Added by Futuristic on May 31, 2014 at 4:19pm — No Comments
What ProAct Forex Target Traders See: We are currently sitting @ 1.3632 after a violent correction from the rising wedge which we alerted to. The correction is on the 0.786 Fibo which is a definite bounce point so watch for a move back up – which may be short-lived. If we do not get the bounce look for the 1.3473 Day chart target down. The average daily true range (ATR) for the pair currently is 63 pips.…Continue
Added by Scott Barkley on May 31, 2014 at 3:19pm — No Comments
USDCHF: Looks To Trigger More Corrective Weakness.
USDCHF: While the pair’s three-week uptrend may be intact, corrective pullback risk continues to develop. With USDCHF closing flat the past week, we think a correction of the mentioned uptrend could be building up further. In such a case, the 0.8932 level comes in as the next downside objective. A turn below here will expose the 0.8896 level where a breach will pave the way for a run at 0.8859 level and possibly lower towards the…Continue
Added by fxtech on May 31, 2014 at 2:38pm — No Comments
The average of 6 major spot currency pairs against the USD.
More charts on:
Added by Ron Schelling on May 31, 2014 at 7:50am — No Comments
EUR USD 5 Min:
Today was the par for the course for the last 2-3 weeks with not much clear clean scalpable movement rather sudden moves breaking up lots of small overlapping candles or tight channels.
Even the price spike on USD CAD today yielded no clear price action scalp which was unusual.
EUR USD started channeling up for no…Continue
Added by Constantine on May 30, 2014 at 9:05pm — No Comments
have open position EURUSD is 1.3634
and USDCAD 1.0854 both are buy market orders.
Currently we are at 94.52. We are looking for a move through the bear flag and then a continuation to the S4 area @ 93.82. Overall target next week is 92.95. The average daily true range (ATR) for the pair currently is 55 pips.
Added by Scott Barkley on May 30, 2014 at 12:58pm — No Comments
EURJPY: Recovery Risk Builds Up
EURJPY- The cross may continue to face downside vulnerability but now faces recovery risk with a rejection candle printed on Thursday. It will have to follow through on that recovery to open the door for more upside. Resistance resides at 139.35 level where a break will aim at the 140.00 level and then the 140.94. We may see a breather here but if that fails, further gains could follow towards the 141.50 level. A cut through here will target the 142.46…Continue
Added by fxtech on May 30, 2014 at 11:56am — No Comments
“I think to be in the upper echelon of successful traders requires an innate skill, a gift. It`s just like being a great violinist. But to be a competent trader and make money is a skill you can learn”. Michael Marcus – Trader
May 30th 2014. So I think it would be fair to say that “sell in May” has gone away for another…Continue
Added by Gary on May 30, 2014 at 10:55am — No Comments
EUR/USD is trading in a narrow range above 1.36 as the week draws to a close. The tension is mounting towards the ECB decision in less than a week, and inflation figures play a major role. The data from Spain and Italy certainly looks weak and raises the expectations for ECB action. Some interesting figures also await us in the US, with the Chicago PMI standing out. Where…Continue
Added by Yohay Elam on May 30, 2014 at 9:53am — No Comments
AUDUSD rallied back above 0.9315 in this week which means that decline from above 0.9400 was a three wave move, a correction that should belong to a bigger pattern. Notice that price is actually still sideways as ranges holds so we are now observing a triangle that can be in progress already since mid-April. If that is the case then current rally from 0.9205 will also be a three wave temporary rise as we are tracking wave (d) now, still only fourth leg in a triangle.
Added by Gregor Horvat on May 30, 2014 at 8:00am — No Comments
Major currencies pair and metal firmed Against US Dollar after Disappointing US GDP data. Technically Dollar index is in a corrective wave and it seems that major Indirect currency pair will jumped today.
Look at the mentioned below technical levels, based on SMA100 and 200 analysis.
EUR/USD: Buy above 1.3605 ,TP1.3655/75 ,SL1.3590 ,BOS 1.3580
GBP/USD: Buy above 1.6730 ,TP1.6775/85,SL 1.6698 ,BOS1.66695
GOLD: Buy above 1255 TP1263 SL1250…Continue
Added by Usman Ali on May 30, 2014 at 6:57am — No Comments
Investors bought the cross to higher levels for a 3rd day in succession. However, although the market traded comfortably through the key 13 day avg, levels beyond that point were not maintained into the close. So despite this week's gains so far, it is the failure to extend beyond that point that signals a weakness of demand.
Coupled with the underlying negative tone reflected by the steady decline from March's high we look for a renewal of selling pressure with scope to .8104 and…Continue
Added by Alan Collins on May 30, 2014 at 6:16am — No Comments
EUR consolidates just at the support area 1.3590-1.3600, we are currently below the SMA200 @ 1.3640 and through 1.3660 we have a strong daily resistance area, which won't be broken easily. I recommend to SELL EUR on every attempt to test 1.3700 with 20 pips SL. Seems that the EUR is going to make some upside correction ahead of the next ECB meeting in June. As long as the price is below 1.3640 we are bearish.Above 1.3670 we may witness a test of 1.3705-1.3720. Weekly support is at…Continue
This analysis is about the intraday key support/resistance levels for EUR/USD . The stronger 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 price…Continue
Added by Nili on May 30, 2014 at 4:00am — No Comments
EURNZD isn't a pair I used to trade very often, but lately it's been fun to watch and trade. The pair has been consistently giving us great pin bars at key levels. Today was no exception.
The one comment I will make regarding recent price action, is that the pair is starting to run out of real estate so to speak. This is a terminal wedge, meaning it has to eventually break one way or the other. See the next chart for a better perspective.…
Added by Justin Bennett on May 29, 2014 at 11:00pm — No Comments
The Crude Oil market popped higher today back towards key resistance, this may well provide traders with second chance to look for short opportunities here with a very good risk / reward opportunity.
Added by Lewis Barber on May 29, 2014 at 10:24pm — No Comments
EURGBP- Loses Upside Momentum. Hesitates.
EURGBP- With further recovery higher stalling and taking back most of its intraday gains, it now looks to begin a correction of its move from the 0.8080 to 0.8152. If this is eventually triggered, expect a retarget of the 0.8116 level where a violation if seen will activate further downside towards the 0.8080 level where a violation will turn attention to the 0.8050 level. Further down, support comes in at the 0.8050 level. On the other hand,…Continue
Added by fxtech on May 29, 2014 at 3:29pm — No Comments