The Yen weakened against all of its 16 major counterparts on the heels of news that the Bank of Japan announced a large monetary easing program.
USD/JPY along with the Nikkei 225 has rallied sharply on the heels of the news.
Looking at the USD/JPY monthly chart and the downmove that started in 2007, we can see that the 50% retracement of this move is at 99.77.…Continue
Added by Dan Blystone on April 4, 2013 at 8:37am — No Comments
It has been a while since gold has lost over $50.00 in a week. But it has this week.
The outlook is deteriorating, as the market heads to the base of its range for the past twenty months at 1522. Not far below here, the major foundation for the bull run since 2002, comes in at 1491. This level is pivotal, it marks the 110 week moving average. A safety rope that…Continue
EUR is in a consolidation mode after dopping below MA200 and reaching the low of 1.2750. I think today and tomorrow EUR will exit this consolidation. For now we have a slightly bullish bias and move along the upside channel bottom line. On H4 we are pressured by a negative Icimoku which is not so thick, but is not broken for two months. It seems that bears are loosing power again, and it is time for the bulls to kick in. Let's see today what will say mr.Draghi and how the market will react.…Continue
this post is intended for new traders who want a simple approach they can expand on and make thier as time goes on. it is not intended to to give triple digit monthly returns. just because you re not wayne gretzky doesnt mean you cant play hockey.
dont try to predict, just roll with whatever is happening. as you become comfortable with seeing the signs that a market may bounce off a level start to experiment with managing the process as it moves in your favor.
not sure where…Continue
Trade Euro is very interesting. All seems very simetrical.
Who is paying attention to Draghi speeches knows that always have zig zag curves. Always, till now..
For example.. in last conference euro rised 150/200 pips after this a bearish engulfing appeared.
There is no reasons to believe that euro will follow uptrend tomorrow. Europe is going to bad economically speaking and investors knows that. Difficult to lie or…Continue
In this blog I'll do my best to explain to you how to trade my intraday strategies correctly,
I'll focus here in case my recommendations fail, how do we trade the alternative scenario , before we start I have 2 methods:
Once the pivot level is broken, don't jump directly , to avoid false breakouts, and to minimize your risk, in this method we'll wait for a test to the broken level , then we enter after…Continue
The current situation in the Republic of South Africa is ominious. Exposure of its
currency (ZAR) to large amounts of foreign "hot money" further adds to the
Currently, S. Africa only has $40 billion in forex reserves. Given the country's
ballooning trade deficits at 6.3% of GDP, that's enough to cover about three or
four months of import.
Below the weekly USD/ZAR…Continue
As shown on the daily chart below , the break of the key support 120.06 confirmed the bearish breakout and should bring more losses in the nearest future even in case of recovery.
On the downside , first support is around 118.71, the next one is at 116.43 ahead of 113.53 levels, note that a break below the sliding support line - the thick black line - will bring massive bearish move and should target 113.53 quickly and possible 105.97 levels!!!
On the upside, resistance is at…Continue
AUDUSD: With continued upside seen there is risk of a return to the 1.0496 level. This if seen will resume its offensive towards the 1.0550 level where a break will aim at the 1.0600 level and then the 1.0650 level. However, a failure of its present strength could see it turning lower towards the 1.0374/1.0413 levels. A reversal of roles may occur and turn it higher but if broken, expect further declines to occur towards the 1.0300 level. Further down, support stands at the 1.0203 level. All…Continue
Added by fxtech on April 3, 2013 at 6:09pm — No Comments
#1 Sam Seiden - Trade Like A Bank
#2 Wayne McDonell - SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 82nd Edition
#3 Brandon Wendell -…Continue
Added by Francesc Riverola on April 3, 2013 at 2:35pm — No Comments
Societé Generale - "BOJ policy decision – the unhappy thought of trading an unclear digital event. In response to Prime Minister Abe's call for bold policies, we are very likely to get a shot of BOJ boldness tomorrow. Kuroda has pledged to boldly go where no BOJ governor has gone before in monetary policy. But the market is already positioned for boldness, with the largest speculative short JPY position since the heyday of the yen-funded carry trade in mid-2007, according to CFTC data.…Continue
Added by Francesc Riverola on April 3, 2013 at 2:00pm — No Comments
Currently we are at 1.0491. A break of the 1.0500 here would target the resistance cluster @ 1.0530 and then the day top @ 1.0597. We are bullish. The current average daily trading range (ATR) is 62 pips.…Continue
Added by Scott Barkley on April 3, 2013 at 1:01pm — No Comments
In January I was asking myself if the recovery seen in our traffic numbers could be a reason for hope or was it just a mirage?
Well, if we consider the data for Q1 2013, I think that we can remove the question mark and assume that we are…Continue
National Australia Bank - "The Australian dollar remains above parity, and has strengthened over the past month despite the renewed concerns in Europe. Indeed, the frailties in Europe have seen the Australian dollar almost become a safe haven for investors, with the Trade Weighted Index hitting a 28-year high in March.
The AUD also remains supported by solid demand for Australian financial assets, with net buying of Australian assets in the past six months running at an almost identical…
Added by Francesc Riverola on April 3, 2013 at 11:25am — No Comments
Brown Brothers Harriman - "- Weaker UK PMI data is consistent with our view of a soft economy
- Of the three major central banks meeting tomorrow, only the BOJ is expected to change policy; there, we see scope for market disappointment and potential yen gains
- Market focus will turn to US data, including ADP report and the ISM non-manufacturing
- Australia February trade out overnight showed an unexpected…
Added by Francesc Riverola on April 3, 2013 at 11:00am — No Comments
EUR/USD is going to break. The driver will likely be either today's ADP nonfarm or ISM service. On the upside, 1.2880 area will provide intraday support, whereas 1.2750/70 zone will challenge the bear on the downside.…Continue
Added by Cho Xom on April 3, 2013 at 10:53am — No Comments