Recommendations: SHORT positions below 1.3194 with 1.2870 & 1.2780 as next targets.
Alternative scenario:The upside breakout of 1.3194 will call for a rebound to 1.3280/315.
Description: The EURUSD maintained a bearish momentum last week after losing the key support 1.3109, with the key resistance 1.3194 intact, the risk for more losses is likely towards 1.2860 where a…
GBP/USD dropped sharply late in the week, as the pair lost over two cents. The pair closed the week at 1.5353. This week’s highlights is Claimant Count Change. Here is an outlook of the events and an updated technical analysis for GBP/USD.
The pound’s rally hit a brick wall late last week, as the British trade deficit did not narrow as much as expected. while solid US Unemployment Claims boosted the US dollar.
GBP/USD graph with support and…Continue
Added by Yohay Elam on May 12, 2013 at 6:35pm — No Comments
Below is one of my responses to a fellow trader.. With just a slight changes to it; I'm posting it out here. The ? was in regards to the GOLD, hence some mentioning on gold is there as well..
To be honest I carry the view of 2-300 pips drop on major USD pairs; only that it could be more than that..
I think I kept few things discreet for what I may be seeing is wrong and don't want others to start having a dubious mind going ahead.. But I guess, we all understand we are…
Added by Tahir Khan on May 12, 2013 at 6:28pm — No Comments
Federal Reserve officials have mapped out a strategy for winding down an unprecedented $85 billion-a-month bond-buying program meant to spur the economy—an effort to preserve flexibility and manage highly unpredictable market expectations.
Officials say they plan to reduce the amount of bonds they buy in careful and potentially halting steps, varying their purchases as their confidence about the job market and inflation evolves. The timing on when to start is still being…Continue
Added by Ron Schelling on May 12, 2013 at 2:51pm — No Comments
Attainment of nirvana in trading ..
I have come to a point in my trading where everything has become a habit,
Standing up 0700 breakfast, go to my coffee place surfing the internet,, relaxing walk to the office trade a few hours taking lunch go back to the office trade a few hours, go home eat dinner, go on training, the same habit each day ..
Whether I win or lose I do not care bad days are becoming a rare commodity but they are there and reminding…Continue
EURUSD: Although EUR turned back lower the past week after failing to follow through on the back of its previous week gains, it remains trapped in a consolidation range (watch out for a head and shoulders formation on the daily chart). A reversal of its past week decline could occur if it fails to follow through on its current bearishness. This will open up further upside risk towards the 1.3242 level in the new week. Further out, resistance resides at the 1.3300 level where a break…
Added by fxtech on May 12, 2013 at 1:12pm — No Comments
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