USDCHF – Although the pair triggered a corrective recovery the past week, its broader medium term downtrend remains intact. If its present attempts on the upside fail, look for USDCHF to return to the 0.8967 level. Further down, support lies at the 0.8900 level with a turn below here leaving the pair targeting the 0.8850 level followed by the 0.8800 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, the alternative scenario will be for the pair to…Continue
Added by fxtech on October 12, 2013 at 11:22am — No Comments
Added by Ron Schelling on October 12, 2013 at 9:22am — No Comments
American consumers are taking the political squabbling in Washington over the budget and deficit to heart at the same time as they disdain the partisan culture in the capital.
The University of Michigan preliminary consumer sentiment index fell to 75.2 in October from 77.5 in September. It was the lowest reading since last December. The Bloomberg poll of economist had forecast a median estimate of 75.3.
A poll from Associated Press/GfK found that just 5 percent of Americans…Continue
Added by Joseph Trevisani on October 11, 2013 at 5:16pm — No Comments
Currently we are at 1.4087 after the break above the 1.4100 Psychological level. This is a 2 part trade opportunity. 1) We are looking for a bullish continuation to the day chart top area @ 1.4141 and 2) the next target the 5th wave R4 @ 1.4181. The average daily true range (ATR) for the pair currently is 83 pips.…Continue
Added by Scott Barkley on October 11, 2013 at 12:48pm — No Comments
EURJPY touched 1333.35 level where an extended wave (iii) could look for a temporary top on this pair and send prices down in wave (iv) pull-back that will be opportunity for traders to join the larger uptrend. For now, it’s too soon to look for any levels as we still don’t have enough data to confirm that wave (iv) has already began. But usually wave four will retrace back to the area of a previous fourth wave of a lesser degree which comes in around 132.42.
EURJPY 1h Elliott…Continue
Added by Gregor Horvat on October 11, 2013 at 9:10am — No Comments
Added by Jason Sen on October 11, 2013 at 9:00am — No Comments
USDJPY: The pair continues to extend its recovery leaving it targeting more upside in the days ahead. As long as it holds above the 96.18 level, the risk still remains higher. This leaves the threat of a return to the 99.00 level and the 100.60 level on the cards. A violation of here will aim at the 101.52 level. Further out, resistance resides at the 102.00 level. Its daily RSI is bullish and pointing higher suggesting further upside. Conversely, support comes in at the 97.00 level followed…Continue
Added by fxtech on October 11, 2013 at 8:33am — No Comments
MARKET UPDATE 11.10.13
EUR/USD: Buy above 1.3525,TP1.3570/90,SL1.3495,BOS1.3590
GBP/USD: Buy above 1.5975,TP1.6020/40,SL1.5950,BOS1.5940
GOLD: Sell Below 1292,TP1280/78,SL1300,BOB1302
CL: Sell Below 102.85,TP102.33/102,SL103.10,BOB103.15
USD/JPY: Sell Below 98.50,TP98.20/98,SL98.75,BOB 98.80
Prelim UoM Consumer Sentiment 6.55
BOB stand for break out buy and BOS…Continue
EUR is in a consolidation waiting for the 17 october and wondering will the USA's economy crash or avoid the difficult situation. If there is no decision in USA until 18 october then Obamacare will turn into EURcare, as the EU currency will jump to 1.4000 in no time. I cannot give any forecast about that but i may say it is quite possible. These days we can see that EUR bulls can be found around 1.3480 and the area is well protected, however bears defend 1.3540-50. Still we can see the…Continue
Added by Vladimir Mihaylov on October 11, 2013 at 5:26am — No Comments
As you can see from the attached 4 hour chart, price has been rejected off a major s/r level.
The daily chart below also shows a H&S pattern being formed.…Continue
Market should hold major support at 1.3476 before rising towards 1.3548 or even 1.3577 limit.
Ready for short
I cannot see any reason why a short is not a good idea. See hourly chart attached below. Price below daily pivot 50SMA and 21EMA. It also continues to make lower highs.
A look at the daily chart shows H&S pattern completed. What remains is the break of trendline at the bottom. That event if…Continue
Added by Oasis on October 10, 2013 at 4:17pm — No Comments
S&P Futures market is moving higher at the moment, now trying to break above 100% Fibonacci level on the intra-day basis and possibly will extend up to 161.8% extension which is a typical target for wave iii) of an impulsive trend from an Elliott Wave perspective. In such case we should look for further gain on stocks futures in impulsive formation. USDJPY is then expected to stay bullish based on latest correlation. This view would change only if S&P would fell back below 1647.…
Added by Gregor Horvat on October 10, 2013 at 1:20pm — No Comments
Currently we are at 0.8256 after the break south of the wedge. We are looking for a bearish continuation to the support area @ 8200. The average daily true range (ATR) for the pair currently is 89 pips.…Continue
Added by Scott Barkley on October 10, 2013 at 12:49pm — No Comments
After taking a tumble on Wednesday, the currency is holding steady against the US dollar.EUR/USD remains under pressure, as the pair trades slightly above the 1.35 line. The spotlight was on the Federal Reserve on Wednesday, as President Obama nominated Janet Yellen to head the Federal Reserve. As well, the FOMC Meeting minutes indicated that most policymakers favor tapering QE before the end of the year. In economic…Continue
Added by Yohay Elam on October 10, 2013 at 10:10am — No Comments
Added by Carol Harmer on October 10, 2013 at 8:28am — No Comments
MARKET UPDATE 10.10.13
EUR/USD: Sell Below 1.3515,TP1.3475/55,SL1.3540,BOB1.3555
GBP/USD: Sell Below 1.5950,TP1.5900/5885,SL1.5985,BOB1.5990
GOLD: Buy above 1303,TP1312/16,SL1295,BOS 1293
CL: Buy above 101.85,TP102.50/102.75,SL101.55,BOS101.45
USD/JPY: Sell Below 97.85,TP97.50/23,SL98.05,BOB98.10
GBP Asset Purchase Facility, Official Bank Rate at 4pm ,US Unemployment Claims at 5.30pm, BOJ Gov Kuroda Speaks at 9pm and ECB President Draghi Speaks 9.20pm.
Added by Usman Ali on October 10, 2013 at 6:31am — No Comments
*** Intra-Daily Trading Strategy: BUY British Pound / US Dollar
Buy Target: 1.5957
Buy Stop: 1.5887
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 10, 2013 at 6:24am — No Comments
Added by Carol Harmer on October 10, 2013 at 5:58am — No Comments
Added by Carol Harmer on October 10, 2013 at 5:38am — No Comments