The EURUSD flew the last Thursday , 14th of March 2013 as a result of the European summit , definitely what happened behind the scene , was the reason behind that rise !
Anyway, I won't talk about details, but I think the main reason behind that rise is that the new draft budget was rejected by the European Concoul, basically I think they decided to hold the discussions till the next summit on the 22th of May 2013 to make their final decision.
However, next summit will decide… Continue
Added by Haitham653 on March 17, 2013 at 10:10am —
A picture paints thousand words, so I tried to make my words as simple as possible.
Hope you can spot the simplest thing in the chart: number 3 and 8, which have been 1.68, 1.63, 1.58, 1.53, 1.48, 1.43, and 1.38. These are most liquid levels of GBP/USD in the long term.
After a decent plunge, the pair reversed in March 2009, and it was an express journey to 1.68 without any significant correction. After that period, GBP/USD has been range bouncing within above levels. 1.68… Continue
Added by Cho Xom on March 17, 2013 at 8:52am —
EUR/USD had a yo-yo week, finally breaking the triple bottom but eventually emerging as a winner. Has the single currency turned a corner, or is it a correction before the next fall? Key German surveys and PMIs are the highlights of this week. Here is an outlook on the main market-movers ahead.
Last week … Continue
Added by Yohay Elam on March 17, 2013 at 4:38am —
Nice weekend, traders!
This weekend is so boring that I decided to look at some chart instead of going out. Here is the weekly chart of EUR/USD.
As shown, from March 2009, each trend consists of 3 major waves: 1 2 3 highs (reversed in Nov 2009), then 1 2 3 lows (bottomed in May 2010), then 1 2 3 highs (topped in May 2011), then 1 2 3 lows (reversed in Jul 2012). After this point, we could fence the pair within the green trend line (connecting lows) and the red trend line… Continue
Added by Cho Xom on March 17, 2013 at 4:08am —
GOLD -- HIGHER
Trust me Shaju, as of 40 mins back I was looking forward to 1530.. Put it this way I have been short 1598 since past 3-4 days.. looking for a 1560 break fora 1530ish goodie.. I had been scratching my head what's going on..
I just did a fresh layout on daily and 8 hrs.. 8 hrs is pretty much same I did some 6-8 weeks back when gold was…
Added by Tahir Khan on March 16, 2013 at 8:30pm —
The Gold was contained by the falling support of the downward channel, with the key support 1575 intact, rebound to the upside is strongly suggested, break of 1600 will confirm short term bottoming at 1555 and target the falling resistance line of the downward channel around 1650 levels.On the downside, sustained break below the key support 1575 may expose 1555 and pave the way to 1540/1500 levels.
The Silver was also contained by the falling support of the downward channel, with the… Continue
Added by Haitham653 on March 16, 2013 at 6:22pm —
Rabobank: "GBP: If there were ever any doubts over whether the UK economy was facing a difficult 2013, recent poor economic developments have put paid to any further discussion. Following a sharp decline since the start of this year, the outlook for sterling is now dominated not by the question of whether the pound faces economic headwinds but instead by doubts at the whether or not these are yet fully priced in. UK commentators have been warning of the risks of a triple dip recession, bad… Continue
Added by Francesc Riverola on March 16, 2013 at 4:41pm —
What Forex Target Traders See: We are currently sitting @ 1.3058 after a breakout of the down trend wall. We still need to put a bottom in on this new trend so watch for the pullback first and then the bounce for the move to the R4 resistance @ 1.3152. A false breakout to downside targets the double bottom @ 1.2911. The average daily true range (ATR) for the pair currently is 114 pips. …
Added by Scott Barkley on March 16, 2013 at 4:08pm —
The EURUSD maintained a bullish momentum the past few days after bottoming at 1.2910 levels, pressure now will be on the key resistance 1.3190 ,EURUSD will have to hold above 1.3190 on a daily closing basis to push the market for further upside gains, if seen this scenario could push the market further higher towards the 1.3370 levels, where a breach will turn focus on the 1.3577 levels, further break above 1.3577 will expose 1.3710 and target 1.3850.
Alternatively,A failure… Continue
Added by Haitham653 on March 16, 2013 at 3:35pm —
USDCHF- A serious blow has been dealt on USDCHF’s recovery triggered from the 0.9021 level as it reversed its previous week gains to close lower on Friday. On a hold below the 0.9388 level, risk of further downside will develop towards the 0.9230 level and possibly the 0.9150 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, for the pair to reverse its present weakness and resume its short term uptrend, it will have to break and hold above the 0.9566… Continue
Added by fxtech on March 16, 2013 at 1:57pm —
The average on the 6 major pairs against the US Dollar has dropped in the last 4 sessions, from very strong to neutral.
For more click on the chart:
Added by Ron Schelling on March 16, 2013 at 10:57am —
Deutsche Bank - "USD strength has played out unevenly across Asian FX. Regional currencies can be grouped into three categories reflecting the distance from their post-crisis highs against the USD. The first group (CNY, PHP and THB) is trading at or very near their highs, with currencies benefiting from strong structural stories or supportive policy biases. The second group (SGD, TWD, KRW and MYR) began to struggle only this year, succumbing to yen weakness and broader USD headwinds. The… Continue
Added by Francesc Riverola on March 16, 2013 at 9:04am —
UBS - "Sterling is likely to be the biggest mover in the week ahead. On Wednesday, Bank of England Monetary Policy Committee minutes are released while, separately, the UK Budget may announce a review of the central bank's inflation target. We expect this will cause the pound to weaken. Continue
(...) This week's key points are:
- dollar bulls should check the FOMC's new forecasts
- PMI data key for euro in the week ahead
- new BoJ leadership approved, still buy USDJPY…
Added by Francesc Riverola on March 16, 2013 at 8:48am —
Whether it is an interesting story but it gives hope that it is possible for us retail traders
@ Jasmin,,, ps promise you never ever ever shout you mouth, I hope this story can be an inspiration to you .. since she has done what you dream or rather what we all dream about
Karen went from her day-job as a CFO to a trader and turned $100,000… Continue
Added by pandora on March 16, 2013 at 7:06am —
I haven't been too busy on here lately so thought it may be time come in and talk about what I am working on atm and a few other general trading things. I actually was in Peters blog http://www.forexstreet.net/profiles/blog/show?id=3252082%3ABlogPost%3A477681&xg_source=activity&page=1#comments earlier today so that i could log… Continue
Added by Indy on March 15, 2013 at 10:09pm —
Goldman Sachs -
Added by Francesc Riverola on March 15, 2013 at 3:02pm —
TD Securities - "Upcoming Week: Continue
1. 2013-14 Budget (Wed 20 Mar): We expect the OBR’s
forecasts to judge that most of the weakness in the UK
economy is cyclical but expect the PSNCR forecast for
2013/14 to be revised up from £161bn to £163.3bn.
2. BoE Minutes (Wed 20 Mar)
3. Retail Sales (Thurs 21 Mar)
1. Italian Politics (ongoing)
2. Flash PMIs (Thurs 21 Mar)
3. EU Leaders’ Summit (Thurs-Fri…
Added by Francesc Riverola on March 15, 2013 at 2:52pm —
Currently we are at 145.65 @ the .214 Fibo. The overall target is the R7 @ 147.74. Expect a pullback and then a move above 145.85. A good target for today (triple witching day) would be the 146.00 before the square up. The ATR (Average True Range) for the pair currently is 155 pips.…
Added by Scott Barkley on March 15, 2013 at 12:59pm —
Rabobank - "BoE Governor King may have had a preference for more QE at last month’s policy meeting but his remarks yesterday suggest that he has become unsettled by the extent of sterling’s drop this year and potentially by the accusation that he has specifically tried to weaken the pound. If the MPC do judge that the falls in sterling in recent weeks have been ‘too far too fast’ there is reason to expect that the committee may collectively decide to delay further policy stimulus. This… Continue
Added by Francesc Riverola on March 15, 2013 at 12:21pm —
Westpac - "EM Asia: USD/KRW: Risks to USD/KRW still appear skewed to the upside and while we should see more selling interest emerge in the pair on moves above 1120, it certainly doesn't fell like we have reached a top yet. Continue
USD/SGD: We maintain our bias to buy dips in USD/SGD. Data momentum remains soft and if next week's inflation data is benign, we see scope for easier policy at the April MAS meeting. We would look to…
Added by Francesc Riverola on March 15, 2013 at 12:06pm —