies on the Euro will be determined by the balance between monetary policy loosening to address weakness in the core

Eurozone economies and deflation risks on the one hand, and policies to address the continued credit crunch in the periphery on the other.…

GBP/USD Daily

The pair has broken below its uptrend channel and keeps below both its moving averages in a short-term…

Royal Bank of Scotland - "On the road seeing clients is always most enlightening, always the best way to take the market pulse. But the road can be a tricky place from which to develop detailed strategy ideas – too much distance from day-to-day detail.

So just a few bullets on broader, thematic, directional, conviction: In three words, keep buying Dollars.

(...) Yen is still your number (1) funding currency as Japanese foreign bond buying begins in semi earnest and on the critical…

EUR/USD Weekly…

I found this nice article...talking about me!!! :)

What an honor ;)

Francesc

Forex Thought Leaders: Francesc Riverola, Founder and President FXstreet.com

by Paul Milnes

Francesc Riverola is one of the foremost thought leaders in the world of forex trading, being founder and President,…

Morning All

Today is a Monday made worst by the many Bank Holidays in Europe and also I believe in Canada

Mondays are normally slow ( not always though - as the market like to catch traders out when it can ;-0 ) - and so we expect movements at the London Open - but since then it's hardly been a morning…

EUR/USD has started  the week quietly, as the pair trades in the 1.2870 range in Monday’s European session. We can expect thin trading on Monday, as the French and German markets are closed for a holiday. The US wrapped up last week on a positive note, as UoM Consumer Sentiment climbed to a six-month high. Today’s sole release is from the US, as FOMC member Charles Evans delivers a speech in…

eur/usd   sell  2886    sell 2799

spy  buy  1676   sell  1661

apple  buy  437    sell  428

EURUSD once broke lower on Friday and hit 1.2800 level that we were focusing on already a week back. Now we can count five waves down in wave 3 from 1.3195 peak which means that bottom could be near. Notice that price also tested 200% extension level of wave 1 measured from wave 2 high which could also react as a support in wave 3. With that in mind, EURUSD could make a corrective bounce this week in wave 4, back to 1.2935 before new sell-off occurs. If 1.2800 is out then watch out for the…