GOLD: Despite a back off higher prices to close marginally lower the past, GOLD continues to hold on to its broader upside bias. This leaves the commodity aiming at further upside towards the 1,450.00 level, its psycho level on ending its present correction. A cut through here will aim at the 1,500.00 level, its psycho level. A cap may occur here and turn it lower but if that fails, more upside will develop towards the 1,550 level. Conversely, support stands at the 1,348 level with a break… Continue
Added by fxtech on September 1, 2013 at 8:34pm —
One Reason Why I prefer 30 mins over an hrly.. Power of 30's Today...
30 mins on EUR / GU and AUD ......
Some interesting layouts... The reason I prefer 30 mins is that it ends up letting u know in advance what to expect on bigger TF.
It is more of an advance warning system for the PA... At times; it can help you determine what to expect b4 it can…
Added by Tahir Khan on September 1, 2013 at 5:52pm —
Have a look at the attached weekly chart. Price has been rejected 4 times recently at the 1.49200 area. It had faced similar resistance the last time it got to this level and that was in July 2010. I also see divergence on the stochastic.
It is a risky trade nevertheless, not only because… Continue
Added by Oasis on September 1, 2013 at 1:32pm —
EURUSD: Unless EUR follows through lower on its past week losses, there is risk of a return to the to the upside. If this occurs, the 1.3451 level will be targeted. A break through here will set the stage for more strength towards the 1.3500 level with a break resuming its broader upside and turning attention to the 1.3550 level. Further out, resistance resides at the 1.3600 level. Conversely, on continued weakness, support lies at the 1.3200 level followed by the 1.3136 level with a turn… Continue
Added by fxtech on September 1, 2013 at 11:04am —
The average of 6 major currency pairs against the USD.
Click on the chart for more.
Added by Ron Schelling on September 1, 2013 at 10:33am —
GBP/USD posted modest losses during the week but was down less than a cent at the closing bell. The pair closed the week just shy of the 1.55 line, at 1.5491. This week’s market-movers includes PMIs and the Official Bank Rate. Here is an outlook of the events and an updated technical analysis for GBP/USD.
UK releases were uneventful, while the US had a mixed week.… Continue
Added by Yohay Elam on September 1, 2013 at 9:10am —
EUR/USD retreated from the highs in the last week of August. Is this a preview of things to come in September? The ECB Rate decision, PMIs and German industrial data are the main vents on our calendar. Here are the major market-movers for this week and an updated technical analysis for EUR/USD, now in lower ground.
Germany released contradicting data. After an upbeat German … Continue
Added by Yohay Elam on September 1, 2013 at 6:17am —
Tradency gives you a vast database about strategies that you can use to trade for you. The problem is how to wring the best out of this database. The first 2 months were an utter disaster, but in the last four months of successive demos I have gone from $4,027 to over $28,000. Is anyone interested in my method?
Added by Dan Gottlieb on August 31, 2013 at 5:49pm —
Added by Futuristic on August 31, 2013 at 4:00pm —
What Forex Target Traders See: We are currently sitting @ 1.3216. Structure could use a small run back to the trend to cement it is place before the resumption to the downside. We are waiting to see since the structure says we should short to the S5@ 1.3078. The average (14 day) daily true range (ATR) for the pair currently is 82 pips. …
Added by Scott Barkley on August 31, 2013 at 2:54pm —
USDCHF – The pair may have halted its weakness the past week to close higher but continues to maintain its broader downside bias. Unless we see a follow through higher on the back of its past week gains, risk of returning to the 0.9130 level is a possibility with a violation aiming at the 0.9050 level. Bears may come in here and turn USDCHF higher but if this fails to occur, expect further decline towards the 0.9000 levels. Its weekly RSI is bearish and pointing lower supporting this view.… Continue
Added by fxtech on August 31, 2013 at 11:33am —
The EURUSD this week was massively bearish after failing to break above the key resistance level. In our analysis on the 26th of August, we explained that price would have to break above the key resistance level before we see any significant bullish move.… Continue
Added by Henry nnalue on August 30, 2013 at 7:00pm —
1- Those levels are strong support and resistance levels on short term , the market usually respects those levels strongly. Continue
2- If the market rallies into resistance levels , a sell-off is expected.
3- If the market sells-off into support levels, a rally up is expected.
4-I highly recommend using divergences techniques, to find possible turning point during the week!
5- The recommended time frame , the 1 hour and below.
6- In trending market, to…
Added by Haitham653 on August 30, 2013 at 5:23pm —
HSBC - " Currencies are moving increasingly in sync with each other, signalling a return of the RORO phenomenon in which a common factor causes all markets. to move together. This has begun to reverse the trend earlier in the year when RORO loosened its grip on the FX market. Talk of tapering off (TOTO) in the US is now fostering a collective fear among those currencies reliant on foreign funding for their current account deficits. However, two caveats are worth noting. Firstly, this growing… Continue
Added by Francesc Riverola on August 30, 2013 at 2:24pm —
India is liaising with other emerging-economy countries on a plan to co-ordinate intervention in offshore currency markets blamed for fuelling a currency rout over the past three months.
For more click on the bills.
(c) The Economic… Continue
Added by Ron Schelling on August 30, 2013 at 2:07pm —
Currently we are at 0.9304 and testing the break north of the trend. A couple of different scenarios. 1: Bullish: a move to the R4 resistance @ 0.9382 area 2: Bearish : A break down here back to the R2/0.618 Fibo @ 0.9242. The average daily true range (ATR) for the pair currently is 84 pips.…
Added by Scott Barkley on August 30, 2013 at 12:56pm —
In today's lesson, we would be discussing on how traders can use dynamic support and resistance to improve their trading tremendously. Dynamism as the name implies means something that is not constant, something that changes with time. Bringing it to this contest, it is safe to say that dynamic key levels(support or resistance) are those key levels that change with price movement.
I personally use the EMA's(exponential moving average) to determine dynamic levels and they work well for… Continue
Added by Henry nnalue on August 30, 2013 at 12:36pm —
Added by Jason Sen on August 30, 2013 at 11:57am —
TD Securities - "The EUR has consolidated in a tight range along with the rest of the majors overnight, as comments from the ECB’s Nowotny (reaffirming what forward guidance suggested: that rate hikes are very far off and rate cuts are possible) and slightly softer Eurozone CPI receiving little reaction from the currency. The widening in German-US short term spreads that we’ve been pointing out all week has also stalled, but is still commensurate with a lower FX spot rate. It’s also worth… Continue
Added by Francesc Riverola on August 30, 2013 at 11:50am —
Added by Jason Sen on August 30, 2013 at 11:17am —