Euro/dollar closed the month with a bang, rising from the abyss to high levels as hope from the EU Summit took over any doubts. Are we set for more gains? Or will the rally fade out as in past summits. The rate decision is the main event of this week. Will the ECB finally cut rates?Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.
Added by Yohay Elam on June 30, 2012 at 5:52pm — No Comments
Measures announced by the European leaders after the summit in Brussels proved to be boon for Bulls waiting for their turn to respond to the ongoing Bearish spell and they returned to hit back the market with vengeance.
European announcement gave boost to the crude oil prices that surged by nearly 9.5 pct, global stock market jumped by 1.4 pct to 6.4 pct, gold gained by over 3 pct and Euro enjoyed 2 pct bull run during the…
What ProAct Forex Target Traders See: We are currently sitting @ 1.2655 just under the day chart trendline @ 1.2685. There is no real trend established and the latest move was fundamental in nature not technical. If we break the top we are bullish to the R5 @ 1.2784 and then the -0.618 fib extension @ 1.2871. A breakdown will target a move back to the .786 Fibo/ R1 @ 1.2468. We need a pullback to establish the uptrend so expect that to be built before a break of…Continue
Added by Scott Barkley on June 29, 2012 at 9:42pm — No Comments
As a trader I always keep reminding myself to be humble .
If you are too proud and overconfident, you will make mistakes leading to your defeat.
There is always another day to trade.
Be humble , patient and discipline = SUCCESS
Currently the pair is @ 1.5653 after the strong reversal last night. Today is week end, month end and quarter end so this could be a big day as traders try and pad their clients’ accounts before squaring up. BE CAREFUL! Look for the move to go to the resistance @ 1.5703 and maybe the R4 @1.5719.…Continue
Added by Scott Barkley on June 29, 2012 at 1:22pm — No Comments
EUR/USD leaped around 200 pips on the announcements made in the EU Summit. The decision to give an equal status to the bailout funds and avoid the scenario of the Greek subordination is definitely good news. The direct bank recapitalization decision is still full of holes, big ones. There are quite a few indicators on the agenda, but the EU Summit digestion and another topic rule…Continue
Added by Yohay Elam on June 29, 2012 at 10:26am — No Comments
Do you really want to make money in Foreign Exchange? really really?
Then forget all the crap around our industry - gurus, EAs, indicators, education, discipline, risk management.... forget it all!!!!
You just have to follow me... that's it!... guaranteed!!
I'm the best trader in the world, even though I have not placed a single trade in my life... how do I do it?
I just travel from time to time with my family... so the only thing you have to do is to follow…Continue
Italian 10 year govt bond yield 5.905%, off 29 bps
Added by nader on June 29, 2012 at 6:43am — No Comments
Once again, MahiFX.com doing a great job with infographics.... this company has brought fresh air to the Retail Forex industry with its informal way of doing things but at the same time extremely modern design.... this infographic shows different kind of trading styles and talks about a famous trader for each style covered .... as I said.... refreshing.
Charles-Henri Sabet, founder of Synthesis Bank and acquired by Saxo Bank, is now leading this new Retail Forex Broker and he knows the industry extremely good, so be prepared to hear more about this firm: JFX.com.
JFX.com‐ Jiffix Markets Ltd. In Cyprus strengthens its capital base and its Board of Directors.
Charles‐Henri Sabet, the founder of Synthesis Bank Geneva, at the…
Added by Francesc Riverola on June 28, 2012 at 5:30pm — No Comments
Gold and silver didn't do much yesterday as gold edged up while silver slipped. The rise in U.S pending home sales index and U.S core durable goods as indicated in their respective reports, may have contributed to the rise in stocks and commodities prices. The EU Summit will start today. If there will be big headlines coming out of the Summit, it could affect forex and commodities markets. I suspect it will…Continue
Added by Lior Cohen on June 28, 2012 at 5:02pm — No Comments
EURUSD has been in the downtrend since we projected on Jun 21st, the end of Elliotwave 4W correction and the breach below 200 Day MA. However, the downside momentum has been modest due to the Volume at the lowest Distribution level.
The downside projection continues with the final Elliot Wave corrective measure:…Continue
Added by fx-Syndicate on June 28, 2012 at 4:30pm — No Comments
Currently the pair is @ 1.0286 after bouncing on the trend wall. Look for the move to go to the R3@1.0303 and then the.385 Fibo area @1.0335.
Added by Scott Barkley on June 28, 2012 at 12:56pm — No Comments
EUR/USD broke out of yesterday’s (June 27th) narrow range, as the market mood soured prior to today’s EU Summit. The European leaders have plenty of pressing topics to discuss, starting with the alarming fiscal crises in Greece and Spain. As with other grandiose meetings, there is a lot of skepticism if any concrete measures will be announced. There was more bad news as German CPI…Continue
Added by Yohay Elam on June 28, 2012 at 10:19am — No Comments
After bouncing and continuing higher from the pin bar we mentioned yesterday, the 1hr chart on the Aussie looks like the bulls are squeezing out the bears trying to take out the short term resistance at 1.0089. Although the bounce off the oversold lows the other day has the presence of being more…
Added by 2ndSkiesForex on June 27, 2012 at 10:48pm — No Comments
Hi Guys - this is my first post - please feel free to comment on my chart, and i'd like to see your charts as well please - i took the trade short at 1.2508, with a stop at 1.2535, and exited near support at 1.2448, there seems to be strong support there on the 4 hour so i took off …Continue
Potential Shorts on all charts below: Picture Speaks Louder Than Words.
Added by fx-Syndicate on June 27, 2012 at 3:30pm — No Comments
if this is true, that's a fast growing market indeed!
GCC Forex industry doubling annually, says Dubai's Alpari ME DMCC
The online Forex and currency trading industry in the Middle East will continue its meteoric rise and grow at an exponential rate, doubling year on year said Iskandar Najjar, CEO of…
Added by Francesc Riverola on June 27, 2012 at 1:29pm — No Comments
Currently the pair is @ 1.5598 after breaking down from the wedge. Look for the move to go to the S4 @1.5546 and then the support area @1.5527.
Added by Scott Barkley on June 27, 2012 at 1:17pm — No Comments
For those of you who trade FX with ETF's.
ProShares, a premier provider of alternative exchange traded funds (ETFs), announced today the launch of ProShares Short Euro (NYSE: EUFX).…Continue
Added by Ron Schelling on June 27, 2012 at 12:54pm — No Comments