Recommendations: LONG positions above 1.3385 with 1.3430 & 1.3460 as next targets.
Alternative scenario:The downside breakout of 1.3385 will call for a slide to 1.3335/1.3290
Description: The pair trades above its support 1.3385, as long as this level holds,look for further upside gains towards 1.3430 & 1.3460 levels, an hourly close below 1.3385 would delay the bullish move but downside below 1.3385 is likely to be…Continue
Better than expected ZEW for Germany, helped EUR a lot to make a new top at 1.3415, but it is necessary to say that the EUR tested the support at 1.3330 several times yesterday. This means that 1.3320-30 area is now a very important area and if it is broken to the downside that will mean another 150 pips down. On Daily we can see the high price level consolidation and that we are closer and closer to a correction lower.Usually consolidations like this one end up with a big bearish candle of…Continue
Added by Vladimir Mihaylov on June 19, 2013 at 4:26am — No Comments
I see the pair at the end of a 2 leg pullback, the second leg being right at the same height as the first leg. overall the pair is generally bearish, and also looks bearish on daily but currently pulling back. the last 4 daily bars are inside bars within a large bearish candle. something interesting to note is that from the peak on may 22 to the low on jun 16 the number of bars is about 100, with bars closing higher than they opened about equal to the amount of bars closing lower than…Continue
Tomorrow the Federal Reserve will take its high wire act to new levels. It will attempt to convince the markets that the U.S. economy is improving but is not so improved that it can do without $85 billion a month in quantitative easing.…Continue
Added by Joseph Trevisani on June 18, 2013 at 10:29pm — No Comments
UBS - "Any post-FOMC pullback in USDCAD towards strong technical support at 1.0120 should offer dip-buying opportunities for those looking to exploit upside potential into the Bank of Canada's July 17 meeting."
Added by Francesc Riverola on June 18, 2013 at 8:49pm — No Comments
Ranking on Major Pairs and Cross-Rates per June 18th.
The right column is the day before.
For more details click on the table.
Added by Ron Schelling on June 18, 2013 at 6:30pm — No Comments
Added by Víktor Andrés Amú on June 18, 2013 at 6:15pm — No Comments
Goldman Sachs - "Our core view over the medium and longer term is to expect broad Dollar weakness. This is due to the large structural deficits in the balance of payments and government budget that are likely to persist, and the easy monetary policy stance of the Fed. Despite recent speculation that the Fed is close to ‘tapering’ its asset purchases, in our view the Fed will announce the reduction of the rate of monthly asset purchases in December 2013, after which we expect the purchases to…Continue
Added by Francesc Riverola on June 18, 2013 at 2:25pm — No Comments
Societé Generale - "1. Long USD into first Fed exit steps, vs most G10 and EM
G10 basket of choice for the coming month long USD vs JPY, CHF, EUR and CAD.
2. Sell EUR/USD after recent short covering - we still see 1.20 by end-2013
Sell EUR/USD into strength for a move lower over H2.
3. Buy EUR/CHF into weakness to position for long-term valuation mean-reversion
4. Take advantage of USD/JPY correction to reload high strikes
5. Buy NOK and GBP vs EUR
Added by Francesc Riverola on June 18, 2013 at 2:09pm — No Comments
Rabobank - "Although we expect no policy action at this week’s meeting (June 18-19), the FOMC is scheduled to update its economic projections and Bernanke will hold a post-meeting press conference. The markets will follow the latter with even more interest than usual. While the Fed Chairman may attempt to give more clarity about tapering off QE3, it will be difficult to reduce market uncertainty because there does not seem to be a consensus in the FOMC on an explicit criterion for stopping…Continue
Added by Francesc Riverola on June 18, 2013 at 1:55pm — No Comments
Currently we are at 0.6464 after breaking back into the old trend. Looking to continue down to the 0.786 Fibo (S7) @ 0.9398. A break of that look for a double bottom @ 0.9326. The average daily true range (ATR) for the pair currently is 154 pips.…Continue
Added by Scott Barkley on June 18, 2013 at 1:14pm — No Comments
After few weeks I try again a blog about the gold. What I realized that very few talked about this asset in the last few month, One or two years ago each day all the media was full with gold news.By now the gold has been falling out completely from the focus of the speculators. I told everyone when I was I asked this is not a bullish market anymore. You have be flat or sell it, but don’t buy anymore.Generally I am concerned about the wholse commodity asset group, I guess they are no sexy…Continue
Added by BlindFoldedMonkey on June 18, 2013 at 11:30am — No Comments
Added by Jason Sen on June 18, 2013 at 10:31am — No Comments
Deutsche Bank - "US real yields have relentlessly marched higher since May. Some may be surprised by the recent ack of broad dollar strength, but one needs to recall that low real yields since late 2008 were manifesting themselves most in a weak dollar against commodity/$-bloc currencies (notably AUD and NZD) and emerging currencies. Therefore, a change in the real yield trend should most directly translate to dollar strength against those currencies, and indeed that has been the case. With…Continue
JP Morgan - "As already mentioned in the FX weekly two weeks ago the broader JPY recovery pretty much materialized but given the decisive break of the Nikkei 225 below key-Fib.- support at 13000 (int. 38.2 %) in one go (wave A or 1) we have to expect an even deeper setback after a swift countertrend rally. If so though, there is a realistic risk that the JPY breaks key-resistances in form of internal 38.2 % retracements too, which would basically reverse its still prevailing down-trend. For…Continue
Added by Francesc Riverola on June 18, 2013 at 9:27am — No Comments
UBS - "AUDUSD BEARISH The recent sell-off has put our focus on the momentum tools to cross lower to indicate resumption of downside. Support is at 0.9416 ahead of 0.9326. Resistance is at 0.9666.
USDCAD BEARISH Our focus is on the key support at 1.0120 ahead of 1.0027. Resistance is at 1.0226.
EURCHF BEARISH The sharp sell-off is held by the support at 1.2267. A closing break would trigger deeper sell-off to1.2196. Upside should be limited with strong resistance at 1.2386.
Added by Francesc Riverola on June 18, 2013 at 8:20am — No Comments
Generally the EURUSD is massively bullish, this morning made a trap for short siders. After a while recovered pretty fast from 1,3325. Which tells me it is still so strong on the upside, so I bought it again at 1,3370, SL 1,3340, TP1,3393.
Our daytrading workshop is on skype. Skype name:…Continue
Yesterday we traded on long, today we need to short, This is the part of the business, get in, get out, being on the both sides of the market. setup 1,0180 SL 1,0195, TP 1,0165 beacuse we ar in contratrend, so must be more cautious.
Our daytrading workshop is on skype. Skype name: „Blindfoldedmonkey” or…Continue
PLEASE LOOK AT TODAY SWING TRADING RANGE.
Instrument Trend Recommendation 18-6-2013
Buy above1.3345TP1.3380/3410,SL1.3310 BOS1.3299
Sell below1.5720,TP1.5650/20 ,SL1.5755 ,BOB1.5768
GOLD Sell below 1384,TP1375/70,SL1387,BOB1388
Buy above 94.75TP95.10/50,SL94.40 BOS 94.30
Sell below 98,TP97.50/25, SL98.25 BOB 98.30
Added by Usman Ali on June 18, 2013 at 7:25am — No Comments