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Daily Forex Trading Commentary - Thursday 17th April 2014

GBP/USD - Explodes Higher From Bullish Pin Bar

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.…

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Added by Lewis Barber on April 17, 2014 at 9:21pm — No Comments

Which Way for the US Economy: Philadelphia Fed Rises, New York Falls

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…

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Added by Joseph Trevisani on April 17, 2014 at 7:35pm — No Comments

opened 1 position and few pending orders

Added by gregorian on April 17, 2014 at 6:57pm — No Comments

Easy Money

Added by Easy Money on April 17, 2014 at 2:50pm — 2 Comments

GBPUSD: Tests The 1.6819/22 level, Eyes Further Upside

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…

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Added by fxtech on April 17, 2014 at 12:25pm — No Comments

TD: Morning FX Outlook-USDCAD

"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…

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Added by Daologic on April 17, 2014 at 11:30am — No Comments

EUR/USD April 17 – Euro Firm After Yellen Comments

EUR/USD has moved higher on Thursday, as the euro continues to take advantage of dovish comments by Fed chair Janet Yellen on Wednesday. The pair is trading in the mid-1.3860 in the European session. Today’s sole Eurozone release, German PPI, declined last month, as Eurozone inflation indicators remain weak. In the US, we’ll get a look at Unemployment Claims and the Philly Fed Manufacturing Index later in the…

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Added by Yohay Elam on April 17, 2014 at 10:43am — No Comments

RBS:Short-term cyclical vs long-term structural

"(...) Short-term cyclical vs long-term structural:

The markets' fixation with the UK's positive short-term data flow risks overlooking the still substantial structural imbalances in the UK economy: a bloated current account deficit (averaging 3.1% of GDP over the past four years despite subdued domestic demand), among the worst fiscal metrics in the developed world (a structural budget deficit of 4.5% this year – only Japan's is…

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Added by Daologic on April 17, 2014 at 9:28am — No Comments

USDJPY Elliott Wave Analysis: Bearish Price Action In View

USDJPY has turned nicely down at the start of the year from 105.50. A decline can be counted in five waves, so we think that this is first leg of minimum three waves bearish structure. Therefore we are looking for more weakness now as corrective rally from 100.70 appears completed after recent fall to the lower side of a trading channel. Break-down is in view it seems, so traders should be aware of move through 100.72 and possibly to 99.00 area.

USDJPY Daily Elliott Wave…

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Added by Gregor Horvat on April 17, 2014 at 8:21am — No Comments

Gold, AUDUSD, EURUSD, GBPUSD & USDJPY outlook for today.

USDJPY hit our target of 102.35/40 & topped exactly here as predicted. The pair have sunk back to support at 102.00/95 but below here look for a buying opportunity at 101.40/30. Just bear in mind with the daily chart oversold, we have lots more support with March lows at 101.25/20 & 10 month trend line support at 101.10.

Above 102.05 is more positive again & targets 102.17/19 then a retest of resistance at 102.35/40. Again a high for the day is possible but be ready to go…

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Added by Jason Sen on April 17, 2014 at 7:40am — No Comments

Daily Technical Ananlysis and Trading Recomendations as on 17-4-2014

GBPUSD:



Sterling has broken the high of 16th February, 2014 and near to test 1.6880, the high of 15th November 2009. Strong bullish sentiments are founded near the 1.6795. GBP become strong 23% against US dollar.

Technically this pair is in a bullish trend but a little dip is expected due to the divergence in h4 graph. So buy this pair on a little dip. The SMA100 and 200 are indicating a strong bullish trend in h1 as well as in h4 graph. Ichimoku cloud is also…

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Added by Usman Ali on April 17, 2014 at 7:39am — 1 Comment

Gold Daily Forecast 17 APR 2014

Added by Naveed Anjum on April 17, 2014 at 6:28am — 1 Comment

WAVETRENDZ ANALYSIS

SELL EUR USD AT 1.3840   STOP LOSS 1.3855 TAKE PROFIT 1.3800

WAVETRENDZ ANALYSIS 

Added by A PRASAD REDDY on April 17, 2014 at 6:04am — No Comments

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Added by TTRosin on April 17, 2014 at 5:38am — No Comments

EUR-USD

Pivot: 1.381

Our preference: Long positions above 1.381 with targets @ 1.3865 & 1.388 in extension.

Alternative scenario: Below 1.381 look for further downside with 1.379 & 1.377 as targets.

Comment: The pair is rebounding and is breaking above its resistance.

Supports and resistances:1.39 1.388 1.3865 1.3838 Last1.381 1.379…

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Added by TTRosin on April 17, 2014 at 5:32am — No Comments

Euros Trading Sideways With More Emphasis On the Downside

Added by Carol Harmer on April 17, 2014 at 5:15am — No Comments

FOREX forecast 17.04.2014

Full forecast is here

For today:

LONG EUR above 1.3820 SL 1.3805 TP 1.3850-1.3880-1.3905

SHORT EUR below 1.3905 SL 1.3920 TP 1.3855-1.3825-1.3800

LONG GOLD above 1308 SL 1304 TP 1317-1322-1328

SHORT GOLD below 1304 SL 1308 TP 1294-1286-1278-1270

Good luck!

Added by Vladimir Mihaylov on April 17, 2014 at 5:01am — 3 Comments

GBP/USD DAILY as of Thursday, 17 April, 2014

*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar

Sell Target: 1.6801  

Sell Stop:    1.6864

Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.

(NOTE: Adjust Stop Loss Price according to your trading risk.)

Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…

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Added by Martin Kay on April 17, 2014 at 4:45am — No Comments

EURUSD 5 Min: This is an example where you cannot write off the day until the very end as the two best trades happened in the last hour of 10 hours at the screen. Price spiked up in the morning then…

EURUSD 5 Min:

This is an example where you cannot write off the day until the very end as the two best trades happened in the last hour of 10 hours at the screen.

Price spiked up in the morning then peaked at a…

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Added by Constantine on April 17, 2014 at 12:54am — No Comments

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