GOLD accelerated lower in the last couple of days after a fall through the lower side of a trading channel connected from 1320. So we turned bearish on gold again as we want to go with the current sentiment. In fact, price fell well below the base channel support line yesterday and made a daily close beneath 1400 which is very important sign for a wave three of three sell-off. As such, we think that gold will move even deeper in sessions ahead, towards 1360/65 in the near-term and then even…Continue
Added by Gregor Horvat on May 16, 2013 at 9:00am — No Comments
USD/JPY has been in sideway moves for last couple of days, making Yens bit dicey to trade. Current price action indicate continuation of Corrective move in overall Bullish trend for JPYS.
For Intraday traders, Sell at tips.
Added by Sardar Uddin on May 16, 2013 at 8:00am — No Comments
16 -5-2013 today EURUSD trade we look to buy @1.2755/60 stop 1.2686 target 1.2950 and a break above 1.2950 will move euro to 1.3020. but If EURUSD could not fall to 1.2750 i suggest buy above 1.2945 stop25pip target 1.3015
Added by peter tec on May 16, 2013 at 7:44am — No Comments
Cable is at a horizontal level with continuation divergence and looks like it could move to the upside, before we see price stall and create a head and shoulders pattern.Continue
US Dollar / Japanese Yen broke above the down trendline at 100.77, five days ago. This is a bullish sign. This down trendline, currently with an ending point at 99.73, may now provide downside support with prices having only risen 1.46% since the breakout, the validity of the breakout is questionable. The most recently confirmed up trendline for US Dollar / Japanese Yen has an ending point currently at 97.99. Expect prices to have some difficulty falling below this…Continue
Added by Martin Kay on May 16, 2013 at 6:16am — No Comments
Another day - another fall, deeper and deeper we go and seems there is no end. First test of 1.2850 was unsuccessful, there was only about 30 pips pullback for now and maybe another test will follow today, breaking of 1.2850 will lead us quickly to 1.2730-1.2700. Weekly indicators are negative and heavily point to the downside with first target 1.2760. Daily indicators show that soon a correction will follow. H4, H1 and smaller frames show that correction is trying to begin. The correction…Continue
Added by Carol Harmer on May 16, 2013 at 4:38am — No Comments
AUD/USD weekly chart, currently we have:
- Trendline support is around 0.9860
- SMA 200w also lies at this level
- 0.9850 was once a critical resistance
The pair is forming a pennant pattern and the price has been hovering around key supports for 2 days. Given that the chance could happen just once a year, why not take a risk to buy a rebounce up to 1.0150?…
I take no responsibility and claim that these trades would Result in profit.Sound Money management is Required.
Added by Usman Pervez on May 15, 2013 at 10:34pm — No Comments
As in one of the comments my dear fellow mentioned Haitham and Vladimir i would like to thank them both for there analysis because from there i started to learn things.I also did talked to them and with their guidance i started working on things.All of this i am saying is just because i follow the same methods those guys do as i learn from them.
Well as we all know that the market is moved by the combination of people.So what i suggest is to look for the long term trend and go…Continue
ANZ - "Slippage from 1.5600 may seem relatively sharp, but the broader profile remains that of defining a trading range after the slump to 1.4830-50 in March. The 1.5125-1.5225 area ought to hold and provide support for a secondary push towards the 1.5750-75 area."…Continue
Added by Francesc Riverola on May 15, 2013 at 10:33am — No Comments
Westpac - "USD strength has been a key theme of late. The bulk of its gains however have been posted against a motley bunch of currencies. In the last month USD strength has been concentrated primarily against the likes of AUD, SEK, NZD and CHF. Over the last week JPY, NZD, AUD and CHF have ceded the most ground to the USD. EUR on the other hand, while lower over both the last week and month against the USD, has weathered the USD’s rally comparatively well.
(...) Our longer term…
Added by Francesc Riverola on May 15, 2013 at 10:02am — No Comments
EURJPY-The daily is overbought and I wait for a correction/retracement to the aqua line around 130.85 which is also the Tenkan sen line.Continue
Most Viewed Forex Webinars for the week of May 7th -13th 2013:
#1 Sam Seiden - Swing Trading Spot FX
#2 Brandon Wendell, CMT - Gap Play in Forex
#3 Andrei Knight - …Continue
Added by Francesc Riverola on May 15, 2013 at 9:26am — No Comments
German, French and Italian Prelim GDP numbers were worse than expected, 0.1%, 0.2% and -0.5%. That’s very bad data which is also evident on the charts as EURUSD is testing 1.2900 level. This level is now key for further declines today, possibly to 1.2800 after also worse than expected EU Flash GDP numbers; -0.2% vs. 0.1%
Technically speaking, we can see EURUSD trading below 1.2936 which means that latest correction is done around 1.303. Now the only question is if we will get sharp…Continue
Added by Gregor Horvat on May 15, 2013 at 9:15am — No Comments
UBS - "USDCAD NEUTRAL Resistance is at 1.0217 ahead of 1.0294. Support is at 1.0082 ahead of 1.0014.
AUDUSD BEARISH Support is at 0.9821, a break below this would pave the way for further weakness to 0.9711. Resistance is at 1.0018.
EURCHF BULLISH With bullish trend in place, focus is on resistance at 1.2515, a break above this would open 1.2569. Support is at 1.2387.
EURGBP NEUTRAL There is an important resistance at 0.8546, a break above would open 0.8590. Support is at 0.8432…
Added by Francesc Riverola on May 15, 2013 at 9:03am — No Comments
Good morning traders,
EURUSD continues sliding down, this morning the pair tested 1.29 level.
Taking a look at the chart above, you can see we got very close to an important point where support trendline (1.2884) meets daily (1.2880) and monthly (1.2875) pivot point. From here we can…Continue
A Daily white body has formed yesterday. A Daily engulfing bullish line has formed (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls. If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with Euro Dollar / Japanese Yen), it may be a last…Continue