Currently we are at 1.2608. If we can break the 1.2600 psychological level look for a continuation 3rd wave 5th support @ 1.2539 then maybe the 1.2500 . The current average daily trading range (ATR) is 110 pips.…Continue
Added by Scott Barkley on March 13, 2013 at 1:07pm — No Comments
If you were thinking into attending New York's FXIC on March 20th 2013, here you have some last call information for you.
Next week on March 20th FXIC 2013 will take place in NYC. Over 300 industry professionals have confirmed their attendance including 60+ buy side hedge funds. Keynote speakers will include Jim Trott, the former Chief Dealer at…Continue
Added by Francesc Riverola on March 13, 2013 at 12:51pm — No Comments
This looks like the most solid signal so far today. GBPUSD BUY at 1.4969, I would disregard the TP, looks like it would go further than that.
Added by Metaneural Trading Systems on March 13, 2013 at 12:30pm — No Comments
Societé Generale - "(...) now UK economic surprises are at almost their most negative level ever suggesting we are closer to a turning point. Surely Carney will do what must be done to ease so that event is yet to happen. The question is how far we could run to the topside in EURGBP before it peaks. From a valuation point of view, we are unsurprisingly getting to extremes as is typical in a regime break. The models then tend to follow and lag spot. More importantly, we moved to the more…Continue
Added by Francesc Riverola on March 13, 2013 at 12:00pm — No Comments
Currently EURUSD is pushing the price to 1.3000- 1.2990 area with resistance @1.3030, after the down move from 1.3064 to 1.3000 before US Retail Sales which can be the catalyzer for next big move. I'm looking for a break of 1.2990 to the down side and break of 1.3030 to the up side. The pair may stay in this range till US Retail sales, but is not necessary. If the number is better than expected the pair will have a reason to continue the down trend with targets 1.2880 and even 1.2800, If the…Continue
Added by Georgi Vukov on March 13, 2013 at 11:15am — No Comments
USDJPY: Corrective pullback is now underway but USDJPY continues to retain its broader medium term uptrend. In case of further correction we expect its key support at the 94.45 level to cap declines and turn it higher. However, if this is seen, the pair is expected to retarget the 96.70 level where a breach will aim at the 97.50 level and then the 98.00 level. On the downside, support resides at the 95.00 level where a break will target the 94.45 level. A reversal of roles is likely to occur…Continue
Added by fxtech on March 13, 2013 at 11:10am — No Comments
Brown Brothers Harriman - "Price action: The main characteristic of the global capital markets is one of consolidation. EUR/USD is trading at 1.3015. The two weakest currencies against the dollar, sterling and the yen, are trading firmer today. Sterling, which finished the North American session on a firm note after falling to new 3-year lows, saw follow through short-covering, which lifted it to a three day high of 1.4970. After running out of steam in Asia on Tuesday, profit-taking saw the…Continue
Added by Francesc Riverola on March 13, 2013 at 11:01am — No Comments
As shown on the daily chart below , according to momentum indicators bullish momentum is under development , but a daily close above 1.3160 is indeed to push the pair towards 1.3300 levels, On the 4 hour chart, the pair is trapped between 1.2965 and 1.3133 levels, a clear break above 1.3133 will confirm bottoming and open the way to 1.3318 levels, but in return a clear break below 1.2965 will resume the bearish trend towards 1.2800/1.2750 levels,On the 1 hour chart the pair is trapped…Continue
EUR/USD is showing some volatility in Wednesday’s European session. The pair has moved lower after a senior member of the ECB hinted that an interest rate cut could be in the cards. In today’s economic releases, French data disappointed, as Final Non-Farm Payrolls and CPI fell below market expectations. The markets will be keeping a close eye on Eurozone Industrial Production. In the US, there are…Continue
Added by Yohay Elam on March 13, 2013 at 10:56am — No Comments
Rabobank - "While we revised up our USD forecasts modestly on the back of last Friday’s better jobs data, relative to the consensus, we remain cautious on the outlook for the USD going forward. In his recent testimony, Bernanke made it very clear that he was concerned about the impact on growth from fiscal headwinds. He warned that budgetary consolidation that was currently drawn into law in the US could equate to the loss of 750K potential jobs this year. This tone implies that the Fed will…Continue
Added by Francesc Riverola on March 13, 2013 at 10:48am — No Comments
ANZ - "When the US dollar strengthens against major currencies, USD/Asia typically follows suit. However, this correlation has broken down in recent weeks. Despite the broad based strength in the US dollar, as measured by the DXY Index, USD/Asia has stayed relatively steady. Since early February, the DXY has risen by 4.2% but USD/Asia has only seen a marginal 0.1% increase.
In our view, the reason for the correlation breakdown is the positive performance of global equities, reflecting…
Added by Francesc Riverola on March 13, 2013 at 10:41am — No Comments
Added by David Pegler on March 13, 2013 at 10:39am — No Comments
Danske Bank - "USD/JPY LONG AT 95.65 FOR 96.71 OBJECTIVE, STOP 94.95 S4 94.77 S3 94.95 S2 95.25 S1 95.50 R1 95.69 R2 96.11 R3 96.27 R4 96.71
GBP/USD SHORT AT 1.4910 FOR A 1.4767 OBJECTIVE, STOP AT 1.4970 S4 1.4767 S3 1.4803 S2 1.4822 S1 1.4832 R1 1.4970 R2 1.4985 R3 1.5016 R4 1.5047
Gold Spot BUY AT 1589.00 FOR 1619.65, STOP AT 1574.00 S4 1554.35 S3 1560.80 S2 1574.00 S1 1579.65 R1 1592.70 R2 1614.50 R3 1619.65 R4 1625.80"
Added by Francesc Riverola on March 13, 2013 at 10:30am — No Comments
Bank of Tokyo-Mitsubishi - "The US data has impressed, which has been helping the dollar but our view
is that this impressive run of data may be less so over the coming months as the payrolls tax, the sequester and rising gasoline prices eat into discretionary spending power. The IDB/TIPP Consumer Confidence fell sharply last week and gasoline prices advanced 16% from the middle of January to the middle of February raising the risks that consumer spending takes a hit. The retail sales…
Added by Francesc Riverola on March 13, 2013 at 10:12am — No Comments
That’s very interesting price action on GBPUSD; where a five wave pattern could be unfolding from the lows, so we are wondering if we have seen low on this pair. However, we always want to see daily close price to confirm a direction for the coming day or two. If market stays bullish, with a daily close above the falling trend-line connected from 1.5845 then we will be looking higher for a deeper corrective pull-back, possibly even back to 1.5000. A fall back beneath 1.4880 will open door…Continue
Added by Gregor Horvat on March 13, 2013 at 9:47am — No Comments
Goldman Sachs - "Given the move down in sterling and the fall in real interest rates we raise our FTSE 100 targets, to 6,600, 6,800 and 7,200 over 3, 6 and 12 months respectively. Our previous targets were 6,200, 6,300 and 6,500 respectively. Our revised 12 month target gives a price return of 10% from current levels and would put the UK market above its previous peak of 6930. Although measuring the price index in dollar terms the market would still be c.25% below peak. We would also prefer…Continue
Added by Francesc Riverola on March 13, 2013 at 9:47am — No Comments
UBS - "USDCHF BULLISH As long as support at 0.9394 holds, watch for a closing cross higher in momentum tools to signal resumption of strength. Resistance is at 0.9552.
AUDUSD NEUTRAL Resistance is at 1.0357 ahead of 1.0414. Support is at 1.0267 ahead of 1.0202.
USDCAD BULLISH As long as support at 1.0186 holds, there is scope for a break above resistance at 1.0296, opening 1.0366. Near-term support is at 1.0235."
Added by Francesc Riverola on March 13, 2013 at 8:35am — No Comments