Currently we are at 0.9354 after bouncing on the trend. We are looking for a bullish continuation to the Day chart DOWN trend line area @ 0.9403. Watch for profit taking there. The average daily true range (ATR) for the pair currently is 91 pips.…Continue
Added by Scott Barkley on September 17, 2013 at 1:14pm — No Comments
The Indian rupee has recovered strongly in the last few weeks which has coincided with the arrival of the new governor of the Reserve Bank of India, Dr. Raghuram Rajan (who started his new job on 4th September 2013) and he has been credited with the 8 per cent rally in the Indian currency against the US dollar.
At the end of August, the Indian rupee was perilously close to the 70 level against the US dollar and every one and his dog was saying how bad the Indian…Continue
Added by Ronnie Chopra on September 17, 2013 at 10:39am — No Comments
Recommendations: LONG positions above 1.3325 with 1.3385 & 1.3415 as next targets.
Alternative scenario:The downside breakout of 1.3325 will call for a slide to 1.3285/242 .
Description: The pair trades above its support 1.3325, stability above this level will build a pressure on the 1.3385/1.3415 levels,break of 1.3415 will advance the pair towards the 13451 levels, further upside will aim the 1.3520 levels.On the downside ,…
Gold lost it direction with no clear signal
S3: 1272 S2: 1288 S1: 1301 PP: 1317 R1: 1329 R2: 1346 R3: 1358
Added by Asim Rehman on September 17, 2013 at 8:49am — No Comments
We sent out a forex signal for a potential sell on GBPCAD. We have a confluence of reasons why as we have a triple top formation on the daily timeframe and yesterday’s high test bar gives us a great opportunity to entry this long term move with the benefit of matching RSI convergence.
The 1.6437 level has …Continue
GOLD has turned bearish last week and made a sharp sell-off to 1300 which looks like a wave three of three. As such, current small bounce or sideways price action is most likely wave four within ongoing downtrend in larger degree of a black wave 3 that may reach levels around 1280 in this week. We are bearish as long as 1358 level holds because we know that wave four must not trade into a territory of a wave one. Resistance for current wave (iv) comes in at 1335-1340.
Gold 4h Elliott…Continue
Added by Gregor Horvat on September 17, 2013 at 8:04am — No Comments
The prices of gold and silver started off the week on a positive note as both metals bounced back from last week’s tumble. But this rally might not last long with the FOMC meeting will reveal a change in its monetary policy that includes tapering QE3. The meeting starts today will end tomorrow with a press…Continue
Added by Lior Cohen on September 17, 2013 at 7:46am — No Comments
No extras in the race for FED Chairmanship, according to $WSJ. Yellen, dust yourself off and put on your best suit.
Still here on proud American soil, the CPI inflation is rising 0.2% mom in August, with the core index up 0.1%... Not much of a reason to smile, really.
In Germany, apparently the ZEW indicator is expected to improve from 42 to 49 in September... Autumn bought presents, it seems.
The UK is as boring as ever, with August CPI inflation…Continue
Added by Hedgeson on September 17, 2013 at 7:33am — No Comments
The sun's up and Hedgeson's on fire!
$EURUSD Bullish, in the lines of R 1.3410/1.3460, St 1.3280/1.3230
Also, $EURCHF Bearish, R 1.2399/1.2410, S 1.2330/1.2300
And, in the far-far East... $USD/JPY Bearish, R 99.40/100.10, S…Continue
Added by Hedgeson on September 17, 2013 at 7:09am — No Comments
Added by Jason Sen on September 17, 2013 at 6:52am — No Comments
Added by Jason Sen on September 17, 2013 at 6:37am — No Comments
Added by Bagehot Tomas on September 17, 2013 at 6:32am — No Comments
I am so much happy that yesterday according to my plan a good profit earned by my followers.except crude oil. because yesterday its movement was not as per technical. Look at today plan and enjoy trading. I know that I recommend only 5 trades for one day, but this is not bad , It saves us from over trading and moral is that we entertain in profits.
Market UPDATE 17.9.13
Added by Usman Ali on September 17, 2013 at 6:21am — No Comments
Added by HectorFXtrader on September 17, 2013 at 5:12am — No Comments
Added by Carol Harmer on September 17, 2013 at 4:05am — No Comments
Added by Carol Harmer on September 17, 2013 at 3:35am — No Comments
Yesterday in our analysis on the NZDCHF, we discussed the pinbar formation on the daily chart. We also pointed out that price is expected to fall towards the dynamic support zone as illustrated in that chart. Today however, I would love to bring to your attentions the formation of yet another pinbar candle off…Continue
Added by Henry nnalue on September 16, 2013 at 10:17pm — No Comments
Deutsche Bank - "Net implied USD longs reached 44% of open interest from 40% the week before, marking the third consecutive rise over the past month. However, asset managers decreased their USD long positions notably over the week according to the TFF report, reflecting a general lightening of positions across all currencies. EUR speculative long positions were pared substantially as hedge funds cut longs from 17% of open interest to 8%. Asset managers modestly reduced shorts in the…Continue
Added by Francesc Riverola on September 16, 2013 at 7:04pm — No Comments
JP Morgan - "The broad-based retracement for Latam FX over the past few weeks raises the risk that a deeper corrective phase can develop. Importantly, this follows the test and hold of a number of important levels against the USD and EUR. Moreover, the deep oversold setup following the persistent weakness over the past several months suggests a consolidation phase. For the short term view, the reversals from August have retraced back to the first line of key levels presenting the first clear…Continue
Added by Francesc Riverola on September 16, 2013 at 1:11pm — No Comments