EUR/USD is now trading under resistance, in the levels it fell to after the Slovak PM said there’s a 50/50 chance of a euro breakup. The focus will shift away from Europe now to Jackson Hole, where Bernanke will deliver a highly awaited speech. Expectations for QE3 hints are now lower, so any talk of new easing could hurt the dollar. If Bernanke says nothing, the pair could lose uptrend support. A…Continue
Added by Yohay Elam on August 31, 2012 at 8:38am — No Comments
The EURUSD was unable to maintain its bullish move yesterday capped by short term top at 1.2589 ?!!
Today I assume a bearish move testing the lower line of the bullish channel around 1.2460/40 zones, a clear break below this level would lead for massive bearish move and might end the current bullish correction .
Immediate resistance is seen around 1.2520 where bounce back to downside is expected , stability below the key resistance 1.2589 is indeed to keep the…Continue
With all eyes on Bernanke and the Jackson Hole speech tomorrow, I do not think its prudent to be giving any trade recommendations (or taking any new positions) till after the announcement with most traders/investors on the sidelines.
Thus, I wanted to do was share an email exchange I had with one of my students which I thought would be really helpful for those struggling with the learning/trading process. Many traders either now or in the past, have gone through a similar…Continue
Added by David Pegler on August 30, 2012 at 10:16pm — No Comments
Added by Francesc Riverola on August 30, 2012 at 4:48pm — No Comments
EUR/USD continues to trade in a narrow range, as the markets await for Fed Chair Benarnd Bernanke to address the Federal Reserve Annual Symposium at Jackson Hole on Friday. With ECB head Mario Draghi a late no-show, Bernanke’s speech promises to be the highlight at the annual meeting of central bankers, particularly with renewed speculation over QE. Will Bernanke have any surprises up his…Continue
Added by Yohay Elam on August 30, 2012 at 10:25am — No Comments
Since my last forecast EUR has made some more progress to the upside but stopped @ 1.2589 and that level is not passed in the second attempt also. This is because there are no any significant news to support the EUR or to weaken USD. We have a flat consolidation within 100 pips range. Some analysts have said the EUR will soon go south in searching better long positions, but i do not expect to fall beyond 1.2460, maybe even 1.2485-90 will hold as the market is very cautious and any fall is…Continue
Added by Vladimir Mihaylov on August 30, 2012 at 4:44am — No Comments
As the snoozefest continues with investors pulling out prior to the Jackson Hole meeting this Friday, breakouts are an endangered species till then while small ranges are dominating. Tis no surprise that an daily inside bar formed on almost everything, but the one that is more notable is the one on…
Added by 2ndSkiesForex on August 29, 2012 at 10:02pm — No Comments
A US Dollar Spot Index, based on 6 major pairs, showing still EUR strength on average in the last 2 months with only a little spyke in the beginning of August.
No reason to move into USD assets again before we see the 1e spike taken out.…Continue
Added by Ron Schelling on August 29, 2012 at 12:51pm — No Comments
EUR/USD is steady, as the markets anxiously await for Fed Chair Benarnd Bernanke to address the Federal Reserve Annual Symposium at Jackson Hole on Friday. In a late twist, ECB head Mario Draghi has decided not to attend the annual meeting of central bankers. Today’s releases include German Preliminary CPI, as well as two key US releases – Preliminary GDP and Pending Home Sales. Tuesday’s US CB…Continue
Added by Yohay Elam on August 29, 2012 at 10:34am — No Comments
As shown on the weekly chart , the pair started falling from 1.3550 levels , low of Sept 2011 , according to the weekly chart posted below , we need to watch the pair the next few coming weeks , I mean during next September we need to evaluate pair's activities on the weekly chart around 1.2700 levels, there's high opportunity to resume the long term bearish trend , but in return a clear break above 1.2700 levels on weekly chart might be a bullish reversal signal and the pair…Continue
There is lot of hope that Bernanke like past year will give fresh hint about the QE3 at Jackson Hole meeting titled “Monetary policy since the crisis”. The expectation is high, weakness of USD Dollar, strength of GOLD and mood of the market clearly indicates that the DOVES are driving the market and HAWKS preferred to stay remain on the sideline, this is evident from the market trading volume.
But the question I would like to ask is that why FED would fire its…Continue
Added by asad rizvi on August 29, 2012 at 3:41am — No Comments
EURUSD NEUTRAL The pair is currently trading just above support at 1.2457 - a decline through this would open 1.2375. Resistance is at 1.2536 ahead of 1.2595.
Added by Francesc Riverola on August 28, 2012 at 2:33pm — No Comments
The EURUSD corrected higher last week, topped at 1.2589, bottomed at 1.2294 and closed at 1.2504!!
So far, the bias remains neutral in short term, immediate support is seen around 1.2460/40, a clear break below that level could be a threat to the bullish correction and might trigger further weakness testing the lower line of the upward channel!!!
On the upside, a clear break above 1.2550 zone could trigger further gains testing 1.2625/50 zone!!!
Conclusion : EURUSD’s…Continue
Dear Buyer, Seller, and Analyst,
While you guys were busy arguing about the direction of price, I cashed in my profits!
The European currency was able to finish the week with its highest closing since July 03. Ten-year Spanish and Italian bonds' yields made further gains during the week and gold continued its 7th day of bull run, gaining another $55 to close at a nearly five-month high of $1670. In the last three months' gains on hope of QE3 have pushed global equity market higher by over 5 percent.
The current stability in the European market is based on expectations in…
Added by asad rizvi on August 27, 2012 at 1:22am — No Comments