EUR/USD managed to stage a gradual recovery reconquering the 1.3830 line. Less than impressing inflation figures from the euro-zone capped further significant advances. A wide range of FOMC speakers, including Yellen, as well as US housing data will set the tone later in the day.
Here is a quick update on the technical situation, indicators, and market sentiment that moves…Continue
Added by Yohay Elam on April 16, 2014 at 9:57am — No Comments
Yesterday some commodities fell sharply, and gold was no expectation. We have seen a very powerful bearish move away from 1330 that has unfolded in five legs so we think that this market will go even lower, but after a three wave bounce. We see nice resistance zone for wave c at 1310-1315.
GOLD 1h Elliott Wave Analysis…
Added by Gregor Horvat on April 16, 2014 at 9:44am — No Comments
Recommendations: SHORT positions below 1.3862 with 1.3810 & 1.3780 as next targets.
Alternative scenario: The upside breakout of 1.3862 will call for a rebound to 1.3900/30.
Description: Intraday outlook in EURUSD remains on the downside as long as resistance 1.3862 holds on hourly basis, support comes at the 1.3807 levels , a break would open 1.3780 next, further downside will aim the 1.3740 levels. On the upside , a…Continue
Added by Haitham653 on April 16, 2014 at 7:34am — No Comments
Day Trading Recommendations for Majors as on 16-04-2014
EUR/USD:Buy:1.3805, TP1.3845, SL1.3775,Sell stop 1.3768
GBP/USD: Sell Below 1.6750 ,TP1.6690,SL1.6770 , BUY STOP 1.6775
GOLD: Sell1308,TP1292,SL1312, BOB1315
Important News:GBP: Claimant Count Change, Unemployment Rate @01:30pm, USD: Building Permits
Added by Usman Ali on April 16, 2014 at 7:32am — No Comments
Forex reports delivered every morning by 6am. Subscribe now…Continue
Added by Jason Sen on April 16, 2014 at 6:02am — No Comments
Full text is here
LONG EUR above 1.3800 SL 1.3785 TP 1.3850-1.3880-1.3905
SHORT EUR below 1.3840 SL 1.3855 TP 1.3790-1.3765-1.3730 (use this if upside through 1.3850-60 fails) wait for mrs.Yellen's speech today
SHORT GOLD below 1304 SL 1308 TP 1290-1285-1278-1270
LONG GOLD above 1310 SL 1306 TP 1317-1321-1328
"(...)US housing sluggish to resume gains and is a factor keeping the USD from a stronger performance.
The NAHB US Housing market index, one of the most current/forward looking housing indicators was softer than projected and remained below the neutral 50 line for a third month in April. The housing market appears to have lost momentum since around mid-2013. Prices are still up significantly from lows, but activity growth appears…Continue
Added by Daologic on April 16, 2014 at 4:02am — No Comments
GBPJPY put in a daily pin bar off the bottom of a wedge that's been forming since last year. The pair also managed a pin bar on the 4 hour chart, which I posted earlier. If the pair can maintain this wedge formation we may see price test the upper boundary around 172,50. Immediate resistance may also be found at 171.50, which marks the opening gap on Dec. 26th 2013.
See More: …Continue
Added by Justin Bennett on April 15, 2014 at 11:18pm — No Comments
This pair dropped a large bullish pin bar today from the key support level down at 1.6660. We may get a dip back to intra-day support near 1.6700 before this market pushes higher again - it may well retest key resistance up at 1.6820 over the rest of this week if it can pick up some momentum.…Continue
Added by Lewis Barber on April 15, 2014 at 10:15pm — No Comments
AUDUSD: With AUDUSD remaining weak and vulnerable in a corrective mode after losing steam at the 0.9460 level the past week, further downside pressure is envisaged. Support lies at the 0.9334 level where a break will aim at the 0.9303/7 levels. A reversal of roles as support is likely to occur. Further down, support comes in at the 0.9250 level followed by the 0.9200 level where a break will turn focus to the 0.9166 level. Resistance resides at the 0.9460 level where a break will aim at the…Continue
Added by fxtech on April 15, 2014 at 3:53pm — No Comments
USDCAD: Building a Base
Open 1.0995 Range 1.0960/1.1001c Prev. Close 1.0962…Continue
Added by Daologic on April 15, 2014 at 12:12pm — No Comments
Added by Daologic on April 15, 2014 at 12:07pm — No Comments
Added by Francesc Riverola on April 15, 2014 at 12:01pm — No Comments
Today 15th April I have presented during Early European session,"tracking the forex market together" live webinar ( part I ) and explained how the forecast,market reading and simple trading strategy of, limit the risk when the position is makes loss with hedging and when the position makes profit use trailing stop to protect the profit.
I have also taken live trading decision and taken positions to show the result during part II of the webinar.
The link for the…Continue
Added by Dr. Sivaraman on April 15, 2014 at 11:53am — No Comments
Nice price action setup forming on the GBPJPY 4 hour chart. The pair has been forming a wedge on the daily chart since October 2013.
We'll see how the day closes, but the 4 hour chart is looking quite bullish after forming the pin bar off of the wedge bottom (second chart below).
GBPJPY pin bar on the 4 hour chart...
See Chart: Price Action Setup -…Continue
Added by Justin Bennett on April 15, 2014 at 11:51am — No Comments
In North America today the market will get a look at the CPI and Empire data, but the highlight of the session may be the speech by Janet Yellen. who is scheduled to speak at the Atlanta Fed's annual Stone Mountain conference. If Ms. Yellen continues to downplay the prospect of interest rate hikes in 2015, the greenback may see further weakness with EUR/USD possibly rebounding to 1.3850 while cable could recapture 1,6750.
The USD index is bouncing along the bottom of a long term downtrend and since disinflation has also been evident in the US, the soft tone of the currency no doubt has been quietly welcomed by the US authorities. A stronger USD, however, would provide strong relief for other central banks. Yesterday’s solid US retail sales data has helped support the greenback, but a whole round of better US data is likely…Continue
Added by Daologic on April 15, 2014 at 9:53am — No Comments
USDCAD has turned impulsive to the downside from 1.1278, clearly in five waves for wave (a) that is now showing signs of completion around 1.0858 after recent bounce through the upper channel resistance line. RSI has also turned up from the oversold conditions and suggests a recovery for the pair that will ideally be a three wave move back in wave (b), towards 1.100-1.0160 zone. More upside to come in this week. USDCAD 4h Elliott Wave Analysis…Continue
Added by Gregor Horvat on April 15, 2014 at 9:40am — No Comments
Hello ladies and gents, I'm not a big Cable trader but I like what the markets got for us for the next few weeks, and I think the next few weeks are going to be disappointing for the UK, but lets delve into some Fundamental Analysis on the Cable (GBPUSD).
The United Kingdom:
I really like Carney, he did a decent job in Canada while he was here, but he's notorious for strengthening currencies... wouldn't you agree? The big measurement tool…Continue
Added by Dayton Marks on April 15, 2014 at 8:45am — No Comments
EUR/USD continues sliding, following the gap lower in the wake of the new week. The comments from Draghi tying the exchange rate to monetary policy still echo and markets are still digesting the US retail sales number. Was it good enough? There is no rest for markets, as the German ZEW figure is coming soon, as well as a speech from Fed Chair Janet Yellen.
Here is a quick update on the technical…Continue
Added by Yohay Elam on April 15, 2014 at 8:21am — No Comments