EUR/USD started the trading week on a positive note, riding on better than expected data. However, the common currency showed how vulnerable it is to the topic of negative deposit rates, as one comment sent it back down, setting a double top.
Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.
Added by Yohay Elam on February 24, 2014 at 1:06pm — No Comments
EURJPY 5 Min:
This is one I called in the forum before I took it.
Price was in an up trend until it spiked with news at 9am. It then pulled back in 3 waves, Low 1, High 1, Low 2, High 2, Low 3. The low three just broke the small…Continue
Added by Constantine on February 24, 2014 at 11:16am — No Comments
EURUSD sell point is seeing @ 1.3770 stop 1.3815 target 1.3630 break below target would bring test of support at 1.3560
Added by peter tec on February 24, 2014 at 10:51am — No Comments
ECB under pressure, aggressive measures likely in near future
Recently legendary trader/investor Mr. George Soros said in an interview at MIT College that policy instruments known to work are used so frequently that eventually they stop working.
We have seen this happening in Three out of Four major economies of…Continue
USDCAD has been in a downward retracement for the past few weeks from 1.1200 which we labeled it as a temporary pullback. We are talking about black wave 4 that now appears complete at 1.0907 after sharp impulsive reaction back to 1.1190. It seems that wave 5 is already in progress, which is a final leg in red wave 3) of a larger degree that may rise up to 1.1300-1.1400 region in coming weeks.
USDCAD Daily Elliott Wave Analysis…
Added by Gregor Horvat on February 24, 2014 at 9:20am — No Comments
The EURJPY maintained a bullish momentum, last Friday , printed support at the 140.27 levels . This development leaves the pair targeting the 141.26 levels , a halt is suggested but break of 141.26 will open 142.65 levels next , further out will aim the 144.40 levels.
On the downside , a failure to hold above the 141.26 levels could mean a return to the 140.27 levels , a halt is likely , but If 140.27 fails on a daily basis , expect the pair to weaken further towards the 138.95 levels…Continue
Added by Haitham653 on February 24, 2014 at 9:01am — No Comments
Added by Carol Harmer on February 24, 2014 at 7:40am — No Comments
Forecast through Ichimoku Indicator:
USD-CHF : short from .8875 - stop loss .8915
Added by Fabrizio Poli on February 24, 2014 at 7:40am — No Comments
We bought EUR/JPY from 140.93 and GBP/JPY from 171.20 on Friday. GBP/JPY didn’t work out, even though I still believe we will see this pair coming up.
EUR/JPY didn’t fall that much and we’re still in a EUR/JPY buy trade from 140.93 with the same stops at 139.93. First profit target is at 141.93. If you haven’t bought this pair, I suggest doing it now, from lower levels (currently it’s at 140.54)
I would recommend buying GBP/JPY if it breaks current resistance level at…Continue
Added by Thom Grey on February 24, 2014 at 7:30am — No Comments
EUR/USD: Buy Above 1.3730, TP 1.3765/85, SL 1.3700, BOS 1.3690
GBP/USD: Sell Below 1.6660,TP1.6615,SL1.6690,BOB1.6700
GOLD: Sell Below 1328,TP 1317/11,SL1335,BOB1336
CL: Sell below 102.58,TP102,SL102.80,BOB 102.90
USD/JPY: Buy above 102.25, TP 102.65, SL 101.95, BOS 101.90
EUR German Ifo Business Climate, @2:00PM Core CPI y/y @ 3:00PM
BOB stands for break out buy and…Continue
Added by Usman Ali on February 24, 2014 at 6:30am — No Comments
Thank you for your great support and for the honor to give me the price of the Most valuable fxnetwork member. I will continue to follow the market as best as i can and to provide daily forecasts. I hope they will make your trade better. I admire also to Daologic and Haitham653, their work is amaizing too. Thank you once again to all who voted for me :)
You can watch the awards video here:…Continue
The EURJPY failed to hold below the 137.50 levels , as a result , the pair returned to the main resistance 141.25 as said last week . Despite rise from 136.22 levels, outlook in EURJPY is on the downside as long as resistance 141.25 holds on a weekly closing basis with risk towards the 137.50 levels , where a breach will turn focus on the 135.30 levels, a cut will bring a free fall towards the 132.50 levels.
On the upside , break of 141.25 on a weekly basis will have large bullish…Continue
Added by Haitham653 on February 24, 2014 at 4:55am — No Comments
The USDCAD maintained a strong bullish momentum last week , printed support at the 1.0909 levels . This development leaves the pair targeting the 1.1223 levels where a breach is very likely , If seen it will target the 1.1310 levels, a halt is suggested , but break of 1.1310 levels will open the 1.1418 levels, further out will aim the 1.1540 levels.
On the downside , stability below the 1.1223 levels could mean a return to the 1.0909 levels , a halt is suggested , but losing the…Continue
Added by Haitham653 on February 24, 2014 at 4:47am — No Comments
The GBPUSD maintained some bearish moment, last week, topped at the 1.6821 levels , and bottomed at the 1.6610 levels . Now pressure will be on the 1.6610 levels.
The GBPUSD will have to hold below the 1.6610 levels on a weekly closing basis to push the market for further downside losses , If seen , It will target the 1.6382 levels , a halt is strongly suggested and buyers is likely to return from this level , but If 1.6382 fails on a weekly basis , expect the market to weaken further…Continue
Added by Haitham653 on February 24, 2014 at 4:43am — No Comments
GBPUSD - Rate hike in 2015 largely…Continue
Added by Omkar Godbole on February 24, 2014 at 4:19am — No Comments
Price is currently sitting right above key support at 1.6600 and we will be watching out for a bullish price action false-break early next week. If price closes below 1.6600 early next week we could see a move back to 1.6300 - either scenario seems equally likely right…Continue
Added by Lewis Barber on February 23, 2014 at 10:28pm — No Comments
The average of 6 major spot currency pairs against the USD.
More charts on:
Added by Ron Schelling on February 23, 2014 at 8:02pm — No Comments