Added by Carol Harmer on October 17, 2013 at 10:26am — No Comments
GBP/AUD is supported around 1.6650 region
(round number and daily support level...
We are seeing divergence on the Hourly chart now and a price squeeze...
will be watching for a break of the trendline, and to get in long on the retest...
aiming for 100-150 pips easily..
Added by Shaun Powell on October 17, 2013 at 10:16am — No Comments
EURUSD: With EUR rallying strongly in early trading today, the risk is for continued strength towards the 1.3645 level to occur. A break of here will resume its broader upside and pave the way for a run at the 1.3710 level, its Feb 01’2013 high. Further out, resistance resides at the 1.3750 level followed by the 1.3800 level and possibly higher towards the 1.3850 level. Conversely, support comes in at the 1.3597 level with a breach targeting the 1.3500 level followed by the 1.3456 level and…Continue
Added by fxtech on October 17, 2013 at 9:34am — No Comments
"President Barack Obama signed a last-minute Congressional deal early Thursday morning to avert a damaging debt default and to reopen the government after a more than two-week shutdown." as reported by a media. US bonds found a support after the news and completed wave (B) so wave (C) could be underway to 136. So higher US Bonds sent the USD lower, and supported the risk on currencies such as EUR, CHF; GBP, AUD and others. We highlighted this scenario already in our yesterday’s intra-day…Continue
Added by Gregor Horvat on October 17, 2013 at 9:19am — No Comments
"(...)Through mid September to early October the yen strengthened against the USD. This was consistent with signs that the JPY was benefitting from safe haven demand. However, since then the currency pair has not been exhibiting strong direction. Having bounced off the 200 day sma earlier this month, USD/JPY pushed modestly higher. In the past few hours USD/JPY have given back some ground. We maintain our long…Continue
Added by Daologic on October 17, 2013 at 9:04am — No Comments
With the US Debt crisis coming down to a dramatic resolution on the last day, Well, anybody surprised they pulled it to the last day??!! We have to take stock of the situation and see if anything is changing with respect to our trade set up on the pair. Namely the butterfly pattern setup.
In case you missed that write up, you can have a look here http://ning.it/1fC22zK
First of all, we had said that the long trigger for us…Continue
Added by yenmaster on October 17, 2013 at 8:30am — No Comments
"(...)The first (and seemingly perpetual) theme is still USDJPY. Although Kuroda has asserted several times this month that more easing is not imminent, many in markets are still willing to challenge this view as the recent deterioration in global growth - especially in the US - may require an offset. This is a valid view, but we caution against expecting too much at month end from the BoJ, while 'governmental' drivers such as the current Diet session and the November review on pension fund…Continue
Added by Daologic on October 17, 2013 at 8:15am — No Comments
"(...)Our AUD/USD forecasts envisage the currency declining to 90c by the end of this year, and to 85c
by the end of 2015. While the very near-term forecasts seem a little pessimistic against the improvement in domestic conditions and given the likely delay in tapering until Q1 2014, we retain our
view that 95/96 is likely to be the top of the range, and the currency is likely to decline from there over
Added by Daologic on October 17, 2013 at 8:00am — No Comments
"Is a shift out of Japan finally due?
We think there will be a near-term increase in Japanese investors' holdings of overseas bonds. Foreign bonds' relative attractiveness over JGBs has reached multi-year highs and changes to the GPIF's investment policy should favour incremental demand for overseas assets. While OATs stand out as the clear European winner under such a scenario, OLOs, DSLs and possibly gilts could benefit."
Added by Daologic on October 17, 2013 at 7:56am — No Comments
"(...)Event risk for Spain in the near future has diminished significantly in our view with a report by Moody's suggesting that a downgrade to 'junk' rating is much less likely than it had been. We expect a further 30-40bp yield tightening versus Germany into year-end, assuming stability in other risk assets. However, we still prefer Italy to Spain over the next few weeks. Beyond the next few months, there are still significant risks to the market arising from structural issues of supply and…Continue
Added by Daologic on October 17, 2013 at 7:53am — No Comments
(...)Post the surprise FOMC no-taper, during confusion that developed over US fiscal policy, there may have been a pause in rapid capital inflow to CNY. However, in the last week CNY forwards and spot have been rising more rapidly, probably indicating that capital inflow has persisted in Oct.
The accumulation of FX reserves in China and other central banks has probably added to demand for a number of reserve currencies and helped them strengthen. The AUD recovered along with other EM…Continue
Added by Daologic on October 17, 2013 at 7:42am — No Comments
"(...) Near term, the return to sanity in the US is obviously a relief for the market, with yields on 1-month Treasury bills declining sharply and equities in the green even before the vote to cement the deal had been held (S&P +1.4%). Meanwhile, in FX there was a short-lived swing back to the USD, with EUR dipping to under 1.35 before recovering and JPY edging close to 0.9890, while GBP sank from 1.6030 to 1.59 before retracing some of that decline; AUD still seems to be taking a…Continue
Added by Daologic on October 17, 2013 at 7:34am — No Comments
After forming a short term top at the 1.3645 levels , the pair starts losing its downside momentum , resistance is at 1.3567 ahead of 1.3645 levels , a break above 1.3567 will add pressure on the 1.3645 levels, above 1.3645 will open 1.3710 ahead of the 1.3785 levels, further out will aim the 1.3870 levels.
On the downside , support is at 1.3460, to reverse risks to the downside, the pair will have to hold below the 1.3460 levels on a daily closing basis,If seen ,It will target the…Continue
Added by Jason Sen on October 17, 2013 at 6:51am — No Comments
Added by Carol Harmer on October 17, 2013 at 5:00am — No Comments
*** Intra-Daily Trading Strategy: BUY Euro Dollar / US Dollar
Buy Target: 1.3561
Buy Stop: 1.3502
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…Continue
Added by Martin Kay on October 17, 2013 at 4:16am — No Comments
Added by Carol Harmer on October 17, 2013 at 4:13am — No Comments
Added by Davi Leonardo on October 17, 2013 at 1:38am — No Comments