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
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
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. …Continue
Added by Scott Barkley on June 27, 2012 at 1:17pm — No Comments
As you all know (think), the most important event that will be discussed tomorrow is debt crisis , but I believe European Council will be focusing on something completely different , which is the situations in the middle east , especially Egypt after the victory of Islamic parties in the presidential election ...
I think one of the dangerous things that might happen , and It might effect the EURO directly ; There is fear about the future of the European…Continue
I've received many comments lately regarding our decision to ban a well-known user from the network for misbehavior.... some of you fully support the measure, some just do not care some are pretty angry to us.
I would like to share with you all what I told those that approached me through private messages: This is a community of Forex traders... we all share a passion here, that it is Forex trading.... some of us are newbies, some have some experience, some are very…Continue
After climbing for almost two sections (17 in ichimoku number theory), the Euro failed to continue gaining, telling us this recovery had little underpinning to it. The Chikou not only found resistance at the price line (bearish), but also found resistance at an area where it once held as support. It still has yet to clear the price line, which is one of the few majors failing to do so. That plus the strong Kumo ahead, along with the…
Added by Ron Schelling on June 24, 2012 at 11:09am — No Comments
Euro/dollar reached out to new highs after the Greek elections but couldn’t hold on to them, eventually ending lower. The EU summit is the main event of a busy week, and hopes are high. Will we see another disappointment that will send the pair lower? Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.
Spanish yields made new records and they…Continue
Added by Yohay Elam on June 23, 2012 at 6:04pm — No Comments
EUR/USD fell to support and stalled for a while. It now resumes the downfall. It took the markets some time, but they finally digested that the Federal Reserve is no rush to print. This is also felt in a breakdown of oil price. The global slowdown is helping the dollar. In Europe, the assessment about Spanish banks’ needs seems short of mark, and so does the highly discussed German…Continue
Added by Yohay Elam on June 22, 2012 at 7:35am — No Comments
I was planning on continuing with part 2 of the Best Support & Resistance levels article, but someone came to me with the following question just yesterday;
Do you know about 'binaural beats' and if so, would you comment on their possible uses regarding…Continue
After forming an inverted pin bar on approach to .8000, the Kiwi followed with a large bearish engulfing bar giving a kiss off the round number, then selling off over 140pips for 8hrs straight. This single engulfing bar took out the last three days of gains, reminding us the downside still has far more teeth then the…
Added by 2ndSkiesForex on June 21, 2012 at 10:55pm — No Comments
The beast (otherwise known as the GBPJPY pair) has gained 10 out of the last 12 days communicating the bounce off the lows has some decent buying behind it. What is interesting to me from an Ichimoku perspective is how 3 of the last 8 days the dips touched to the pip the daily tenkan line, finding support there and closing higher off each…
Added by 2ndSkiesForex on June 19, 2012 at 10:34pm — No Comments
EUR/USD continued its gradual rise and is now battling strong resistance. There are reports about secret polls in Greece which point to a victory of the pro-bailout New Democracy party. This speculation could eventually turn into a short opportunity as results emerge early on Sunday. Yet again, US figures weren’t so good, but not enough for QE3. Also the ECB isn’t likely to move.…Continue
Added by Yohay Elam on June 15, 2012 at 8:44am — No Comments
I feel eurusd has regular bearish divergence and strong resistance @1.2680 and email@example.com
below 1.2680 resistance,my main bias is downside towards 1.2350 and 1.22
and if eurusd pair breaks above 1.2680 then pair may test targeting level @1.30
above analysis complete…Continue
Added by nidhi mistry on June 15, 2012 at 7:54am — No Comments
Instead of writing my usual post about trade setups, I thought I'd write something different for two reasons;
1) I really didn't like anything going into the Friday before the Greek elections which could get really ugly
2) I wouldn't want to be holding any Spot positions going into tomorrow's London session since the markets now rumor driven
So what I decided was to talk about an alternative to playing a spot position going into this…Continue
SYMPTOMS (some or all of the following):
• WATERY EYES
• MUZZY HEAD
• POSSIBLE DIZZINESS
• LACK OF CONCENTRATION
• DISTURBED SLEEP
• LACK OF INTEREST IN STANDING UP (POSSIBILITY OF FALLING OVER)
I feel audusd has formed head and shoulder pattern and elliott wave counting shown in below charts.
pair is in correction abc and strong resistance drawn in 4hr chart
4 hour charts…Continue
Today I am going to give a lesson on how to find some of the best support and resistance levels in the market. If I had to say - I think there are three types which are the best support and resistance levels you could find. But it would take a long time to go into each type, what are the characteristics of each, what they mean from an order flow perspective, and how to trade each type.
So I am going to cover in today's lesson, what are some of the most critical variables to…Continue
The EURUSD continued its unclear direction yesterday, topped at 1.2528 , bottomed at 1.2441 and closed at 1.2500...
Today I assume a bearish move testing the key support 1.2470, a clear break below this level would lead for more loses testing 1.2440/400 zone...
Immediate resistance is seen around 1.2520 where bounce back to downside is expected , stability below the key resistance 1.2570 is indeed to keep the bearish move suggested for today valid, breaking of 1.2570 might…Continue