GBPUSD - Trade Recommendation
Added by Omkar Godbole on March 7, 2014 at 9:30am — No Comments
Today is a big day for the markets; the US NFP report will be released later at 13:30GMT. The expectations are 151K. Number above it will send the USD higher and EUR would reverse from resistance while figure around 130K or even lower with be ca catalyst for EURUSD move above 1.3900.
Technically speaking we still don’t know if EURUSD is now at the top of wave D that is part of a triangle or if pair will continue straight up. However, short-term charting suggests a reversal down…
Added by Gregor Horvat on March 7, 2014 at 9:24am — No Comments
Thursday’s sharp advance reinforces the bullish trend as it closed above 1.3827. There’s scope for more upside to break above 1.3893 and then open the way to resistance at 1.4052. Support is at 1.3708.
The pair advanced on Thursday to bring our focus on the resistance at 103.65. A close above this will be positive, opening the way to 105.44. Support is at 102.12 ahead of 101.20.
Added by Daologic on March 7, 2014 at 8:17am — No Comments
"AUD is likely to squeeze out shorts and may rise to .92/93
As discussed in recent reports, the Australian economic data has been much stronger than expected over the last week. The RBA Governor has attempted to discourage the AUD from rising by saying it is historically high. He repeated that today to parliament. However, he has been reluctant to say more.
He has emphasised that the RBA currently expects a long period of stable rates. In fact he has suggested…
Added by Daologic on March 7, 2014 at 6:44am — No Comments
Sell EURAUD at 1.5330
Target of 1.45; Stop of 1.5510
"The ECB is not easing but it’s not tightening for a long time either. Meanwhile, better Australian data point to more focus on RBA policy prospects (we expect rates to move up late this year). Narrowing spreads risk pulling EURAUD sharply lower through the balance of the year and technical signals point to a possible trend reversal. Sell into modest EURAUD gains from here."
Added by Daologic on March 7, 2014 at 6:27am — No Comments
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LONG EUR above 1.3830 SL 1.3815 TP 1.3870-1.3890-1.3910-1.3925
SHORT EUR below 1.3925 SL 1.3950 TP…Continue
"Two weeks back we highlighted why we thought the AUD/NZD had hit a trough. Having been NZD bulls for more than a year, we believed the NZ curve had well and truly priced for RBNZ rate hikes, reflecting New Zealand’s above trend growth, falling unemployment rate, and rising inflation. 12m OIS is currently priced for 115bps of rate hikes this year which is above TD’s forecast for the RBNZ to hike rates 100bps to 3.5% over the course of this year. Our view is that the RBNZ delivering on the…Continue
Added by Daologic on March 7, 2014 at 6:17am — No Comments
The EURUSD maintained a strong bullish momentum yesterday , printed support at 1.3720 levels . This development leaves the pair targeting the 1.4000 levels where a breach will turn focus on the 1.4120 levels , further out will aim the 1.4280 levels.
On the downside , minor support comes at 1.3832 levels , stability above this level will build strong pressure on the 1.4000 levels, losing the 1.3832 levels would open 1.3775 next , below 1.3775 will look for main support at the…Continue
The Crude Oil market produced a bullish price action false-break of key support today. From here we would not be surprised to see this market move higher and there will be high volatility tomorrow with the NFP announcement due out of the US.
Added by Lewis Barber on March 6, 2014 at 10:23pm — No Comments
Rand firms on broad-based dollar weakness.
Global risk-on trade is putting the dollar under pressure and so good for the Rand.
Added by Ron Schelling on March 6, 2014 at 8:30pm — No Comments
NBS will release the China’s February CPI and PPI reports on March 08. Analysts have predicted a decline in the CPI reading. PPI registered 23rd consecutive decline in January. USD/CNY may test 6.175, if February CPI reports miss expectations. Given the way things look, the USD/CNY will likely face two difficult hurdles near 6.175 and 6.217. Being that China is the largest consumer of many commodities in the world, a PPI reading lower than what's forecasted will be bearish for silver, gold,…Continue
Added by Daniel Elo on March 6, 2014 at 5:54pm — No Comments
EURJPY 5 Min:
Price rose today in a classical spike and channel.
The spike was followed by two pushes further up with the second failing and ending as a double top with the first and then forming a classical reversal signal which is a trend candle followed by an…Continue
Added by Constantine on March 6, 2014 at 5:30pm — No Comments
EURJPY 5 Min:
Price was rising then fell in two waves : Low 1 High 1 Low 2. The Trigger for the High 2 long move off the 20MA which is a reliable trade to take in a trend was also that caused by a news event with the trigger candle being an engulfing over the…Continue
Societé Generale - "People frequently ask for longer-term views on EUR/USD and I feel guilty for not having written thrilling tomes to provide regular updates on this fascinating subject. Over the last 5 years, EUR/USD has traded in a 1.2-1.5 range, averaging 1.35. The link above is to a summary of my thoughts, the very short version of which is:
1) EUR/USD will remain in the current range, with a slight upward bias, until the front end of the US rates market actually prices in rate…Continue
Added by Francesc Riverola on March 6, 2014 at 12:27pm — No Comments
The Crude Oil maintained a strong bearish momentum yesterday , topped at the 103.50 levels and bottomed at the 100.83 levels .now pressure will be on the key support 100.83….
The Crude Oil will have to hold below the 100.83 levels on a daily basis to push the market for further downside losses , If seen It will target the 99.60 levels , where a breach will turn focus on the 98.00 levels , further losses will aim the 96.50 levels.
Alternatively , a failure to hold below the…Continue
Added by Haitham653 on March 6, 2014 at 10:31am — No Comments
"EUR/USD – new influences
Since the end of last year investors have had to contend with a whole host of extraordinary events. The Fed has started to taper its monthly asset purchases, emerging markets have…Continue
Added by Daologic on March 6, 2014 at 10:30am — No Comments
Metals and Energies are moving down, while stocks are still pushing higher, so we can see a divergence between commodities and stocks that can be an early warning for a coming risk-off trade. In that case USD will most likely turn bullish. However, these are technicals but we need a catalyst for the moves. Today it’s BoE and ECB rate decisions and tomorrow is the NFP report, so there will be definitely an interesting price action in the rest of the week.
On the overlay chart below…
Added by Gregor Horvat on March 6, 2014 at 10:19am — No Comments
As shown on the 4 hour chart below , the EURUSD pair is trapped inside a triangle , with potential break to the upside , note that the pair was rejected from the key support 1.3693 with bullish divergence , resistance comes at 1.3750 levels , break of 1.3750 will have large bullish implication and should recapture the 1.3825 levels , a breach is very likely , If seen , the first assumed target at 1.3900 levels will be reached .
On the downside , support comes at the 1.3693 levels ,…Continue
EUR/USD: Buy above 1.3735, TP 1.3780, SL 1.3700, BOS 1.3675
(Dollar index is locked between a triangle, drop is expected. SMA 100 and 200 are indicating bullish trend for EUR, but today factory data is important)
GBP/USD:Buy Above 1.6702,TP1.6740,SL1.6672,BOS1.6662
GOLD: Sell Below 1337,TP 1328,SL1342,BOB1343
CL: Buy Above 100.84,TP101.35,SL100.50,BOS 101.40
USD/Jpy:Sell Below 102.75, TP 102.40, SL103, BOB103.10
Today Important News:GBP…