US Dollar Index: With the Index remaining biased to the downside, the risk is for it to return to the 78.53/60 levels. A violation of this level will call for a run at its psycho level at 76.00 level with a break of here turning attention to the 75.00 level and then the 74.00 level, all representing its psycho level. The alternative scenario will be for the Index to return to the 80.09/49 levels. Further out, resistance resides at the 81.18 level with a break above here allowing for more…Continue
Added by fxtech on December 31, 2012 at 7:05pm — No Comments
Currently we are at 1.6257 and have just broken out of the downtrend. The target is the 1.6300 after a pullback to the .382 Fibo @ 1.6216. The big target is the R5 Top at the 1.6450. The ATR (Average True Range) for the pair currently is 57 pips.…Continue
Added by Scott Barkley on December 31, 2012 at 5:31pm — No Comments
According to the most recent CFTC Commitment of Traders Report, traders previously and widely short Euros pared back the remaining bias ahead of the New Year. This has left the single currency widely neutral now, in line with the rest of US dollar bearish positioning.
Traders previously short the Euro pared back remaining positions ahead of the New Year, bringing the overall net position to neutral. Taking a look at data…
Added by Richard Lee on December 31, 2012 at 3:11pm — No Comments
The Australian dollar remains widely supported on the session, although slightly weaker against the US dollar, following signs that global manufacturing may be on the advance. The sentiment is bucking previous notions that the Reserve Bank of Australia may be required to continue their rate cutting scheme early next year – a great thing for the Aussie.
Chinese Manufacturing Support
According to the most recent HSBC/Markit Chinese…
Added by Richard Lee on December 31, 2012 at 2:49pm — No Comments
The EURUSD maintained a bearish momentum according to momentum indicators,and reversed risks to downside last week , this scenario suggests that rejection from the key resistance 1.3308 still in progress and might push the pair further lower,now pressure will be on the key support 1.3170, EURUSD will have to hold below 1.3170 on a daily closing basis to push the market for further downside losses, if seen this scenario could push the pair further lower towards 1.3030/1.2875…Continue
EURUSD bounced strongly from 1.2000 level in mid 2012 and extended well above falling trend-line of a corrective channel which puts pair to a temporary bullish mode. We believe that this recovery is just another leg within a wave B-triangle that is unfolding already since 2008 swing low. Ideally current wave E rally will complete the pattern around 1.3800-1.4500 area from where sharp fall could follow in wave C towards 1.1 level in late 2013.…Continue
Added by Gregor Horvat on December 31, 2012 at 2:43pm — No Comments
I have explained today during my webinar the expected market moves for this week.
The link for the video is given below:
The market is expected to be very qyuick and aggressive till mid January.Extended moves could be seen to attract margin calls…Continue
Added by Dr. Sivaraman on December 31, 2012 at 10:53am — No Comments
EUR/USD has edged lower, and dropped below the 1.32 line as US lawmakers have failed to reach an agreement on the fiscal cliff. Although talks between the Republicans and Democrats continue, the prospects of a last-minute breakthrough do not look good. The final US release of 2012 looked sharp, as Pending Home Sales jumped 1.7%, well above the forecast of a 0.3% decline. With the markets closed on…Continue
Added by Yohay Elam on December 31, 2012 at 9:33am — No Comments
The prices of precious metals edged down during the previous week. As the year is winding down, the clock is still ticking on the fiscal cliff. Up to now, the White House and Congress didn't progress towards a viable plan to cut the deficit in this decade. Last week, several U.S related reports came out last week: U.S new home sales increased in November, U.S consumer confidence slipped in December;…Continue
Added by Lior Cohen on December 31, 2012 at 8:54am — No Comments
Trade taken as price reached 78.6 fib level and channel support level also price reached at 1Hr support trend line, my first target would be 10 to 15 pips and will consider move SL to BE …Continue
GOLD TREND BULLISH.Moving Average & RSI Show Uptrend.
Gold Poised for 12th Annual Climb as U.S. Budget Deadline Nears
Elliott common flat correction up 1667.00
GOLD can move today 1651.00 to 1667.00 area.
Recommend buy at 1655.00 target 1660 & 1665 Stoploss 1651.00
Silver TREND BULLISH.Moving Average & RSI Show Uptrend.
Elliott flat correction up 30.29
Silver can move today 29.85 to 30.30 area.
Note : A break above 30.30 again…
Added by Naveed Anjum on December 31, 2012 at 7:43am — No Comments
ASSALAM O ALEIKUM my dear fellows
first of all thanx to dearest and alimighty ALLAH
trend is bearish …Continue
Early indicating prices in the Forex market courtesy of Forexlive.com showing EUR/USD 1.3212, USD/JPY 85.80, GBP/USD 1.6170,AUD/USD 1.0365, NZD/USD 0.8195. So the market is a little bit down from Friday already. Further uncertainty towards the day will only help the slide down. If we get a down Asian session it would probably be a good indicator for the European and American session. S&P 500 is also a good…Continue
Added by Jonas Manalang on December 30, 2012 at 9:04pm — No Comments
GBP/USD showed some movement, but for the second straight week, the pair was unchanged at the close of the week, ending the trading week at 1.6152. Manufacturing, Services and Construction PMIs are the highlight of the week. Here is an outlook of the events and an updated technical analysis for GBP/USD.
The only UK release last week was within expectations, and US key data was…Continue
Added by Yohay Elam on December 30, 2012 at 8:12pm — No Comments
GOLD: Though closing flat the past week, GOLD’s broader outlook remains lower on further weakness. It now targets the 1,640.45 level with a cut through there allowing for a push further lower towards the 1,600.00 level. A respite is likely to occur here and turn the commodity back up. However, if that level fails, further declines should follow. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, a return above the 1,672.23 level must occur to halt its present…Continue
Added by fxtech on December 30, 2012 at 5:57pm — No Comments
The 4hr setup in chart 1 where price is being resisted at 61.8 fibonacci level. If this resistance level is successful, then I will go short at market open with my take profit at 1.3148, around 121.4 fib level, the 17th December low and 38.2 fib level on the daily chart
EURUSD: Despite its consolidation the past week, it managed to close higher, opening the door for a move higher towards the 1.3307 level, representing its Dec 2012 high. A break of here will target further upside towards the 1.3350 level. Further out, resistance resides at the 1.3400 level, its psycho level and possibly the 1.3500 level. Its daily RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, EUR will aim at the 1.3158…
Added by fxtech on December 30, 2012 at 10:26am — No Comments