1. Remember to place here you calls for EURJPY price for Friday November 8 - 2013 London Open at 7:00AM GMT.
2. Just place ONE forecast, example: EURJPY at 131.40
3. All forecasts must be placed before Wednesday November 6 - 12:00AM…Continue
On Friday we highlighted a five sub-waves down in wave iii with possible completion around 1300-1310 area. We can see that recent weakness has stopped exactly at that zone so we suspect that price is now heading higher in the short term within wave iv corrective pullback that should send gold down again from around 1320-1330 resistance zone.
Added by Gregor Horvat on November 4, 2013 at 10:00am — No Comments
"(...)While our best guess is that a December taper is unlikely, what is clear is that whispers about Fed policy still have an enormous power on risk appetite. Since Fed Chairman Bernanke first talked about tapering back in May, authorities in many emerging markets have been stressing the point that the power of the Fed extends well beyond the US borders. Janet Yellen will take over the helm of the Fed early next with…Continue
Added by Daologic on November 4, 2013 at 9:36am — No Comments
"(...)The euro has not violated a similar trend line, drawn off the early July and Sept lows, which come in near $1.3425 on Monday. That area also corresponds to a retracement objective. By the end of the week it is closer to $1.3460. The 5-day average has just cross below the 20-day today. The RSI and MACDs are moving lower. Assuming the…Continue
Added by Daologic on November 4, 2013 at 9:16am — No Comments
Added by Jason Sen on November 4, 2013 at 8:33am — No Comments
Recommendations: SHORT positions below 0.9757 with 0.9420 & 0.9280 as next target.
Alternative scenario:The upside breakout of 0.9757 will open 0.9960/1.0310 levels.
Description:A short term top has been confirmed at the the 0.9757 levels, stability below this level will keep the pair under pressure with risk toward the 0.9420 ahead of 0.9280 levels , losing the 0.9280 would open 0.8847 levels.On the upside, to reverse risks…
Added by Haitham653 on November 4, 2013 at 7:30am — No Comments
After the downward moves on Friday,the market appeared gaining levels during early japanese session.Suddenly EURO made the extended downward move below initial low and confused the traders that there could be further sell off.But in 30 min they gained the levels to initial low 1.3480 and stayed there for another 1:30 Hrs and gained above initial low .A perfect example of extended move.This has to be alternate with upward intentional move - so we can predict their moves before…Continue
Added by Dr. Sivaraman on November 4, 2013 at 7:12am — No Comments
Recommendations: LONG positions above 93.78 with 101.52 & 103.73 as next target.
Alternative scenario:The downside breakout of 93.78 will call for a slide to 92.56/89/15.
Description:The clear break above 99.27 confirmed support at the 93.78 levels, so as long as 93.78 holds , the pair targets 103.73 levels, break of 103.73 would open 105.72 ahead of 108.21 levels .On the downside, losing the 93.78 levels would invalid the…
Added by Haitham653 on November 4, 2013 at 7:07am — No Comments
Recommendations: LONG positions above 97.57 with 101.52 & 103.73 as next target.
Alternative scenario:The downside breakout of 97.57 will call for a slide to 94.00 /89.00
Description:The pair has printed support at the 97.57 on a monthly basis, stability above this level could mean a return to the 103.73 levels, break of 103.73 would open 105.72 levels,at this point I'd expect strong resistance from 105.72 to contain any rise and…
Added by Haitham653 on November 4, 2013 at 7:04am — No Comments
"(...)EURUSD NEUTRAL As a reaction to the sharp sell-off, the immediate risk appears to be for upside move to unwind the overextended downside conditions. Resistance is at 1.3591. Support is at 1.3383.
USDJPY NEUTRAL Resistance is at 99.07, a break above which would open 100.61. Support is at 97.46 ahead of 96.57.
GBPUSD BULLISH The latest weakness does not change the broader bullish picture. There is a strong support at 1.5894. Resistance is at 1.6078 ahead of 1.6260.
Added by Daologic on November 4, 2013 at 6:43am — No Comments
MARKET UPDATE 4.11.13
EUR/USD: Buy above1.3470,TP1.3510/23,SL1.3435,BOS1.3430
GBP/USD: Buy above 1.5910,TP1.5950/80,SL1.5875,BOS 1.5870
GOLD: Buy above 1313, TP1321/25, SL1310, BOS1307
CL: Buy Above 94.50,TP95.10/40,SL94.10,BOS94
USD/JPY: Sell Below 98.80,TP98.50/23,SL99.,BOB,99.05
GBP Construction PMI 2.30pm, US Factory Orders 8pm
BOB stands for break…Continue
Finally long waited correction has come, everybody knew that the EUR is overestimated and there is no reason to buy EUR because nothing so good has happened in Eurozone. The main reason was because of the US government shutdown problems and silence of the FED about tapering. These days EUR dropped heavily to the positive Ichimoku. In fact i expected this to happen some 10 days earlier. Please turn your platform in Weekly mode and you will see that the pair is forming a triangle in which it…Continue
Added by Carol Harmer on November 4, 2013 at 5:43am — No Comments
"(...)ECB rate cut appears priced in and sovereign crisis fears continue to subside
As discussed after the Eurozone CPI last week, our European Economics team are now forecasting a 25bp cut in the ECB's refi rate to 0.25%, but no change in the deposit rate (at 0%), no new liquidity measures, and a possibility that having cut rates the ECB then is less sure of its policy guidance of low or lower rates for an expected…
Added by Daologic on November 4, 2013 at 5:22am — No Comments
Recommendations: SHORT positions below 1.6259 with 1.6000 & 1.5893 as next target.
Alternative scenario:The upside breakout of 1.6259 will open 1.6380/1.6440.
Description:A short term top has been confirmed at the the 1.6259 levels, stability below this level will keep the pair under pressure, losing the 1.5893 levels will have large bearish implication towards the 1.5750 ahead of 1.5426 levels.On the upside , to resume its…
Added by Haitham653 on November 4, 2013 at 4:57am — No Comments
Recommendations: SHORT positions below 1.6252 with 1.5893 & 1.5528 as next target.
Alternative scenario:The upside breakout of 1.6252 will open 1.6700/1.7000 levels.
Description:The GBPUSD has been trading below the 1.6252 levels for almost 2 years, this level served as strong resistance in medium term , stability below this level on a monthly basis will keep the pair under pressure with risk towards 1.5893 levels, losing this…
Added by Haitham653 on November 4, 2013 at 4:53am — No Comments
Someone here know how a respectful broker , ECN or Market Maker , does a serious and transparent money?
Someone says that broker can profit when newbie traders loses.
GOLD: With GOLD’s inability to follow through higher seeing it closing lower the past week, risk remains lower. This development leaves support standing at the 1,251.56 level where a breach will aim at the 1,215.00 level. Further down, support comes in at the 1,180.00 level with a turn below here shifting attention to the 1,150.00 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 1,433…Continue
Added by fxtech on November 3, 2013 at 10:50pm — No Comments
UBS - "The euro has peaked at 1.38 against the dollar for the year. First, October's very weak Eurozone inflation data has strongly increased the risk of the European Central Bank cutting interest rates. Second, the latest Federal Open Market Committee meeting did not rule out the Fed tapering asset purchases even as early as this year.
America's economy will need to bounce back from last month's government shutdown for the Fed to start lowering its pace of quantitative easing. That…
Added by Francesc Riverola on November 3, 2013 at 8:46pm — No Comments