I have been following this pair and trying to decide where i think its going next. The monthly and weekly show a uptrend from 2011. Also the long term tf chart shows plenty of playing room from the early 2000 to mid 2005 in the 81 to 92 price area. I understand thatthe world economics were very different back then, but here we are in that same space years later. …Continue
Added by Nickt on March 9, 2014 at 11:30am — No Comments
The average of 6 major spot currency pairs against the USD.
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An important aspect of successful trading is the concept of creating boundaries and rules to help present the market to yourself. There is no exact correct way to do this but I will share my general view of this using a current EY chart to demonstrate.
First off , define a trend, theres many ways to do this,…Continue
Added by talisman on March 9, 2014 at 12:55am — No Comments
The daily time frame of the AUD vs JPY has closed on Friday creating a gravestone doji at the resistance level between 94.090 and 94.457. This candlestick is a representation of supply and demand being equal as price opened and closed near the low of the day. What is significant is how high price moved up but the bears overpowered the bulls and pushed the price nearly 90 pips down from the upper resistance zone…Continue
USDCHF: With USDCHF giving back its earlier gains for the week to close lower marginally lower the past week, more decline is likely in the week. This is with a lot of caution. Support comes in at the 0.8700 level, its psycho level. Below here will set the stage for further weakness towards the 0.8650 level. Further down, support is located at the 0.8600 level and then the 0.8568 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, resistance…
Added by fxtech on March 8, 2014 at 1:07pm — No Comments
Posted Early-I am traveling
What ProAct Forex Target Traders See: We are currently sitting @ 1.3867 looking to finish a 3rd wave to the top. A couple of different scenarios: 1: a bounce on the former pennant line and a move to the 1. 270 Fibo @ 1.4004 area) 2: An a-b-c correction to the trend line @ 1.3780 area would set up a nice wave to the same target . The average daily true range (ATR) for the pair currently is 72 pips.
Added by Scott Barkley on March 8, 2014 at 1:00pm — No Comments
I just finished looking at some daily charts and this is what I see:
AUDCAD - tried to penetrate MR1 at 1.0058 and did, but got rejected. The last attempt to break that level was in Oct 2013 and did not succeed either. Is this pair headed down?
AUDCHF - This pair is already in a downtrend and I am attaching this chart. Note the symmetry in price action between 17 Dec and 07 Mar (today). …Continue
Added by Oasis on March 8, 2014 at 3:28am — No Comments
In this brief post I share today’s daily review for the GBP/USD, AUD/USD, USD/CAD & NDZ/USD major forex pairs. In the video I review the daily and 4-hour sequences and provide explanation of market action and price dynamics, plus actual setups for tomorrow.
Below the video analysis for the aforementioned markets:…Continue
Added by FibStalker on March 7, 2014 at 4:05pm — No Comments
USDJPY 5 Min
Price spike up with the NFP and came down in three waves: Low 1 High 1 Low 2 High 2 Low 3. Price then hit the 20MA (Green lines) and a measured move equal to the height of the channel it had just broken out of (bold…Continue
Added by Constantine on March 7, 2014 at 4:00pm — No Comments
In this brief post I share today’s daily review for the USD/JPY, EUR/JPY & GBP/JPY major forex pairs. In the video I review the daily and 4-hour sequences and provide explanation of market action and price dynamics, plus actual setups.
Below the video analysis aforementioned markets:
Notice that price…Continue
Added by FibStalker on March 7, 2014 at 3:30pm — No Comments
In this brief post I share today’s daily review for the EUR/USD forex pair, the S&P500 emini, the Dollar Index futures and the Gold mini futures. In the video I review the daily and 4-hour sequences and provide explanation of market action and price dynamics, plus actual setups.
Below the video analysis for the above aforementioned markets:…Continue
Added by FibStalker on March 7, 2014 at 3:25pm — No Comments
I have sold NZD/USD @8453 few minutes ago after it was rejected at the top of the horizontal channel. The channel is formed in an eight (8) hour chart. Price was in ranging mode with massive accumulation process (just…Continue
Currently we are at 1.6369 attempting the break north of the wedge. We are looking for a bullish continuation to the resistance area @ 1.6420-28. The average daily true range (ATR) for the pair currently is 141 pips.…Continue
Added by Scott Barkley on March 7, 2014 at 1:54pm — No Comments
" EURUSD rallied in the wake of the ECB policy meeting yesterday which left expectations of some sort of policy action in tatters; no rate cut, not SMP suspension and no strong indication from…Continue
Added by Daologic on March 7, 2014 at 1:10pm — No Comments
For more than one month, I build a strong case for shorting the euro, bringing many fundamentals to support my idea, as also some technical patterns who were suggesting that it “might work”. I, as many other traders, were waiting for Mr Draghi to pull the trigger during his press conference, yesterday. However, something really strange happened yesterday morning, six hours before the ECB press conference: the euro-bund dropped from 144.67 till 142.45. How is it possible to sell so…Continue
Added by Arenoosh on March 7, 2014 at 12:23pm — No Comments
EURJPY 5 Min:
Price was on its first retracement after a spike up. It fell in three waves: Low 1 High 1 Low 2 High 2 Low 3. Entry was 1 pip above the signal candle.
There were 4 hard signs for the trade:
High 3 long signal after a spike which is usually a…Continue
Added by Constantine on March 7, 2014 at 11:21am — No Comments
ANZ - "· Declining resistance (off 2008’s 1.6040 high), which capped EUR/USD at 1.3885-90 in December, is being breached (1.3820-25 this week).
· A weekly close above 1.3825 (confirmed above 1.3895) should trigger a range flip to 1.4150 if not a broader measured target of 1.4420.
· Despite breaking declining resistance, broad patterns since 2008 are considered corrective with strong resistance likely at 1.4420-50.
· A close below 1.3820 would reduce near term upside…Continue
Added by Francesc Riverola on March 7, 2014 at 10:54am — No Comments
US Non Farm Payrolls data impact on markets - Scenario Analysis