USD/JPY was the big star of the week, finally breaking the 100 line and with a big blast. Is the road open to 105, or will we see some consolidation?Tertiary Industry Activity, GDP and Core Machinery Orders are the main events this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
The initial trigger for the storm was a …Continue
Added by Yohay Elam on May 12, 2013 at 10:31am — No Comments
EUR/USD suffered a downfall at the end of busy week that saw the dollar surge across the board. Will the pair continue lower? German ZEW Economic Sentiment and GDP figures are the highlights of this week. Here is an outlook on the events and an updated technical analysis for EUR/USD, now on lower ground.
German Industrial Production …Continue
Added by Yohay Elam on May 12, 2013 at 7:04am — No Comments
After fluctuating back and forth at the support/resistance level (1.2996 - 1.3188) at the last it falls beyond that range with the expected future target at 1.2876. There is strong chances the Bearish trend should continue further down supporting by formation of Head/Shoulder in the weekly time frame and the falling flags formation in Monthly Time frame. When all other indicators including MACD/Stochastic both synced downwards, this would confirm the bearish continuation.
Added by Investross on May 12, 2013 at 2:56am — No Comments
USDCHF – With a rally seeing USDCHF closing slightly above the 0.9566 level the past week, there is risk of further upside in the new week.This development leaves the pair targeting further strength towards the 0.9600 level. Further out, resistance resides at the 0.9773 level, its weekly ema where a violation will aim at the 0.9850 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9498 level where a breach will target the 0.9331…Continue
Added by fxtech on May 11, 2013 at 11:52pm — No Comments
Hello Ichimoku Traders
Please help to confirm my understanding of the Ichimoku system using the attached daily EA chart. Here is my interpretation:
The present trend is bullish due to the following reasons:
1) Price is above the cloud.
2) Tenkan Sen (red) is above the Kijun Sen (blue).
3) Both these lines are pointing up.
4) Chinkou Span (violet) is above the price.
5) Chinkou Span is also above the cloud and pointing up.
Added by Oasis on May 11, 2013 at 2:30pm — No Comments
Added by Haitham653 on May 10, 2013 at 6:31pm — No Comments
Deutsche Bank - "Macro conditions for B/Es have improved somewhat with commodities stabilizing and economic data on balance surprising on the upside again. Just like for the US and the euro area, our B/E momentum score appears to have bottomed, while remaining in negative territory. Some further confirmation of these trends will be needed in the coming weeks.
In the UK, an additional headwind for B/Es has been the renewed strengthening in the exchange rate. A sideways trend in…
Added by Francesc Riverola on May 10, 2013 at 3:09pm — No Comments
BMO Capital Markets - "• The RBA’s battle to restrain AUD gains has moved in favour of the former and a weaker AUD for the time being, but we believe that there will be more hurdles for the RBA to overcome.
• For the RBA to be victorious – taking a page out of the BoJ’s book to a degree – the Bank may have to fundamentally “alter the markets’ psychology” towards the AUD. This may mean taking a highly nuanced approached to restraining AUD gains or forcing outright declines.
Added by Francesc Riverola on May 10, 2013 at 2:59pm — No Comments
Rabobank - "We have been arguing over the past month that while the yen should remain on a weakening trend that the upside potential of USD/JPY would be slowed if the market was paring back the size of its USD positions. This view seems to have been upheld in April though yesterday’s break of the psychologically important USD/JPY100 levels has injected fresh life into the currency pair. Over the coming weeks we continue to expect that the tone of the USD will be key in determining the pace…Continue
Added by Francesc Riverola on May 10, 2013 at 2:55pm — No Comments
Currently we are at 1.2995. IF we can break this support, we are looking for a continuation to the support @ 1.2892 and then the S5 support @ 1.2868. The current average daily trading range (ATR) is 110 pips.…Continue
Added by Scott Barkley on May 10, 2013 at 12:57pm — No Comments
Added by Carol Harmer on May 10, 2013 at 11:14am — No Comments
Follow Till: 1489.96
Added by Usman Pervez on May 10, 2013 at 10:25am — No Comments
Royal Bank of Scotland - "As a Top Theme and Trade for 2013 we recommended establishing a short GBP/USD position. We hit our initial 1.5050 within three months. We eventually closed the position on 11th April after spot retraced to hit our revised take-profit stop of 1.5390. The relatively poor structural position of the UK, particularly against the US has remained unchanged and hence the strategy remains compelling. We now believe that short-term risk/reward has once again shifted in favour…Continue
Added by Francesc Riverola on May 10, 2013 at 9:19am — No Comments
After scrapping 11 million page views level in March (10.9), an overall growth of 1% of FXstreet's websites took the whole network to break the 11M level for the first time ever.
On the negative front, we still must highlight FXstreet's Social Site Forexstreet.net.The site has not recovered from the big spam attack it suffered last February that lead Google to remove the site from…
Bank of Tokyo-Mitsubishi - "The euro continues to remain relatively stable in the near-term with EUR/USD lacking direction. We do not expect that dynamic to change in the week ahead with no clear fresh catalyst on the horizon. The euro appears well supported against the US dollar above the 1.30-level where its 200-day moving average is located. Even ECB President Draghi’s signal that the ECB is open to lowering its deposit rate into negative territory has had only a limited negative impact…Continue
Added by Francesc Riverola on May 10, 2013 at 8:29am — No Comments
After see saw battler for last few days USD showed some strength Thursday and did gained over GBP/USD. Expect USD to keep the momentum as week winds up.
For Intraday Trader BUY USD at dips
Outlook - GBP/USD Short…
Added by Sardar Uddin on May 10, 2013 at 7:19am — No Comments
Added by Carol Harmer on May 10, 2013 at 7:15am — No Comments