Recommendations: LONG positions above 1.3260 with 1.3340 & 1.3370 as next targets.
Alternative scenario:The downside breakout of 1.3260 will call for a slide to 1.3230/200 .
Description: The pair trades above its support 1.3260, stability above this level will build pressure on the 1.3370/400 levels, losing 1.3260 on hourly closing basis would delay the bullish for retesting 1.3230/205 levels, but downside below 1.3260 is…
Added by Haitham653 on August 16, 2013 at 8:46am — No Comments
Recommendations: LONG positions above 1.5565 with 1.5630 & 1.5675 as next targets.
Alternative scenario:The downside breakout of 1.5565 will call for a slide to 1.5530/493.
Description: The pair trades above its support 1.5565, stability above this level will build pressure on the 1.5675 levels, losing 1.5565 on hourly closing basis would delay the bullish for retesting 1.5530/493 levels, but downside below 1.5565 is likely to…
Added by Haitham653 on August 16, 2013 at 8:23am — No Comments
Added by Jason Sen on August 16, 2013 at 7:41am — No Comments
Added by Jason Sen on August 16, 2013 at 7:21am — No Comments
Good morning traders!
Please put here your live calls.
MTG MARKET UPDATE 16-08-13
EUR/USD: Sell below 1.3360, TP 1.3290/50 SL1.3420 BOB 1.3423
GBP/USD: Buy above1.5595 TP1.5660/80,SL1.5573,BOS1.5560
GOLD: Sell below 1365, TP1355/47, SL1372, B0B 1375
OIL: Buy above 107.30,TP107.75/108,SL107,BOS 106.95
USD/JPY: Buy above 97.50, TP97.85/98 SL 97.20 BOS 97
US Building Permits at 5.30pm, Prelim UOM Consumer Sentiment 6.55pm
Added by Usman Ali on August 16, 2013 at 6:44am — No Comments
After the volatile Thursday EUR trades calmly above 1.3340. Yesterday the EUR did a false downmove and quickly reversed to the upside reaching 1.3362 in the late american session. Currently the EUR battles with the Senkou Span A of the positive Ichimoku on H4. With the beginning of the european session some news will be released the forecasted values can support the EUR, but i think we are going towards 'double top' or 'lower top' scenario today. Losing 1.3280 level will open the way to…Continue
Added by Vladimir Mihaylov on August 16, 2013 at 6:19am — No Comments
The market made the big extended stop hunt again before making visible gains.This time the story of USD positive data was used to drop quickly EURO and GBP.later the Gold story is used in the absense of any other data to give a big pull back and further visible gains in EURO and GBP for the week end.
Players are here to continue giving such sentiment change stories to be published by others so that common traders tend to accept the story and book loss or stop…Continue
Market News International reported that the move in gold above $1350, where it has not been since June 20th, caught traders "long and wrong' the usd starting a violent short squeeze in the euro, which spread to other currencies.…Continue
Added by Joseph Trevisani on August 15, 2013 at 7:54pm — No Comments
I recently came across the idea of algorithmic trading.
To put it in Wikipedia's terms:
"Algorithmic trading, also called automated trading, black-box trading, or algo trading, is the use of…Continue
Added by Alan Sach on August 15, 2013 at 6:44pm — No Comments
HSBC - "In the context of the financial market history of recent years, we are now facing an unusual situation. We are no longer in the midst of a crisis that is dominating market attention. Instead, we are currently facing relatively ‘normal’ quiet summer markets and the prospect of modest economic improvements in western industrial economies that may ultimately lead to a ‘normalisation’ of monetary policies after years of unprecedented monetary accommodation.
The absence of crisis has…
Added by Francesc Riverola on August 15, 2013 at 3:43pm — No Comments
Come the week of Aug. 16 - 23, the world’s largest Index, the S&P 500, will once again plummet.
In an all too familiar fashion, it will drag down all other stock markets, superfunds and savings.…Continue
Added by Ron Schelling on August 15, 2013 at 1:52pm — No Comments
CPI was inline with expectations but jobless claims were better than expected. There was a revision for last months jobless claims higher which I see as something that doesn't change my bias for the majors. The euro continues to be mixed to weak as the Pound, Kiwi and Aussie remain bullish. Still looking to buy dips on USD crosses against them at support. Good Luck Trading...
Added by Easy Money on August 15, 2013 at 1:01pm — No Comments
ING Bank - "The Fed’s campaign to reinforce a message that tapering is not tightening has seen the USD hand back the gains that by early July had, on some measures, taken it to its highest level for three years. Yet we feel that its recent weakening needs to be placed in the context of a USD that is still well within the ranges established so far in 2013. Our base case remains very much for the USD to enjoy a strong recovery into year-end, even if the catalyst for its gains is in danger of…Continue
Added by Francesc Riverola on August 15, 2013 at 11:19am — No Comments
GBPUSD: With GBP closing higher on Wednesday and following through higher during early morning trading today, further upside is likely. This development exposes the 1.5600 level with a turn above here creating scope for further bullish offensive towards the 1.5676 level. Further out, resistance resides at the 1.5750 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.5434 level where a reversal of roles as support is likely to…
Added by fxtech on August 15, 2013 at 10:03am — No Comments
Economic data out earlier this morning from the UK at 930am highlighted the strength of the UK economy. Better than expected retail sales for July figures came out at 3.0% versus expectations of 2.7% year on year. Retail sales in the UK jumped by 1.1% in July, according to the Office for National Statistics (ONS).
The rise was significantly larger than expected and means sales are up 3% compared with last year - the fastest annual rise since January 2011.…Continue
Added by Ronnie Chopra on August 15, 2013 at 9:18am — No Comments
Most of the US stock markets are in the risk-off mode after St. Louis Fed President James Bullard said yesterday that the central bank needs to see more data in the second half of the year before it starts tapering its stimulus program. That’s also the reason for higher metals. We can see Gold now trading around 1340 and Silver is already at 22.00 level. Oil price is also higher, now above 107.00. All these three markets have structures that are pointing even higher.
On Gold we…
Added by Gregor Horvat on August 15, 2013 at 8:23am — No Comments
In Europe the banks are closed but the markets are open.
As usual already, please put your live calls here.