June 2013 Blog Posts (439)

GOLD: Sees Further Bearish Momentum.

GOLD: The commodity remains on the tear weakening further the past week and targeting further downside in the new week. This development leaves GOLD aiming at the 1,170.00 level where a  violation will turn attention to the 1,150 level. Further down, support comes in at the 1,100 level. Its weekly RSI is bearish and pointing lower supporting its broader downside. On the upside, GOLD will have to return above the 1,269.00 level and then the 1,321/38 levels to reduce its present downside…

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Added by fxtech on June 30, 2013 at 5:22pm — No Comments

vOLaTiLe wEEk aHEAd - $ tO sUrGe - jULy 1-5

Last week discussion on Fed’s asset purchase program dominated the market, as various FED officials (Voting – non-Voting members) trying to share their view point/understanding with the market through speeches, which had very little role to play to ease market sentiment. When FED Chairman has already spoken on the subject of scaling down with a clear view then listening to such speeches make little or no difference, as FED’s change in its stance is obvious. One thing is quite clear…
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Added by asad rizvi on June 30, 2013 at 4:00pm — 4 Comments

GBP/USD Outlook July 1-5

The US dollar continued to chip away at the pound last week, as GBP/USD dropped close to two cents. This week’s major events include PMIs and the Official Bank Rate, the first from new BOE Governor Mark Carney. Here is an outlook of the events and an updated technical analysis for GBP/USD.

It was a gloomy week in the UK. British Current Account, the only British…

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Added by Yohay Elam on June 30, 2013 at 9:49am — No Comments

Vatican EUR 20 million plot !

A Vatican cleric and two other people were arrested Friday by Italian police for allegedly trying to smuggle 20 million euros ($26 million) in cash into the country from Switzerland by private jet.

For more click on the picture.

(c)…

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Added by Ron Schelling on June 30, 2013 at 9:45am — No Comments

USD Index Spot (Not USDX Future)

The average of 6 major currency pairs against the USD.

Click on the chart for more.

Added by Ron Schelling on June 30, 2013 at 9:31am — No Comments

EUR/USD Forecast July 1-5

EUR/USD fell for a second week in a row as the euro surrendered to a strengthening dollar and speculation that the ECB might act. Will Draghi send the euro even lower? Manufacturing and services PMI’s, Inflation data, and the ECB’s rate decision are the highlights of this week. Here is an outlook on the main events ahead and an updated technical analysis for EUR/USD.

Draghi reiterated ,in a…

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Added by Yohay Elam on June 29, 2013 at 10:17pm — No Comments

USDCHF: Strengthens On Further Recovery.

USDCHF – As referenced in our previous week analysis, USDCHF strengthened further for a second week in a row leaving risk of more gains on the cards in the new week. If this occurs expect the pair to push higher towards the 0.9625 level where price hesitation may happen. However, if that level is broken, It will pave the way for a run at the 0.9720 level, represent its weekly 200 ema and then the 0.9838 level. Its weekly RSI is bullish and pointing higher supporting this view. On the…

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Added by fxtech on June 29, 2013 at 11:36am — No Comments

long term view of auduasd in terms of harmonic pattern

The long term condition of AUDUSD: http://prntscr.com/1cgf2e

Added by rajeeb saha on June 28, 2013 at 7:36pm — No Comments

DB plans 3 more FX Hedge ETF's

The three new proposed Deutsche Bank ETFs and their respective strategies are as follows:

  • db X-trackers MSCI Asia Pacific ex Japan Hedged Equity Fund, which will protect investors from a number of currency crosses with the dollar related to investing in developed as well as emerging market countries including Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Singapore, South Korea, the Philippines, Taiwan and Thailand
  • db…
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Added by Ron Schelling on June 28, 2013 at 6:42pm — No Comments

Market Reversal Levels ,Week of 01 Jul 2013

Important points and notes:



1- These levels are strong support and resistance levels on short term , the market usually respects those levels strongly.



2- I highly recommend using divergences techniques, to find possible turning point during the month !



3- The recommended time frame , the 1 hour and below.



4- You can also use chart pattern, candlesticks, trend lines and price action to find possible turning point!



5- These levels would help you…

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Added by Haitham653 on June 28, 2013 at 5:48pm — 3 Comments

BMO Capital Markets - USD underlying risks in the week to come still likely to emanate from yields, data

BMO Capital Markets - "broadly speaking, US data releases next week will continue to take a higher profile position for the FX markets than those from other geographic areas because of their links to the US the yield curve. We are again on the look-out for short-term directional opportunities in the USD, the CHF and the high-yield space in the week to come. In relative value terms we think there is more room for CHF downside than upside at present.

There is generally a lot at stake with… Continue

Added by Francesc Riverola on June 28, 2013 at 12:53pm — No Comments

$EURAUD- 5th wave?

Currently we are at 1.4170 on the R4 after breaking out of the wedge. As we expected we started the 5th wave to the top. We are looking for a continuation to the R5 @ 1.4316.  The average daily true range (ATR) for the pair currently is 214 pips.…

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Added by Scott Barkley on June 28, 2013 at 12:51pm — No Comments

EUR/USD June 28 – Steady as German Retail Sales Shines

EUR/USD is trading in the mid-1.30 range on Friday. In economic releases, German Retail Sales and French Consumer Spending easily beat their estimates. However, French PPI was well below expectations. US releases continue to be positive, as Unemployment Claims were very close to the estimate and Pending Home Sales sparkled, hitting a multi-year high. Today’s highlight is US UoM Consumer Sentiment…

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Added by Yohay Elam on June 28, 2013 at 9:23am — No Comments

UBS - EURUSD Bearish. With the MAD below its zero line, potential is for further downside

UBS - "EURCHF Bearish. Any upside should be limited with a strong resistance at 1.2384. Support is at 1.2278 ahead of 1.2196

EURGBP Neutral. The cross again bounced from the support at 0.8475. Resistance is at 0.8607 ahead of 0.8656. A closing break below 0.8475 would be negative opening 0.8398.

EURJPY Neutral. Resistance at 130.43 holds the upside move. A break above this would open 133.80. Support is at 124.72; a closing break below this would be negative.

EURUSD Bearish. With…

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Added by Francesc Riverola on June 28, 2013 at 9:05am — No Comments

Deutsche Bank - US Data Turning Up, Rate Spreads Moving Against Euro

Deutsche Bank - "Now that the dust has settled after last week’s FOMC meeting, various market overshoots from position squeezes are correcting themselves. One of the most notable overshoots was the sell-off in front-end euro rates, which resulted in euro yields moving higher than US yields, despite more hawkish Fed talk.

This is now reversing, and so rate differentials which were providing support for the euro are longer doing so. What has helped has been a turn higher in US data…

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Added by Francesc Riverola on June 28, 2013 at 8:57am — No Comments

Dow Jones trades at resistance !

The Dow Jones corrected higher this week, after bottoming at 14542 levels, now pressure will be on the key resistance 15056, the Dow Jones with have to hold above the 15056 on a daily closing basis, to push the market for further upside gains,if seen, it will target the 15350 levels where a breach will turn focus on the 15550.

Alternatively, a failure to hold above the 15056 levels could mean a return to the 14542 where a breach will look for the 14340…

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Added by Haitham653 on June 28, 2013 at 8:15am — 1 Comment

Elliott Wave Count On GOLD: Correction Is Expected

GOLD has extended its losses in the last few sessions slightly through 1200 level and found latest support around $1180 where its 161.8% extension of a black wave 1 measured from wave 2 highs. From Fibonacci and Elliott Wave predictions that’s an ideal zone for a completion of a black wave 3 especially if we consider  five waves down from 1423. As such, traders should be aware of a corrective rally in days ahead, in wave 4 back to 1270.

Gold 4h…

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Added by Gregor Horvat on June 28, 2013 at 8:07am — No Comments

EUR/USD Short but not Long

USD remained Strong on Thursday as it gained against major currencies pairs. Late NY and Asian Open did see some retracement indicating lose of momentum. Expect USD to remain strong for most part but will lose some momentum as weeks wraps up.

EURUSD remains below 1.30 levels thus retains it bearish sentiment. With overall Strong USD expect EURUSD to test 1.29 as the week wraps up

For Intraday trade traders Buy USD against most pairs but be cautious as USD Strength may drain out…

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Added by Sardar Uddin on June 28, 2013 at 8:02am — No Comments

USD/JPY DAILY as of Friday, 28 June, 2013

A Daily white body has formed (because prices closed higher than they opened).

For the past 10 Daily candlestick bars as of 28/06/2013, there are 8 white candles versus 2 black candles with a net of 6 white candles.

For the past 50 Daily candlestick bars as of 28/06/2013, there are 27 white candles versus 23 black candles with a net of 4 white candles.

MACD is currently BULLISH. The MACD is currently above the…

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Added by Martin Kay on June 28, 2013 at 7:13am — No Comments

EUR/USD & GOLD forecast 28.06.2013

EUR consolidated the whole day yesterday, today's morning started with a jump to the resistance area 1.3075 where SMA200 passes, this won't be broken so easily, but the EUR seems prepared to give it a try at least. Support can be found at 1.3030 and then at 1.2990, followed by 1.2960. Today is the end of the week and end of the month. There is plenty of data, but not of great importance. However i expect the EUR to try reaching 1.3120, but i can't say will it be successful. I expect a high…

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Added by Vladimir Mihaylov on June 28, 2013 at 6:57am — 1 Comment

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