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
US Dollar / Japanese Yen broke above the down trendline at 100.77, four days ago. This is a bullish sign. This down trendline, currently with an ending point at 99.73, may now provide downside support. If trading US Dollar / Japanese Yen, place a stop loss just below the down trendline, in case the breakout is premature. Prices having only risen 1.39% since the breakout, the validity of the breakout is questionable. The most recently confirmed up trendline for US Dollar / Japanese…Continue
Added by Martin Kay on May 15, 2013 at 6:23am — No Comments
Recommendations : SHORT positions below 1.2956 with 1.2890 & 1.2850 as next targets.
Alternative scenario : The upside breakout of 1.2956 will call for a rebound to 1.3010/50.
Description : The pair maintained a bearish momentum yesterday,stability below 1.2956 levels will keep the pair under pressure with risk towards 1.2890/1.2850 levels, on the upside , an hourly close above 1.2956 will delay the bearish scenario and…Continue
MACD and Stochastic indicators from the Monthly and Daily Time frame heading upwards direction, this indicates strong movement upside at least for today. Therefore the second candle should form by the end of the day with a conservative target at 1.02XX. Although there might be correction along the way, but the second bullish candle should be there.…Continue
Usd/jpy has penetrated the historical 102 line. This is important news because it means the pair is literally within 102-130 range. I believe the japanese are thinking to lead the currency war now. Possible events are fed reaction to this determination. There is range towards 105's but feds reaction might come at any point so longing here is risky. It is better to wait 95-99 levels to long the pair although scalping option is always open.
Fed will probably react by manipulation of…Continue
I take no responsibility and claim that these trades would Result in profit.Sound Money management is Required.
After a very fast decline over the last week, NZD/USD has attracted my attention...
NZD/USD fell to a low of 0.8180, which could form up with a the two most recent lows on the daily chart I have here. There could be a triple bottom…Continue
Amazon launched its own digital currency,
Amazon Coins allowing people to buy apps and games in its app store and on its Kindle Fire tablet computers.
For more click on the picture.
Added by Ron Schelling on May 14, 2013 at 5:30pm — No Comments
TD Securities - "We have upgraded our outlook for the USD across a broad front. We are adjusting our views to reflect some market developments that have occurred a little more rapidly than we had expected (such as the push up in USD/JPY). But we are also recognising the emergence of some trends that we feel support our long-held view that the USD’s secular bear trend is very mature and is poised to show signs of a further recovery.
(...) We have upgraded out USD/JPY forecast to reflect…
Added by Francesc Riverola on May 14, 2013 at 3:02pm — No Comments