Last week in one of my post I had pointed out that Bundesbank President Weidmann has rung the alarm bell with his statement that ECB is flexible, which means that it is now close to a rate cut, as poor economic data is not sustainable. NEXT MPS… Continue
Added by asad rizvi on April 21, 2013 at 6:48pm —
EURUSD: While EUR may be vulnerable to the downside following its past week loss of upside momentum, it continues to hold onto most of its recovery gains off the 1.2750 level. However, to restart that recovery, it will have to recapture the 1.3198 level. If this occurs expect the pair to strengthen further towards the 1.3250 followed by the 1.3318 level. Its weekly RSI is supportive of this view. On the downside, support comes in at the 1.2967 level. Below here will risk a return to the… Continue
Added by fxtech on April 21, 2013 at 3:09pm —
GBP/USD lost about a cent on the week, as the pair closed at 1.5230. This week’s highlight is Preliminary GDP. Here is an outlook of the events and an updated technical analysis for GBP/USD.
British data continues to worry the markets. Although unemployment claims fell nicely, this was offset by an increase in the unemployment rate. Retail Sales dropped sharply, and CPI continues to be high, running at close to 3%.
GBP/USD graph with support… Continue
Added by Yohay Elam on April 21, 2013 at 2:17pm —
USD/JPY had a roller coaster week, trading in a range of 400 pips. After the G-20 meetings, will the pair break above 100 this time? Tokyo inflation data and the rate decision are the major events this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
The G-20 meetings said they will be “mindful” of side effects of monetary policy. …
Added by Yohay Elam on April 21, 2013 at 1:27pm —
The average on the 6 major pairs against the US Dollar.
For more click on the chart:
Added by Ron Schelling on April 21, 2013 at 11:50am —
EUR/USD had an exciting week, rising to highs at first and eventually ending the week lower. Purchasing managers’ indices from France, Germany and the EU, as well as the German Ifo Business Climate are the highlights of this week. Here is an outlook for the events moving the single currency and an updated technical analysis for EUR/USD.
The rise was mostly based on the difference… Continue
Added by Yohay Elam on April 21, 2013 at 5:24am —
EUR - Pattern suggesting a drop most likely to 2900...... EJ N UJ along with it......
EUR 4 hrs and with Friday high we possibly be having a RS in for the double head HNS..
Pretty much description within the chart itself..
EUR 30 mins would be an early sign provider especially if the price fails to head higher to 3090ish while getting close enuf to…
Added by Tahir Khan on April 20, 2013 at 10:35pm —
As usual I have been looking the charts this weekend and for a change started to look at the weekly time frame. I found several that look rather appealing. See below USDJPY. The uptrend is obvious even without looking at a chart, but the pin bar surely is an invitation to go long. If we had looked at this last week, the invitation to go short was equally clear and the price did fall by about 235 pips.
But I have never traded off a weekly chart before, just have this feeling that the… Continue
Added by Oasis on April 20, 2013 at 8:24pm —
What Forex Target Traders See: We are currently sitting @ 1.3059 in a sideways move . We are looking at this current move as a bear flag so looking to get long near the .500 Fibo @ 1.2945 area but we could get a fall to the .618 @ 1.2900 before the bounce. We can see a head and shoulders pattern in force. The average (14 day) daily true range (ATR) for the pair currently is 109 pips. …
Added by Scott Barkley on April 20, 2013 at 3:02pm —
USDCHF – While USDCHF may have halted its declines and turned higher to close the week on a positive note, bear threats are not over yet. Except its builds up on its last week gains, there is risk of a return to the 0.9205 level with a turn below here turning attention to the downside towards the 0.9150 level. Further down, support stands at the 0.9100 level and then the 0.9000 level. Its weekly RSI is bearish and pointing lower supporting view. Conversely, USDCHF will have to violate…
Added by fxtech on April 20, 2013 at 2:16pm —
I think that euro is going to be sold it for a couple of days or maybe hours. Why? because the next wave (E) is pointing to down. At least, in our theory..
If this gartley is correct so we shall see some higher lows. Probably to 1,2975 and 1,2930 and 1,29.
If 1,3000 is going to be broken so, the bearish pattern could be confirmed.
Remembering that at final of April month i am expecting eur/usd reach 1,32-1,33 level before to fall again. Its… Continue
Added by Igor Titara on April 20, 2013 at 12:12pm —
Recommendations: SHORT positions below 1.3147 with 1.3020 & 1.2930 as next targets. Continue
Alternative scenario: The upside breakout of 1.3147 will call for a rebound to 1.3190/280.
Description: A short term top has been placed at 1.3200 levels, next resistance is at 1.3147 levels, so as long as 1.3147 holds on a 4 hour closing basis, look for further downside losses towards 1.3020 ahead of 1.2930…
Added by Haitham653 on April 20, 2013 at 9:09am —
USDJPY: With a rally seeing the pair strengthening further during Friday trading session, further upside offensive looks to target the 99.94 level. Above here is required to resume its medium term uptrend towards the 100.50 level. We may see a pullback from here but if broken, further upside could follow towards the 101.00 level and then the 101.50 level. Its daily RSI is bullish and pointing higher suggesting further upside. Support comes in at the 97.63 level where a violation will target… Continue
Added by fxtech on April 19, 2013 at 7:31pm —
Brown Brothers Harriman - "The krona is poised to correct higher against the US dollar in the week ahead. We look for the dollar to be pushed lower from the SEK6.50 area currently to SEK6.41-SEK6.43 in the near-term. The euro is looking more resilient against the krona. The euro-SEK chart has a downtrend line drawn off the mid-Dec high and the highs from the second half of January that comes in now near SEK8.50. This offers initial support but additional support is seen near SEK8.48… Continue
Added by Francesc Riverola on April 19, 2013 at 3:26pm —
Currently we are at 129.77. We are at the first wave R6/.214 Fibo and looking for a continuation to the double 1.270 Fibo @ 130.87 and then the third wave R6 @131.13. We are bullish. The current average daily trading range (ATR) is 200 pips.…
Added by Scott Barkley on April 19, 2013 at 12:58pm —
Bank of America Merrill Lynch - "The BoJ’s intention to double the monetary base has reignited optimism on EMFX appreciation. Already going into the year, we disagreed with a consensus that saw a “Great Rotation” into equities as bullish for EMFX; we argued that higher US rates would be a headwind for many emerging markets. So far this year, only the Mexican peso (a US proxy) and the Thai baht have materially appreciated vs USD; (...) Now we disagree again, as we believe there are two key… Continue
Added by Francesc Riverola on April 19, 2013 at 11:49am —
Societé Generale - "After the yen, we are now seeing the demise of another asset that had performed very strongly throughout the financial crisis. What's next? Treasuries, we think, but only when the US economy picks up again this summer. Continue
Nuclear action from the BoJ and the heavy commodity price correction are adding pressure on European central banks to ease. This will be a focus this spring, at the expense of the GBP and EUR. The Riksbank has already turned more dovish: a good time to…
Added by Francesc Riverola on April 19, 2013 at 11:26am —
Amazing... I take my hat off... well done guys!
MetaQuotes Announces 1,000,000 MetaTrader Mobile Users
By Forex Magnates
MetaQuotes has announced that it has hit the 1… Continue
Added by Francesc Riverola on April 19, 2013 at 11:17am —
Rabobank - "The weakness of growth in the Eurozone is likely to be highlighted by next week’s round of April PMI data. Insofar as this is set to stir speculation that the ECB could cut interest rates in the coming months, the EUR is likely to be on the back foot. That said, US data has recently disappointed. Yesterday’s releases of Philly Fed and leading indicators were plainly subdued. These follow weak March retail sales and payroll data releases earlier in the month. As a consequence of… Continue
Added by Francesc Riverola on April 19, 2013 at 11:11am —
After taking the markets for a wild ride mid-week,EUR/USD has settled down, and was trading in the high-1.30 range in the European session. German inflation numbers disappointed, but the Eurozone Current Account was outstanding. In the US, the grim news continues, as Unemployment Claims and the Philly Fed Manufacturing Index missed their estimates. There are no economic releases out of the US on… Continue
Added by Yohay Elam on April 19, 2013 at 9:53am —