Added by muthusamy perisamy on October 21, 2013 at 3:02am — No Comments
The AUDUSD continued its bullish momentum last week, bottomed at the 0.9425 levels , and topped at the 0.9676 levels, now pressure will be on the 0.9676 levels.
The AUDUSD will have to hold above the 0.9676 levels on a weekly closing basis to push the market for further upside gains ,If seen ,It will target the 0.9960 levels where a breach will turn focus on the 1.0310 levels.
Alternatively, a failure to hold above the 0.9676 levels could mean a return to the 0.9425 levels,…
Added by Haitham653 on October 21, 2013 at 12:59am — No Comments
The USDJPY continued its consolidation phase last week but with some bearish momentum, a weekly close above the 99.27 levels is likely to add pressure on the 100.86/101.52 levels, to resume rise from the 95.80 levels , the pair needs to clear the 101.52 levels to open 103.73 levels, a breach will have large bullish implication towards the 108.21 levels, further upside will aim the 112.30 levels.
On the the downside, stability below the 99.27 levels is likely to add pressure on the …
Added by Haitham653 on October 21, 2013 at 12:55am — No Comments
This weekend I have watched Sam Seiden's webinar about trading with the smart money. Little knowledge can be quite dangerous so I hope that I have got this right.
As per chart attached,the area between 0.8500 and 0.85600 is a supply zone. Price was in this area in April-May 2013 and dropped quite significantly. I will be looking at lower timeframes for entry signal within the marked zone.…Continue
EUR/USD rallied to a new 8 month high, enjoying the poor resolution to the US political crisis. Can the pair break higher? Or is it consolidation time? German Producer prices, German Ifo Business Climate and Manufacturing and services PMIs are the highlights of this week. Here is an outlook for these events among others, and an updated technical analysis for EUR/USD, now just under the…Continue
Added by Yohay Elam on October 20, 2013 at 4:38am — No Comments
The GBPUSD recovered strongly last week, printed a new support at the 1.5893 levels, this development leaves the pair targeting the 1.6259 levels ; to resume its upside offensive ,the GBPUSD will have to hold above the 1.6259 levels on a weekly closing basis ,If seen ,It will target the 1.6380/1.6440 levels where a breach will turn focus on the 1.6750 levels.
Alternatively , a failure to hold above the 1.6259 levels could mean a return to the 1.5893 levels, losing this level on a…Continue
Added by Haitham653 on October 19, 2013 at 7:00pm — No Comments
The EURUSD continued its bullish momentum last week, topped at the 1.3703, bottomed at the 1.3472 levels, this development leaves the pair targeting the 1.3785 levels, a halt is suggested , but sustained break above the 1.3785 levels will open the 1.4280 levels, further out will aim the 1.4400 levels.
On the downside , support comes at the 1.3472 levels, losing this level on a weekly basis will bring deeper fall towards the 1.3104 levels where strong halt is suggested , below 1.3104…Continue
USDCHF – With a reversal of its previous week gains occurring the past week, further decline is expected as we enter a new week. This will leave the 0.8967 level as the next downside target where a violation will aim at the 0.8900 level. A turn below here will turn attention to the 0.8850 level followed by the 0.8800 level and then the 08750 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, the alternative scenario will be for the pair to retake the…Continue
Added by fxtech on October 19, 2013 at 12:26pm — No Comments
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 ,…
Added by Haitham653 on October 18, 2013 at 5:25pm — No Comments
"Investors will be grateful for the direction offered by the forthcoming releases of delayed US economic data. That said the relevance of it will clearly be reduced by the fact that for the most part it will refer to the period before the government shutdown. S&P has offered its estimate…Continue
Added by Daologic on October 18, 2013 at 3:30pm — No Comments
Currently we are at 1.4168 in a descending wedge. If it breaks down we are looking for a continuation to the 1.618 Fibo area @ 1.4122 and maybe to the 1.4074 ( 2.270 fibo), The average daily true range (ATR) for the pair currently is 126 pips.…Continue
Added by Scott Barkley on October 18, 2013 at 1:09pm — No Comments
"A decent, and pretty much as-expected pile of data out of China overnight removed another risk from on the minds of investors recently, adding to the positive tone for risk currencies—the AUD in particular. We also heard from RBA Governor Stevens, who managed to mostly avoid comments on monetary policy, but to reiterate the Banks overall neutral tone on the AUD at current levels. All told, there was little to hold back AUD/USD from makingnew highs.…Continue
Added by Daologic on October 18, 2013 at 12:36pm — No Comments
"(...)Watching White Noise in the Dollar. With risk levels low amongst investors and a backlog of US data yet to be released it is premature to read much into the immediate dollar weakness against the majors that has emerged since the resolution to the US debt ceiling. Indeed, taking a larger sweep of recent
history, we find that almost all currencies rose against the dollar between Bernanke’s May testimony, where he implied taper was imminent, and the September “non-taper” FOMC…
Added by Daologic on October 18, 2013 at 11:00am — No Comments
Added by Daologic on October 18, 2013 at 10:58am — No Comments
"(...)We do not subscribe to the view, such as outlined in the Financial Times, that the role of US Treasuries and the dollar are at increased risk. The key agents here, central banks, move at glacial speeds and have few compelling alternatives. A number of countries have long desired and sought alternatives. Remember that the demand for gold by foreign officials that…Continue
Added by Daologic on October 18, 2013 at 10:50am — No Comments
The euro continues to post gains against the US dollar in Friday trading. EUR/USD jumped about 160 points on Thursday, and is trading close to the 1.37 line in Friday European session. These are the highest levels we have seen since February. Congress has agreed to fund the government and raise the debt limit, but only for a few months, so the dollar’s struggles continue. In economic news, US Unemployment Claims fell…Continue
Added by Yohay Elam on October 18, 2013 at 9:35am — No Comments
AUDUSD accelerated to the upside yesterday which has been expected for a while as we are tracking an impulsive structure from late September swing low. Notice that pair moved out of the base channel which is usually a confirmation for a wave three in progress in the middle of a five wave rally. With that said, we think that pair will reach higher prices, but could find a temporary resistance around 0.9700-0.9730 that seems to be a next projected region.
Looking at the daily charts of the Nzd/crosses I noticed the New Zealand dollar trading at the tops. Nothing special until here. In the same time, I remembered that RBNZ's governor, Mr Wheeler, earlier this year, admitted that the central bank of New Zealand stepped in the FX market to stop the kiwi's strength as it was damaging the exporters and indirectly the economy. When Mr. Wheeler said that the Nzd/Usd was trading in the 0.8670 area and all the nzd/crosses were at record highs.…Continue
A large UK current account deficit imposes greater reliance on UK economic growth to support GBP.
EUR has elements of pre-Abenomics Japan-style deflation pressure - high current account surplus, but weak growth and large output gap pressing inflation down. ECB's slow response to deflation risks may boost EUR further until it damages the economic outlook enough to reignite crisis concerns. This…
Added by Daologic on October 18, 2013 at 7:29am — No Comments