EUR N USD :::

USDCHF: While the pair may have halted its declines and triggered a mild correction, it continues to hold on to its broader short term downside bias. As long as it holds and trades below the 0.9421 level, its July 2012 low, its short term downtrend remains valid. Support lies at the 92.38 level where a violation will aim at the 0.9193 level, its May 07’2012 low with a breach targeting the 0.9100 level. A breach of here will aim at its major psycho level at the 0.9000 level. Its weekly RSI is…

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.2985 stuck in a wedge.  Until this wedge breaks it is hard to know the bias.  We are bullish above 1.3050 and bearish below 1.2900.  A break north target the R6 @ 1.3100 then the double top @ 1.3175 with the 1.3278 as the outer target.  A break south target the S5 @ 1.2795 then the support @ 1.2761 with the 1.2623 as the outer target.  The average daily true range (ATR) for the pair currently is…

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might it be:

trading teams

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A former hedge fund analyst told U.S. senators on Thursday that another “Flash Crash” in financial markets could come at any time as a result of super high-speed computer trading.

For more click on the picture:

(c)…

RBS - Technical Levels
Bund   
RES 142.20; 141.90; 141.37; 141.00/10; 140.48
SUP 139.50; 139.00; 138.45; 138.10; 137.70

Bobl
RES: 126.120; 125.720; 125.613; 125.500; 125.310
SUP 125.050; 124.830; 124.500; 124.430; 124.300

S&P500 (cash)
RES: 1578; 1560; 1540; 1510/18; 1481
SUP 1450; 1427; 1417; 1401; 1390                  
Source: RBS Global Banking & Markets

UBS - EURUSD: BULLISH The corrective pullback stalled just above support at 1.2916 – a move below would trigger deeper correction to 1.2837. Resistance is at 1.3085-1.3172.
USDCHF: BEARISH Resistance is at 0.9380 ahead of 0.9420. Support lies at 0.9239, a break below this level would resume weakness to 0.9195- 0.9104.

Someone asked during the webinar if the technique can be used in shorter time-frames. Here is a beautiful example on a 60 minute chart.

Notice how all trendline crossovers where known before the price gyrations happened- starting at the green vertical line all moments in time where already on the…

The pair is currently @ 1.6267.  We have a reset the parameters to the uptrend indicating further movement long. Initial target is the 1.270 Fibo @ 1.6322 and then the 1.618 Fibo @ 1.6390. Today is square up day so we may put the bottom in @ 1.6228 and be ready for next week instead.  Watch for a bounce at that level.  The Average Daily Trading Range (ATR) for the pair is 81 pips.…

Am excited, this technical analysis thing is just amazing; I should push the button and move into trading real money; I have been through this when I first started years ago just like many newbie’s. Be careful; do not get ambushed in this self-made trap.

If you’re a new inexperienced trader…

The prices gold and silver remained nearly unchanged for the fifth consecutive business day after they had increased precipitately during the first couple of weeks of September. The depreciation of the Euro along with other "risk currencies" may have curbed the rally of precious metals. The…

Markets were supported by news that Spain is closer to asking for an aid. The Financial Times reported that euro officials are in talks with the Spanish government behind the scenes, trying to outline conditions and fiscal reforms for the country, which is needed to acquire a fresh bailout, and that would be enough to trigger the new Outright Monetary Transactions program recently revealed by the ECB. The results…

Theres been a bit on here lately about trend trading, personally I have never been a big fan of the labels trend following or counter trend trading.

A short time ago I took this trade, I'm not going to say much right now, (I'm a bit busy trying to trade ATM and unlike our favourite posters here I am no good at blogging and trading simultaneously, I don't know how they do it). but heres a few charts to look over, I would be interested to hear some comments.

I'll come back later…

USDCAD: The pair may have closed higher on Thursday but left a lot to be desired after it printed a shooting star candle pattern. This candle pattern is both negative and upside reversal signal suggesting the pair may have ended its correction. This will leave USDCAD targeting the 0.9692 level where a violation will call for more declines towards the 0.9631/00 levels. A break will aim at the 0.9500 level and possibly the 0.9450 level. Alternatively, the pair will have to return above 0.9815…

EUR/USD managed to recover but could not breach the all-important 1.30 line. There are reports about progress in securing a deal between Greece and its international creditors. In Spain, the situation becomes more complicated as tensions between Catalonia and Spain rise. US indicators continue showing mediocre growth. Will the week end with a continued dollar strength?.

Here’s an…

Bank of Tokyo Mitsubishi - Ranges & Outlook for the week ahead
USD/JPY – bullish bias – (77.70-79.20)
EUR/USD – neutral bias – (1.2800-1.3200)
USD/CNY – bullish bias – (6.3000-6.3300)
USD/INR – neutral bias – (53.50-55.50)

BNZ - "Looking ahead, there is little on the data calendar tonight. We doubt the weekend’s G20 meeting will produce anything particularly meaningful. So markets look set to end the week a little more downbeat than how they began. With the risks to global growth again tipping to the downside, risk appetite may struggle to retain its post-QE3 buoyancy in the short-term. This should limit the AUD/USD and…

The Euro lost versus the US dollar in the previous European trading session as manufacturing and services output in the Euro Zone in September remained below 50 points, considered as the contraction territory. This adds pressure to the European Central Bank to have a more aggressive involvement to trigger growth in the struggling economy. Also a contributing factor to the decline of the single currency was the failed negotiation among the Greek leaders as to the spending cuts required by…