Euro USD is continuing its downward spiral. Fears are rising that Spain may be forced to ask for an international bailout, as the recession and banking crisis continue to take their toll on the economy. mount together with yields. In Greece, the EFSF injected 18 billion euros into the country’s struggling banks. This may shift the focus away from the troubled nation for now, but capital continues…

Today’s Spanish downgraded has added further downside pressure on the euro hitting 1.2485. This level represents the 61.8% Fibonacci extension taken from the October and February highs and may provide some near-term support.

It seems that the crack is fast appearing in the Spanish banking system and ECB is unwilling to come to its rescue due to size of damage, which may not be easily repairable. This could be one big factor that sensing problem ahead, the Spanish Prime Minister appeared in an emergency news conference on Monday to give confidence about its banking system, which is certainly not in good shape.

The reason is very simple that the Spanish banks have already…

US Non-Farm Payroll will likely impact EURUSD & S&P500 as momentum is likely to continue decelerating into the key level at 54k (2011 low), potentially renewing safe haven flows back into the USD and compounding EU contagion pressure.

Economic data and news flows are light this morning as market participants take stock of the significant moves across asset classes in the past week and position themselves for a data-heavy end-of-week.

Global manufacturing data releases on Thursday and Friday are expected to show weakness outside of the US, while a modest improvement is anticipated in the world's largest economy. The US will also be reporting employment data for the month of May this Friday and this release is seen…

Sir Gissachance;How? Why?

USD/CHF - Head Fake Above .9600?

The Swissie today formed its first daily close above the .9600 level which is the first time in over 14 months it has done this.  The question is, is this a false break or head fake?  Although it closed above the key level by 3pips, it has formed a rejection of the lows and the highs forming a trading range.  As you can see from the chart below, price has thus opened inside the wick or rejection area of the prior…

After over 30-years of observing markets, if there is one thing I am certain of, it is that everything going on in the world naturally, socio-politically, and economically is reflected in the high, low and closing prices of a market's chart. The old saying "the market discounts all things" is gospel in my book. The question for traders is never: "what do you think of that durable goods number?", but "what do you think of the market's reaction to that durable goods number?" And once you view…

Take a look at divergence.

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Hi everyone

Gonçalo Moreira wrote a summary of what have been learned at the ITC 2009, with Markus Heitkoetter, Ashraf Laidi, Kim Kramer Larsson, Andrei Knight, Valeria Bednarik, James Chen and Rob Booker.

I hope you like it and you'll join us here next month of June

Francesc

The ITC 2009, the Spirit of a…

Entered short on a bit of a consolidation. Again an ABCD pattern with D entering but not really breaking the resistance zone. It did pullback again for a third pullback after my entry but appears now to be resuming the trend.  I put a limit of 2 R but if  i m close to my computer when it gets close i will remove that and trail dynamically.  I find when there is a lot of open water between my entry and the next logical s/r targets larger than 2 R are uncommon without a pullback of some sort.…

Currently the cross  is  @ 1.2533.   A break of the bear flag will target the S6 support @ 1.2456.   A break down there, look for the 1.2298 support.…

Hello and good morning friends

Lets take a look on EURUSD from weekly to H4 on presented charts.

Weekly: we have well defined downtrend channel from 1.4940 to 1.2620, dynamic channel resistance currently located around 1.3000. Also decline from 1.3486 to 1.2495 is…

Eur/Usd is approaching 1.25000 level. Plenty of reported options below this level and for sure will have plenty of stop loss orders too. I doubt the pair could trade much past the 1.25000 level. There are just too many interest below the level to protect. A catalyst for a trend, the Greece Election, is only three weeks away, I doubt professional will be taking a punt on which way the market is going to go right now, too much risk! I predict a range trade between 1.24900 -…

Spain, Greece and the Horror with No End...For Now

Although markets were calm today from the US Memorial Holiday, Spain today asked the EU to act in providing support for fiscally frail gov'ts (read 'Spain is begging for help') as its fiscal gaps and banking system (but, but...Bankia is fully solvent you said) are getting pummeled with soaring yields which are punishing the rates on bonds.  Again, Spain is 4x larger than Greece so if Spain…

                                            USD/CHF

 Monthly. My specially calculated line sits just below the present long candle at 0.9005 and is presently flat to signify directional uncertainty yet more confidence in a long position than short exists due to not only the robustness of my line but its a line that holds prices above or below it with complete confidence. More confidence exists to longs due to the shorter 5 and 10 day moving average crosses from below…

Eur/Usd is struggling between 1.2500 to 1.2600 today. traders has started trading for long positions in a logic that bearish trend has been ended up and Eur getting better. So this is a time to buy target should be 1.2700 for weekly trading. !.2500 is a strong resistance even USA session is unable to break it. 

Today -28th May I presented " asian session: Live market analysis" webinar.The reording of the same is given below to follow the expected market moves during this week

Link:…

Last week gold and silver continued with their downward trend during most of the week up to Thursday. Will this downward trend continue as we are entering the last week of May? During last week the main news items were related to the U.S housing market: the U.S new home sales and …