Brown Brothers Harriman - "The Australian dollar reached almost $1.06 before the unwinding of cross positions against the yen took a toll (as it appears to have done on the other major currencies as well to varying degrees). Some observers linked the heavier tone of the Aussie before the weekend to the slide in steep slide in gold prices.
While possible, our work shows a very weak correlation between Australian dollar and gold. In fact, on a rolling-60 day basis, using percentage change,…
Added by Francesc Riverola on April 15, 2013 at 9:22am — No Comments
EURUSD rallied more than 400pips over the last two weeks, but gains slowed down last week around 1.3130 swing established back from March. Notice that volume and momentum were decreasing in the last week despite higher EUR. Thats called a divergence which usually suggests a top or coming sideways prices. Ideally, market will make a deeper corrective pull-back in the very near-term within wave B) towards 1.2900/1.2950 support zone before pair turns higher once again for wave C).…Continue
Added by Gregor Horvat on April 15, 2013 at 9:10am — No Comments
Danske Bank - "GBP/JPY - Scope for very significant longer-term recovery.
Strategy Summary - Buy on dips for gains to 168.15 and 184.00 initially. Suggest placing a stop under 137.90.
EUR/TRY - The head and shoulders neckline is being re-tested.
Strategy summary - Look to sell for a decline to 2.2880, then possibly towards the 2.2740-2.2605 area. Close shorts on a break above 2.3685."
Added by Francesc Riverola on April 15, 2013 at 9:06am — No Comments
UBS - "GBPUSD NEUTRAL Critical resistance is at 1.5424. Support is at 1.5268 ahead of 1.5178.
USDCHF NEUTRAL There is a main support at 0.9230 – only a closing breach here would be a strong bearish development. Resistance is at 0.9340 ahead of 0.9375.
EURUSD NEUTRAL Resistance is at 1.3138 ahead of 1.3228. Support is at 1.2988 ahead of 1.2896.
USDJPY BULLISH The latest setback is correction to unwind the overextended upside conditions. Support at 97.13 should hold. Resistance is…
Added by Francesc Riverola on April 15, 2013 at 8:55am — No Comments
Overall USD outlook remains weak relative to majors but currently Price Action and Support/Resistance indicate short term corrective move for most pairs. For intraday traders we recommend short term shorts or wait for buy opportunity at Strong Support.
Here is our technical analysis for Usd/Chf…Continue
Added by Sardar Uddin on April 15, 2013 at 8:31am — No Comments
As is our practice we bring to you a brand new Trade Setups at the beginning of every week. For this week of April 15th to 19th it is Aud/Cad. Here's our outlook for this pair for the week:
AUDCAD - Potential Trade Setup
High probability Short trade with trade quality of 75%
Double rejection at 1.07100 level provides us with "High Probability Short Setup." Candle formation suggests bears to gain momentum and test next support…Continue
Added by Sardar Uddin on April 15, 2013 at 8:03am — No Comments
Added by Successful Traders on April 15, 2013 at 6:41am — No Comments
As shown on the daily chart below , the pair is so close from the kumo cloud around 1.3140 levels, at this point our choices, it might continue moving inside the cloud, or it may retrace to the Kijun Sen area around 1.2900/1.2980 levels where rejection is strongly suggested, to resume it weakness, it needs to hold and consolidate below the cloud 1.2900/1.2800 levels, If seen it would move towards 1.2700 levels ahead of 1.2650 levels. On the upside it needs to overcome 1.3140 levels, If seen…Continue
Added by vishu on April 15, 2013 at 5:30am — No Comments
EUR was unable to progress above the resistance area 1.3120-40 and reversed to the downside on Friday, but then recovered to 1.3100. With today's opening the same thing repeated and currently the pair trades around the support 1.3070, next support is 1.3050, then 1.3030 and then 1.3000. The final target for today will be 1.2960. Please watch carefully the situation in Korea, as any state of war will make the investors run away from the risk currencies like EUR and to look for a shelter in…Continue
Added by asad rizvi on April 15, 2013 at 1:35am — No Comments
GOLD: With a strong sell off occurring the past week, further declines is likely to continue. This will leave the pair targeting further downside towards the 1,439.42 level, its weekly ema. We may see a back off higher from here but if broken further downside could follow towards the 1,400 level and then the 1,380.00 level. Its weekly RSI is bearish and pointing lower suggesting further downside. Conversely, GOLD will have to return above the 1,590.40 level to reverse its decline and create…Continue
Added by fxtech on April 14, 2013 at 10:10pm — No Comments
I need of some hand here... Euro had rised a lot last week. And short trend remains bullish but before this i'm expecting some retracement to 1,2970/50 in order to buy again with 1,3250 target.
"Candles Exhaust Themselves to Give Light to…Continue
SPX, and suspecting a big fall out on it.. Weekly chart and we are at all times high which happens to be a median within the bigger falling wedge.. If spotting it correct; we would break higher and close above to 1595-97 and head out for a 1635-40......... Should retrace some from there and testing 1590-95 only to surge higher for a late 1670ish and this is where I expect a deeper retracemet or correction down to 1440-50ish..
The British pound had a fairly quiet week, and was almost unchanged at the end of the week, closing at 1.5341. This week’s highlights include CPI, Claimant Change and Retail Sales. Here is an outlook of the events and an updated technical analysis for GBP/USD.
British data was mixed, and the pound had little to show for the week. Manufacturing Production was up nicely, but the trade deficit widened, and NIESR GDP Estimate posted a negligible…Continue
Added by Yohay Elam on April 14, 2013 at 4:22pm — No Comments
EURUSD: With a second week of upside underway, further offensive is likely. This will leave the 1.3200 level as the next upside target with a cut through here calling for a run at the 1.3318 level. Further out, resistance resides at 1.3434 level. Its weekly RSI is bullish and pointing higher supporting this view. It will have to follow through higher in the new week on its recovery or risk a return to the 1.2843 level followed by the 1.2800 level where a halt could occur and turn it higher.…Continue
Added by fxtech on April 14, 2013 at 11:10am — No Comments
EURO has managed to close 3 days in a row higher to 3060 making a statement it wants to head higher..
Monday I be giving it one last chance to put it's money where it's mouth is.. To test and clear 3150ish zone and head upto atleast 3220......... if not breaking it..
Else 3150ish is what it can start to sell off for a 2945-55 play for better longs to initiate for a 34XX tgt as it seems..
My 2 cents says that come Monday 3060ish lvl will try to hold out and if so 3147-52 is…
Gold gone nuclear..
1583 shorts with 1478 though 1471-73 expected and a retrace back to 1510-15..
Exact same layout I posted earlier..
I have added to the Daily on the GOLD and weekly as well... I was trying for a while on bigger TF and I don't see anything concrete under 1450 not till 1260-70 on it.. 1450 strike on GOLD will be a about 25% depreciation on GOLD since posting a 1920 highs. A drop lower to it to around 1260 will be roughly 35% depreciation on it...…Continue
The free fall of the Gold price below. (ETF, GLD)
The whole week daily red bars, means downward pressure.
Also the hedge percentage, see bottom of the chart) was below zero for the whole week to a maximum 100% short.
No sign of recovery yet and if it comes it will take some to to climb out of the woods again.…Continue
Added by Ron Schelling on April 14, 2013 at 8:30am — No Comments