- Continues to consolidate within a wide range: ~350 pips from 1.5900 to 1.6250. The uptrend is furious, driven by strong UK's fundamental background. Investors are waiting for more evidence of UK's growth next week, with most of important news are coming: CPI, labor market, retail sales, and the famous inflation report. Wide ranging moves ~ 200pips should be expected. 1.5900 can be consider as the neck line, while 1.6100 (may extend…Continue
Added by Cho Xom on November 10, 2013 at 4:45am — No Comments
GBP/NZD is one of the best cross currency pair with great volatility. Though spread of this pair in most of broker is too high. But it has high average daily range which makes it very much suitable for trading. I thnik there is good trading potential in coming days using this pair. Traders can earn much pips by GBP/NZD long . GBP is showing good strength against Dollar where NZD is started to fall against Dollar. So you can take the opportunity by taking long position in that…Continue
Sterling falls on strong U.S. jobs data, weak UK trade
Main points for weekend (Nov 7)
Added by Ivan Sonavia on November 9, 2013 at 6:40pm — No Comments
- D1 chart: a head-shoulder-head pattern is forming. The neck line is around 0.8180/8220. For this pattern to be valid, we need to wait 2 daily bars close under this area. After breaking the neck, we could at least expect 0.806x, but in the meanwhile we should be aware of 0.8100 - a very important medium term psy level. Momentum indicators are in neutral area, so I don't expect any strong move for the next several…Continue
Added by Cho Xom on November 9, 2013 at 3:24pm — No Comments
Scanning the weekly and daily charts of the week gone by, somehow drew my attention on the CAD. From a news perspective there is no CAD related announcement before Thu., so that is good.
AUDCAD - See weekly chart below. 1.00150 seems like an important level that could not be breached again and a strong pin bar suggests that the bears are once again in control.…Continue
- D1 chart: 0.9510/25 became short term resistance after the pair failed to break above on Tuesday and Wednesday. After 3 consecutive losing weeks, AUD/USD looks vulnerable and Aussie bears still want more. They are targeting the next medium term key support around 0.9250 +/- 30 pips. 100-160 pips to go, and the 0.9230-9280 area will be a tough battle field for them.…Continue
Added by Cho Xom on November 9, 2013 at 12:01pm — No Comments
USDCHF – With USDCHF gaining strength for a second week in a row, further upside is likely in the days ahead. While maintaining above the 0.9177 level, further upside is envisaged towards the 0.9278 level where a violation will set the stage for a run at the 0.9454 level. A cut through here will pave the way for a push towards the 0.9496 level with a breach of here clearing the way for a run at the 0.9750 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely,…Continue
Added by fxtech on November 9, 2013 at 11:23am — No Comments
This week's key points for currencies are:
- Fed tapering still likely earlier than dollar bears…Continue
Added by Daologic on November 9, 2013 at 7:51am — No Comments
"The September/October correction in EUR/GBP extended higher than we expected (briefly above 0.85 resistance and the 200-day MA) but the rally took the form of a bear wedge pattern and the sell off (bearish outside week) and break below the base of the consolidation last week generated good follow-through selling interest this week. The market has steadied in the low 0.83 area today, raising the risk of a minor correction but the bear wedge breakdown targets a drop to 0.8050 over the next…Continue
Added by Daologic on November 9, 2013 at 7:06am — No Comments
"USD/JPY appears to be directionally-challenged. The market continues to consolidate the late 2012/2013 rally essentially. Heavy losses (outside range day) Thursday retested the 200-day MA support (a little ahead of major trend support at 97.38) but the rejection today has been emphatic, testing the consolidation ceiling just above 99. After having tested major support a number of times through October and November, it is not obvious that the market wants to take USD/JPY that much lower at…Continue
Added by Daologic on November 9, 2013 at 7:01am — No Comments
"EUR/USD price action retains a weak bias through the close of the week, even though the market is showing signs of steadying around the 100-day MA. Loss of short-term (40-day) moving average and trend channel support this week, alongside the break under the 1.3450/60 high/low support zone—pivotal for the markets since mid-September’s break higher—all confer a negative undertone for price action. Short-term trend momentum signals are aligned across an array of the short-term studies…Continue
1- Those levels are strong support and resistance levels on short term , the market usually respects those levels strongly.
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…
Very interesting article.
As everyone is celebrating the market at record highs, another record was just broken and no one appears to be celebrating it.
Because we have been able to sell U.S. bonds for so long to investors around the world, this has enabled us to keep spending and to procrastinate when it comes to getting our house in order.
At some point, foreign investors are going to start getting worried that all those trillions of dollars they pumped into U.S. bonds…Continue
Added by Ron Schelling on November 8, 2013 at 2:55pm — No Comments
Currently we are at 100.17. We are looking for a bullish continuation to the R/5 .1.618 Fibo area @ 0.9268-80. The average daily true range (ATR) for the pair currently is 68 pips.…Continue
Added by Scott Barkley on November 8, 2013 at 2:00pm — No Comments
USDCHF[6H] broke out of the daily downward TL channel early…Continue
Added by fx-Syndicate on November 8, 2013 at 1:09pm — No Comments