The Euro looks like it may be trying to carve out a Head Shoulder top, but really needs to stay under 1.3100 to remain valid. 1.3090 is 23.6% of 1.2623/1.3234 and currently acts as short term resistance.If it works, 1.2925 would be the target, so not a bad risk reward!…Continue
During most of January silver and the Euro rallied from their slump of past months. These two indexes tended to have a strong relation in recent months, but has the relation between the two tighten? Could we explain the rally of silver during January with the appreciation of the Euro?
Added by Lior Cohen on January 31, 2012 at 9:08pm — No Comments
Been away since Friday..
Looking quickly on 4 and 8 hrs and it seems 3030-40 is imp supp and if holds we should get close enuf to 3300 b4 possibly shorts coming back kicking and firing all cylinders..
Added by Tahir Khan on January 31, 2012 at 6:22pm — No Comments
Currently we are @ 1.5772 just below the -0.270 Fibo. A sideways move or small pullback is possible here . Looking for the bullish move to the R6 @ 1.5860. A failure to break the -0.270 Fibo here would signal a move to the double top @ 1.5740. We are remain bullish for now.…Continue
Added by Scott Barkley on January 31, 2012 at 2:36pm — No Comments
Added by Francesc Riverola on January 31, 2012 at 11:42am — No Comments
During January, gold demonstrated its strongest performance in a single month since August 2011; for silver it was since July 2011. Gold price is currently 10.76% above its price from the end of 2011; silver has added 21.05% to its value. What were the driving forces for this rally in gold and silver during January? Part of it might have to do with the recent pledge of the…Continue
Added by Lior Cohen on January 31, 2012 at 10:17am — No Comments
Euro dollar continues it’s near perfect channel trading and moves higher. The EU Summit failed to produce any news regarding the burning issues of Greece and weak figures from Germany and France. The Greek PSI deal is forever “close” as Portugal continues signs of following the Hellenic Republic. End-of-month moves also make the market more choppy. Will the pair fall when the month…Continue
Added by Yohay Elam on January 31, 2012 at 10:02am — No Comments
EUR/USD Daily Outlook 31 JAN 2012
The EURO declined yesterday as mentioned in the weekly report, and tested the area around 1.3080, but it pulled back again and attacked 1.3200 level last night..
As said yesterday,…Continue
Gold and silver started off the week slightly falling along with other commodities. The Euro and AUD also traded down against the US dollar. There are still concerns regarding the Greek debt and the recent EU Summit, which was held yesterday, didn't seem to ease these concerns. Today, the EU unemployment rate will come out; other publications that might affect the market include: U.S consumer confidence report; Canada's GDP and China's Manufacturing PMI. …Continue
Added by Lior Cohen on January 31, 2012 at 9:58am — No Comments
Euro try to break 1.3240 top was unsuccessful, pair moved down below 1.3100 upward channel support and reached 1.3075 low (23% fib of 1.2620-1.3220) on yesterday trade, returning to 1.3200 make just triple top sense for me. In high probability we should see another dip correction below 1.3070, my initial target is round 1.3000 number.
Enter Short above 1.3150 for 1.3050 and 1.3000 test with stops above 1.3250.
Added by Reza Ajorloei on January 31, 2012 at 7:44am — No Comments
Market will remain choppy and undecided about the trend unless there is clear view about the outcome of Greece meeting. The key to Euro’s next major up move largely depends on announcement of agreement between Greece negotiators and the private creditors. Otherwise Greece will not be able to avail bailout package facility that it requires to meet its March bond maturity.
While, market is also keen to know the…Continue
This market came up and retested the new resistance /old support area. There was a double touch on the hourly and i entered on a break below the swing low on the 1 hr. Stop is above the swing high, and just above resistance area. Target is down to the next support area about 3:1.…Continue
Well, in the previous post I had mentioned that I expected a support near 1.3080. The support came there i.e. at 1.3077.
Now I would expect a resistance near 1.3065. If a firm break take over that then I would take that as an indication that the recent downward correction is over and possibilities of a retest of 1.3233 and then the earlier upward correction to continue would become stronger. On the other side if EUR/USD breaks below 1.3077, I would still expect supports in…Continue
Added by Himanshu Jain on January 30, 2012 at 10:30pm — No Comments
The Chinese government wants to emphasise once again that it has the final say in the value of the currency.
China will make Shanghai the global centre of yuan trading, clearing and pricing by 2015, according to a specific state plan laying out the city's future as an international financial centre.
The detailed plan, published jointly by the country's economic planning agency and the Shanghai government, shows the scale of China's ambition in creating its own version of New…Continue
Added by Ron Schelling on January 30, 2012 at 8:27pm — No Comments
Added by JT on January 30, 2012 at 5:51pm — No Comments
Today (30th Jan) I have presented "Asian session: Live market analysis " webinar and the same is recorded and given in the below mentioned link:
I have explained the expected market moves during this monthly trend reversal…Continue
Added by Dr. Sivaraman on January 30, 2012 at 5:10pm — No Comments
Interesting debate going on
Well,I had mentioned 1.3060. But then what is a trader who doesn't make a mistake ;). The support shoul come near 1.3080 and a break below 1.3077 should bring some more downward move to 1.3050. Overall a break below the psychological level of 1.3000 should really decide the short-mid-term direction as overall I stay on the bearish side.
The chart also shows my current position:…Continue
Added by Himanshu Jain on January 30, 2012 at 1:00pm — No Comments
US Treasury Department reconsiders exempting Forex from OTC Derivatives Regulations
by Michael Greenberg at Forex Magnates
En route to an official visit to Israel, Neal Wolin, the US Deputy Secretary of the Treasury Department commented that the treasury dept is currently debating whether or not to exempt FX products…
Added by Francesc Riverola on January 30, 2012 at 12:35pm — No Comments