Royal Bank of Scotland - "7 Consecutive weeks of ‘lower lows’ and ‘lower highs’ in GBP/USD; the bias strongly remains that rallies should be sold and the downside target remains the 1.53 level.
A running theme in this currency pair is that the market still seems attracted to this 1.5300 level just as it was In June ’12, January ’12, October’11 and September ’10. This is still the main support level to be aware of and still the level that I think that this GBP sell off will run out of…
Added by Francesc Riverola on February 18, 2013 at 2:14pm — No Comments
From observation here are the most active times of the trading day. They will not always be the most active times of the day in the currency market but they regularly are.
01:00 to 01:30 GMT
06:30 to 07:00 GMT
08:25 to 09:15 GMT
11:30 to 12:00 GMT
13:00 to 13:25 GMT
14:00 to 14:30 GMT
16:00 to 17:00 GMT
19:00 to 19:30 GMT
The frustration of not being around when the market moves or waiting endlessly for action can be…Continue
Added by Brian Kiely on February 18, 2013 at 11:00am — No Comments
EUR/USD continues to remain under pressure following last week’s release of weak GDP numbers out of the Eurozone. Growth rates throughout the Eurozone declined, and fell below market expectations. In the US, the trading week wrapped up on a high note, as consumer confidence and manufacturing data beat the forecast. The G-20 wrapped up its meeting in Moscow, and as expected, issued a mild…Continue
Added by Yohay Elam on February 18, 2013 at 10:33am — No Comments
Added by Francesc Riverola on February 18, 2013 at 10:18am — No Comments
I have presented today during my webinar the expected market moves for this week 18-22 Feb.The recording of the webinar is available in the given below link.
You can view the webinar and understand how forecast,market…Continue
Added by Dr. Sivaraman on February 18, 2013 at 10:17am — No Comments
Added by Francesc Riverola on February 18, 2013 at 9:30am — No Comments
Reviewed: $es_f $nq_f $gc_f $audusd $nzdusd $usdcad $eurjpy $gbpusd $eurusd
A decline from 2008 peak to 2009, 1.3500 low was in five waves, which in Elliott Wave theory indicates a direction of a larger trend. This is called an impulse wave, and once this leg is complete you will see a reversal in price, against the trend, normally into a slow, choppy and overlapping price action which is personality of a correction. Well, this is exactly what has market experienced since 2009 lows. As such, we are very confident that pair made a corrective pattern in wave (B)…Continue
Added by Gregor Horvat on February 18, 2013 at 8:46am — No Comments
As I discussed in my last blog EURJPY and GBPJPY has picked up the momentum however considering monday it is not likely to be so active. Tuesday,wednesday and thursday are the main days of trading for major pairs.
One interesting thing came up with looking at the chart on a 4h scale is AUDUSD is heading towards parity very soon. There has been immense pressure on the pair and the pair has not been able to break above 1.0400…
Added by Rakesh Kumar on February 18, 2013 at 8:31am — No Comments
Recommendation: SHORT positions below 1663 with 1600 & 1550 as next targets.
Alternative scenario: The upside breakout of 1683 will call for a rebound to 1720/50 levels.
Description: After bottoming last week at 1597 levels, rebound could be seen towards 1660 levels before resuming the bearish move towards 1550 levels.However, keep in mind that the precious metal will remain under pressure…
Gold and silver plummeted last week, mainly by the end of the week. The new around the decision of big investors such as Soros and Bacon to reduce their holdings in gold related investments may have contributed to the sharp shift in the direction of precious metals. In Europe, the news regarding the…Continue
Added by Lior Cohen on February 18, 2013 at 7:59am — No Comments
A third update! The EUR/USD is in a very interesting place technically and time-wise, as the US fiscal cliff, take 3 or is it 10, nears. The daily, currently structurally strong, is setting itself up to run LONG again while on the weekly, also currently structurally strong, price has turned sharply down SHORT in a corrective move – a contradiction. This points towards a possible period of choppy, hesitant price action until this tension is resolved. Once the daily…Continue
Added by Kevin Mezzone on February 18, 2013 at 7:04am — No Comments