EUR has finally broken the consolidation after several up and down moves in a 50 pips range and reached my first LONG target at 1.3475. However bulls' power wasn't enough to continue this move and a pullback occured close to 1.3440 level. this level for now serves as support and another support is 1.3410-15. Below 1.3400 we are going 60 pips down at least and maybe more. On the upside we have resistances @ 1.3490 - 1.3510 -1.3540. Enter long only on H4 close above 1.3570, otherwise use any…Continue
Added by Vladimir Mihaylov on February 13, 2013 at 5:37am — No Comments
In a dull and directionless day when Gold and Pound Sterling was under sever pressure, it was late release of G7 statement that had sparked some life in the market, which saw Yen making almost 1.5 pct gain within minutes. Draghi’s assurance of Spain’s economic recovery gave boost to Euro. But G7 press release on currency about their commitment to market determined exchange rates and that they will make sure to consult closely in regard to actions in foreign exchange markets and that…Continue
Added by asad rizvi on February 13, 2013 at 4:37am — No Comments
FIB EXTENSION from JAN 25th LOW > FEB 5th HIGH
Gives us the FIB extension price of $1631.33 (161.8%) + $1618 (200%)
You could look to sell around $1655 with a target of 200 pips!
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Added by Shaun Powell on February 12, 2013 at 8:47pm — No Comments
The prices of silver and gold continued their downward trend from last week and sharply fell on the first day of the week. Their decline coincided with the depreciation of several leading currencies such as the yen and Aussie dollar against the USD. Will gold and silver change direction and rally this week? On today's agenda: Swiss Inflation report, Great Britain CPI, ECONFIN…Continue
Added by Lior Cohen on February 12, 2013 at 3:50pm — No Comments
We definitely have a proportional inverse relationship here between market volatility and time on site at FXstreet.com.... the more volatility and activity in the market, the less time on site and the less the market moves the more traders spend on the site... as we are now in a period of very low volatility, time on site does not stop to grow.
Last 2 weeks the site jumped for the first time ever above 9 minutes in weekly basis and has remained there, while in daily…Continue
Added by Francesc Riverola on February 12, 2013 at 3:00pm — No Comments
Price action developed alongside the scenario posted yesterday.
Although somewhat overextended, I´m seeing acceptance of higher value areas as I am writing this post (5:43PM, ET). Shorter term, the algos I am currently testing have provided a sell signal.
However, I´m leaning into $97.20, as a better trade location (provided other conditions are met, at that level) - which is POC.
Thus, here are some ideas I am working on…Continue
Added by Demian Pack on February 12, 2013 at 2:17pm — No Comments
Currently we are at 1.3122 after nice trade up form 1.3075 yesterday. A breakout out of the pennant should initially go to the R6 @ 1.3180 with a further target @ 1.3217. The current average daily trading range (ATR) is 124 pips.…Continue
Added by Scott Barkley on February 12, 2013 at 2:06pm — No Comments
One new dance will get start from today...
I think that bears will be in control about euro.
So, as we have read in preliminary analysis the wave will be formed asap.
recommendation: SHORT Eurusd at 1,3450 with target of 1,3270/1,3256 area.
Of course, another eur currencies pairs will be affected.
When the market reach this goal then probably bulls take a new control.
Cheers, take your coffee…Continue
Added by Igor Titara on February 12, 2013 at 1:29pm — No Comments
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Fidelity Worldwide Investment - “The G7 ministers put out a statement today arguing against unilateral FX intervention and explicit exchange rate targets. On one level, this is a slap on the wrist to Japanese ministers talking about specific levels but it allows them to carry on with policies aimed at creating domestic inflation. You could argue the clear FX manipulators out there are the Swiss with the SNB’s Jordan saying today that the…Continue
Added by Francesc Riverola on February 12, 2013 at 12:33pm — No Comments
We have seen EURCHF has raised the bar from 1.2000 level which was last year closing to 1.2200. Currently trading at 1.2338 at the time of writing. The pair has show good growth in the recent days.
Today SNB chairman Jordan indicated that CHF is likely to remain weak against EUR and will get weaker over time. There are rumours in the market that SNB might raise the bench mark for EURCHF as 1.2500 for rest of the year.
Before 2009 Swiss…
Added by Rakesh Kumar on February 12, 2013 at 11:41am — No Comments
I think EURGBP will touch the 0.8800 level again within 3 weeks time. Weakening GBP and strong EUR Will take this pair to 0.8800.
Currently trading at 0.8630 at the time of writing the pair is extremely bullish and all the indicators are showing buying signal. All the moving averages are showing buying signals. Investors are still very optimistic about the pair touching 0.8800 level and buying at every dip.
EURUSD is also expected to touch…
Added by Rakesh Kumar on February 12, 2013 at 11:38am — No Comments
A fresh Drop is Possible for this pair, today we promote this correction provided that 127.40 holds.
Sell below 126.00
Stop Loss 127.70
Take Profit 122.20
Additional thought: i expect Eur/Jpy to make some major correction with the next 13days. cheers!!!
Added by victor charles on February 12, 2013 at 11:35am — No Comments
EUR/USD continues to trade quietly, continuing the trend we saw on Monday (February 10th). The euro has had a tough time trying to stay above the 1.34 line, and is trading in the 1.3370 range. With little happening as far as economic releases in both Europe and the US, Tuesday’s highlight will be a speech by ECB head Mario Draghi, who will address the Spanish Parliament in Madrid. In the US, the…Continue
Added by Yohay Elam on February 12, 2013 at 11:01am — No Comments
HEre Is my EUR/GBP H1 chart
I have drawn a Fibonacci from FEB 1st Highs, down to 8th FEB
would look for a bearish reversal pattern and a close below 0.8610 to take a sell position.
Attempted to sell this pair yesterday but was stopped out,
Lets see what price action shows…
I once was dizzy from information overload. Astronauts, fighter pilots and submarine captains had less information at their disposal than I.
In those days, I had a dealing room position with eight screens and more systems that I could shake a stick at. It was not my choice. I took over from someone would designed this set up.
A few years into the job, I moved locations in the dealing room a number of times. With every move I cut back on the number of screens in front of…Continue
UBS - "We believe euro bulls should buy euro crosses like EURGBP and EURJPY rather than EURUSD. First, the Fed is set to end quantitative easing this year. Second, Eurozone policymakers are more apt to comment on sharp EURUSD rises rather than increases in the other euro crosses. This was demonstrated by French President Hollande arguing 'the euro should not fluctuate according to the mood of the markets' and by European Central Bank President Draghi saying 'the exchange rate is not a policy…Continue
Added by Francesc Riverola on February 12, 2013 at 10:02am — No Comments
National Australia Bank - "Key trade ideas:
We’d buy EUR/USD at 1.3275, the base of the post-Jan ECB trading range. Our stop on this position is 1.3170; just below the uptrend drawn off the July USD1.2043 low.
We recommend re-entering a long EUR/GBP position at GBP0.8375, looking for a return to 0.8600.
Our short AUD/CAD entry point at 1.0550 was missed by a very frustrating 30 pips. We are neutral at current levels but would look to idiosyncratic CAD weakness as an…
Added by Francesc Riverola on February 12, 2013 at 9:54am — No Comments
JPY was pushed lower again while Japanese shares soared after a Bank of Japan member said that more monetary easing could be justified later this year. USDJPY reached levels around 94.40 but we see an incomplete impulse from 92.15 swing low which means that pair should continue higher. We expect at least one more push up as current pull-back appears to be corrective black wave iv. Support for the pair comes in at 93.60/70.…Continue
Added by Gregor Horvat on February 12, 2013 at 9:29am — No Comments