First, I am not a journalist. Second, I trade part time. Third, I am currently long USDCAD with 4 positions at 98.55 with stops just below 1.0100. And finally, I am posting this for the forex trading sphere and like minded traders. Please do not trade according to my thesis. Due diligence is warranted.
With that out of the way, I am finally pleased to see the USDCAD is trading according to the underlying economics. I don't know why it took this long for the Canadian dollar to…Continue
Very interesting article about delation/inflation.
A must to read, so click on the pictures for more.Continue
Added by Ron Schelling on March 31, 2013 at 4:22pm — No Comments
The average on the 6 major pairs against the US Dollar has dropped in the last 4 sessions, from very strong to neutral.
For more click on the chart:
Added by Ron Schelling on March 31, 2013 at 4:17pm — No Comments
Recommendations: SHORT positions below 1.2847 with 1.2660 & 1.2500 as next targets.
Alternative scenario: The upside breakout of 1.2847 will call for a rebound to 1.2940/1.3047.
Description: The EUR/USD continued its bearish momentum last week, a short term bottom has been placed at 1.2750 levels, 4 hour close above the key resistance 1.2847 will confirm bottoming at 1.2750 and should pave the…
The British pound was down slightly against the dollar last week, as GBP/USD closed just above the 1.52 line, at 1.5201. This week could be eventful, as the highlights include PMI numbers and the Official Bank Rate. Here is an outlook of the events and an updated technical analysis for GBP/USD.
Last week saw disappointing data out of both the US and the UK. The UK Current Account Deficit widened, while the US had a particularly bad week, with poor…Continue
Added by Yohay Elam on March 31, 2013 at 1:22pm — No Comments
GU : Looking for initial 5150ish to 5250ish play or 100 odd pips as projecting on 2 hrs and 30 mins.. 8 hrs with bigger picture and 5277-80 is solid resis with 5130-33 as solid supp... Overall this has potential to the north side if can break 5280 clean for a move higher to late 53's..
Added by Tahir Khan on March 31, 2013 at 10:35am — No Comments
EURUSD: With a sell off reversing its corrective recovery the past week, further weakness is likely in the new week. This leaves the pair targeting the 1.2700 level with a loss of here turning attention to the 1.2660 level and then the 1.2600 level. Further down, support lies at the 1.2500 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, EUR will have to break and hold above the 1.3047 level to annul its downside and turn attention to the 1.3250…Continue
Added by fxtech on March 31, 2013 at 9:55am — No Comments
EURO; I'm finding hard to to do a proper layout for charts are kinda messy as in a price action wise.. This happens normally when we to see a turn around on the main direction or simply hints on to some poor price action as in congestion and…Continue
Fear of Loosing ... this is the factor ! Even a great plan comes up with a Break even! Specially for scalpers .. Let me share some Money management stuff's how i control my Scalp trades ..
First Image : …Continue
EUR/USD tumbled down to 4 month lows as the solution for Cyprus left worrying precedents for the future. The beginning of a new month puts the focus on Mario Draghi and the ECB. Will the central bank pull a new magic trick? In addition, we have PMIs as well as many other interesting events are on our list for this week. Here is an outlook for the upcoming events and an updated technical analysis for…Continue
Pretty much details within the charts.. There is still one minor leg down on UJ around to 93.80ish possible but don't see it going further than that for the time been. In other words the correction on UJ is getting over and we could be riding back higher..
Up on EJ and suspecting as we have tried the lower side and time for a bounce is around the corner..
121.20-30ish looks decent on resis but an eventual break higher is seen with EJ surging...
I also feel that EURO…Continue
Added by Tahir Khan on March 30, 2013 at 8:38pm — No Comments
What Forex Target Traders See: We are currently sitting @ 1.2822 . We are in a correction which indicates a continuation to the downside trend wall. We are looking for a continuation to the S7/ support @ 1.2725. We could have a short move to the upside trend wall first however. The next major down target is the -01.270 fib extension @ 1.2843. The average (14 day) daily true range (ATR) for the pair currently is 93 pips. …Continue
Added by Scott Barkley on March 30, 2013 at 3:39pm — No Comments
USDCHF- The pair looks to return above the 0.9566 level following its rally the past week. An eventual return above here will set the stage for a run at the 0.9600 level followed by the 0.9773 level, its weekly ema. Its weekly RSI is bullish and pointing higher supporting this view. However, a return below the 0.9352 level will annul its past week gains and pave the way for further downside towards the 0.9230 level and possibly the 0.9150 level. Further down, support cones in at the 0.9100…Continue
Added by fxtech on March 30, 2013 at 2:48pm — No Comments
A Daily white body has formed (because prices closed higher than they opened).
For the past 10 Daily candlestick bars as of 29/03/2013, there are 6 white candles versus 4 black candles with a net of 2 white candles.
For the past 50 Daily candlestick bars as of 29/03/2013, there are 25 white candles versus 25 black candles.
A Daily spinning top has formed (a spinning top is a candle with a small real body).…Continue
Added by Martin Kay on March 30, 2013 at 12:54pm — No Comments
I am anticipating this move towards the Demand level on a Weekly and Daily chart. They all at the same spot. A failed supply which is now flip a strong Demand. I am anticipating that this will be the turn for a bull run possibly for April.
All i need now is a strong move down towards that demand at 1.2650 roughly or lower. A bounce from here will…Continue
I would like us all to recognize the work Haitham does at forexstreet.net from another perspective. His knowledge and skills as an analyst and trader are unquestioned, well known to everyone here and have been appreciated on numerous occasions. It is Haitham's human qualities that I would like to highlight in this post.
Over the past few months my attention has been drawn to his posts and the comments/questions that they generate. Sometimes the questions asked are from…Continue
The AUD/USD maintained bearish momentum the past few day, a short term top has been placed at 1.0496 levels, pressure now will be on the key support 1.0340, losing this level on a daily closing basis will suggest that rise from 1.0114 is finished at 1.0496, If seen , this scenario will pave the way towards 1.0114 levels and even lower..
On the upside, the AUD/USD will have to hold above 1.0496 on a daily closing basis to push the market for further upside gains, If seen, this…Continue
Added by Haitham653 on March 29, 2013 at 1:18pm — No Comments
It’s been a rough week for the EUR/USD, but the pair is steady in Friday’s European session, trading in the low 1.28 range. The euro was helped by weak US data on Thursday, as employment and GDP numbers missed expectations. In Cyprus, banks across the country reopened for the first time in almost two weeks, with relative calm reported. In economic news, French Consumer Spending disappointed, as it was way off the…Continue
Added by Yohay Elam on March 29, 2013 at 10:39am — No Comments
EUR price went up yesterday for a while because of partly profit taking ahead of the Good Friday holiday. Today most of the markets will remain closed and low volatility is expected. We shall have significant moves next week as the new month starts and after some recovery to the upside more EUR drop will follow. Seems that EUR fall has no end, the news of Cyprus is starting to fade as the country slowly is trying to return to normal life, they have recieved bailout aid, so everything is…Continue