Recommendation: SHORT positions below 1.3515 with 1.3440 & 1.3415 as next targets. Continue
Alternative scenario: The upside breakout of 1.3515 will call for a rebound to 1.3540/85.
Comment: After losing the key support 1.3585, the pair becomes under strong negative pressure, more loses are suggested to 1.3440/400 levels, break of 1.3515 will call for a rebound , but any rebound most likely will be…
Added by Haitham653 on February 5, 2013 at 7:00am —
EUR declined heavily since yesterday's morning following the release of Spain's unemployment data. Seems that a massive profit taking is in place now. First support is 1.3450 and next is 1.3390. Be careful because the downside move is very strong and 1.3450 may not hold too. I expect a drop to 1.3350 till Thursday. On H4 we are facing a thin Ichimoku which may easily be broken on any EUR negative news.
We are now heavy bearish on all time frames except Daily, Weekly and… Continue
Added by Vladimir Mihaylov on February 5, 2013 at 6:57am —
Added by Carol Harmer on February 5, 2013 at 6:56am —
The sharp drop yesterday took the pair below Linear Regression Indicators as shown on the graph, providing AB=CD bearish harmonic formation. The pair might touch 1.3440 levels and might move more to the downside with a breakout below the mentioned level reaching 1.3355 levels and perhaps the second target of the harmonic pattern at 1.3270 levels. The downside move might remains valid with stability below 1.3545 levels...
Added by Honey Bhai on February 5, 2013 at 6:54am —
In recent months, we saw European economy responding to ECB measures and when everything seemed to be getting back to normal, news of Spanish PM Rajoy getting involved in corruption scandal spoiled the party. Market is looking more nervous and concerned, as former Italian PM Silvio Berlusconi is also tightening his belts for coming election due in few weeks time. Spain and Italy are the two major Euro-zone economies that can always unsettle the market condition due to risk factors… Continue
Added by asad rizvi on February 5, 2013 at 5:32am —
I think 1.3473 support is next target as 1 day chart.if it break thn its possible go till 1.3265 as 23janu2013 price.
but ma expectation is i will take a u tern from 1.3473
buy at 1.3470-80 level with target located at 1.3700 as 1.02.2013 high.stop at… Continue
Added by Saedulbahar chowdhury on February 4, 2013 at 8:00pm —
Westpac - "We still view USD’s underlying tone as soft but it is far from a simple ‘sell dollar’ story as e.g. JPY and GBP weakness persists. RBA, BoE and ECB meetings to set the week’s tone.
AUD/USD: Mid-1.03s were tested and could be again Wed/Thu if Aust retail and/or jobs data disappoint. But a likely cautiously up-beat RBA (Tue & Fri) should see the Aussie supported on dips and probably re-test 1.0500.
NZD/USD: Despite the volatility over the past few months NZD/USD remains… Continue
Added by Francesc Riverola on February 4, 2013 at 7:32pm —
TD Securities - "USD/CAD consolidation continues. The 0.9955/65 gap that opened up in funds late last month has been filled completely now and we look for firm support in the mid 0.99 area to underpin funds from here in the short-term at least. The market could not make any headway through the 1.0000 area late last week though so the potential for gains still looks limited in the near-term. Short-term channel (bull flag) resistance (breakout) at 0.9981 is under pressure though and we remain… Continue
Added by Francesc Riverola on February 4, 2013 at 7:23pm —
Wells Fargo - "The euro has extended its gains in early 2013, reaching its highest level since late 2011. An ongoing improvement in Eurozone bond markets and a shift in the European Central Bank’s rhetoric have driven the euro higher, and are also factors that have reduced our medium term pessimism on the single currency. The underlying Eurozone economic performance remains weak however and does not, in our opinion, naturally lend itself to a sizeable build-up in euro long positions. As a… Continue
Added by Francesc Riverola on February 4, 2013 at 6:55pm —
My medium term EUR/USD is bearish, but i think we may have a good buy trade bounce from here!
Added by Shaun Powell on February 4, 2013 at 6:53pm —
GBPJPY – With GBPJPY resuming its broader upside, further strength is likely. As long as it can trade and hold above the 144.79 level, our broader medium term bias remains higher. In such a case, the 147.00 level will be targeted where a violation will aim at the 147.50 level followed by the 148.00 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on any pullback, expect the cross to target the 144.79 level where a reversal of roles as support is likely… Continue
Added by fxtech on February 4, 2013 at 5:38pm —
SPX 8 h4 to supp..
SPX about to hit first minor supp..
Added by Tahir Khan on February 4, 2013 at 5:30pm —
BBH -"We make 8 points for the week ahead:
1. Larger trends remain in place. The dollar has appreciated against the yen for twelve consecutive weeks, which appears to be the longest streak in the floating exchange rate era. The euro has risen for six months against the dollar, the longest advance in nearly a decade. The six-month advance against the yen is the longest since 1999.
2. The ECB meeting is important. There has been passive tightening of monetary conditions in the… Continue
Added by Francesc Riverola on February 4, 2013 at 3:30pm —
Currently we are at 125.63 and in the middle of a corrective more after topping out @ 127.00 We are looking for the correction to continue to the 0.214 Fibo and the former trend line top. And then look for a bounce to the 128.00 area. The current average daily trading range (ATR) is 189 pips.…
Added by Scott Barkley on February 4, 2013 at 2:04pm —
Short taken @ 125.853, this time I am using Flex price action trading system, based on system rules there was a short opportunity and it was a clear breakout trade.…
Added by Rocky Master on February 4, 2013 at 1:36pm —
Picture the scene… average looking guy, not that confident, attractive or successful. Then we see him in front of his bathroom mirror putting on a ludicrous amount of brand XXX deodorant.
Suddenly his life is transformed… Cut to the most expensive bar in town, packed full of beautiful, exotic single girls (there is never any other men in sight which is puzzling). This man, who last week these girls would have stepped over if he fell in a puddle, is now an…
Added by Brian Kiely on February 4, 2013 at 1:00pm —
BNZ - "We’re embarking on an important week for the NZD/AUD. Tuesday’s RBA meeting, and employment figures for both NZ and Australia on Thursday, will help determine whether the uptrend that exploded into life last week will continue. Continue
Notwithstanding the potential for a brief (and shallow) pullback, we believe the uptrend has got legs. Indeed, we’ve been NZD/AUD bulls for some time. With our March quarter 0.8120 forecast (1.2300 in AUD/NZD terms) more or less…
Added by Francesc Riverola on February 4, 2013 at 11:39am —
Deutsche Bank - "In the coming week, with the RBA, ECB and BOE meeting, policy nuance will no doubt be particularly important. On the ECB, it is very unlikely that recent market inspired tightening is considered desirable. Draghi may well try to temper the back up in term EURIBOR, although the short-term rate market will need to get through the LTRO2 prepayments on February 22nd before stabilizing. Between attempts to undermine the recent upward drift in rates, and even some subtle hints on… Continue
Added by Francesc Riverola on February 4, 2013 at 11:22am —
Danske Bank- "Strategy Summary – Buy at market (1.5285) for an objective of 1.6185. Place stop at 1.0500. Continue
The trend lower off the 8 October 2008 peak at 2.7090 (not shown) reached a low of 1.4550 on 15 February. A wedge type pattern has since developed which, given the heavily over-sold nature of the market, may be part of a broader basing structure. Both the 50 and 100-Week MAs have flattened out, highlighting the diminished momentum,…
Added by Francesc Riverola on February 4, 2013 at 11:09am —
Just like how the Baltimore Ravens edged the San Francisco 49ers to win the Super Bowl XLVII, the US dollar is looked forward to get the better of its trades with the Australian currency today on investor speculations that the Reserve Bank of Australia will issue a surprise rate cut tomorrow. Continue
Assumptions of a surprise rate cut by the Reserve Bank of Australia are putting a damper on the Aussie’s advances. The Australian central bank holds its first policy meeting of the year…
Added by Aviv Shapiro on February 4, 2013 at 11:06am —