Today the man that spotted QE4 before anyone else in the financial world, surprised King World News when he boldly predicted that gold will eventually trade above $10,000 an ounce. Pento also warned that in the first half of 2013 Israel would attack Iran,…Continue
Added by Ron Schelling on December 30, 2012 at 10:00am — No Comments
EUR/USD enjoyed another week of gains during the holiday week, but could not sustain them, as the US is approaching the fiscal cliff. As a new year begins, volume and volatility are expected to rise. Manufacturing and service PMIs and employment figures are the highlights of this week. Here is an outlook on the main market-movers this week.
In the US, politicians are working…Continue
Added by Yohay Elam on December 30, 2012 at 4:08am — No Comments
Pivot: 1.3126 , 1.3308
Recommendation: SHORT positions below 1.3260 with 1.3173 & 1.3143 as next targets.
Alternative scenario: The upside breakout of 1.3308 will open the way to 1.3400/1.3500 .
Comment:.As shown on the daily chart below, the pair is under pressure as long as trades below 1.3308, above 1.3308 will support the bullish trend and target 1.3400/500 levels, a clear break below 1.3126 will…
What Forex Target Traders See: We are currently sitting @ 1.3222 in a retracement. Looking for the bounce around 1.3100 and then we are bullish up to 1.3400. A pullback or reversal that breaks the 1.3150 would invalidate this. The average daily true range (ATR) for the pair currently is 77 pips. …Continue
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US Debt increase $ 3.82 billion per day since September 2007 !
Click on the picture below to get more details on the real winner.…Continue
Added by Ron Schelling on December 29, 2012 at 1:30pm — No Comments
The pull back continues
Market sentiment: short term trade (Bearish)
Strategy is to hold short to 1.3160, SL-1.3245
Added by OGUNBANWO OMOSILE PETER on December 29, 2012 at 11:39am — No Comments
USDCHF: The pair continues to face downside pressure as it closed lower suggesting further declines could be building up. If this is triggered further weakness will aim at the 0.9041 level where a breach will turn attention to the 0.9000 level. Price hesitation may occur here due to its psychological importance. However, if taken out, USDCHF will target the 0.8929 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return above the…Continue
Added by fxtech on December 29, 2012 at 11:07am — No Comments
AUDUSD has been in precipitous decline since Dec 12th after making monthly high right below 1.0600. The pair has failed to break this critical resistance level after multiple attempts to penetrate through the descending line of the Weekly Triangle.
The price level has finally provided the long awaited Distribution phase as wave…
Added by fx-Syndicate on December 28, 2012 at 7:28pm — No Comments
Everyone needs to watch out for a similar movements as occurred yesterday after the comment of Harry Reid when Obama meet with the House this afternoon. The road to the new year's trading might just be determined; who knows.
Added by Pst Jacob Andrew on December 28, 2012 at 7:28pm — No Comments
The US dollar remained widely sold on the day despite optimistic data from two main sectors of the US economy. Subsequently, low volatility continues to hamper any real gains in the greenback against other major currencies like the Australian dollar and pound sterling. The only pair, seemingly, in favor of US Dollar strength is the EURUSD – which is trading lower by 0.13% in afternoon trade.
Behind Chicago PMI
Manufacturing activity in…
Added by Richard Lee on December 28, 2012 at 7:01pm — No Comments
Currently we are at 1.3161 after 5 waves to the top. Look for an A-B-C pullback and then MAYBE a go at the top again. The target area down is the support cluster (S3/.382 fibo) @ 130.50. The average daily trading range (ATR) is 69 pips.…Continue
Added by Scott Barkley on December 28, 2012 at 3:02pm — No Comments
Trading Plan EUR/USD when price hit the line at bullish area.
Template for MT4 - H1
Also more trading plan can be found…Continue
EUR/USD is losing ground in Friday’s European session, as the markets will be closely monitoring developments in the fiscal cliff negotiations. Talks will continue on Friday as US lawmakers huddle to try and hammer out a deal before the January 1st deadline. Taking a look at yesterday’s (Dec. 27th) economic releases, the news was mixed. US Unemployment Claims looked very sharp, while New Home…Continue
Added by Yohay Elam on December 28, 2012 at 10:30am — No Comments
Selling EUR/AUD is a very lucrative idea, especially if you look at the hourly time frame which suggests a head and shoulders pattern. The way that the London session has started also suggests entering short positions for EUR/AUD and EUR/USD.
I am selling 3 EUR/AUD positions from 1.2737. Stop losses are above 1.2828. I am targeting 1.2660, 1.2540 and lower.
I am also selling EUR/USD from 1.3220. Stops are above 1.3257. Targets for profit are set at 1.3165,…Continue
Added by Thom Grey on December 28, 2012 at 9:15am — No Comments
GBPUSD trend mixed,GBPUSD cam move today 1.6206 to 1.6070 area.
Recommend buy only at 1.6145 target 1.6206 stoploss 1.6070.
Note : After reach 1.6140 then bullish.
Added by Naveed Anjum on December 28, 2012 at 7:31am — No Comments
EURUSD trend Mixed.EURUSD down Yesterday on us fiscal fears.Countdown to Fiscal Cliff 4 days 38 minutes.today focus on france GDP Q3,Consumer Spending,Italy PPI,USA Chicago PMI & Pending Homes Sales Index.Recommend Buy at 1.3225 Target 1.3300 Stoploss 1.3198,
Added by Naveed Anjum on December 28, 2012 at 7:25am — No Comments
Finally the EUR bears gave a sign they are there and waiting as yesterday the EUR fall almost over 70 pips for 1 hour. Of couse with no facts still on the market EUR recovered easily currently trading around 1.3240. Market follows the strategy "buy on rumors, sell the fact", unless there is no any fact EUR will go up. I am still thinking that USA will go over the fiscal cliff problem in the last minute of the year and traditionally USD will rally in the first week of the new year. Let's wait…Continue
As shown on the daily chart below, bearish divergence has been completed on the daily chart, this scenario is expected to add more pressure to the pair, a daily close below 1.3126 will suggest that deeper correction to 1.2875 is on the way, a daily close below 1.2875 will open the way to 1.2500 levels but I think losing 1.2875/1.3126 levels is not easy at all, anyway, so far any rise is a good chance for short as long as 1.3308 holds, only a daily close above 1.3308 will extend the bullish…Continue