The EURUSD corrected higher last week, topped at 1.2624 and closed at 1.2514..
This week I assume a sideways move between the key support 1.2000/1.2200 and the key resistance 1.2800/1.3000…so exactly how this would happen!!!
1- A clear break below the key support 1.2409 (main support),would lead for more loses testing the key support 1.2287 losing this one would mean that rebound from 1.2287 is already finished at 1.2624 and more loses toward - 38.2% projection…Continue
Precious metals started off the week with little movement despite their sharp rise during last Friday following the disappointing U.S employment numbers. The premise behind this speculation was that since the U.S economy is showing signs of slowdown, this could push the Fed towards issuing another stimulus plan, which will help rally gold and silver. This idea took a hit in the chin when…Continue
Added by Lior Cohen on June 9, 2012 at 10:18pm — No Comments
Oil prices bounced back from their tumble during the previous week. On Thursday Bernanke testified in the Senate; he voiced his concerns around the European debt crisis as it may affect the US economy but he didn’t said any new plans of another stimulus plan; he just kept the door open on QE3. This news may have helped drag down commodities prices including oil.
Added by Lior Cohen on June 9, 2012 at 10:16pm — No Comments
WHAT Forex Target Traders SEE: We are currently sitting @ 1.2501. We can clearly see a 5 wave downward movement is completed and should see a abc correction to the upside. I like a movement to the .214 Fibo @ 1.2711 and then get bearish. We could also range this week which would shorten the range to the .382 Fibo @ 1.2620. …Continue
Added by Scott Barkley on June 9, 2012 at 4:10pm — No Comments
Added by Ron Schelling on June 9, 2012 at 10:20am — No Comments
Currently KIWI is @ 0.7640 on the trend wall - Decision time. Bounce to the 0.7833 double top or break down to 0.7552 .786 Fibo Target.…Continue
Added by Scott Barkley on June 8, 2012 at 1:24pm — No Comments
After yesterday's short lived Bullish Sentiment, market retraced back most of the earlier gains--thanks to Fitch's rate cut of Spain to BBB. As per my expectation, market is in now larger corrective mode and waiting for further bad news as a trigger to the downside.Continue
EUR/USD continues falling and is now below low support, following the rising uncertainty about the Spanish banking system. The euro-area’s fourth largest economy could be a favorite to win another European trophy in football, but its economy is an a race to the bottom. Spain is waiting for an external report on the banks and is unwillingly making a U-turn regarding external aid. This move continues Bernanke’s refusal to hint on QE. He even said that there are “diminishing returns” on this.…Continue
Added by Yohay Elam on June 8, 2012 at 12:58pm — No Comments
The EUR USD squeeze worked out nicely overnight while the SPX held critical support in spite of the pressure in the Asian and European sessions. I still like the set up for a snap back rally in NY.
Added by JT on June 8, 2012 at 12:06pm — No Comments
crazy!... who are the victims here?
Testimony wraps in Beckman Ponzi trial
By John Welbes
After a 24-day marathon trial, closing arguments will be heard Thursday, June 7, in the $194 million Ponzi scheme case against Jason "Bo" Beckman, Gerald Durand and Patrick Kiley.
The evidence portion of the case concluded quickly Wednesday…
The EURUSD corrected higher yesterday , topped at 1.2623 and closed at 1.2567, then declined in asian session this early morning and broke below 1.2500 levels , tested 1.2480 support...
Today I assume a bearish move testing the key support 1.2480, a clear break below this level would test 1.2440 support zone, losing this one would bring strong bearish move towards 1.2350 ..
Immediate resistance is seen around 1.2540 where bounce back to downside is expected, a clear break above…Continue
The 21 day emas will tell the tale
Added by JT on June 8, 2012 at 1:25am — No Comments
Six German banks were downgraded just couple of days ago when Euro almost ended it's impulsive downside move. Many expected EURUSD to hit 1.20 level before any rebound; however, market does exactly what the order volume dictates. Syndicate profit taking triggered at 1.23 Level which was the highest Volume at the Distribution phase and the beginning of the new Accumulation Phase--thanks to the NFP Data. A bullish sentiment has been created in the market by the first impulse from 1.23 level…Continue
Added by fx-Syndicate on June 7, 2012 at 3:00pm — No Comments
Currently we are @ 1.2593 after hitting our target @ 1.2559. We should see a continuation to the 1.2695 R5 Target IF we get break of the .382 @ 1.2622. A breakdown at the 1.2695 would target a move back to 1.2531 and then the bounce.…Continue
Added by Scott Barkley on June 7, 2012 at 1:51pm — No Comments
Euro bounce from 1.2440 (yesterday's low) now is extended around 1.2620, 1.2620/30 is strong resistance for short continuation. Closing daily candle above 1.2630 shows that most likely deeper correction at least to 1.2800 level is under way. For me this move is unlikely at this point and, My recommendation is selling euro at current levels with stops above 1.2670 and targets below 1.2500 albeit it could be tested tomorrow.
GBPYEN call from May 31 has been successfully met the final target for 440 pips as shown on the second image. Syndicate Volume at this momentum is not quite strong; however, the pair can reach up to 125 area before starting the larger correction downside. We have not received any fractal corrective pattern as a…Continue
CFTC Orders Nevada Resident Luis Salazar-Correa and His Company, Prosperity Team, LLC, to Pay More than $2.6 Million to Settle CFTC Anti-fraud Forex Action
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today filed and simultaneously settled charges against Luis Salazar-Correa of Las Vegas, Nev., and his Nevada-based company, Prosperity Team, LLC, for…
Added by Francesc Riverola on June 7, 2012 at 10:45am — No Comments
EUR/USD is trading higher, in anticipation on some solution for Spain and hopes for hints about more QE in the US. As widely expected, the ECB did not lower interest rates on Wednesday. The markets were hoping for a reduction of 0.25%, although few were surprised that rates stayed put. After the interest rate decision, ECB head Draghi again called upon the EZ governments to take…Continue
Added by Yohay Elam on June 7, 2012 at 10:06am — No Comments
The EURUSD corrected higher yesterday , bottomed at 1.2440, topped at 1.2584 and closed at 1.2574...
Today I assume a bearish move testing the key support 1.2540 a clear below this level would lead for more loses testing 1.2500 levels..
Immediate resistance is seen around 1.2600 where bounce back to downside is expected , stability below the key resistance 1.2625 is indeed to keep the bearish scenario suggested for today valid , a clear break above 1.2625 would mix up things…Continue
The high point for euro i expect to reach today is around 1.262. Then there should be some kind of corrective second leg, downwards towards 1.24 but not lower than its recent dip. After a quick fall towards 1.24 from 1.262 today or tomorrow probably, it will continue to rise towards 1.30's contrary to the adverse economic condition euro is in.
The euro breaker is greece elections. Before that, euro should rise. If the greece elections never had to happen, 1.228 would be the ultimate…Continue