Hello traders. We all hear so many times that uptrend is when HH/HL are painted and downtrend when LH/LL happen. That sound fairy normal but true is that many traders often ignore or simply forget this simple rule. It is not that easy of course, every swing have some intermediate waves that trader have to filter and recognize only major highs and lows(for any particular TF (s)he decide to trade) - thats what separate regular novice from skilled tactician. But what is often… Continue
Added by Romano on June 6, 2013 at 7:05pm —
Currently we are at 0.8488. We are looking for a continuation to the S3 @ 0.8456 then a bounce up on the Day chart trend line The current average daily trading range (ATR) is 56 pips.…
Added by Scott Barkley on June 6, 2013 at 12:58pm —
Knowing when to enter, and when to exit, a Forex trade can separate good traders from average traders. Keep the following tips in mind in order to enter and exit the market at the right times:
Keep Market Open in Mind Continue
Added by Dan Harrison on June 6, 2013 at 11:12am —
UBS - "Today the European Central Bank and the Bank of England hold their monthly policy meetings. Neither central bank is set to make any changes. But both may still consider further easing under a new governor from July in the BoE's case or if Eurozone sentiment worsens again over the summer in the ECB's case. Continue
For now the euro remains sidelined, trading in a 1.28-1.32 range against the dollar. There are two factors currently supporting the single currency. First, Eurozone data has…
Added by Francesc Riverola on June 6, 2013 at 11:00am —
Deutsche Bank - "another story in the making this year is euro outperformance despite dollar strength. We think this has more to go, with the majority of EUR-crosses trending higher on a multi-year basis. We see three drivers:
First, most of the valuation correction in EUR has taken place. (...) Second, Europe is exhibiting a number of Japan-style dynamics that are beneficial to the currency. (...) Third, the rest of the world just doesn't look that good. Continue
(...) In sum, we…
Added by Francesc Riverola on June 6, 2013 at 10:57am —
Forex trading, more than any other investment area, requires a certain predictive ability and technical acumen that is reliant on careful statistical analysis. In recent years, traders have relied heavily on software packages that aggregate data and exchange rates, creating charts of historical rates that help traders make pre-trade strategic decisions. Two competing packages of software, execution consultation and broker-supplied algorithms, are in competition for the minds (and wallets) of… Continue
Added by Dan Harrison on June 6, 2013 at 10:15am —
Slightly more exotic pair than usual here, with the CADCHF. I'm currently short from 0.9462 with original stop at 0.9550.
Eyeing up a potential reversal at the 0.9030 horizontal support level. Price needs to give me some form… Continue
Added by Andrew Hewerdine on June 6, 2013 at 9:13am —
EURUSD is interestingly trading at its daily highs, now above 1.3100 despite the news that’s IMF admitted mistakes over Greece bailout. Generally speaking, reaction on markets is muted, only gold fell for around $7 or so, towards 1391 level. Continue
Technically speaking EURUSD remains unchanged, still showing possibility of an ending diagonal, now at “do or die” level. We need impulsive reversal down before we can take any advantage of this count. Move in this final stages looks tired so…
Added by Gregor Horvat on June 6, 2013 at 8:00am —
Please look at the graphics ,which shows the critical ranges and support levels.
eurusddaily.png gbpusdh1.png … Continue
Added by Usman Ali on June 6, 2013 at 7:57am —
Added by Carol Harmer on June 6, 2013 at 7:15am —
It seems the inv HNS was there and neck is broken for a 5520ish move..
Added by Tahir Khan on June 6, 2013 at 7:09am —
Added by Carol Harmer on June 6, 2013 at 6:17am —
Euro Dollar / US Dollar broke above the upside resistance level of 1.29, five days ago. This is a bullish sign. A Daily white body has formed yesterday.Three Daily white candles has formed during the last three Daily bars. Although these candles were not big enough to create three Daily white soldiers, the steady upward pattern is bullish.
MACD is currently BULLISH. The MACD is currently above the signal line. The MACD crossed… Continue
Added by Martin Kay on June 6, 2013 at 5:06am —
Another day of consolidation has passed with the price movements just below 1.3100 level. This morning the price is managing to break the 1.3100 resistance but i think that somewhere around 1.3120-30 there will be a reversal and profit taking. Investors will run out of the market waiting for the keywords in Mr.Draghi's speech. If we take a look at the H4 any drop below 1.3060 will take us back to 1.3000 again. Of course a drop to 1.2950 is possible too but this depends on what will focus… Continue
Added by Vladimir Mihaylov on June 6, 2013 at 4:53am —
Added by Carol Harmer on June 6, 2013 at 4:44am —
JPYs pairs broke out of range as most pairs went short particular AUD/JPY and NZD/JPY. Bears are in control as Yen gains strength against major currencies.At current price action AUD/JPY will target next support zones at 93.396- 93.100 and 92.509 - 92.215.
Looking back to start of 2013 shows that these zones can prove to be turning point.
For Intraday traders, Short JPYs as resistance levels .…
Added by Sardar Uddin on June 6, 2013 at 4:35am —
Recommendations: Long positions above 1.3041 with 1.3140 & 1.3200 as next targets.
Alternative scenario:The downside breakout of 1.3041 will call for a slide to 1.2970/40
Description: The pair trades above the main support 1.2940, but it trapped yesterday between 1.3040 and 1.3103 levels, to move higher, it needs to overcome 1.3103, If seen, it would target 1.3140 levels ahead of 1.3200 levels.On the downside , losing… Continue
Added by Haitham653 on June 6, 2013 at 4:00am —
With price cranked 9550 it can slide down to 9518-21 and this holds means we be backing up from the confirmation lvl of the 9550 breakout.. Backing up higher to 9555-60 and u indeed be able to see a god bull movement on it.
Else 9430 is the spot that comes in for buys..
I posted AUD chart earlier...
Added by Tahir Khan on June 5, 2013 at 2:39pm —
Currently we are at 1.6025. We are looking for a small retracement and then a continuation up to the R8 resistance @ 1.6110.. We are bullish. The current average daily trading range (ATR) is 102 pips.…
Added by Scott Barkley on June 5, 2013 at 1:17pm —
After breaking for the first time ever 11 million page views level in April, FXstreet network of sites and mobile added 410,000 page views to reach an outstanding figure over 11.4M page view in May 2013.
On the negative front, we still must highlight the bad performance for second month in a row of FXstreet's Social Site Forexstreet.net. I have already explained the reason in the traffic analysis I made… Continue
Added by Francesc Riverola on June 5, 2013 at 10:30am —