EURJPY

After peaking at 103.50 about a week and a half ago, the EURJPY has formed two N waves down which is leg 6 of the wave count.  This is hinting there is likely another leg down and the price action confirms that with the last pullback being corrective.  Also, the chikou is below the price line, and there is a thick kumo ahead, so watch for a potential strong downward …

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on Daily we're in downtrend channel and below 200 Day SMA. I've…

GOLD:  While GOLD may be digesting its recent gains, it continues to hold on to its medium term uptrend. However, we think the commodity should eventually recapture the 1,790.20 level on ending the mentioned consolidation. Above here will aim at the 1,800.00 level where a violation will call for a push further higher towards the 1.850 level. The alternative scenario will be for the commodity to return to the 1,700.00 level and then the 1,676 level. We expect this levels to provide a strong…

If you want to know more about the current situation in Catalonia and how distressful our future will be without our big owner Spain, read this.... I could not have said it better :)

Francesc

The Pursuit of Happiness

Written by Xavier Sala i Martin

Possessive husbands tend to react predictably when their wives ask for a divorce:…

GBP/USD was marked by a quiet week of trading. The pair dropped slightly at week’s end, closing in the mid-1.61 range. The upcoming week is quite busy, with 10 events. Here is an outlook of the upcoming events, and an updated technical analysis for GBP/USD.

UK data was very close to the market forecasts. In the US, the numbers were mixed – housing figures were…

GBP/USD was marked by a quiet week of trading. The pair dropped slightly at week’s end, closing in the mid-1.61 range. The upcoming week is quite busy, with 10 events. Here is an outlook of the upcoming events, and an updated technical analysis for GBP/USD.

UK data was very close to the market forecasts. In the US, the numbers were mixed – housing figures were…

EURUSD: A second consecutive week of declines saw the EUR even more vulnerable to the downside with eyes on the 1.2753 level. A clearance of here will open the door for a run at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair back off lower prices and target the upside. However, if this fails to happen Further declines will aim at the 1.2442 level. Its weekly RSI has turned lower supporting this view. On the other hand, the pair will have to…

EUR/USD trend turned last week, see red color bar at the bottom.

Only a close (NY) next week aboven 1.2960 can change the trend.

  Two ways exist to look at a currency price within the four moments of a distribution of prices on a curve; Standard deviations and logarithms. Four moments? Yea: averages, variances and standard deviations, skews and peakedness of tops in bell curves and kurtosis.

  Yes you see what most look at in a chart is prices therefore they are called price charts. But those prices are straight market prices, nothing sugar coated in that assessment. A time once existed when Logarithm…

The European Central Bank's new headquarters, scheduled to be completed in 2014, will cost a lot more than expected, a top ECB official has admitted.

    EUR N USD :::

As shown on the daily chart posted below, the EURUSD is in consolidation mode- in medium term - after losing the key support 1.2940 which is served now as resistance!

A clear break with stability above 1.2940 would be a sign of very persistent bullish momentum, and then price action is testing 1.3075/1.3170 levels A.S.A.P!

But in return, a clear break below 1.2815 would delay the bullish move and extend the consolidation toward the key support 1.2685;…

Euro/dollar lost ground for a second week in a row, as Spain’s issues worsened. Also Greece isn’t doing that well, and the global slowdown also takes its toll. The upcoming week is the first for the last quarter of the year, and it features many events. The rate decision is the most important one. Here is an outlook for the upcoming events and an updated technical analysis for…

Let's do less talking and more rock n' rolling charts starting with the weekly:

Beside the 38.2% fib retrace of the move down on the weekly charts we have also a nice three inside down bearish reversal pattern on weekly charts. And until the price don't break the 1.3485-1.3490 zone we are still having…

Precious metals zigzagged throughout the week with an unclear trend despite the deprecation of the Euro and other "risk currencies" during last week. There were several reports that were published during the previous week: the U.S GDP growth rate was revised down to 1.3%;…

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.2851 after bouncing on the 0.786 Fibo.  It is quite possible that we have put the bottom in but that is a very cautious position at this point so will not rule out a greater fall.   A break north target the 5^th wave R6 @ 1.3111 then the 1.270 fib extension @ 1.3283 with the 1.3426 as the outer target.  A break south - target the 1.2759 area. The average daily true range (ATR) for the pair currently…

Forex or currency trading is not buying and selling stocks and shares. It’s a different ballgame for me – a bit like comparing cars – ie a Ferrari and a Ford Bronco. They both have four wheels and an engine and seats and are designed to take you from A to B. However as any car enthusiast will tell you – they are so different a bit like “chalk and cheese”.

Talking of “chalk and cheese” or yin and yang  - we all will have different views and ideas about how we can tackle this…