Good morning everyone!
Today it's a big day for the markets. We are waiting on US NFP numbers that will most likely have a strong impact on the market. Expectations are 180K; number around 160K or lower will send USD sharply down across the board while 200K or above should be positive for the buck.
From a technical perspective we are waiting on USD to turn bullish. The reason is USD Index where decline from start of November looks corrective but still without evidences of a…
Added by Gregor Horvat on December 6, 2013 at 9:56am — No Comments
MTG MARKET UPDATE 06-12.2013
EUR/USD: Sell Below 1.3665,TP1.3615/3590,SL1.3685,BOB1.3698
GBP/USD: Sell Below 1.6335,TP1.6300/6283,SL1.6355,BOS 1.6360
GOLD: Sell Below 1240,TP 1230/25,SL1232,BOB 1233
CL: Buy above 97.20,TP97.50/75,SL97,BOS96.95
USD/JPY: Buy above 102.10,TP102.45/75,SL101.80,BOS101.75
US Non-Farm Employment Change and Unemployment Rate at 6.30pm
This economic news can change the…Continue
Added by Usman Ali on December 6, 2013 at 7:28am — No Comments
Recommendations: LONG positions above 1.3681 with 1.3710 & 1.3740 as next targets.
Alternative scenario:Stability below 1.3681 may lead for a slide towards 1.3640/1.3615
Description: The pair is so close from critical resistance at 1.3681, an hourly close above 1.3681 will target 1.3710/1.3740 levels, break of 1.3740 will open 1.3770/1.3832 levels.On the downside, stability below 1.3681 will keep 1.3640/1.3615 in sight ,…
As shown on the monthly chart below , the EURUSD printed resistance at 1.3710 levels - Feb 2013 - this top was confirmed by the bearish divergence of %(R) Williams indicator, 2 months ago; 1.3710 was rejected with bollinger bands reversal pattern , the pair printed a new resistance at 1.3832 , with both levels intact , further decline is suggested towards 1.3104 first , below 1.3104 will aim 1.2754 levels.
On the upside, the pair needs to break and hold above 1.3832 levels on…
Added by Haitham653 on December 6, 2013 at 5:54am — No Comments
It was a volatile Thursday yesterday as the EUR/USD dropped to 1.3540 and then reversed to 1.3675 following the mr.Draghi's optimistic speech. Currently the pair is consolidating at the top, preforming small correction moves. Today's support is at 1.3620-30, then 1.3580 and 1.3560. They are too close and won't be broken by Friday's profit taking. To break them we need a lot better than expected and also than previous NFP, something in which i really doubt. We have a 'flag' to the upside but…Continue
Our core view is that even in the event of a very strong employment result, FOMC QE tapering is still likely to be a 2014 event. Relatively illiquid market conditions near year-end, risks of another government shutdown in January, concerns about the effects of the previous shutdown on longer-term business and consumer confidence, and uncertainty over the strength of consumer spending going into the holiday season all make the case for a December taper less compelling. Even as…Continue
Added by Daologic on December 6, 2013 at 5:34am — No Comments
Good Morning all, as we have seen a very strong pullback in Euro and it was not because of Draghi or Ben, it was more or less base on to many short orders in the market. well today we have 2 important Support line 3630 and 3609 which has to hold to see 3715 first. We have an Elliott impulse Wave showing up to 3740 and Pivot point at 3630 for today looking to chart we have important levels to wtach:
Reversal High: 3701 and Break out High : 3740
Reversal Low: …Continue
Added by Carol Harmer on December 6, 2013 at 4:27am — No Comments
Recommendations: LONG positions above 1.6299 with 1.6340 & 1.6403 as next targets.
Alternative scenario:The downside breakout of 1.6299 will call for a slide to 1.6257/197 .
Description: The pair finds support at 1.6299 levels, stability above this level could mean a return to the 1.6340/1.6403 levels, stability above 1.6403 will challenge 1.6440 levels , break of 1.6440 would open 1.6495 ahead of 1.6615 levels.On the downside ,…
Added by Carol Harmer on December 6, 2013 at 4:10am — No Comments
Added by Muthusamy on December 6, 2013 at 1:58am — No Comments
AUD/CHF forms Positive Divergence on 4 H chart, indicates that the pair will goes up
For coming 24 hours to break above today high 0.8166.
Trading Strategy: Buy @0.8125 ST : 0.8089 (New Low) Target: 0.8225.
The euro failed to break 1.3520 area for several days, but failed and is now trade above 1.3620 area which is expected to turn from resistance to strong support.
Trading strategy (based 4H chart)
Buy at 1.3640 area and price target 1.3690 and then 1.3725 stop loss at 1.3610…
Added by gregorian on December 5, 2013 at 3:24pm — No Comments
Added by gregorian on December 5, 2013 at 2:39pm — No Comments
AUDUSD reversed perfectly from 0.9140/50 level in this week where wave E of a triangle completed a wave B) running triangle. We have seen a sharp impulsive fall to a new low so it means that wave wave C) is already underway, ideally down to 0.8900 or possibly even to second 0.8800 target. As such current minor pullback to triangle resistance line is probably wave 2 as a part of five waves down in C).
AUDUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on December 5, 2013 at 9:56am — No Comments
Gold unexpectedly broke all resistance to hit 1250. This week's candles formed a bottoming pattern so we should start to build a short term recovery to unwind the oversold scenario. Any weakness today therefore is a buying opportunity with support at 1229/27 likely to hold the downside. However below 1219 risks a retest of the low this week at 1215/12 for a second buying opportunity today.
Fibonacci resistance at 1247 & short term trend line resistance at 1252 so…
Added by Jason Sen on December 5, 2013 at 9:16am — No Comments
Added by Carol Harmer on December 5, 2013 at 7:07am — No Comments