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
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
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
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.
The EURUSD was in a channel trading range last week, until Friday when the price broke higher. For most of Friday, the price moved higher and lower in more volatile trade as the effects of Greece and weaker US data pushed the market. Today, with holiday trading, the price action is contained but holding the old channel line - now as support. The line currently comes…Continue
Due to holiday mood the market volume appears to be thin.Hence the contrarian moves are seen - all the majors and commodity pairs showing negative net change from friday close.This sort of move is to handle the crosses on the down side.When such contrarian moves happen - once the low in the numerator and the denominator currency is not breached ror 30 min and also in the respective cross,then once can buy near low with 50 pips stop to exit the next day when they show opposite of current…Continue
Added by Ron Schelling on May 29, 2011 at 7:44pm — No Comments
Monday (30th May) - the given below is the expected market moves derived from the forecast algorithm.
it may or may not happen- still I am posting it here for those who wish to have the forecast before hand.I suggest traders to use it as an additional input for their trades if feel usable and those who want to reject can do so and give suggestions to improve it if they want to do so.
It is not trade recommentation and may be used to understand the collective behavior of the…Continue
The precious metals continued their rally during last week as silver and gold inclined for the second straight week; as a result, gold prices reached by the weekend within 1.2% from its price level at the beginning of May.
There are still concerns over the major economies slow recovery mainly the U.S. as major economic indicators such as home sales, GDP and employment don’t present a big improvement in recent…Continue
Added by Lior Cohen on May 29, 2011 at 5:30am — No Comments
The Euro managed to stabilize and retrace some of its falls, as the Greek crisis continues. How long will it last? The upcoming week consists of key inflation and employment indicators – keys to the rate decision. Here’s an outlook for the upcoming events and an updated technical analysis for EUR/USD.
At least 7 new signs appeared, hinting…Continue
Added by Yohay Elam on May 28, 2011 at 1:44pm — No Comments
I'm very honored today to announce that French Bank BNP Paribas is going to be publishing their economic research on FXstreet.com.
As it states in Wiki: "BNP Paribas S.A. is the largest global banking group in the world, headquartered in…Continue