Merry Christmas everyone!
What Forex Target Traders See: We are currently sitting @ 1.3734. The pair has bounced on the trend support but it appears a top has been put in place. We are looking for a bearish movement below 1.3620 to the 0.786 Fibo @ 1.3487. The average daily true range (ATR) for the pair has dropped and is currently is 70 pips.…Continue
Added by Scott Barkley on December 21, 2013 at 3:16pm — No Comments
Personal income likely increased 0.5% in November, alongside a 0.4% increase in personal spending. Our forecast for the core PCE price index is for a 0.1% m/m increase. Last month’s employment report showed stronger payrolls gains alongside a modest increase in average hourly earnings and a slightly longer workweek. Together the data suggest a 0.5% gain in personal income. The November retail sales report suggests a solid gain in personal spending. Spending on durable goods…Continue
Added by ZeusFXTrader on December 21, 2013 at 7:13am — No Comments
"EUR: AQR EUR strength then Growth Focus.
Watch: M3, CPI, German Exports, ECB Meeting, Manufacturing PMI.
We are still long-term bearish on EUR for fundamental reasons, but there are upside risks until the end of the year due to repatriation effects as banks sell off non-performing assets in preparation for the ECB’s Asset Quality Review. Over the medium term, our economists are expecting a rate cut in 1Q14 due…Continue
Added by ZeusFXTrader on December 21, 2013 at 7:11am — No Comments
Despite an unsuccessful first attempt earlier in the week at selling Cable, the arguement for a long-term sell is still valid - if not stronger! If this week closes as a bearish pin bar reversal, then it adds extra meaning to this technical trade set-up!
Added by Pip Logic on December 20, 2013 at 7:31pm — No Comments
I have to say that in my opinion the FOMC statement saying that FED will start from January 2014 to reduce their bond buying program with $10 billion/month is the best Christmas gifts investors could receive from a central bank. And not because of the new trading opportunities but mostly due the certainty this statement brought into the market. Starting May 2013 when Bernanke said for the first time that FED might reduce the QE3, the market was dominated by UNCERTAINTY: one day the…Continue
Added by Arenoosh on December 20, 2013 at 2:24pm — No Comments
Currently we are at 2.0025 after the break north of the wedge. We are looking for a bullish continuation to the 1.270 Fibo area @ 2.0128 and 2) the next target is the 2.0200. The average daily true range (ATR) for the pair currently is 229 pips.…Continue
Added by Scott Barkley on December 20, 2013 at 1:58pm — No Comments
Despite moving to taper asset purchases sooner than we expected, the overall FOMC decision strengthens our conviction that 2014 will be the year of the USD. Beyond relieving a key source of market uncertainty – when the taper begins – the FOMC upgraded its US growth and employment outlook, and projected a more gradual path of inflation increases and rate hikes. The growth portion of this “Goldilocks” scenario is central to our primary thesis for 2014 – More in store than USD…Continue
Added by ZeusFXTrader on December 20, 2013 at 1:29pm — No Comments
Post the FOMC volatility, EUR/USD has moved lower from the recent trading range as the Fed has delivered a friendly tapering, with a modest start to the process coupled with enhanced dovish guidance and a bullish assessment of the economic outlook, notes Morgan Stanley.
"However, we would still maintain a cautious approach to EURUSD ahead of year-end, given the potential for some last minute repatriation flows," MS warns.
"But we would view any…Continue
Added by ZeusFXTrader on December 20, 2013 at 1:28pm — No Comments
EUR/USD continues to point downward on Friday, as the pair trades in the low-1.36 range in the European session. The pair has now lost about 150 points since the Federal Reserve announced on Wednesday that it will taper QE by $10 billion. US releases were a major disappointment, as Unemployment Claims rose last week. As well, Existing Home Sales and the Philly Manufacturing Index fell short of their estimates. On Friday,…Continue
Added by Yohay Elam on December 20, 2013 at 9:52am — No Comments
Gold has turned sharply bearish in the last few trading days which has been expected after only three waves up, labeled as a)-b)-c) on the chart. Current decline from 1251 is very sharp and directional that has already reached a new low so we believe it represents red wave iii), targeting 161.8% Fibonacci extension level at 1175.
GOLD 4h Elliott Wave Analysis
On Intraday Chart GOLD has also been moving pretty well in our favor in this week. We have…
Added by Gregor Horvat on December 20, 2013 at 9:35am — No Comments
"A close below support at 1.6259/56 is needed to cast attention back to the 5 month uptrend at 1.6180. A close below here is needed to alleviate immediate upside pressure and re-target the 1.5855 November low, but our feeling is that that this…Continue
Added by ZeusFXTrader on December 20, 2013 at 8:57am — No Comments
EUR slowly goes deeper and deeper after the tapering started officially. The big players on the market are calm because as long as the pair is above 1.3580 still nothing is lost. Along with this the pair approaches a stong support area around 1.3600 level +/- 10 pips. Below that the things will look more interesting, but as long as we are still above, we may see a 100 pips pullback for example. We have a double top formation model which is a high reliable trend reversal pattern. On a 1.3590…Continue
Added by Vladimir Mihaylov on December 20, 2013 at 6:47am — No Comments
Recommendations: SHORT positions below 1.3693 with 1.3570 & 1.3500 as next targets.
Alternative scenario:The upside breakout of 1.3693 will open 1.3810/1.3870.
Description:The pair printed resistance at 1.3693 levels, stability below this level on a daily basis will keep the pair under pressure with risk towards 1.3570 ahead of 1.3500.On the upside ; break of 1.3693 on a daily basis will have large bullish implication towards…
after EURUSD FOMC selloff from 1.3811 top to 1.3630 suggest downside trade have start and we are looking to enter short on recovery to 1.3700 with 35 pip stop and target 1.3570
Added by peter tec on December 20, 2013 at 4:32am — No Comments
Added by Muthusamy on December 20, 2013 at 3:24am — No Comments