1- These levels are strong support and resistance levels on short term , the market usually respects those levels strongly.
2- I highly recommend using divergences techniques, to find possible turning point during the week !
3- The recommended time frame , the 1 hour and below.
4- You can also use chart pattern, candlesticks, trend lines and price action to find possible turning point!
5- These levels would help you set realistic targets and exit points, so you…Continue
Added by Haitham653 on July 5, 2013 at 7:31pm — No Comments
UBS - "We have held a negative GBPUSD view for all of 2013, with our key argument being the likelihood of a major monetary policy shift in a dovish direction under the new Carney administration. We reflected this via a short GBPUSD trade recommendation established on 14 Feb (we bought a 6-month 15 Aug expiry 1.4800 strike GBP put / USD call with spot at 1.5500 for 0.9975% of face), arguing that both GBP downside and cable implied volatility were underpriced given the risks involved,…Continue
Added by Francesc Riverola on July 5, 2013 at 3:45pm — No Comments
As shown on the weekly chart below , fall from 1.6380 levels was contained by 1.4830 levels, rebound from 1.4830 levels vanished at 1.5750 levels 61.8% of 1.4830/1.6380 run, now we have 2 options :
1- A break below 1.4830 would suggest that rebound from 1.4830 is over at 1.5750, and fall from 1.6380 will extend beneath 1.4830 towards 1.4400 ahead of 1.3900 levels.
2- A break above 1.5750 levels would suggest that fall from 1.6380 is over at 1.4830, and rebound from 1.4830 will…Continue
Added by Haitham653 on July 5, 2013 at 12:17pm — No Comments
The EURUSD continued to move downward yesterday , topped at 1.3022 and bottomed at 1.2883, today,focus will be on Non-Farm Payrolls , expectations most likely to be below 163 K, If seen , the EURUSD is likely to strengthen towards 1.2970 levels before new sell-off starts towards 1.2700/1.2650 levels.
On the other hand , If NFP is higher than 163K, expect the pair to make small gains before falling towards 1.2700/650 levels.
In all as long as 1.3030/1.3150 levels hold, the pair…Continue
BMO Capital Markets - "Major central banks are adjusting their overall policy stances in relation to the prospects for Fed QE tapering. As a result, they are aiming to anchor their short-term and long-term rates. Effectively, this strategy is developing into a de-facto interest rate spread cap versus USD rates. There will therefore be less room for appreciation of these currencies relative to the USD in the weeks ahead regardless of their economic dataflow, leaving USD/JPY, GBP/USD and…Continue
Added by Francesc Riverola on July 5, 2013 at 10:36am — No Comments
Just some thoughts.
1. EUR/USD will be going south towards 1.20 so a good way to play it is to short the highs from now on.
2. USD/JPY will keep moving up towards 110.00 so just wait for the lows and go long.
3. AUD/USD this is a crazy one but I will share it with you...I see AUD going south for a long time towards 0.75s
so just short the highs.
Good Luck to me 1st and then to some of you...
Added by John D Felton on July 5, 2013 at 9:27am — No Comments
Central Bank President Mario said that the central bank’s monetary policy will “remain accommodative as long as needed”.
He added that rates will stay low for an “extended period of time.” Draghi’s comments came after the ECB held its benchmark interest rate at a record low 0.50% in July, in line with expectations. Goldman Sachs said the ECB "is more likely than not to ease further from here."
Due to important news, Non-Form Employment Change and Unemployment…
Dear Trader. Good morning all!
This is my Prediction for today July, 5:
EJ can go up to 129.75 ,129.95 then down again. EU still in downtrend, but from now, it can go to 1.3015. UJ can go to 100.70, 100.95 before drop again , but i prefer for short today. AU can come back 0.9050, 0.9215 is key for up from now 0.9141. GU will buy near 1.5010. UCA will test 1.0533 as a key for up!(im not trade UCA today), UCHF prefer for short, near 0,9585 , TP near 0.9435. Gold can go to 1253 test key…
The computer mouse is what we also need for our trading.
Of course, today it's different, but the mouse was and still is part of trading for most of us.
Click the Mouse on the picture for more:
Added by Ron Schelling on July 4, 2013 at 6:52pm — No Comments
The EURUSD continued to maintain its bearish momentum last month, topped at 1.3415 and bottomed at 1.2955, now pressure will be on the key support 1.2955, the EURUSD will have to hold below the 1.2955 levels on a monthly closing basis, to push the market for further downside losses, If seen, it will target the 1.2661 levels where a breach will turn focus on the 1.2500 levels, recovery may be seen around 1.2500 levels, but losing 1.2500 on a monthly closing basis will pave the way towards the…Continue
Added by Haitham653 on July 4, 2013 at 4:22pm — No Comments
TD Securities - "We are bearish on EUR/USD. While the Fed appears to be inching towards the QE exit, policy makers in Europe have made it clear that it is premature to even talk about removing policy accommodation which will remain in place for the "foreseeable future".
(...) Eurozone growth trends, especially in the peripheral economies, remain sluggish and EZ unemployment has reached record highs, in contrast to the relatively better macro-economic trends in the US. Peripheral…
Added by Francesc Riverola on July 4, 2013 at 3:10pm — No Comments
UBS - "EURUSD BEARISH With the bear trend intact focus is on the key support at 1.2797. A break below this would suggest scope for further downside. Resistance is at 1.3078.
USDJPY BULLISH Our focus is on the key resistance at 103.74. Downside should be limited with support at 98.16.
GBPUSD BEARISH The pair closed below the key support at 1.5183. This was a strong bearish development, exposing 1.5009. Resistance is at 1.5279.
USDCHF BULLISH Any recovery should be limited with a…
Added by Francesc Riverola on July 4, 2013 at 10:23am — No Comments
Deutsche Bank - "UK data has been unambiguously strong recently, but we remain bearish GBP. First, similar to the yen, we don't think outright growth matters for a currency, but how it translates into flow. For the UK, the odds are stronger data translate into weaker flow.
(...) Second, we don't think better growth numbers will translate into tighter monetary policy either. It is too early to justify a hawkish turn, with the output gap large and both household and government leverage…
Added by Francesc Riverola on July 4, 2013 at 9:56am — No Comments