The 240-minute uptrend on the GBP/USD has broken lower through the uptrend line support of the pattern. This triggers a pattern break but not necessarily a trend break. To define the trend, I use the 34EMA Wave which is still travelling higher in a "twelve to two o'clock" uptrend therefore I will expect it to act as support on a pullback. The pattern break is still a short entry trigger since the Directional Bias on the daily time…Continue
Hi everybody, for this presentation I take a look at Cable and build on our analysis from last week. I take a much broader view and work our way down to an intraday perspective. I hope you enjoy the video and good luck today! David Pegler
Happy first of the month to you all. For todays video, a little review of the previous USD/JPY plays we had and then we switch to the Kiwi dollar. The main reason as the video explains is the Kiwi has no one at home therefore should be plain sailing. The Yen on the other hand is smack in the middle of a fib war. Can make money but a tough battle compared to the Kiwi.
Have a good day.
Added by FX BOOTCAMP on May 31, 2011 at 6:55pm — No Comments
The USDHF made new lows today and has been pressured since the IMF said last week that the SNB should raise interest rates. Today, the Swiss GDP came out weaker than expected and puts into question that idea. Nevertheless, the price remains the all time lows and also below the 'old' low from the earlier in the month (at 0.8552).
What would give me…Continue
Added by Greg Michalowski on May 31, 2011 at 5:55pm — No Comments
WOW, almost 1000 pips down on the Euro in 2 months time.
Is the Swiss chees so strong of the Euro very, very weak !
How far can we go ?
Added by Ron Schelling on May 31, 2011 at 4:00pm — No Comments
EURO made a nominal slide and GBP made a decent drop from high .USD/CAD and AUD are showing positive net change.So the contrarian moves are to be seen during mid session.We do see EURO and USD/CHF showing positive net change.EURO shwoing positive net change and GBP shwoing negative net change.EURO showing positive net change and USD/YEN shwoing positive net change.All these contrarian moves are to handle the respective crosses.
Later late US session may show further slide in EURO and…Continue
OsMA trend indicator having marked a higher high while the market make a lower high - not completed yet - a daily close below 1.6370 is gonna confirm the hidden divergence and may test…Continue
Added by Francesc Riverola on May 31, 2011 at 2:00pm — No Comments
The cross has corrected and is currently trying to break the trendline to the upside @ 81.67. A break of this to the upside targets the double top @ 82.26. If we do not break the trendline we will look for a return to the S3 target @ 80.82 ( 1.618 fibo). …Continue
Added by Scott Barkley on May 31, 2011 at 1:21pm — No Comments
According to 1 hour chart , we have strong upward trend , so I assume a retracement to the area between 1.4340 /1.4320 where it's recommended evaluate activities on smaller time frames 60 min and below ,…Continue
We are moving our yearly International Traders Conference (ITC) from October to June, so this October 2011 there will be NO ITC and the fifth edition of such successful event will take place in Barcelona in June 2012.
Well.. for several reasons: we thought the weather will be nicer, better flight connections for those coming from abroad as in summer…Continue
Hi everyone and welcome! Against my expectations and despite quite disappointing figures early Europe, the Euro is showing an impressive strength against its rivals, steady around 1.4400 against dollar and above 117.00 area against yen. Strong recovery in stocks since early Asian opening, and commodities, may be reason of this run, yet also the fact that Germany capitulated to demand further tightening and restructuration, along with geting ready to provide more loans. No matter what…Continue
Added by Valeria B Bednarik on May 31, 2011 at 10:28am — No Comments
Almost 100 pips from open of today, and with the unemployment well below the forecast we are going short through the american session. You may go short @ levels around 1.4420 - first target 1.4370, second target 1.4330, and if a strong move we may go to 1.4280.
Don't forget to place stop 30-40 pips against you position, because there always are surprises.
Added by Vladimir Mihaylov on May 31, 2011 at 10:25am — No Comments
Added by Francesc Riverola on May 31, 2011 at 10:04am — No Comments
Added by Francesc Riverola on May 31, 2011 at 9:57am — No Comments
When EURO is holding above initial high ,GBP is making the slide below the psychological level 1.65.We know GBP is the currency the players use to create market sentiment.
EURO/GBP is making the upward move because of contrarian move.Euro is expected to follow GBP way from mid European session after handling the crosses.
European session start time show upward move above initial high in EURO and also in USD/YEN.it appears the yen crosses are handled on the upside.Follow up rise is not happening for 10 min - it may be a stop hunt- if stay above initial high for more than 30 min then extended move may be seen.if the holding above initial high exceeds 2 hrs then the intentional move of further rise may be seen.so note the time taken for the move to assess the types of move.
EURO made a quick rise during japanese session start and GBP followed nominally.USD/YEN also gained the level to gain levels in YEN crosses.A contrarian move where in EURO,GBP and USD/YEN are showing positive net change.USD/CHF is also slowly gaining the levels to make upward contrarian move opposite of the downward contrarian move of yesterday.
Expected market moves in EURO and GBP for today.
Initial volatile moves and slide during japanese session.
Bullish trend continues and we have reached 1.4404 this morning. Good news from Germany and bad news from USA are expected. My forecast for today is LONG eur/usd , buy on a pullback to 1.4335-40 and stay long to 1.4415. Resistances at 1.4422 and 1.4433. You may stop below 1.4320, but i think for today 1.4300 should hold.
Everyone don't care what's happening in Grece, all just want to buy EUR, hoping Mr.Trichet to support EUR once again if this happens in his speech on Thursday we may…Continue
Added by Vladimir Mihaylov on May 31, 2011 at 3:30am — No Comments
it is holiday in US.Still small swings in the middle levels are seen in most of the pairs.they are initial session start swings.The slide may be seen mid and late sessions.Now the net changes in majors and commodity pairs show nominal USD gaining moves.When the denominator currencies are held the numerator currencies may show slide to start with.Later the denominator currencoes are expected to gain more following the numerator currencies making USD gaining moves for the day.