Added by Carol Harmer on June 4, 2013 at 8:09am — No Comments
[11:38:12 AM] MTG Support (Usman Ali): Instrument Trend Recommendation 4-6-2013
Sell below 1.3080,TP1.3000/2980,SL1.3115BOB 1.3125
Sell below 1.5330,TP1.5250/75 ,SL1.5365 ,BOB1.5370
Sell below 1414,TP1400/1395 ,SL1419 ,BOB1421
Buy above 0.9710,TP0.9775/95 ,SL0.9680 ,BOS 0.9670
CRUDE OIL sell below 93.20,TP92.75/10,SL 93.50 BOB 93.51
Buy above99.60 ,TP100.25/50,SL 99.30, BOS…
Added by Usman Ali on June 4, 2013 at 7:58am — No Comments
USD lost strength against major currencies on 3rd of June. Currently most pairs are targeting key areas. High momentum will be required to break out of these zones otherwise expect price to bounce of these upcoming zones.
USD/CHF, is currently trapped between Resistance and Support
Resistace at 0.9560 - 95270
Support at 0.94813 - 0.94570.
Asian session opened with a corrective move for…
Added by Sardar Uddin on June 4, 2013 at 6:49am — No Comments
Recommendations: Long positions above 1.3017 with 1.3115 & 1.3200 as next targets.
Alternative scenario:The downside breakout of 1.3017 will call for a slide to 1.2970/40
Description: The pair broke above the daily resistance 1.3061 yesterday, more gains are suggested today, below 1.3017 may delay the bullish move and retest 1.2970/40, but in all as long as 1.2943 holds the pair will remain biased to the upside even in…Continue
EUR reversed yesterday on bad ISM data from the USA and later in the day reached 1.3107 with some 30 pips pullback. We have closed the day just above the support zone 1.3050-65. Now we have even stronger support line at 1.3025 where MA200 passes. Daily indicators are turning bullish so it's quite possible after testing 1.3030 again to break the 1.3115 resistance and to reach 1.3190. Lower good support 1.2960 will cap any downside, except in a case that mr.Draghi says something surprising and…Continue
The GBPUSD maintained a bullish momentum yesterday, topped at 1.5375 and closed at 1.5320. Now pressure will be on the key resistance 1.5375, the GBPUSD will have to hold above the 1.5375 on a daily closing basis to push the market for further upside gains, If seen, it will target the 1.5475 levels ahead of 1.5600 where a breach will turn focus on the 1.5745 levels.
Alternatively, a failure to hold above the 1.5375 levels, could mean a return to the 1.5007 levels, but it needs to…Continue
Deutsche Bank - "In recent weeks dollar long positioning has become extended as the market anticipates Fed tapering on the back of stronger US economic data. As a result, US data, particularly labor market data, has taken on renewed importance and may add considerable volatility to currency markets for the remainder of 2013.
Overnight EUR volatility is indicatively pricing 2x the volatility around next Friday’s NFP print relative to a “normal day” (e.g. inferred from 1m volatility).…
Added by Francesc Riverola on June 3, 2013 at 7:56pm — No Comments
JP Morgan - "The big picture is still favoring a H & S topping pattern which formed since September last year. But refraining from delivering the final confirmation via a neckline break at 1.2780/72 (daily.-weekly) the market kept the backdoor open to potentially perform another corrective leg up to 1.3315/23 (weekly.-daily trend channel) if not to 1.3483 (int. 76.4 %) in a C-wave up. For such a recovery to be supported though, it would take a decisive break above 1.3138 (minor 76.4 %)…Continue
Added by Francesc Riverola on June 3, 2013 at 7:20pm — No Comments
Westpac - "Last week we argued the precipitous fall in A$ positioning and sentiment had gone too far. A number of A$ crosses, including GBP/AUD had simply fallen too far too fast in our view.
However, that call proved to be premature. The A$ had an aggressive move lower in London trading on Friday, our stop was hit and we are now out of that position. We do sense that at least some of the weakness seen in AUD was driven by month and quarter end fixes. So perhaps therein lies a lesson for…
Added by Francesc Riverola on June 3, 2013 at 6:41pm — No Comments
Royal Bank of Scotland - "Trading FX has been challenging in recent weeks, with a big recovery in JPY and sharp falls in several emerging currencies, and moderate strength in European currencies.
Looking ahead, the US economy will probably continue to display a solid growth outcome. It may not completely break the shackles of fiscal consolidation, but we expect that it will continue to be strong enough to see tapering begin over the next few months and ensure the USD on balance remains…
Added by Francesc Riverola on June 3, 2013 at 6:26pm — No Comments
Important points and notes:
1- These levels are strong support and resistance levels on short term , the market usually respects those levels strongly.
2- I highly recommend using divergences techniques, to find possible turning point during the week…Continue
Important points and notes:
1- These levels are strong support and resistance levels on medium term , the market usually respects those levels strongly.
2- I highly recommend using divergences techniques, to find possible turning point during the month…Continue
Added by Haitham653 on June 3, 2013 at 3:00pm — No Comments
Currently we are at 1.3459 after breaking down from the rising wedge. We are looking for a possible bounce at 1.3429 (the 0.618 Fibo) back to the 0.214 Fibo @ 1.3536. The Break down would target the 1.3350-3385 area. The current average daily trading range (ATR) is 103 pips.…Continue
Added by Scott Barkley on June 3, 2013 at 12:44pm — No Comments
The USDJPY maintained a bearish momentum the past few weeks after topping at 103.73 levels, now pressure will be on the key support 100.20, the USDJPY will have to hold below the 100.20 levels on a weekly closing basis to push the market for further downside losses, If seen , it will target the 97.00 levels where a breach will turn focus on the 95.80 levels.
Alternatively, a failure to hold below the 100.20 levels could mean a return to the 103.73 levels, to overcome the bearish…Continue
Added by Haitham653 on June 3, 2013 at 12:00pm — No Comments
Recommendations: SHORT positions below 1.3045 with 1.2970 & 1.2940 as next targets.
Alternative scenario:The upside breakout of 1.3045 will call for a rebound to 1.3080/1.3115
Description: The pair’s already found resistance at 1.3045, as long as this level holds, look for further downside losses towards 1.2970/40 levels, an hourly close above 1.3040 will reverse risks to the upside and call for a rebound to 1.3085/115…Continue
The euro has started the week with some modest gains, as EUR/USD punched past the 1.30 level in Monday’s Asian session. In economic news, Italian, Spanish and Eurozone Manufacturing PMIs all improved and beat their estimates. In the US, today’s highlight is ISM Manufacturing PMI. The markets are anticipating another reading slightly above the 50-point level, which would indicate modest…Continue
Added by Yohay Elam on June 3, 2013 at 9:25am — No Comments
From BullionVault, 30 May '13
Forget the Nikkei, and look beyond the Yen to gold prices...
The DECLINE of the Yen has been giant so far against the US Dollar, says Steve Sjuggerud's Daily Wealth.
It's no surprise to us that the Yen is falling. Japan's leaders are committed to sending the value of their currency lower and lower. They aim to stimulate Japan's sluggish economy with a devalued currency.
And the recent decline in the value of the Yen is the latest chapter in…
Added by anita88 on June 3, 2013 at 9:24am — No Comments
Stocks fell sharply on Friday at the session close after profit taking and position adjustments for month-end. S&P Futures accelerated lower about we warned you earlier that day with bearish wave count and H&S pattern that was also pointing lower at the time. Market is now beneath important hourly trend-line that could cause more weakness in this week, towards 1620 and even 1605.
S&P Futures 1h…Continue
Added by Gregor Horvat on June 3, 2013 at 9:00am — No Comments