GOLD: With the commodity unable to create a clear directional move, its preceding trend continues to dominate. Support lies at the 1,291.12 level. A violation of here will aim at the 1,250.00 level. A turn below here will turn attention to the 1,215.00 level and next the 1,180.00 level. Conversely, resistance lies at the 1,399.79 level. A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level with a breach…Continue
Added by fxtech on September 30, 2013 at 8:31pm — No Comments
Defensive trades, lock and load
Markets are more or less likely to price in a partial shutdown all day, with chances of that happening to increase over the weekend.
With increasing uncertainty over Italy’s politics, boosted by the resignations of five high ranking G-men leaving and the coalition at high-risk of dissolving, I am betting on a defensive Asian open.
Let's get down to business.
In terms of direction moves, the budget…Continue
Added by Hedgeson on September 30, 2013 at 3:13pm — No Comments
Are you trading US stocks futures and wondering which market you should trade? Well, if you are interested in long set-up, to stay with a trend, then NASDAQ should be the best choice if we consider that S&P500 and DJIA are much lower. In fact, on NASDAQ we see a nice three wave pull-back from latest high which looks like a corrective retracement within a larger uptrend. Break of that upper channel line should put new high back in play.
Added by Gregor Horvat on September 30, 2013 at 2:30pm — No Comments
Currently we are at 0.8297 after the bounce on the trend wall. This is a 2 part trade opportunity. 1) We are looking for a bullish continuation to the R6 @ 0.8335 and 2) the next target the top @ 0.8395/0.8400. The average daily true range (ATR) for the pair currently is 83 pips.…Continue
Added by Scott Barkley on September 30, 2013 at 12:42pm — No Comments
...However we are closing in on a two and a half year trend line now, as we start to become overbought on the daily & weekly chart - so perhaps it is time to book profits and see if the market hits profit taking at this stage.
Added by Jason Sen on September 30, 2013 at 10:07am — No Comments
...but fails here & falls back quite quickly. The short term & long term bear trend still dominates. Note how we have failed to close above the 100 day moving average (at 1340 today) for 6 sessions & failed to hold above here today.
Added by Jason Sen on September 30, 2013 at 10:01am — No Comments
Added by Jason Sen on September 30, 2013 at 9:30am — No Comments
Good day. we have a new story to talk about " US shut down"..It is month end and new month beginning time - the market is expected to make volatile moves - monthly trend reversal moves.
I have explained the expected market moves- forecast and the levels the majors could show in this week Today (30 september) during my " Asian session: Live market analysis " webinar..
The recording of the same is available in the given below link:
Added by Dr. Sivaraman on September 30, 2013 at 8:37am — No Comments
The AUDUSD maintained some bearish momentum last week , now pressure will be on the 0.9276 levels.The AUDUSD will have to hold below the 0.9284 levels on a weekly closing basis to push the market for further downside losses, If seen , It will confirm short term topping and flip bias back to the downside for retesting the 0.9068 levels , a breach will turn focus on the 0.8891 levels further downside will aim the 0.8847 levels.
Alternatively, a failure to hold below the 0.9284 levels on…Continue
Added by Haitham653 on September 30, 2013 at 7:31am — No Comments
The GBPUSD maintained some bullish momentum last week , printed a new support at the 1.5954 levels, this development leaves the pair targeting the 1.6250 levels where a breach will turn focus on the 1.6396 levels, further upside will aim the 1.6615 levels.
On the downside , losing the 1.5954 levels on a daily closing basis will confirm short term topping and flip bias back to the downside towards the 1.5716 levels, further downside will aim the 1.5552 levels.
In all, the GBPUSD…Continue
The USDJPY continued its consolidation phase last week, a weekly close above the 99.27 levels is likely to add pressure on the 100.86/101.52 levels, to resume rise from the 95.80 levels , the pair needs to clear the 101.52 levels to open 103.73 levels, a breach will have large bullish implication towards the 108.21 levels, further upside will aim the 112.30 levels.
On the the downside, stability below the 99.27 levels , will confirm rejection from the 101.52 levels,and It's likely to…Continue
Added by Haitham653 on September 30, 2013 at 7:07am — No Comments
Added by Jason Sen on September 30, 2013 at 6:53am — No Comments
MARKET UPDATE 30.09.13
EUR/USD: Sell Below 1.3500,TP1.3460/30,SL1.3530,BOB1.3540
GBP/USD: Sell Below1.6165,TP1.6125/6100,SL1.6190,BOB1.6200
GOLD: Buy above1336,TP1342/45,SL1330,andBOS 1328
#CL: Sell Below 101.75,TP101.25/101,SL102.10,BOB102.20
USD/JPY: Buy above 97.80,TP98.25/50,SL97.50,BOS97.43
EUR CPI Flash Estimate 2pm, US Chicago PMI 6.45pm
Sideways trading for today and tomorrow with possible upside attempt from 1.3450 for 1.3610 and above. Then close to Friday reverse to the downside maybe 1.3360 or below depending on economical data.
LONG EUR above 1.3450 SL 1.3435 TP 1.3560-1.3610-1.3660
SHORT EUR below 1.3430 SL 1.3450 TP 1.3360 and below
SHORT GOLD below 1325 SL 1330 TP 1300 and below
LONG GOLD above 1352 SL 1346 TP 1385-1400 and above
The GBPUSD continued its bullish momentum last week , but was rejected from the key resistance 1.6154, now pressure will be on the 1.6154 levels.
The GBPUSD will have to hold above the 1.6154 levels on a weekly closing basis to push the market for further upside gains,If seen ,It will target the 1.6396 levels where a breach will turn focus on the 1.6440 levels, further upside will aim 1.6750 levels.
Alternatively, a failure to hold above the 1.6154 levels could mean a return to…Continue
Added by Haitham653 on September 30, 2013 at 5:58am — No Comments