All Blog Posts (19,055)

My thoughts on gold..small technical review

here is my gold weekly chart.

after a sudden meltdown price is recovering forming a bullish engulfing candle on the 200 EMA

maybe time for gold to be bullish and maybe hit $3k per ounce later this year when market collapses....…

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Added by Shaun Powell on April 26, 2013 at 11:16am — No Comments

BNP Paribas - BoJ plays down risks of monetary strategy

BNP Paribas - "The projections are remarkably buoyant. On growth, the Bank has raised its growth projection by 0.6 percentage point both for FY2013 and FY2014 to 2.9 and 1.4%, respectively. This is mainly related to the change in direction of macroeconomic policies. This is very high compared to our forecast and those of other institutions. We expect GDP growth in 2013 close to 1.5% and in 2014 close to 1%.

On the risks, the BoJ mentions that delays in implementation of regulatory and…

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Added by Francesc Riverola on April 26, 2013 at 10:30am — No Comments

GBPUSD: Climbs Above Key Resistance Level.

GBPUSD: Having rallied through the 1.5410 level, its April 11’2013 high on Thursday, further upside offensive is likely towards 1.5450 level. On a break and hold above here resistance resides at the 1.5500 level where a violation will call for a run at the 1.5550. Its daily RSI is bullish and pointing higher supporting this view. Conversely, on any pullback the pair could retest the 1.5410 level. We expect this level to provide a strong support and turn it higher. Further down, support comes…

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Added by fxtech on April 26, 2013 at 10:07am — No Comments

EUR/USD April 26 – Will the ECB Lower Rates?

EUR/USD is steady in Friday’s European session, with the pair trading in the mid-1.30 range. Speculation is rising that the ECB may reduce interest rates at next week’s policy meeting, and this could certainly affect the movement of the pair next week. Looking at economic news, there was more weak news out of Germany, as German Import Prices declined for the first time since January. Eurozone M3…

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Added by Yohay Elam on April 26, 2013 at 9:46am — No Comments

EURUSD short-term trading

Hello traders,

EURUSD has found yesterday its local high aroung described 80 area. The pullback to 1.2990 was more agressive than could be expected.

At the moment pair has several support points in 1.3010-1.3000 area. The first resistance is 1.3040, which was tested during previous hour.…

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Added by Rao Khassan on April 26, 2013 at 8:56am — 6 Comments

Forex Technical Analysis - EURJPY April 26th

JPYs had a quiet day for the most part on Thursday but Asian Openn saw some strength in Yen. Currently price has bounced of strong support indicating completion of corrective moves in most JPY pairs. Bulls are losing momentum in JPY pairs but short term look remains to be Bullish. For Intraday Traders Look for Long opportunities with good money management.



Outlook – EURJPY Neutral to Weak …

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Added by Sardar Uddin on April 26, 2013 at 8:42am — 1 Comment

UBS - GBPUSD the risk is for further upside in the near-term

UBS - "EURUSD Resistance is at 1.3108, a break above this would open the more critical 1.3202 and then 1.3232. Support is at 1.2955 and 1.2920 – a breach here would be a bearish development.

USDJPY As long as support at 97.85 holds, there’s scope for extension of the broader bull trend. Resistance is at the psychological 100.00, a break above this would be positive, opening 101.45.

GBPUSD Having closed above 1.5424, the risk is for further upside in the near-term as the trending…

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Added by Francesc Riverola on April 26, 2013 at 8:23am — No Comments

ANZ - AUD/USD: Frustrating range support at risk

ANZ - "The past nine months has seen AUD/USD contained within an effective 1.01-1.06 range. The failure to sustain the early April push above 1.05, highlighted in Figure 1, leaves AUD at risk of making a pronounced test of this range’s support, in the 1.0110-25 area, amidst background bias for a deeper pullback towards 0.9980 (61.8% of the range of the past year). However, by breaking below 1.0110, AUD would also be at risk of a more standard range flip, which suggests a potential fall to…

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Added by Francesc Riverola on April 26, 2013 at 8:12am — No Comments

USDCAD At Potential »Bounce Zone«

USDCAD has turned nicely lower in this week which was expected in corrective wave 2 after recent completed five wave rally in wave 1 at 1.0285. Notice that now we have three sub-waves down from wave 1 peak which is a structure of a contra-trend price action. Current price is also testing an important 50 and 61.8% Fibonacci retracenement level, plus a trend-line connected from March highs. With that in mind, that appears to be ideal zone for a new push higher. A minor impulse back above…

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Added by Gregor Horvat on April 26, 2013 at 8:05am — No Comments

BTMU - Next catalyst for USD/JPY moving higher it may well have to come from abroad

Bank of Tokyo-Mitsubishi - "The yen has strengthened in response to the unchanged monetary policy decision from the BOJ. The announcement, which came at 0535 BST, resulted in USD/JPY falling back below the 99.00 level.

(...) I think if there is anything to take from today’s BOJ policy meeting it is the fact that the BOJ believes it has made all the announcements necessary in order to achieve its more aggressive inflation target. That may illicit the market questioning what next for…

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Added by Francesc Riverola on April 26, 2013 at 7:49am — No Comments

Societe Generale - Crowded positions being flushed

Societé Generale - "Good morning. It's risk-on and raining in London. The Bundesbank doesn't like OMT (we knew that), Angela Merkel chose to point out that Germany needs higher rates (not so sure about that) and next week's ECB meeting and conference call will be fun. But that's all for next week. Today, the SG risk sentiment indicator is back in ‘risk-seeking' territory - an extremely rare event in 2013 despite the S&Ps gains this year.

(...) Crowded positions have been flushed:…

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Added by Francesc Riverola on April 26, 2013 at 7:36am — No Comments

EURUSD - Intraday Strategy (26 Apr 2013)

Recommendations : SHORT positions below 1.3072 with 1.3000 & 1.2930 as next targets.

Alternative scenario : The upside breakout of 1.3072 will call for a rebound to 1.3115/165.

Description : The pair maintained a bearish momentum yesterday,stability below 1.3072 levels will keep the pair under pressure , a break below 1.3000 will accelerate the bearish move towards 1.2950/1.2900 levels, on the upside , an hourly close above…

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Added by Haitham653 on April 26, 2013 at 6:45am — 4 Comments

EUR/USD & GOLD forecast 26.04.2013

EUR has reversed yesterday's upside after US jobless claims release and dropped almost 90 pips, however 1.3000 has stopped further downside and the price bounced to the well known support 1.3030. So we were unable to determine direction yesterday and despite the volatility we ar at the same place where we were yesterday. For today i expect another upside attempt with target 1.3140 and bounce back to 1.3100 or a little below that. A daily close above 1.3090 will open the way to 1.3250 next…

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Added by Vladimir Mihaylov on April 26, 2013 at 4:59am — 3 Comments

GBPUSD; sees a potential turning point !

The GBPUSD continued its bullish momentum the past few weeks, after breaking of the 1.5155 levels, now pressure will be on the 1.5508/1.5544 levels, the GBPUSD will have to hold above the 1.5544 levels on a daily closing basis, to push the market for further upside gains, If seen, this scenario will have large bullish implication , and sooner or later the pair will target  the 1.5853/1.5995 levels, where rejection  is suggested but a breach will turn focus on the 1.6380…

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Added by Haitham653 on April 26, 2013 at 4:33am — No Comments

Rabobank - ECB: We are now forecasting a 25bp rate cut next week

Rabobank - "We have changed our ECB rates view: we are now forecasting a 25bp rate cut next week. This will take the refi rate to a historical low of 0.5%. Our previous call was for the benchmark refi rate to remain at 0.75% until mid-2014 at least. We do not expect the ECB to take the deposit rate below zero as this may have unintended side-effects and thus will remain in reserve for worse case scenarios, a view we explained in one of our previous research notes (“What are the odds of a…

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Added by Francesc Riverola on April 25, 2013 at 2:38pm — 1 Comment

BTMU - Golden Week illiquidity could lift volatility

Bank of Tokyo-Mitsubishi - "The USD/JPY rate has moved close to the 100-level on a number of occasions in response to Kuroda's QQE announcement to expand the monetary base and hit a 2% inflation target. However, yen buying for repatriation of cash earnings from overseas subsidiaries, the recent weak economic indicators in the U.S., and yen buying to avoid option triggers before the BoJ board meeting have countered yen weakness recently. Next week market conditions may be more volatile due to…

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Added by Francesc Riverola on April 25, 2013 at 2:32pm — No Comments

$AUDUSD- breakout?

Currently we are at 1.0334  and the long awaited breakout has occurred  .  We are looking for a small retracement at the R3 @ 1.0365  then a continuation up to the resistance @ 1.0421 and then the R4 Resistance later @ 1.0454. We are bullish.    The current average daily trading range (ATR) is 95 pips.…

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Added by Scott Barkley on April 25, 2013 at 12:52pm — 5 Comments

Goldman Sachs - Continued moderate USD depreciation

Goldman Sachs - "Two factors underpin this view. First, the US continues to run a BBoP deficit and our BBoP framework suggests that the nominal trade-weighted USD is likely to depreciate by about 2%-5% per annum on a trend basis – the real USD TWI is around 5% away from its all-time low. Second, the Fed remains among the most dovish central banks, which further supports our view that the USD remains under depreciation pressure. Potentially positive dollar factors, such as shale oil and gas…

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Added by Francesc Riverola on April 25, 2013 at 12:31pm — No Comments

Some tips - part 4

I have a lot of time these past 2 days so I better post what I wanted now before I take much longer break. Now I would like to talk about health of the trends and anticipation of reversal. Traders mostly look for HH/HL and LH/LL which is good and unbiased technique, but sometimes also overall observation is as important - for at least to keep us from price blowing against us when we are already in. One of the more reliable indicators I found to be overall price skew. Another is "price…

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Added by Romano on April 25, 2013 at 12:30pm — No Comments

Westpac - We are short AUD/NZD, long GBP/USD and short SGD/KRW

Westpac - "The outlook for the global economy has received a number of set backs this week. However, commodities and equity markets are showing signs of resilience. Global liquidity could also get another shot in the arm next week, with rising speculation of an ECB rate cut.

US$ outlook: US data momentum has clearly rolled over and so has expectations of QE coming to a premature end. This should see the DXY struggle to break through the 83.00 level in the near term.…

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Added by Francesc Riverola on April 25, 2013 at 11:07am — No Comments

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