HSBC - "Risk on – risk off no longer has a grip on the FX market, either in terms of G10 or emerging markets. Instead, currencies are now able to behave independent of the fickle vagaries of RORO, allowing them to reassert their distinctiveness from other asset markets in many instances. Part of the explanation for this welcome fading of the link between currencies and RORO is the intensifying global currency war, as markets accept they cannot fight central bank appetite for a weaker…Continue
Added by Francesc Riverola on June 7, 2013 at 9:43am — No Comments
Bank of America Merrill Lynch - "The “most important payroll release in years” this Friday has followed:
The 7th worst monthly return for global government bonds since 1985, and
The largest week of bond fund redemptions since October 2008.
The High Liquidity-Low Growth regime of 2008-12 has been maximum bullish for fixed income, and in our view May reflected concerns of a regime shift in 2013.
Our economists expect a 150K increase in May non-farm payrolls, a tad below the…
Added by Francesc Riverola on June 7, 2013 at 8:57am — No Comments
EUR/USD shot higher on Thursday, gaining about 150 points on Thursday. The ECB opted to maintain the current benchmark interest rate at 0.50% and deposit rates at 0%. However, the pair got a boost from optimistic comments from ECB head Mario Draghi about Eurozone growth in 2014. In economic news, German Factory Orders looked weak, hitting a seven-month low. In the US, Unemployment Claims bounced…Continue
Instrument Trend Recommendation 7-6-2013
Sell below 1.3275,TP1.3225,SL1.3300 BOB 1.3305
Sell below,1.5610 TP1.5550 ,SL1.5630 ,BOB1.5635
GOLD Sell below 1415TP1400,SL1420 ,BOB1425
Buy above 96.60,TP97.20,SL96.30.BOS 96.20
Buy above 94.62,TP95.30/50 ,SL94.40 BOS 94.30
Close all the trades before 4pm du to important news. US Non-Farm Employment Change and US Unemployment Rate at 5.30pm
Added by Usman Ali on June 7, 2013 at 7:06am — No Comments
Metals retained their Bullish momentum as Gold and Silver pushed up and testingprevious strong resistance,. Price is currently heading towards resistance zone. High Bullish momentum will be required to keep Bulls in charge. With NFP data to be released today expect high volatility in the market.
We expect Weaker USD after NFP thusanticipate Metals to go sharply Long
Expect Gold to go long and target 1450.00 landmark
Added by Carol Harmer on June 7, 2013 at 5:47am — No Comments
Added by Carol Harmer on June 7, 2013 at 5:44am — No Comments
Recommendations: Long positions above 1.3226 with 1.3290 & 1.3330 as next targets.
Alternative scenario:The downside breakout of 1.3226 will call for a slide to 1.3190/130
Description: The pair broke above the main resistance 1.3242 yesterday , topped at 1.3305, now trades above the key support 1.3226, as long as this level holds on hourly closing basis, the pair is likely to move higher towards 1.3330 levels, losing…Continue
EUR has made a sharp upside move reaching 1.3305 and then pullbacked to 1.3226, all LONG EUR target for yesterday have been hit, i hope you have made some good pips. Today there will be plenty of important data for Germany and NFP from USA. If the data from Germany is bad the market will wait for the NFM doing nothing until the NFP release. If the Germany's data is good EUR will progress more to 1.3300 again ready to jump above. Please note that we are already too far from the Ichimoku on…Continue
Nikkei futures are currently down 230 Yen up today 2.4% vs usd, and1.6% vs the euro Yen 6.4% higher vs the usd and 3.9% vs euro since May 22
Added by Joseph Trevisani on June 6, 2013 at 8:00pm — No Comments
Hello traders. We all hear so many times that uptrend is when HH/HL are painted and downtrend when LH/LL happen. That sound fairy normal but true is that many traders often ignore or simply forget this simple rule. It is not that easy of course, every swing have some intermediate waves that trader have to filter and recognize only major highs and lows(for any particular TF (s)he decide to trade) - thats what separate regular novice from skilled tactician. But what is often…Continue
Currently we are at 0.8488. We are looking for a continuation to the S3 @ 0.8456 then a bounce up on the Day chart trend line The current average daily trading range (ATR) is 56 pips.…Continue
Added by Scott Barkley on June 6, 2013 at 12:58pm — No Comments
Knowing when to enter, and when to exit, a Forex trade can separate good traders from average traders. Keep the following tips in mind in order to enter and exit the market at the right times:Continue
UBS - "Today the European Central Bank and the Bank of England hold their monthly policy meetings. Neither central bank is set to make any changes. But both may still consider further easing under a new governor from July in the BoE's case or if Eurozone sentiment worsens again over the summer in the ECB's case.
For now the euro remains sidelined, trading in a 1.28-1.32 range against the dollar. There are two factors currently supporting the single currency. First, Eurozone data has…
Added by Francesc Riverola on June 6, 2013 at 11:00am — No Comments
Deutsche Bank - "another story in the making this year is euro outperformance despite dollar strength. We think this has more to go, with the majority of EUR-crosses trending higher on a multi-year basis. We see three drivers:
First, most of the valuation correction in EUR has taken place. (...) Second, Europe is exhibiting a number of Japan-style dynamics that are beneficial to the currency. (...) Third, the rest of the world just doesn't look that good.
(...) In sum, we…
Forex trading, more than any other investment area, requires a certain predictive ability and technical acumen that is reliant on careful statistical analysis. In recent years, traders have relied heavily on software packages that aggregate data and exchange rates, creating charts of historical rates that help traders make pre-trade strategic decisions. Two competing packages of software, execution consultation and broker-supplied algorithms, are in competition for the minds (and wallets) of…Continue
Added by Dan Harrison on June 6, 2013 at 10:15am — No Comments
Slightly more exotic pair than usual here, with the CADCHF. I'm currently short from 0.9462 with original stop at 0.9550.
Eyeing up a potential reversal at the 0.9030 horizontal support level. Price needs to give me some form…Continue
Added by Andrew Hewerdine on June 6, 2013 at 9:13am — No Comments
EURUSD is interestingly trading at its daily highs, now above 1.3100 despite the news that’s IMF admitted mistakes over Greece bailout. Generally speaking, reaction on markets is muted, only gold fell for around $7 or so, towards 1391 level.
Technically speaking EURUSD remains unchanged, still showing possibility of an ending diagonal, now at “do or die” level. We need impulsive reversal down before we can take any advantage of this count. Move in this final stages looks tired so…
Added by Gregor Horvat on June 6, 2013 at 8:00am — No Comments
Please look at the graphics ,which shows the critical ranges and support levels.Continue
Added by Carol Harmer on June 6, 2013 at 7:15am — No Comments