EUR/USD certainly enjoyed the surprising NO Taper decision by the US Fed, and jumped to a much higher range. Can the momentum continue as the focus shifts back to Europe? German Federal Elections, Flash PMIs and Draghi‘s speech are the main events this week. Here is an outlook on the market-movers ahead and an updated technical analysis for EUR/USD.
Ben Bernanke and his colleagues surprised…Continue
Added by Yohay Elam on September 22, 2013 at 7:42am — No Comments
1) I look at this weekly chart and realize that the pair has been in a downtrend for a year. I draw a fib from the high to low and see that a retracement occurred to 38.2% and the downtrend has resumed again.
2) Next I look at the daily chart. I can see more clearly that the retracement was…Continue
Added by Jason Sen on September 20, 2013 at 1:31pm — No Comments
Today we get to hear from FOMC members Bullard, Kochelakota, Tarullo and Esther George.
Based on recent speeches, Bullard probably reiterates the importance of asset purchases as a signal of commitment to accommodation.
Further, he views tapering, lower growth forecasts, and lower inflation expectations as signaling a more hawkish reaction function.
Further, he could highlight, similar to Bernanke, that they want to step back at the right moment, and that…Continue
Added by Hedgeson on September 20, 2013 at 1:27pm — No Comments
Added by Jason Sen on September 20, 2013 at 1:24pm — No Comments
Added by Jason Sen on September 20, 2013 at 1:22pm — No Comments
Billionaire investor Warren Buffett compared the U.S. Federal Reserve to a hedge fund because of the central bank’s ability to profit from bond purchases while accumulating a balance sheet of more than $3 trillion.
For more click on the Dollar printing machine !
Added by Ron Schelling on September 20, 2013 at 1:00pm — No Comments
Currently we are at 1.4374 after the break north of the wedge. We are looking for a bullish continuation to the R4 area @ 1.4426 The average daily true range (ATR) for the pair currently is 138 pips.…Continue
Added by Scott Barkley on September 20, 2013 at 12:59pm — No Comments
EURUSD: With EUR maintaining firmly above the 1.3451 level, more strength is likely. This development leaves the pair targeting the 1.3600 level. Further out, resistance comes in at the 1.3550 level followed by the 1.3650 level and possibly higher towards the 1.3700 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, on a price failure it will target the 1.3456 level followed by the 1.3321 level where a breach will target the 1.3250 level. Further down,…Continue
Added by fxtech on September 20, 2013 at 12:50pm — No Comments
NZDUSD has recovered 78.6% of its losses from April-June 2013 High-Low range. The pair has benefited from recent institutional inflow against its major counterparts such as EUR, GBP high-betas. The post-FOMC surge higher seems to be overdone but likely to sustain within weekly price range. As the Buy Climax…Continue
Added by fx-Syndicate on September 20, 2013 at 12:30pm — No Comments
EUR/USD is steady in Friday trading, taking a breather after Wednesday’s huge gains, as the Federal Reserve did not take any action regarding QE. The pair is trading in the mid-1.35 range in the European session. In economic news, the US posted strong data on Thursday, highlighted by a solid Unemployment Claims release. However, this was not enough to bolster the beleaguered US dollar. Friday has just one economic…Continue
Added by Yohay Elam on September 20, 2013 at 9:14am — No Comments
Recommendations: LONG positions above 1.3508 with 1.3570 & 1.3620 as next targets.
Alternative scenario:The downside breakout of 1.3508 will call for a slide to 1.3451/415 .
Description: The pair trades above its support 1.3508, stability above this level will build a pressure on the 1.3570/620 levels,break of 1.3620 will advance the pair towards the 1.3711 levels, further upside will aim the 1.3785 levels.On the downside ,…
The GBPUSD maintained some bearish momentum yesterday , topped at the 1.6162 levels, bottomed at the 1.6021 levels, now pressure will be on the 1.6021 levels.
The GBPUSD will have to hold below the 1.6021 levels on a daily closing basis to push the market for further downside losses ,If seen , It will target the 1.5716/1.5750 levels, a halt is suggested , but a breach will turn focus on the 1.5552 levels, further downside will aim the 1.5422 levels.
Alternatively, a failure…
EURUSD broke to the upside in this week and closed above 1.3500 figure on a daily basis which suggests more upside in days ahead. The reason for this outlook is a sharp rally from 1.3320 low which appears to be a third leg within a third based on the personality of the move. Recently a third leg has stopped in 1.3520-1.3585 resistance area so we suspect that contra-trend movement is wave iv) that could look for completion around 1.3480 figure. Keep in mind that larger trend is up and that…Continue
Added by Gregor Horvat on September 20, 2013 at 7:28am — No Comments
EUR/USD Looking fwd for sliding back, testing Aug high/mid body point, @1.3453/1.3440
USD/JPY Long term yen->negative view, yesterday's price action supportive to my view. buy @99.2, add above @99.56
Added by Bagehot Tomas on September 20, 2013 at 7:06am — No Comments
Added by Jason Sen on September 20, 2013 at 7:05am — No Comments
UBS - "USDJPY BULLISH Resistance is at 100.61, a break above which would open 101.53 ahead of 103.74. Support is at 97.76 ahead of 96.82.
EURUSD BULLISH As a reaction to the sharp advance, there is scope for a short-term setback to unwind. Support is at 1.3501 ahead of 1.3392. Resistance is at 1.3569, a break above which would open the way to major resistance at 1.3711.
GBPUSD BULLISH Resistance is at 1.6179, a break above which would open the way to 1.6381. Any downside will be…
Added by Francesc Riverola on September 20, 2013 at 7:00am — No Comments
Added by Jason Sen on September 20, 2013 at 6:58am — No Comments
Added by Jason Sen on September 20, 2013 at 6:56am — No Comments
MTG MARKET UPDATE 20.09.13
EUR/USD: Sell Below1.3545,TP1.3500/1.3485,SL1.3578,BOB1.3583
GBP/USD: Sell Below 1.6070,TP1.6025/6000,SL1.6100,BOB1.6110
GOLD: Sell below1368, TP1360/55, SL1378, and BOB1380
#CL: Buy above 105.90,TP106.40/65,SL105.80,BOS 105.60
USD/JPY: Buy above99.15,TP99.45/70,SL98.85,BOS 98.74
FOMC Member George Speaks 9.30 FOMC Member Bullard Speaks 9.55pm
Added by Usman Ali on September 20, 2013 at 6:41am — No Comments