EUR didn't reached 1.3840, but was pretty close at 1.3832, however fuel was gone for making more upside. More fuel will come from the FOMC meeting on Wednesday. Until that EUR will preserve the bullish tone and the high level consolidation, there will probably be some short lived drops to 1.3750-60 but a lot of buyers are waiting there, so use these to go LONG. It is widely expected that the EUR will reach 1.3900-3950-60, before the massive profit taking, and start of a big correction…Continue
MARKET UPDATE 28.10.13
EUR/USD: Sell Below 1.3810,TP1.3775/55,SL1.3840,BOB1.3845
GBP/USD: Sell Below 1.6185,TP1.6155/35,SL1.6215,BOB1.6220
GOLD: Sell Bellow 1352,TP1345/40,SL1355,BOB1356
CL: Buy above 97.50,TP98.05/50,SL97,BOS96.98
USD/JPY: Buy above 97.50,TP97.85/98,SL97.30,BOS 97.33
US Pending Home Sales at 7pm
Today market is not looking so much volatile because investors are awaiting for FOMC statement on…Continue
During last week of the month and first week of the new month the market is known to make monthly trend reversal moves inorder to handle the derivative markets.
Also from this week JAPANESE and EUROPEAN session times shift due to adoption of normal time in EUROPE. (day light saving time is off in EUROPE).
I will explain during my Today's (28 Oct) Asian session Live market analysis weninar (05:00-05:30 GMT) the expected market moves for this week and…Continue
Added by Dr. Sivaraman on October 28, 2013 at 3:37am — No Comments
GOLD: The commodity continues to hold on to its recovery higher suggesting further upside is envisaged. However, it will have to retake the 1,375 levels to prevent risk of a return to the downside. In case this occurs, support lies at the 1,240.00 level with a turn below here shifting attention to the 1,215.00 level and next the 1,180.00 level. Conversely, resistance lies at the 1,375 level where a breach will target the 1,399.79 level. A cut through here will open the door for a run at the…Continue
Added by fxtech on October 27, 2013 at 7:13pm — No Comments
This week in the spotlight: FOMC Meeting. We may see a downgrade in the economic outlook due to slowing job growth and overall activity. This may suggests a growing reluctance to tapering. Also, there remains a lot of economic releases due to the gov. shutdown which will make for a busy data week. …
Added by Bagehot Tomas on October 27, 2013 at 4:21pm — No Comments
We have a classic set-up on GBPAUD to sell, thanks to Friday’s close as a bearish pin bar reversal. This bearish pin bar reversal isn’t just any old bearish pin bar reversal set-up!
There are a number of reasons which points to why it looks like a seductive sell, in our opinion. Not only is it rejectingthe horizontal level @1.6912 (an old support level now turned resistance –reflective of a downward trend), this level is also at the same level as theneckline of the double top…Continue
EUR/USD had an excellent week, breaking decisively to levels last seen in November 2011. Is 1.40 the next target? Or will the common currency take a break now? German retail sales, inflation and employment data, , consumer sentiment in France and Germany and GDP in Spain. Check out these events, on our weekly outlook. Here is an outlook for these events among others, and an updated technical analysis for EUR/USD.
Weak Non-Farm Payrolls in the US provided the trigger…Continue
Added by Yohay Elam on October 27, 2013 at 6:51am — No Comments
As you can see from the daily chart below, we are currently in a retrace of the overall uptrend. Price is approaching the 23.6% level and I expect it to reverse or perhaps stall and reverse here. The zone marked in blue will be explained in the 4 hour chart.
Now let us look at the 4 hour chart.…Continue
Added by Ron Schelling on October 26, 2013 at 7:28pm — No Comments
Added by Abdul Rehman on October 26, 2013 at 7:00pm — No Comments
USDCHF – With continued downside seen the past week, further declines are likely in the new week. This will leave the 0.8850 level as the next downside target where a violation will aim at the 0.8800 level. A turn below here will turn attention to the 0.8750 level followed by the 0.8700 level and possibly lower towards the 0.8850 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 retake the 0.9044…Continue
Added by fxtech on October 26, 2013 at 10:53am — No Comments
"The NZD is one currency we have liked recently following some signs of stronger technical momentum (above 0.8160—0.7700 double
bottom trigger) in the past few weeks . But this week’s collapse in price likely signals a near-term peak, at least to retest the mid/
upper 0.81 area. The strength of this week’s reversal—a huge, bearish key week reversal—suggests that the risk of a deeper pullback
cannot be ignored. Near-term, expect more weakness towards 0.8160.…
Added by Daologic on October 26, 2013 at 6:59am — No Comments