Last week gold price started off strong but soon changed direction, declined and finished the week only slightly above its initial starting price for the week. Silver has done even worst and declined on a weekly scale. The renewed fears and concerns in Europe and the possible slowdown in the U.S…

2966 comes in as a spot where this could bounce up as USDOLLAR is on at resis.. 3045-48 is top resis and a break higher to 3050 exposes a move to 3123-25 for the day..

A break under 2960 clean has a tgt of 2886-90 for 2day..

The bullish correction happened last week, was limited and weak, found strong resistance at 1.3212.

This early morning ; the pair breaks below the double bottom ( strong support ) at 1.3033, with this scenario I assume a bearish move testing the key support 1.3000/1.2970 , a clear break below this level would lead for more losses testing the key support 1.2940/1.2910 , losing 1.2910 would test the key support 1.2860  where strong bounce is expected to happen around this…

Following the slow paced week in the financial markets in which commodities and U.S stock started off the week declining while metals rising on account of the weaker than expected (but not that bad) U.S labor report, thus week there will be many more items on the agenda that could stir up the markets. Among the news items on the agenda are: U.S. retails sales report, U.S housing starts, ECB President speech, MPC meeting, Philly Fed Manufacturing Index, U.S…

Despite "Reminiscences of a Stock Operator" being written in the early 1920s, Reminiscences of a Stock Operator continues to be the most useful and most-loved book ever written on the subject of trading and speculation.

In this novel, LeFevre brilliantly describes the life and times of the books protagonist, Larry Livingston, a pseudonym for Jesse Livermore, one of historys most famous traders.…

GBP/USD was down slightly over the week. The pound flexed some muscle, as the pair pushed close to the 1.60 level, before closing the week at 1.5842. The upcoming week has six releases. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

The…

$/yen continued moving down as global worries come from all the world, and the yen is enjoying safe haven flows. BOJ Governor Masaaki Shirakawa’s speech and Japanese trade Balance are the major events this week. and. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.

Last week encouraging figures were registered for the Japanese economy with a…

Euro/dollar couldn’t really recover from the recent fall and eventually close a bit lower as Spanish worries intensified. Will it make a bigger break out of range? Two major German surveys are the highlights awaiting us. Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.

Spain is under growing pressure from all sides: EU inspectors landed in…

Gold started off the week strong as the concerns over the Debt crisis in Europe rose. This time, Spain and Italy were in the headlines.  The week also started after Easter and Good Friday was celebrated over the weekend. As a result the markets were closed on last Friday so that the effect of disappointing U.S non-farm payroll report, which showed a growth of only 120k in…

The EURUSD tested the broken support - low of 03 Apr 2012 - at 1.3212 and declined strongly last Friday,by taking a quick look to 4 hour chart, bearish breakout has been confirmed at 1.3068 , suggests further losses but we need a clear break below the double bottom at 1.3033 to resume the down trend , a clear break below this level would test the key support level 1.2860..

Remember the pair is facing some challenges around 1.3080 area, we have the rising support of triangle , the…

As I mentioned in a previous update the USD CAD is attempting to put in a bottom off the 2012 lows however as of yet the bottom has yet to be confirmed. A daily close above the 1.0050 double top is required to take the pressure off of this pair.…

GBP USD has been an interesting pair. While many have watched what seemed to be a huge head and shoulders formation on the weekly chart the pound bounced off the apparent neckline to make a new yearly high.

Since the most…

Oh boy the EURO USD, everybodys favorite pair - well lets start with what everyone knows we have a head and shoulders formation on the daily. We clearly bounced off that neckline with…

It was bad end to the week with US stock market suffering its worst weekly fall in the calendar year, European financial market  once again faltered, China’s economic growth was very disappointing, though Australian job condition improved reducing the odds for next month’s rate cut. But the size of its economy is not good enough to boost global sentiment.  

Gold moved both ways trading in a $ 50 band and currencies traded in a narrow…

As shown on the daily chart , the pair breached above the 70 at 1.5882 last Feb , showing strong bullish momentum, later the pair continued to rise and broke above 1.5882 while RSI declined .

A bearish divergence means the chart shows rising price, but the indicator highs, in this case the RSI highs are flat or declining,this suggests a lost of momentum, it should be noted that divergences can be extended in a trending market…

While AUD USD seems to have clearly broken out of it's daily down trend, it immediately ran in to trouble with the 100 EMA (blue line) twice. As long as we remain below the 100 day EMA we seems headed down to test the bottom of that band near the W2 around 1.001 and possibly lower toward the bottom band of the 200 day EMA (dotted red line)…

Next Monday early European opening range breakouts based on the previous week data.

Click on the table for more.

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3076.  We are bearish from here having broken the bear flag to the downside.  The initial downside targets are the double bottom @ 1.3034 (watch for a bounce here)  and then the S5/Day chart bottom @ 1.3008 (watch for a bounce here)  and overall target is the-0.270 Fib extension @ 1.2944.  The average daily true range (ATR) for the cross currently is 102 pips.…