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
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…
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
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
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
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
If EURUSD stays below 1.2850 and closes on 30 min chart below 1.2800 we could see another down move to first target 1.2715, and second target 1.2693. After that some recovery should be seen on EUR.
If EUR closes above 1.2850 on 30 min chart, it could mean start of bumpy reversal, and reach max of 1.29
These are my crystal ball predictions for 29-03-2013.…
Added by Viktor on March 29, 2013 at 5:49am — No Comments
First at ALL, I wish happy Easter for my friends from FXSTREET.com
And you too Franscesc (owner)...
Despite the quiet day for next couple of days i like to think in next trades so far :D
Well... about the euro i don't see still reasons to enter long due lack of economic data... I was finally waiting for a bearish bin par and i think that we could think seriously to enter short.
The pin bar finally appeared…Continue
Added by Igor on March 29, 2013 at 1:00am — No Comments
FX Studies is FXstreet’s customizable page with a wide selection of technical studies, fundamental data, tools and content filters. It is made of more than 40 widgets that the user can add to his/her own dashboard. All are adjustable to the trader’s time horizons, currency pairs and trading style.
We’ve recently added 6 new widgets…Continue
Added by Francesc Riverola on March 28, 2013 at 3:17pm — No Comments
Recommendations: SHORT positions below 1.2847 with 1.2735 & 1.2660 as next targets.
Alternative scenario: The upside breakout of 1.2847 will call for a rebound to 1.2890/1.2940.
Description:As long as the hourly close is below 1.2847,intraday bias is to the downside, an hourly close below 1.2750 will accelerate the downside move suggested for today towards 1.2735/660 levels,an hourly close above…
Hi everyone... call it maybe a silly initiative but I would like to involve you all in the elaboration of an eBook where all of you willing to participate can share your best piece of advise to FX traders.
My initial idea was to put together a nice compilation of experiences, advise and trading secrets of real traders as you guys are. I think it could be something very…Continue
This is week is being interesting. At least, for eur/jpy cross.
Like expected the downtrend was followed up to 119,90 and i am waiting some fresh bounce for next 24hrs. H4 chart give us a hint that bullish pin bar will be formed soon and thus a new long setup could be done as well.
EUR/USD surrendered to pressure and fell below 1.28, extending losses following the announcement of a rescue package for Cyprus. The bailout agreement that was announced on Monday has left many uncertainties, and an ill timed comment by the head of the Eurogroup also put a lot of pressure on the common currency. Banks in Cyprus remain closed as officials try to sort out the details of the bank haircut. In the Eurozone,…Continue
Added by Yohay Elam on March 27, 2013 at 10:36am — No Comments
Recommendations: SHORT positions below 1.2940 with 1.2840 & 1.2765 as next targets.
Alternative scenario: The upside breakout of 1.2940 will call for a rebound to 1.2995/1.3040.
Description: No change in my view, as long as the hourly close is below 1.2940,intraday bias is to the downside, an hourly close below 1.2829 will accelerate the downside move suggested for today towards 1.2765/35 levels,an…
EUR is again in consolidation after the Moday's drop and currently trades around 1.2840 which is below MA200. Yesterday we have reached 1.2828 and then the price reversed back to 1.2880 then pullbacked to 1.2850. Still no news from the EU, no banks in Cyprus and no money in people's pocket. On the background we have the happy dollar gaining strenght all across the markets. GOLD also is turning south because of the dollar power. Indicators on all time frames point to the downside and i expect…Continue
Using the story of a fictitious, frequently traveling programmer named Joe, I explain in this video some of the factors that have influenced exchange rates over the past four years.
Licenses: Series 3, 34
JP Morgan - "EUR/USD targets are unchanged this month – Q2 1.32 and Q4 1.34 – despite the turmoil in Cyprus, but the risk bias is to the downside. The corresponding targets for various crossrates are EUR/JPY 128 and 131, EUR/GBP 0.895 and 0.885, EUR/CHF 1.22 and 1.21, EUR/SEK 8.40 and 8.35, EUR/PLN 4.10 and 4.00 and EUR/MXN 16.24 and 16.35.
Alternative scenarios to our base-case view
Risk bias: Downside in Q2
Added by Francesc Riverola on March 26, 2013 at 6:33pm — No Comments