What Forex Target Traders See: We are currently sitting @ 1.3363. Although currently the 240 trend is down we are approaching the day chart trend line to the upside. We are looking for a bounce at the least and a reversal is certainly possible. The key area IF we get the bounce will be the 0.618 Fibo @ 1.3432. The down target on a continuation is the bottom @ 1.3270. Up target on a breakout is the 1.3569 area. The average daily true range (ATR) for the pair…Continue
Added by Scott Barkley on February 9, 2013 at 4:38pm — No Comments
USDCHF: While USDCHF may have halted its medium term downtrend and turned higher on correction the past week, its declining trendline stands in its way on further recovery. As long as the 0.9290/90 levels hold as supports, a return to the 0.9082 level cannot be ruled out. If this occurs, expect further declines to occur towards the 0.9000 level followed by the 0.8950 level and next the 0.8900 level. Price hesitation may occur here due to its psychological importance. If broken, further…Continue
Recommendation: SHORT positions below 1.3428 with 1.3270 & 1.3150 as next targets.
Alternative scenario: The upside breakout of 1.3428 will call for a rebound to 1.3577 levels.
Comment: With daily MACD crossed below signal line,and breaking below the key support 1.3370 last Friday , bearish momentum breakout has been completed at 1.3370, and a top has been placed at 1.3710 levels,…
Without any further comment:
There u have it Marius, right in your face(and rest of us as well)! Seems we desperately need a change of thinking if we wanna compete with 16y old…Continue
Added by Romano on February 8, 2013 at 7:32pm — No Comments
|FOREX: Currency Spotlight ---Ed Moya
Yesterday, central bankers provided headlines that could help create severe pullbacks in…
Added by DUFFSTUFF on February 8, 2013 at 5:37pm — No Comments
US stocks opened higher after a rally on S&P Futures that was supported by a better than expected trade balance figures from the US (-38.5B vs. -45.7Bexp). S&P500 is at the highs and we need to respect the current price action, so we think that complex wave four which was unfolding for the past few days is complete. We however still want to see daily close price above 1515 today, but our focus however, will be a five wave rally towards 1528-1535 region next week. Any short-term…Continue
Added by Gregor Horvat on February 8, 2013 at 3:34pm — No Comments
Danske Bank - "EUR/USD – trending higher for 1.3833 and possibly 1.4248 further out
Strategy summary - stay long or buy on dips for further gains to 1.3833 and probably higher further out. Suggest placing a stop under 1.3248."
Added by Francesc Riverola on February 8, 2013 at 3:00pm — No Comments
Currently we are at 1.0006 after breaking out of the downtrend. We are looking to the R2 @ 1.0035 as an initial target (might be a small pull back there) and then 1.0059 before the R3 top @ 1.0092. The current average daily trading range (ATR) is 51 pips.…Continue
Added by Scott Barkley on February 8, 2013 at 2:13pm — No Comments
Our analysis for Usd/Cad has been going great. Reached the target with nearly 50 pips profit..
Do let us know if you are interested to know further.
Added by Sardar Uddin on February 8, 2013 at 1:49pm — No Comments
So far Euro has been dropping consistently and we expect it to continue the downward move today.
Added by Sardar Uddin on February 8, 2013 at 1:25pm — No Comments
Last week I mentioned how my Gran made money on the slot machines. She had a great system but it didn’t always hit the jackpot. If you missed the post in a nutshell she would wait for gamblers to walk away after sticking a fortune in a machine without getting anything in return. …Continue
Added by Brian Kiely on February 8, 2013 at 1:06pm — No Comments
Rabobank - "Over the next few weeks we would expect EUR/USD to maintain a more consolidative position and draw a range around current levels. A more significant pullback towards 1.300 in the coming months is a possibility given the potential for Spain, Italy or even Cyprus to remind investors that the Eurozone crisis is still ongoing. Despite our anticipation that EUR/USD could be going lower first, we continue to expect that medium-term EUR/USD will be able to climb higher towards 1.40.…Continue
Added by Francesc Riverola on February 8, 2013 at 12:37pm — No Comments
BBH - "With regards to the euro, bids near $1.3375 appear to have stemmed the rout, at least for the moment. It is not clear yet if the low is in place for the correction. However, we continue to believe this decline is corrective in nature and anticipate the resumption of the euro's uptrend. This is the kind of pullback - more than 2% from the high - that offers opportunities for short- and medium-term participants. The key factor driving the euro higher has been the passive tightening of…Continue
Added by Francesc Riverola on February 8, 2013 at 12:11pm — No Comments
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If I have so many followers is because of you guys as I twitt many of your comments and blog posts... so this small success is yours too :)
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Added by Francesc Riverola on February 8, 2013 at 12:03pm — No Comments
Added by Carol Harmer on February 8, 2013 at 10:11am — No Comments
The recent brutal day trading moves on the eur/usd have caused quite a stir in the FX community as you would expect. I thought I would do a quick update on my own perspective of this having made a post a day or two ago. The chart that really grabbed my interest is the monthly, which if you look at the recent action displays consistent strength across the previous 6 months with a sequence of higher closing highs. This hasn't been the case since the rally at the start of 2011. And let’s be…Continue