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…

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…

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…

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.

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…

EURUSD reached new high yesterday so we assume that wave 4 is already complete and that wave 5 is underway which has room for further gains, towards 1.3500 in sessions ahead. Meanwhile 1.3318 support must hold, otherwise we would assume that top is in place. From a larger perspective we need to keep in mind that wave 4 was a triangle and that triangle always occur prior to the final move of the larger pattern, which means that current leg up will sooner or later complete a bullish…

UBS - "EURUSD BULLISH The pair posted a new high and is approaching the resistance at 1.3520 ahead of 1.3711. Support is at 1.3319.

USDJPY BEARISH The weakness since mid-May is approaching the significant support at 93.57. A closing break below this would be further negative opening 90.43. Resistance is at 96.10.

GBPUSD BULLISH As the bull trend persists any downside will be limited with a strong support at 1.5468. Broader focus is on the strong resistance at 1.5789; a closing…

Societé Generale - "As we head into midyear, the year-to-date change in EUR/USD has shifted back into positive territory. We see this move driven by two forces essentially: short covering, through a broad and deep position cleaning in early June; an upward repricing of forward EUR short-term rates, after Draghi in early June poured cold water on hopes of deposit rate cuts. This makes me think of January, when fears of evaporating liquidity cause a broad repricing of the Euribor strip,…

USD pairs are still pending a clear direction.  Early indication from Tuesday intraday trading indicates continued weakness but there are strong Support/resistance levels ahead. Next couple of days will be critical to determine a clear direction



USD/CAD has been ranged bounded few days. Overall sentiment about USDCAD remain Bearish. Currently USDCAD is completing it corrective move so look out of sharp Short…

eur/usd   buy  3439    buy    3342

gbp/usd  buy  5715    buy  5558

aud/usd   buy  9525    sell  9428

usd/jpy   buy  9581   buy  9470

dow 30   buy  15402   buy  15233

Come join our daily trading workshop on Skype    Skype  name:   jonsproule

please look at today swing trading plans.

Instrument Trend Recommendation 19-6-2013

EUR/USD Sell below 1.3395TP1.3350/25,SL1.3420 BOB 1.3430

GBP/USD Sell below1.5645,TP1.5610/5580 ,SL1.5660 ,BOB1.5675

GOLD Buy above 1364,TP1370/75,SL1359,BOS1355

USD/JPY Buy above 95.15TP95.70/96,SL94.80 BOS 94.75

Important news; FOMC Statement at 11pm