Rally on EURUSD from 1.2750 can be counted in three legs with decreasing momentum in last part of the uptrend. We think that move was corrective, an A-B-C pattern that is pointing lower now against recent 1.3345 high. Ideally market will make a larger impulsive decline, but based on minimum expectations we expect a three wave retracement back to 1.3000-1.3100.…
Added by Gregor Horvat on August 2, 2013 at 8:25am — No Comments
I think Ben Bernanke is a genius. The US economy needed a stimulus, but since its economy was consumer based government initiatives wouldn't help. So he did something else...
By manipulating gold prices to immense levels, he created a baseline for stimulus debt since US government had 8000 tons of gold, the price increase would easily cover the debt for stimulus. That was the first part.
The second was about the 150000 tons of gold world had. The sudden price increase created…Continue
The USDJPY maintained a bullish momentum yesterday , bottomed 97.65 and topped at 99.56, now pressure will be on the 99.56 levels, the USDJPY will have to hold above the 99.56 levels on a daily closing basis to push the market for further upside gains, If seen it will target the 100.45 levels, a halt is strongly suggested and we might see a resume to the whole fall from 101.52 towards 97.00 levels, but break of 100.45 will target the 101.52 levels, above 101.52 will have large bullish…Continue
Added by Haitham653 on August 2, 2013 at 7:41am — No Comments
Yesterday all the instruments hit their TP as per my recommendations, look at today analysis.
Instrument Trend Recommendation 02-08-2013
EUR/USD Sell below 1.3220,TP1.3175/50,SL1.3250
Sell below 1.5130,TP1.5075 ,SL1.5155
Sell limit 1295,TP1275/65,SL1303
Buy above 99.50,TP99.80/100 SL98.20
Sell below 108.50, TP 108/107.75 ,SL108.90
Mr.Draghi did not say anything new, but only repeated his previous statement. The key phrase was that the interest rate will be kept at this level or lower for an extended period of time. However the market showed no reaction till now, the price has bounced from the 1.3260 resistance but the downside was capped by 1.3205. The false break to 1.3190 was short lived and the price quickly returned above the 1.3205 support. Yesterday's ISM release was a lot better than expected but despite that…Continue
Added by Vladimir Mihaylov on August 2, 2013 at 5:21am — No Comments
Added by Muthusamy on August 2, 2013 at 3:11am — No Comments
Added by Muthusamy on August 2, 2013 at 3:09am — No Comments
The GBPJPY maintained a bullish momentum yesterday , bottomed at 148.23 and topped at 150.66, now pressure will be on the key resistance 150.66, the GBPJPY will have to hold above the 150.66 levels on a daily closing basis to push the market for further upside gains ,Is seen It will target the 152.82 levels where a breach will turn focus on the 154.00 levels.
Alternatively , a failure to hold above the 150.66 levels could mean a return to the 148.23 levels, losing this level will…
Added by Haitham653 on August 2, 2013 at 12:57am — No Comments
gold rejected 38.2%fib on 1348 and moved back to strong zone defended by buyers(1305/10) so tomorrow if good data comes up for u.s.a then i expect first spike to 1290 and next to 1270 depence on data but my target for next week should around 1250..eu for now bearish momentum.on daily price bounced from 1.3344 where was top trend line which been defended by sellers .for now this moment i looking for good ressistance and want to sell with target 1.3165 if break next should be 1.3130/35 and…Continue
Added by gregorian on August 1, 2013 at 9:03pm — No Comments
Retail trading a growing force in forex
Prue Moodie at Financial Review
There are no precise estimates of the split between retail and institutional activity in the Australian foreign exchange market. But this year, as part of the Bank of International Settlements’ 2013 triennial report on global…
Deutsche Bank - "Our positive dollar view has been driven by two factors over the course of the year. First, the re-pricing of the Fed. The market was pricing a rate path that was even more dovish than the FOMC's own projections at the beginning of the year. This has now corrected, with June 2016 Fed funds inside the 1.3-1.8% range of dovish Fed Taylor rules. Second, flows. While US portfolio inflows remain weak, the big driver has been a surge in short-term flows, a combination of cash,…Continue
Added by Francesc Riverola on August 1, 2013 at 3:37pm — No Comments
Currently we are at 0.7943 after the break of the trend. We are looking for a bearish continuation to the Day chart Trend Area @ 0.7860-75 area. Watch for a bounce there. The average daily true range (ATR) for the pair currently is 109 pips.…Continue
Added by Scott Barkley on August 1, 2013 at 12:33pm — No Comments
The new month of August has greeted the markets with plenty of action, as EUR/USD is showing some volatility in Thursday trading. The pair crashed below the 1.33 line and is trading in low 1.32 territory. In Eurozone releases, Italian and Eurozone Manufacturing PMI’s beat their estimates, but Spanish PMI fell below the 50-point level. Later today, the ECB releases its rate statement, with a…Continue
Added by Yohay Elam on August 1, 2013 at 9:26am — No Comments
The EURUSD maintained a bullish momentum yesterday , bottomed at 1.3207 and topped at 1.3344 levels , but momentum indicators show that the pair has lost some of its upside momentum , now pressure will be on the key support 1.3207.
The EURUSD will have to hold below the 1.3207 levels on a daily closing basis to push the mark to the downside ,If seen , it will target the 1.3165 levels where a breach will turn focus on the 1.3082/1.3065 levels, below 1.3065 will look for the 1.3000…
Added by Carol Harmer on August 1, 2013 at 8:05am — No Comments
*** Intra-Daily Trading Strategy: BUY Australian Dollar / US Dollar
Buy Target: 0.8970
Buy Stop: 0.8889
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…Continue
Added by Martin Kay on August 1, 2013 at 7:43am — No Comments
AFTER A GREAT MOVEMENT YESTERDAY and A GOOD PROFIT AS PER MY PREDICTION, LOOK AT TODAY ANALYSIS AND MAKE HEAVY PROFITS.
Instrument Trend Recommendation 01-08-2013
EUR/USD Sell below 1.3275,TP1.3230/3200,SL1.3305 ,BOB1.3310
Sell below 1.5185,TP1.5130/5100 ,SL1.5212 ,BOB1.5218
Sell below 1325,TP1315/10,SL1330,BOB1332
Buy above 98.35,TP98.80/99 SL98,BOS 97.90
Added by Usman Ali on August 1, 2013 at 6:30am — No Comments
EUR has moved in both directions yesterday as in the end of the month such volatility is normal. This figured out the main support and main resistance levels. Main support is 1.3210 and main resistance is 1.3345. Today the market will look for any hints about the next rate cut by mr.Draghi at the ECB's pressconference. My technical outlook doesn't seem so bullish. I think it is time to test 1.3050 once again and maybe to drop below. Since 16.06 we are not able to record a new top, so i think…Continue
Added by Vladimir Mihaylov on August 1, 2013 at 4:26am — No Comments