EUR/USD fell lower on a Sunday gap and could never retake the previous levels. Will the attempts to talk down the euro succeed? PMIS and a speech from ECB president Mario Draghi are the key events. Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD.
Draghi made his mark once again: he …Continue
Added by Yohay Elam on April 20, 2014 at 6:42am — No Comments
The amount of pips you make per trade, week or month is meaningless. Likewise, the percentage you make per trade, week or month is also meaningless.
That may sound harsh, so let me clarify...
You should know by now that your success as a trader is measured heavily by the risk to reward ratio you use, right? So to say you made 100 pips on a trade only tells half the story. What if your stop loss was 400 pips? Or worse, what if you didn't use a…Continue
Added by Justin Bennett on April 19, 2014 at 5:18pm — No Comments
USDCHF: Recovers Higher, Threatens Price Extension
USDCHF: The pair closed higher the past week after halting its one-week weakness. This has opened the door for further upside possibly towards the 0.8924 level in the new week with a cut through here will aim at the 0.8952 level. This level if broken will aim at the 0.9000 level with a close above here eyeing the 0.9050 level and next the 0.9100 level. On the downside, support lies at the 0.8742 level where a break will turn focus to…Continue
Added by fxtech on April 19, 2014 at 4:28pm — No Comments
Added by Saud Shah on April 19, 2014 at 3:00pm — No Comments
What ProAct Forex Target Traders See: We are currently sitting @ 1.3813. We were unable to even get the gap closed so we are looking for a continued move DOWN to the 1.3723 area and a breakout would target the 1.3665. We may still have one higher move to fill the gap. The average daily true range (ATR) for the pair currently is now down to only 64 pips.…Continue
Added by Scott Barkley on April 19, 2014 at 1:59pm — No Comments
AUDUSD pulled back last week from recent highs. If the pair is to continue higher, I would expect immediate support in the .93 area. A price action buy signal such as a pin bar from this level would create an interesting setup. As always, we'll have to remain patient and watch how the market unfolds.
I posted about the AUDNZD a week ago, and mentioned that we would probably see price retest recent highs at 1.09. We got that retest last week. For now, the AUDNZD…Continue
Added by Justin Bennett on April 19, 2014 at 1:56pm — No Comments
GOLD: Threatens Further Downside
GOLD: With GOLD continuing to maintain its downside bias, further decline continues to be envisaged. But corrective recovery risk may occur. Support lies at the 1,289.36 level where a break will pave the way for a run at the 1,277.58 level. A turn below here will shift focus to the 1,250.00 level followed by the 1,230.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance is seen at the 1,318.30 level…Continue
Added by fxtech on April 18, 2014 at 4:51pm — No Comments
Currently we are at 1.4219 in a channel. We are looking for a bullish continuation to the Wave 1 R5 @ 1.4851 and maybe Wave 3 R4 @ 1.4869. The average daily true range (ATR) for the pair currently is 83 pips.…Continue
Added by Scott Barkley on April 18, 2014 at 12:37pm — No Comments
Libya’s central bank has dismissed as baseless recent rumours that the country is facing dollar shortages due to a loss of oil revenues, a bank official said yesterday.
The North African country has been struggling for nine months with disruptions in its key oil industry due to protests at oilfield and ports across the desert nation. The central bank has said it has dollar reserves worth more than $115bn.
Musbah Al Akari, head of the central bank’s markets department,…
Mostly banks are closed in observance of 'GOOD FRIDAY'. in currency market, low volatility is experienced. We will start trade again on Monday......
Added by Usman Ali on April 18, 2014 at 5:29am — No Comments
DAILY ACCURATE KEY LEVES BY SPIDERMAN
EURUSD 1.3814 ,
Added by Spider-man on April 18, 2014 at 1:31am — No Comments
The GBP/USD exploded higher yesterday following the bullish pin bar that we discussed in our market commentary on Tuesday. Today we get a counter-trend bearish pin bar from key resistance so now would probably be a good time to consider taking profit or moving stop-losses to break-even to avoid being caught out by a sell-off. This signal, though, is by no means a sell signal as the trend is still well and truly to the upside.…Continue
Added by Lewis Barber on April 17, 2014 at 9:21pm — No Comments
Factory production in the mid-Atlantic region expanded in April at the fastest pace in seven months, but across the Delaware River in the New York Fed growth slowed to its lowest level since last November.
The Philadelphia Fed Business outlook Index came in at 16.6 well above the 10.0 forecast and almost doubling March's 9.0 reading. The Philadelphia Federal Reserve region comprises the eastern two thirds of Pennsylvania, Delaware and Southern New Jersey.
In New York the story…Continue
Added by Joseph Trevisani on April 17, 2014 at 7:35pm — No Comments
Added by gregorian on April 17, 2014 at 6:57pm — No Comments
GBPUSD: GBP remains bullish strengthening further on Wednesday and targeting further upside. Though seen strengthening during early trading today, it requires a break and hold above the 1.6819/22 level to create scope for more gains. The pair needs to decisively break and hold above here to trigger further bullish offensive towards the 1.6877 level. Further out, resistance resides at the 1.6900 level where a break will aim at the 16950 level and then its big psycho level at the…Continue
Added by fxtech on April 17, 2014 at 12:25pm — No Comments
"Technically, USDCAD looks to us like it “wants” to trade higher but is lacking incentives at the moment. Short-term trend momentum is positive, keeping USDCAD pinned up against short-term resistance in the 1.1020 area. A break above 1.1020 should see spot rally to 1.1070 or so fairly easily (the 40-day MA comes in at 1.1065). A high close for USDCAD…Continue
Added by Daologic on April 17, 2014 at 11:30am — No Comments