UBS - "EURUSD BEARISH Strong resistance at 1.2900 and 1.2935 should hold any upside. The risk is for rejection and resumption of weakness. Support is at 1.2751 ahead of 1.2662.
USDCHF BULLISH There is a major support at 0.9429. While this holds on closing basis, there is potential for resumption of strength. Resistance is at 0.9528 ahead of 0.9567.
AUDUSD BULLISH Resistance is at 1.0497, a break above would leave little resistance until 1.0599. Support is at 1.0386 ahead of…
Added by Francesc Riverola on April 2, 2013 at 6:58am — No Comments
I will be neutral on this pair. My primary count suggest one more high in 1620-1630 to complete wave y. This idea is well supported by 240 min rising trendline. On alternate count, high is in place @ 1619 and can see 1525-1500 region in coming days. But I am having very less confident in my secondary count.
Trade Idea: Long Position @ market with having stop loss @ 1590 and target @…Continue
Royal Bank of Scotland - "Rate cuts:
. We do not expect the Council to cut rates at this week's meeting. Indeed, we expect rates to remain on hold for the foreseeable future.
. We are not convinced that a cut in the main refinancing rate will do much good. Some members of the Council may feel that they have to do something if the situation continues to deteriorate, but others may fear that being seen to resort to measures which are likely to prove ineffectual could prove…
The GBP/JPY continued to maintain its weakness , and broke out of triangle pattern as shown on the daily chart below, this scenario builds a pressure on the 137.84 levels.
On the downside, support is at 138.25 ahead of 137.84 (main), losing the key support 137.84 on a daily closing basis would bring more fall towards the 135.88 levels ahead of the131.66 levels.
On the upside , resistance is at 141.70,143.80,144.76 and 145.87(main),to retrieve its strength, the GBP/JPY will have…Continue
Previous idea was wrong, and that was a triangle in wave [iv]. As we seen triangle trust from the wave [iv], my job is to counting five wave up, five wave down followed by three wave up before initiating shorts.
A 240 min chart showing the preferred path for this pair. A RSI also diverging, which is common in fifth and third wave affairs.…Continue
Added by FxMind on April 2, 2013 at 5:30am — No Comments
Market resumed after Easter Holidays in NY session yesterday as European Markets were close earlier trends from NY session indicate weakening USD against major pairs, expect USD to weaken.Further against majors but there are resistance ahead. Keep your longs short.
Outlook – USD Neutral to Weak…Continue
EUR progressed to the upside with the release of worse than expected PMI and ISM data, and then many traders took their profit so the price currently is around 1.2860-70 resistance area. As we all know well, this area was a good resistance and has stopped the downside for several times. Now it is a resistance level, and for breaking it higher we need a better economic data from EU. Today the unemployment level for some eu countries and eurozone may stop the further progress of the currency.…Continue
The IMF's updated quarterly COFER report was released late last week. The latest figures, showing foreign exchange reserves as of end 2012, show that central banks in developing countries dumped euros last year, shifting into other currencies such as the Aussie and those of select emerging markets. At 24 percent, euros make up the lowest proportion of developing economy reserves since…Continue
Added by Curt Wehrley on April 2, 2013 at 2:14am — No Comments
I am watching out eur/usd with eur/jpy. Amazing pairs. Well,Euro is fundamentally bearish. Yes, its true. But this doesn't means that euro couldn't have mini bounces..
Looking at intraday chart there is a possibility to enter long for a small period of time.
As you can see into your personals charts (specially H1&H4) there is a lot of bearish points.…Continue
Added by Igor Titara on April 1, 2013 at 11:37pm — No Comments
The USD/JPY maintained a bearish momentum after consolidating for a few days, and broke below the key support 93.52, this scenario confirms the bearish breakout on the daily chart, and should bring further weakness in the following days week(s), next support is at 92.50 ahead of 90.85 levels, around those levels rebound is strongly suggested to the upside, but If 90.85 fails on a daily closing basis , expect the pair to weaken further towards 88.50 ahead of 87.00 levels.
On the upside…Continue
Today's release of the US ISM manufacturing report for March marked a poor start for Q2 economic data releases.
The headline purchasing managers index (PMI) missed the consensus forecast by the greatest margin in twenty months.…Continue
Added by Curt Wehrley on April 1, 2013 at 4:18pm — No Comments
This pair look like will be in consolidation till BOJ Interest rate decision.
My preferred primary count is complex correction of w-x-y in wave 4 in larger degree which is supported nicely by channel. Also, my alternate count is impulsive, though it would be calculated as wave A in near future, I am expecting correction is due and possibly can target 93-92 region before we rally again for 104-105 area. 104-105 area…Continue
Added by FxMind on April 1, 2013 at 1:47pm — No Comments
Currently we are at 1.2816 and building a wedge which is bearish for the pair. A breakdown here would target the S7 support @ 1.2725 and then the -0.618 Fibo Extension @ 12694. We are bearish. The current average daily trading range (ATR) is 93 pips.…Continue
Added by Scott Barkley on April 1, 2013 at 1:05pm — No Comments
GBPUSD: The pair may have pulled back the past week and continues to consolidate but still holds onto its corrective recovery triggered from the 1.4830 level. This leaves the risk of an eventual return to the 1.5300 level where a cap is likely to occur and turn it back down. But a violation of here will turn attention to the 1.5400 level. Alternatively, a failure of its current recovery could mean downside threats towards the 1.5000 level and then the 1.4830 level where a violation will pave…Continue
Added by fxtech on April 1, 2013 at 12:56pm — No Comments
Keeping my primary bearish count, I am suspecting a wave 2 completed on 61.8% fibbo zone @ 8396, and expecting a strong break here to be counted as a wave 3. On alternate idea, we might see small downfall followed by rally to test resistance zone @ 8420.
Daily chart showing the clear path on long term..
Note: Primary count marked with [Black Label], while…Continue