GBPJPY formed a pin bar today, however the pair is still fighting to break through that key resistance around the 172.70 level. This wedge, which formed earlier this year, comes after a strong uptrend since 2012, so a break to the upside is favored. The coming days should prove interesting as we'll watch to see if the pair has the strength to break through this key resistance level.
The next resistance after the 172.70 level doesn't come in until around 179. This can be easily…Continue
Added by Justin Bennett on April 30, 2014 at 10:20pm — No Comments
GBPJPY just put in a 4 hour bullish pin bar off a key level. The daily chart is also at the very top of the upper range on the wedge that has been forming for the past 3 months (see daily chart below). We'll have to see how the rest of the day plays out, but right now this pair is looking very constructive.
Here is the pin bar on the 4 hour chart...
GBPJPY Daily chart
Get More at …Continue
Added by Justin Bennett on April 30, 2014 at 12:30pm — No Comments
EURJPY 5 Min:
Today was the release of the EUR Consumer Price Index Figures. Most people expected price to drop and indeed it did initially but unless they closed their positions with admittedly a 20 pip gain if they entered quickly -and lets face it most would have been slipped and most of those who were not would have been holding on for more-…Continue
Added by Constantine on April 30, 2014 at 11:23am — No Comments
"To me a wise and humane policy is to occasionally let inflation rise even when inflation is running above target". Janet Yellen, chairwomen, US Federal Reserve.
April 30th. Today is not just the end of the month where additional flows can cause volatility but it is also filled with Fed event risk this evening. We have…Continue
Added by Gary on April 30, 2014 at 8:30am — No Comments
Recommendations: SHORT positions below 1.3830 with 1.3780 & 1.3750 as next targets.
Alternative scenario: The upside breakout of 1.3830 will call for a rebound to 1.3850/80..
Description: The EURUSD failed to hold above the 1.3815 levels as recommended yesterday , at the moment 1.3815 serves as strong resistance , as a result , Intraday outlook turns to the downside with risk towards 1.3780/1.3750 levels , further…Continue
Added by Haitham653 on April 30, 2014 at 7:40am — No Comments
GOLD: Sell1295,TP1283/75,SL1304, BOB1306
Important New: EUR: CPI Flash Estimate y/y @02:00pm, USD: ADP Non-Farm Employment Change, Advance GDP q/q @05:30pm, FOMC Statement @11:00pm BOB stands for break out buy and BOS stands for…Continue
EURUSD has turned slightly lower in this week from around 1.3880 which makes decline from 1.3900 more complex than on the first place but still corrective. We are looking at a three wave pullback now to to 1.3760 area where pair could be looking for a base and new turn to the upside. Keep in mind that larger trend is bullish since pair reversal up from 1.3671 at the start of April so we think that sooner or later that direction will resume.
EURUSD 4h Elliott Wave…
Added by Gregor Horvat on April 30, 2014 at 7:05am — No Comments
Although EURGBP traded to our 1st upside target Tue, gains above the 13 day moving average proved limited. The resulting reversal proved the relevance of that avg with selling pressure taking prices through an important Marabuzo line and a 76% correction to this year’s upside. Although sentiment is now oversold, providing potential for profit taking, the focus remains on the downside with potential to .8191, .8174 or even .8158.…Continue
Added by Alan Collins on April 30, 2014 at 6:14am — No Comments
*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.6818
Sell Stop: 1.6833
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…Continue
Added by Martin Kay on April 30, 2014 at 4:57am — No Comments
I am posting the intraday key levels for EUR/USD . The strong ones are underlined. These levels are identified as per technical outlook and the discerned movement till date that includes the fundamental analysis also. These levels therefore give you a high probability case for a price to bounce/pull back (by 7-20 pips) when it reaches the levels for the first time in the day.
GBPJPY looks to have broken out of the wedge that's been forming for the past 3 months. Because the breakout was not overly convincing, it can be somewhat subjective depending on where you have your lines drawn. The coming days should confirm whether this is a true breakout.
If we look at the GBPJPY weekly chart, we can see that the next key resistance looks to come in around the 179 level. We have to go back so far because price is currently at pre 2008…Continue
Added by Justin Bennett on April 29, 2014 at 11:34pm — No Comments
Hi fellow traders, hope you are all well.
Yes i´m still here sometimes, sorry for posting nothing for such a long time.
Today i need your help/opinion about the following problem: it happened to me today that - strange enough - two limit/target orders, one for a short and one for a long position, were just on the high and the low of the market (crude oil), both were not executed, at my complain why not i got the following answers:
CFD/MT Dealer: so when the low was at 100.85,…
I am posting the intraday key levels for EUR/USD . The strong ones are marked in green and these levels are identified as per the technical outlook and the discerned movement till date that includes fundamental analysis as well. These levels therefore gives a high probability case for price to bounce or pull back (by 7 to 15 pips ) when it reaches these levels for the first time in the day. So follow these levels and make better trade set ups.
Divergence on the RSI and sharp 50 pip rally from the low suggests that AUDUSD found a temporary low. Ideally pair completed a five wave decline in leading diagonal so current reaction to the upside should unfold in three legs. Resistance area is at 0.9330/60 where we will be looking for signs of a new turn to the downside.
AUDUSD 1h Elliott Wave Analysis
When diagonal triangles occur in the fifth or C wave…
Added by Gregor Horvat on April 29, 2014 at 3:06pm — No Comments
"When offered quick profits, respond with a quick no". - Warren Buffett.
April 29th. Later this week we have a lot of key economic data for the US Dollar which has been searching for a bottom of late. While we may not find the bottom for the US Dollar and could push lower, a handful of key technical indicators are showing…Continue
Added by Gary on April 29, 2014 at 9:18am — No Comments