Featured Blog Posts – May 2014 Archive (149)

Target Trading in the Forex upcoming week of June 1, 2014

$EURUSD

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.…

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Added by Scott Barkley on May 31, 2014 at 3:19pm — No Comments

AUDUSD Elliott Wave Analysis: Big Triangle In Progress

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.

AUDUSD 4h…

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Added by Gregor Horvat on May 30, 2014 at 8:00am — No Comments

Daily Technical Ananlysis AND Trading Recomendations as on 30-5-2014

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…

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Added by Usman Ali on May 30, 2014 at 6:57am — No Comments

EURGBP - Sellers to Return after upside failure

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…

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Added by Alan Collins on May 30, 2014 at 6:16am — No Comments

FOREX forecast 30.05.2014

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…

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Added by Vladimir Mihaylov on May 30, 2014 at 5:38am — 1 Comment

EUR/USD Daily key levels

Hi Friends,

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…

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Added by Nili on May 30, 2014 at 4:00am — No Comments

EURNZD Bearish Pin Bar at Resistance

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.…

eurnzd daily price action chart

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Added by Justin Bennett on May 29, 2014 at 11:00pm — No Comments

Daily Forex Trading Commentary - Thursday 29th May 2014

Crude Oil - Second Chance Short Opportunity Coming Up?

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.

Hang Seng Index - Price Rejects Key Resistance, Forms Price Action Inside Bar Today

We've been…

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Added by Lewis Barber on May 29, 2014 at 10:24pm — No Comments

FX Light- So Kiwi Breaks 0.8515. STRONG Dollar

“October: This is one of the peculiarly dangerous months to speculate in stocks.” – Mark Twain 

May 29th 2014.  Yesterday s strong dollar caused some interesting action. Pretty much as I predicted Kiwi broke weekly key support at 0.8515. I…

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Added by Gary on May 29, 2014 at 9:12am — No Comments

GBPUSD Elliott Wave Analysis: Third Leg Down In Progress

GBPUSD extended losses yesterday after a break beneath 1.6812 that opened door for 1.6730. Notice that decline is very strong from the last few sessions, which is a personality of an impulsive wave. As such, we expect a five wave cycle from 1.6916 high so there is room for a decline even to 1.6620/40.

GBPUSD 4h Elliott Wave Analysis…

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Added by Gregor Horvat on May 29, 2014 at 8:00am — 2 Comments

GBPUSD Technical Analysis as on 29-5-2014

US Dollar firmed against major currencies on Wednesday after positive US Economic indicators on Tuesday. Yesterday this pair lowers against US dollar more than 100 pips, 67% down.

Today in Asian this pair firmed little and showed some correction. Technically this pair remain in bearish journey today for intraday trading. SMA 100 and 200 are indicating a clear bearish trend, their crss over in h1 graph is a good bearish indication. Ichimoku cloud  in h1 and h4  graph is…

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Added by Usman Ali on May 29, 2014 at 7:37am — No Comments

EUR/USD Daily Key Levels

Hi Friends,

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 to bounce/pull back (by 5-20 pips) when it reaches these levels for the first time in the day. So follow these levels and make better trade set…

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Added by Nili on May 29, 2014 at 4:00am — 1 Comment

Price Action Setups: NZDUSD Critical Support Broken

A lot of great price action today in the Forex market. There are several setups to talk about so let's dive right in...

NZDUSD finally broke down today, closing below the .8520 level. We've been watching this one for a while now.

From here I think we could see the market retrace to test the underside of this level as resistance before continuing lower. In fact this is the only way I'll play this kind of break. Be sure to check out the 4 hour chart of…

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Added by Justin Bennett on May 28, 2014 at 11:14pm — 1 Comment

GOLD Broke Triangle To Downside; Levels To Watch 1255 and 1230

Finally, gold broke to the downside yesterday, out of triangle within a triangle if we consider the substructure of our red wave e). Keep in mind that wave e) can itself be a triangle as well! Notice that prices accelerated lower yesterday in impulsive manner after a trendline and 1277 swing break that opened door for new lows. Based on on triangle measurement we may see a decline even down to 1230, but above that there is a 61.8% ratio around 1255 that can react as a support. Trend however…

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Added by Gregor Horvat on May 28, 2014 at 7:44am — No Comments

FOREX forecast 28.05.2014

EUR is playing again with the support area 1.3620-30 where is also the Daily SMA200, currently we are trading a little below, but indicators say in several hours we may have a recovery to the upside. We have made some tests of 1.3600 level and a solid support has been built. Recovery will target 1.3675 first and then 1.3710-1.3740. If we reach all these and upside continues i do not expect to go much over 1.3770 so you may enter SHORT around there.

GOLD has finally decided to wake up…

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Added by Vladimir Mihaylov on May 28, 2014 at 5:06am — 3 Comments

EUR/USD Daily key levels

Hi Friends,

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 to bounce/pull back (by 5-20 pips) when it reaches these levels for the first time in the day. So follow these levels and make better trade set…

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Added by Nili on May 28, 2014 at 3:00am — No Comments

Price Action Setups – USDCAD Setting the Stage for a Move?

One pair I've been watching for a while is USDCAD. The pair provided a lot of price action setups late last year, but for the past few months it has consolidated into this bullish wedge pattern.

The wedge was broken on May 20th and I figured we would see a move higher. Instead the pair has moved lower and is now resting on the upper boundary of the former wedge along with near-term support at 1.085.

Although there's no price action strategy present, today's…

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Added by Justin Bennett on May 27, 2014 at 11:15pm — No Comments

Daily Technical Strategist On EURGBP

EURGBP- Threatens Further Upside On Correction

EURGBP- With the cross closing marginally higher on Monday and triggering further upside during Tuesday trading today, it faces the risk of additionally recovery higher in the days ahead. Immediate resistance lies at the 0.8126 level followed by the 0.8195 level where a violation if seen will turn focus to the 0.8250 level. On further upside, a breach of the 0.8250 level will set the stage for a run at the 0.8300 level and then the 0.8350…

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Added by fxtech on May 27, 2014 at 11:47am — No Comments

USDJPY Elliott Wave Analysis: Temporary Recovery

USDJPY is turning into a temporary recovery, and the reason is slow and overlapping price action at the late stage of recent decline that looks like an ending diagonal placed in wave C position, final leg of a three wave fall from 104.11. Therefore, we suspect that USDJPY is trapped in some bigger corrective price action, probably a triangle, and that pair will continue sideways or even slightly higher in the next couple of days. We expect a three wave rise up in wave C), back to…

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Added by Gregor Horvat on May 27, 2014 at 8:36am — No Comments

USDCAD - Negative Keltner channel encourages selling

The steady decline from last week's highs, and levels beyond the 13 day moving average, deepened yesterday. Net losses were modest but the underlying emphasised by the production of a 3rd down day in a row. Sentiment is oversold and until this month’s base is exceeded signals cannot be strong but sentiment is mildly negative with potential through 1.0814 to 1.0795 and 1.0777.

3cAnalysis.com…

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Added by Alan Collins on May 27, 2014 at 6:19am — No Comments

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