The EURUSD continued to maintain its bullish momentum last week , printed a critical support on the weekly chart at the 1.3230 levels, the EURUSD will have hold above the 1.3230 levels on a weekly closing basis to push the market for further upside gains, stability above the 1.3230 levels will build a pressure on the 1.3415 levels, break of 1.3415 will have large bullish implication towards 1.3710 , above 1.3710 will focus on the 1.4200 /1.4500 as well as 1.5000.
On the downside,…
USDCHF – With continued bearishness seen the past week, further weakness is envisaged in the new week. This development leaves the pair targeting the 0.9130 level where a violation will aim at the 0.9050 level. Bears may come in here and turn USDCHF higher but if this fails to occur, expect further decline towards the 0.9000 levels. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to return above the 0.9412 level and then the 0.9750 level to…Continue
Added by fxtech on August 10, 2013 at 10:11am — No Comments
As shown on the daily chart below the pair breached above the triangle last week , this scenario is likely to add pressure on the 1.3415 levels,a break will expose 1.3710 levels , If seen , the way will be paved to 1.4200/1.4500 levels.
Note that according to triangle on the daily/weekly chart, the assumed target is 1000 pips from the breakout point , so it's around 1.4300 levels..
On the weekly chart, we have the same triangle , but we also have a second bullish pattern…
Like alot of people who trade for a living, I am a bit of an information junkie. Every day I read a huge amount of information on the markets, I have links to twitter feeds and check in on various websites, (like this one), to help gauge sentiment on whats going on. Most of the information is either irrelevant or transitory in its relevance but occasionally i read an article that I think has lasting value.
I am just starting this blog to share some of these…Continue
1- Those levels are strong support and resistance levels on short term , the market usually respects those levels strongly.
2- If the market rallies into resistance levels , a sell-off is expected.
3- If the market sells-off into support levels, a rally up is expected.
4-I highly recommend using divergences techniques, to find possible turning point during the week!
5- The recommended time frame , the 1 hour and below.…Continue
Added by Haitham653 on August 9, 2013 at 8:54pm — No Comments
HSBC - "At the moment the market is seeing excellent UK data but only moderate-to-disappointing US data and that is pushing GBP higher. This is not a situation we believe will persist. UK monetary policy will eventually distance itself from the less dovish tone emanating from the US Fed. Such a divergence in policy is a rare event in UK-US economic history, and has been associated with GBP-USD weakness in the past. In addition, while the path of policy in both countries will be determined by…Continue
Added by Francesc Riverola on August 9, 2013 at 3:35pm — No Comments
Currently we are at 0.8016 in a bullish wedge. This is a 2 part trade opportunity. We are looking for a bullish continuation to the R5/resistance area @ 0.8076 - the next target the double top @ 0.8102. The average daily true range (ATR) for the pair currently is 98 pips.…Continue
Added by Scott Barkley on August 9, 2013 at 1:03pm — No Comments
From an Elliott Wave perspective the price action looks nice and clean on several markets, for possible trading set-ups, but unfortunately not much on the FX. I am looking gold, and tracking short-term bullish wave pattern. Current minor pull-back could be wave four, with wave five in view. For any long scalps, keep an eye on 1297 for invalidation-stop level.
Added by Gregor Horvat on August 9, 2013 at 8:30am — No Comments
The Gold maintained a bullish momentum yesterday, broke above the 1307 levels, this development suggests a run towards the 1347 levels the upcoming days , a halt could been seen from 1347 levels but a breach will resume the upward offensive towards the 1377 levels ahead of the 1424 levels , further break will aim the 1444/1488 levels.
On the downside ,support is at 1283 ahead of 1272 (main), at this point , the pair needs to hold above the 1272 levels on a daily closing basis to…
Added by Haitham653 on August 9, 2013 at 6:30am — No Comments
Added by Carol Harmer on August 9, 2013 at 6:29am — No Comments
Recommendations: LONG positions above 1.3327 with 1.3420 & 1.3450 as next targets.
Alternative scenario:The downside breakout of 1.3327 will call for a slide to 1.3300/265.
Description: The pair trades above its support 1.3327, stability above this level will build pressure on the 1.3420/450 levels, losing 1.3327 on hourly closing basis would delay the bullish for retesting 1.3327/1.3265, but downside below 1.3327 is likely to…
Added by Carol Harmer on August 9, 2013 at 6:04am — No Comments
MTG MARKET UPDATE 9-8.13
EUR/USD: Sell 1.3395, TP 1.3350/25 SL1.3425, BOB1.3435
GBP/USD: Sell 1.5550, TP1.5500/5475,SL1.5580,BOB1.5580
GOLD: Buy 1306, TP1317/21, SL1300, B0S 1298
Crude Oil: Buy 103.85, TP104.40/75, SL103.50 BOS 103.40
USDJPY: Buy 96.40, TP 96.85/97.15,SL96 BOS 95.98
Added by Usman Ali on August 9, 2013 at 5:43am — No Comments
Added by Carol Harmer on August 9, 2013 at 5:12am — No Comments
Due to schedule change ,I will be presenting "Asian session: Live market analysis " today 09th August between 05:00-05:30 GMT. - it is FREE
Link to register for the webinar:
Looking to short USD/JPY above 96.42 (weekly pivot). Looking for a long EUR/AUD below 1.4719(weekly pivot). Short EUR/JPY above 129.37(top of Daily Ich cloud). Short EUR/CHF above 1.2296(weekly pivot). Long NZD/USD below .8017(weekly pivot). If I open any of these trades I will try to post them asap. Happy Trading!!!
Added by Easy Money on August 8, 2013 at 7:39pm — No Comments
The Gold maintained some bearish momentum the past few days , resistance is at 1307 levels while support is at 1279 levels, recent development leaves the pair uncertain about the next direction, stability below the 1307 levels on a daily closing basis will build a pressure on the 1279 levels a cut will turn focus on the 1244 levels, further break will aim the 1208 levels.
On the upside , a failure to hold below the 1279 levels could mean a return to the 1307 levels, break of 1307…
Added by Haitham653 on August 8, 2013 at 2:49pm — No Comments
EURUSD: With the pair resuming its medium term uptrend, further bullishness is likely in the days ahead. This development leaves EUR targeting more upside towards the 1.3415 level where a violation will turn focus to the 1.3450 level. Further out, the 1.300 level comes in as the next upside objective. Its daily RSI is bullish and pointing higher suggesting further bullishness. Conversely, support lies at the 1.3344 level where a reversal of roles as support is expected. Further down, support…Continue
Added by fxtech on August 8, 2013 at 2:19pm — No Comments