Currently we are at 0.9650 after bouncing on the trend line at 0.9600.. We are looking for a continuation up to the resistance @ 0.9736 and then the R6 Resistance later @ 0.9820. We are bullish. The current average daily trading range (ATR) is 119 pips.…Continue
Added by Scott Barkley on May 30, 2013 at 12:51pm — No Comments
A slow start to the week seems long behind us, as the euro continues to rally against the dollar.EUR/USD is trading in the high-1.29 range in Thursday’s European session. Will we see a move towards the 1.30 barrier? In economic news, Eurozone Retail PMI looked sharp, hitting an eight-month high. The markets are awaiting the Italian 10-year bond auction. We could see some action from the pair as…Continue
Added by Yohay Elam on May 30, 2013 at 9:41am — No Comments
Markets did not move much during Asian session, EURUSD is still testing important »do or die« resistance around 1.2980 while the S&P Futures are sideways within corrective rally. Meanwhile USDJPY extended its losses after a spike to 101.53. We expect this pair to remain in bearish mode, based on bearish patterns on stocks futures.
S&P Futures made five waves down from 1672 which means that rally from 1632 is complete so recovery should be fully…
please look at today technical report,
Instrument Trend Recommendation 30-05-2013
Buy above 1.2950,TP1.3000/50,SL1.2910BOS 1.2900
Buy above1.5160,TP1.5200/50 ,SL1.5130,BOS1.5125
GOLD Buy above1398,TP1414,SL 1392,BOS1390
Buy stop 22.70,TP23.25,SL22.50 ,sell stop 22,TP 21.50,SL22.25
CRUDE OIL sell below 93.25,TP92.70/20,SL 93.50,BOB 93.73
important news,US Prelim GDP q/q ,Unemployment Claims…
UBS - "We remain cautious on the Australian dollar given the risk the Reserve Bank of Australia will cut interest rates again from 2.75% this year. The central bank has an easing bias and domestic data remains mixed. As a result we expect the currency to trade at 0.95 against the US dollar over the next three months and 0.90 over the next twelve months. We also see the Australian dollar under-performing the New Zealand dollar as the Reserve Bank of New Zealand - faced with rising house…Continue
Added by Francesc Riverola on May 30, 2013 at 7:37am — No Comments
Westpac - "We have entered a short GBP/AUD position at 1.5651 and target a correction back to the low 1.5200 region in the next 1-2 weeks. We would sell more on a push back to 1.5730, while our stop would be just above the 1.5850 level.
(...) We still see risks that USD trend ultimately breaks higher and this, combined with weaker terms of trade picture, should deliver a weaker A$ over the medium term. However, in the near term, positioning, a more resilient domestic economic picture…
Added by Francesc Riverola on May 30, 2013 at 7:30am — No Comments
EUR/USD has been sideways for last couple of days. Wednesday EUR/USD strong bounced of support zone at 1.285 - 1.2450 and ending day with significant gains. With current price action expect USD to further weaken against EUR as EUR/USD test resistance at 1.299 - 1.301
For Intraday Traders - Buy at dips with TP at 1.300
Added by Sardar Uddin on May 30, 2013 at 7:05am — No Comments
A 4 waves structure can be spotted on the H4 chart, from 1.3242 - 1.3033 - 1.3194 - 1.2796 - 1.2997. Now price are moving in a complex triangle pattern ( a-b-c-d-e ) form a w.4 structure and retrace to just in the zone of FR 38.2% - FR 50.0% ; since that w.2 had retrace over 61.8% in a simple…Continue
Added by Vincent Kuan on May 30, 2013 at 6:30am — No Comments
After testing the 1.2840 support EUR reversed and reached 1.2977 then pullbacked some 60 pips and finally closed the day around 1.2930. Remember that i have told you any daily close above 1.2930 will lead to further progress to the upside and any close below will lead to continuing consolidation. Well with the Daily close at 1.2930 it is not clear again what is going to happen. If we take a look on Daily frame we can see that after each big bearish candle the next day follows a bigger…Continue
Yesterday USD/JPY formed a Daily big black candle. This is a bearish candle as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trend line, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black…Continue
Added by Martin Kay on May 30, 2013 at 3:40am — No Comments
Australian Dollar / Japanese Yen broke below the up trendline at 99.34, four days ago which is a bearish sign. This up trendline, currently with an ending point at 99.41, may now provide upside resistance.
A Daily black body has formed during yesterday’s trading session with 4 white candles and 6 black candles with a net of 2 black candles for the past 10 Daily candlestick bars . For the past 50 Daily candlestick bars there are 20 white candles and 30…Continue
Does anyone here know where on Internet I can find a good, Live Ichimoku chart for trend spotting?
Trading currencies via online trading platforms has given unique opportunity to retail Forex traders to execute their orders with real time rates so fast and accurate. Even by applying programmed strategies it might be done faster than manual actions to click on sell/buy (soft) buttons. Technology has a key role to make a fast -actually very fast- environment for FX traders.
In this environment opening and closing positions quickly is a popular method which is known in extreme cases…Continue
South Africa's rand touched another four-year low against the dollar, edging loser to the 10.0 mark as weak economic data and labour market tensions weighed on sentiment.
The market was still reeling from the previous day's data which showed growth in Africa's biggest economy slowed more than expected in the first quarter of 2013 as manufacturing output shrunk nearly 8 percent.
The weakness in the rand has been due in large part to domestic factors.
The local currency…Continue
Added by Ron Schelling on May 29, 2013 at 6:25pm — No Comments
Currently we are at 1.4564.. We have multiple tests of the break below 1.4550 and are looking again for another one. A successful break targets the support @ 1.4465 then a continuation to the S5/.500 fibo support @ 1.4450. The current average daily trading range (ATR) is 131 pips.…Continue
Added by Scott Barkley on May 29, 2013 at 12:55pm — No Comments
The AUDCAD has of course been moving down over the past few weeks, and making lower highs and lower lows on most timeframes. However price is currently forming a bullish pin bar setup from a stong level of support.
Check back to…Continue
Added by Andrew Hewerdine on May 29, 2013 at 12:30pm — No Comments
The AUDUSD has been in a constant strong downward movement over the past few weeks, and there's been good money to be made selling this pair.Continue
The Monday holiday in the US meant a slow start to the week, but the lack of activity ended abruptly on Tuesday, as EUR/USD posted sharp losses. The pair coughed up close to one cent after an excellent consumer confidence reading out of the US. The euro has partially recovered on Wednesday, as the pair trades close to the 1.29 line. In economic news, German Unemployment Change looked awful, jumping to its highest level in four years. It’s a quiet day in the US, with the sole event…Continue
Added by Yohay Elam on May 29, 2013 at 10:00am — No Comments
Close my AUD/USD buy @ .9587
With 36 pips profit
Added by jhon elton on May 29, 2013 at 8:47am — No Comments