EURUSD reached new highs in this week around 1.3415 from where we have seen a sharp fall yesterday , clearly in impulsive fashion. As we know, impulses show direction of a trend or change in trend, so we think that EURUSD has reached a temporary top and that pair is headed lower, minimum in three waves even if decline will be corrective. We will be tracking A-B-C legs to the downside. Pair could hit 1.3150 in the next few trading days. …
Added by Gregor Horvat on June 20, 2013 at 9:19am — No Comments
On the first picture below we see a perfect triangle breakout on the upside. This is a strong and reliable reversal pattern.
Because the TS/KS cross is below the cloud it means the signal is rather weak and this is why I…Continue
Added by Daologic on June 20, 2013 at 8:30am — No Comments
Back to the "coalface" today
The chart above is the EU and vertical line is at 7am UK time - European Open
Today I sold just after 7.09am UK time at 3266 and then left part stake on after I had to pop out at the London Open
Normally there would have been 3 scalps…Continue
Added by Carol Harmer on June 20, 2013 at 6:53am — No Comments
I like to keep my analysis simple.
If the current weekly candlestick will close below 1.3177, which is the low of previous weekly candlestick, we will have an engulfing candlestick which is a bearish reversal pattern. Usualy SL is at the high of the candlestick. TP is at least 1.2746.
Order management: you can close half of order when you get a 1 to 1 risk/reward ratio and let the other half go for 1.2746 and even more or you can use multiple orders with multiple targets.…
eur/usd sell 3341 sell 3170
gbp/usd sell 5567 sell 5298
aud/usd sell 9416 sell 9071
usd/jpy buy 9844 buy 9587
dow 30 sell 15227 buy 14996
Come join our daily trading room on Skype Skype name: jonsproule
Added by Jon Sproule on June 20, 2013 at 6:30am — No Comments
A Daily white body has formed (because prices closed higher than they opened).
For the past 10 Daily candlestick bars as of 20/06/2013, there are 7 white candles versus 3 black candles with a net of 4 white candles.
For the past 50 Daily candlestick bars as of 20/06/2013, there are 23 white candles versus 27 black candles with a net of 4 black candles.
A Daily spinning top has formed (a spinning top is a candle with a…Continue
Added by Martin Kay on June 20, 2013 at 6:29am — No Comments
A Daily black body has formed (because prices closed lower than they opened).
For the past 10 Daily candlestick bars as of 20/06/2013, there are 5 white candles versus 4 black candles with a net of 1 white candles.
For the past 50 Daily candlestick bars as of 20/06/2013, there are 27 white candles versus 22 black candles with a net of 5 white candles.
A Daily doji star has formed (where a doji gaps above or below the…Continue
Added by Martin Kay on June 20, 2013 at 6:27am — No Comments
I was never confused or double minded about US economic growth and my views got endorsed from FED. This is big news that FED Chairman Ben Bernanke is confident about the US economic recovery announcing FED’s decision to revise its unemployment rate to 6.5 pct by end of 2014 instead of 2015. So FED deciding to go on hold with a Bullish view on economy makes lot of sense, as it has clearly given time to the market to adjust/settle/decide accordingly. The…Continue
Added by asad rizvi on June 20, 2013 at 6:00am — No Comments
In the interpretation of FED, everything is better in the economy. After two days of FOMC meeting, the consensus is that there is greater optimism about the US economy. The unemployment could fall to 6,5% by 2014 on FED’s forecast. Bernanke said yesterday it would keep rates close to zero as long as the jobless rate above 6.5%, now it is over 7,6%. And the FED sees lower inflation too, and some development in the economy.
So it keep further the asset purchases to $80 billion-per…Continue
Added by BlindFoldedMonkey on June 20, 2013 at 5:36am — No Comments
The EURUSD maintained a bearish momentum yesterday topped at 1.3415 and bottomed at 1.3261, now pressure will be on the key support 1.3261, the EURUSD will have to hold below the 1.3261 levels on a daily closing basis to push the market for further downside losses, If seen it will target the 1.3176 levels where a breach will turn focus on the 1.3060 levels.
Alternatively, a failure to hold below the 1.3261 levels could mean a return to the 1.3415 levels, break of 1.3415 will…Continue
Eur correction move is a fact now, as yesterday the big players' nerves weren't strong enough to test SMA200 @ 1.3450, and the EUR suffered a massive profit taking minutes before the FOMC loosing almost over 70 pips in 5 minutes. Finally EUR has reached all my short targets, and is currently trading around the last yesterday's target @ 1.3250. It is quite possible for today to test the 1.3170 support and then followed by the 1.3140. By the end of the week we may drop below 1.3100 too…Continue
Added by Vladimir Mihaylov on June 20, 2013 at 4:30am — No Comments
As the markets wait for the most anticipated Federal Reserve meetings since the financial crisis, volatility and ranges have dwindled to little more than a price quote.
Euro has traded in a 28 point range, 1.3385-1.3413, since yesterday's value date change at 5:00 pm New York time. Dollar/Yen has managed 83 points, 94.84-95.67, but for the past nine hours it has been restricted to 40 points and for most of the time, to barely 10 points. Sterling, Dollar/Swiss, Dollar/Canada and Aussie…
Added by Joseph Trevisani on June 19, 2013 at 5:40pm — No Comments
Currently we are at 1.3402 in a rising wedge which is bearish for the pair. A couple of different scenarios. 1: a move to the lower chart trend line and bounce creating a head and shoulders top 2: A break down here to the 0.618 Fibo @1.3187. The average daily true range (ATR) for the pair currently is 110 pips.
Added by Scott Barkley on June 19, 2013 at 12:59pm — No Comments
I'm really sad to see the degree of feuding going on on this site. There are many learned and brilliant minds here, each offers a very different insight and perspective of the market.
Disagreements of trading strategy or call for the market direction are inevitable, as we all have our own trading styles. I prefer my trading strategies have good math foundation, and evaluate/verify them with plenty back testing.
I'm not following all the posts every day, so I'm not sure how…Continue
Added by Jason Sen on June 19, 2013 at 8:06am — No Comments