When I moved at the end of last week I did not lose anything of significance but I did lose opportunities during and after the move, both in terms of business and personal. My last living situation was seemingly nice on the outside, a pretty decent house with lots of light, in an okay neighborhood, but it was far from ideal because I was at odds with it, with no one to blame but myself; my current situation is far from ideal as well, but it gives me the peace I need to make better decisions.…Continue
Added by Jason Justin Macko on October 31, 2013 at 10:55pm — No Comments
CRUDE OIL: Weakens, Eyes Further Downside
CRUDE OIL: With the commodity remaining weak and vulnerable to the downside, further weakness is expected. This leaves the risk of a return to the 95.95 level on the cards. A breach of here will turn attention to the 95.00 level followed by the 94.00 level and then the 93.00 level. Its daily RSI is bearish and pointing lower suggesting further downside. Resistance is seen at the 98.29 level where a violation will aim at the 100.00 level…Continue
Added by fxtech on October 31, 2013 at 10:01pm — No Comments
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S&P Futures reversed lower in the last 48 hours from 1773 through the channel support line connected from waves (ii) and wave (iv) swings. That's a very important evidence for a completed five wave rise and a temporary change in trend. We know that after every five waves market will reverse in minimum three legs. With that said, we believe that S&P Futures is now in pull-back; (a)-(b)-(c) back to 1740-1730 swing low from previous fourth wave. We could again turn bullish after a…Continue
Added by Gregor Horvat on October 31, 2013 at 3:02pm — No Comments
Not too much time to write here, I am long on both of these currency pairs, from more than a week ago on USDCHF - which has been under water till this morning, and my NZDCHF which dipped yesterday uncomfortably below 0.74 but moved back up since the FOMC meeting. I am…Continue
Added by Jason Justin Macko on October 31, 2013 at 3:00pm — No Comments
Currently we are at 94.03 trading in a big sideways move. We are looking for a bullish continuation to the Resistance area @ 94.70. The average daily true range (ATR) for the pair currently is 88 pips.
Added by Scott Barkley on October 31, 2013 at 1:13pm — No Comments
Added by Jason Sen on October 31, 2013 at 10:16am — No Comments
The Federal Reserve left its policy unchanged and maintains the current pace of bonds buying at $85 billion per month as they are still waiting on more evidences of economic improvement and stability. The USD was higher after the statement, but nothing significant and decisive yet.
The EURUSD touched 1.3700 but decline on the intraday charts cannot be counted impulsively, so we are still observing an a)-b)-c) retracement with possible ending diagonal at the end of the pattern. We…Continue
Added by Gregor Horvat on October 31, 2013 at 10:04am — No Comments
Recommendations: SHORT positions below 1.3740 with 1.3685 & 1.3650 as next targets.
Alternative scenario:The upside breakout of 1.3740 will call for a rebound to 1.3770/810 .
Description:As long as the pair trades below 1.3740, It will remain under negative pressure with risk towards the 1.3685 ahead of 1.3650 levels, below 1.3650 would open 1.3615 ahead of 1.3567 levels.On the upside , break of 1.3740 on hourly basis would only…
MARKET UPDATE 31.10.13
EUR/USD: Sell Below 1.3710, TP1.3675/60, SL1.3735, BOB1.3738
GBP/USD: Sell Below 1.6022, TP1.5985, SL1.6040, BOB1.6050
GOLD: Sell Below 1338,TP1330/27,SL1343,BOB1345
CL: Buy Above 96.35,TP96.80/95,SL95.95,BOS 95.90
USD/JPY: Buy above 98.25,TP98.50/73,SL97.95,BOS,97.90
BOJ Press Conference tentative, Unemployment Claims 5.30pm
BOB stands for break out buy and BOS stands for Break…Continue
Added by Carol Harmer on October 31, 2013 at 6:08am — No Comments
*** Intra-Daily Trading Strategy: BUY British Pound / US Dollar
Buy Target: 1.6046
Buy Stop: 1.6001
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…Continue
Added by Martin Kay on October 31, 2013 at 4:13am — No Comments
Added by muthusamy perisamy on October 31, 2013 at 3:35am — No Comments
Added by muthusamy perisamy on October 31, 2013 at 3:34am — No Comments
As eyes turn to America, the economic barometer for the world, it’s make or break time for the DOW as it inches closer to the 15693 –a level which marks the top of an unbroken six month long range. Oh, and it's also a level which represents an all time high! Today’s daily bar has closed as a seller bar. Not quite the train track reversal bar as hopes, but proof that sellers are coming into the market.
So where does this leave the FTSE? Well, it’s closed as a high test bar this…Continue
Added by The Lazy Trader on October 30, 2013 at 11:00pm — No Comments
A decline in commodity prices and narrowing yield spreads could see the Australian dollar lose up to a quarter of its current value by 2016, according to a foreign exchange strategist.
"If the U.S. tightens as expected and the Chinese economic correction continues to drag down commodity prices [the Australian dollar] will fall," Kit Juckes, global head of foreign exchange strategy at Societe Generale wrote in a note Tuesday.
A 25 percent decline in the Australian dollar would…Continue
Added by Ron Schelling on October 30, 2013 at 2:00pm — No Comments
Currently we are at 1.3765 after putting in a top. The Trend is your friend till it bends and we are bending. Look for the square up at 1.3710 as the next target down. The average daily true range (ATR) for the pair currently is 113 pips.
Added by Scott Barkley on October 30, 2013 at 1:03pm — No Comments
The USD is not showing any clear direction for the near-term. Most of the pairs are very slow and sideways. On EURUSD we however still anticipate a reversal to the upside, but would need to see an impulse up to 1.3810 to make sure that correction is complete.
Added by Gregor Horvat on October 30, 2013 at 10:30am — No Comments
GBPUSD: Continued weakness saw GBP extending its corrective pullback on Tuesday. This leaves the risk of further downside on the cards. Support lies at the 1.6000 level followed by 1.5950 level and then the 1.5900 level. Further down, support lies at the 1.5850 level and next the 1.5800 level. Conversely, resistance resides at the 1.6115 level where a violation will aim at the 1.6246 level. A breach of here will resume its medium term uptrend. Further out, resistance resides at the 1.6300…Continue
Added by fxtech on October 30, 2013 at 9:29am — No Comments