EUR/USD remains under pressure, but is steady in Thursday trading. The markets continue to be nervous about the political stalemate gripping Italy. With no clear winner in this week’s parliamentary elections, there are fears that a prolonged deadlock could lead to a new crisis in the Eurozone. There was some good news as investors showed a strong demand for 10-year Italian bonds. In the… Continue
Added by Yohay Elam on February 28, 2013 at 10:42am —
Added by David Pegler on February 28, 2013 at 10:20am —
Royal Bank of Scotland - "EUR/USD: Tuesdays piece commented on the fact that this level at 1.3040 should be supportive and I’m further buoyed by yesterday’s price action that was a good solid positive day following the reversal pattern witnessed on Tuesday. I think this opens up a short term move back to the trend line break area around 1.3275 and the important Fibonacci retracement level above there at 1.3296. Note too that the fairly distinct head and shoulders pattern looks like it had… Continue
Added by Francesc Riverola on February 28, 2013 at 10:14am —
In graf above you can see what trend is downtrend or uptrend.
Intraday: If the price will keep under 1.3260 we can say that eur/usd is in downtrend.
Day: The resistance level is 1.3260 after cross this level it will continue in uptrend.
Intraday: Here we have two resistance levels first is 1.5270…
Added by Miroslav Dolezal on February 28, 2013 at 9:36am —
A rule, any rule is better than no rule at all when trading.
This is a stupid example but it has a point…
In my office I have two gold fish, Bubbles and Jaws. Each day I feed the fish and if Bubbles takes the first spec of food I buy the dollar but if Jaws takes the first spec of food I sell the dollar.
I then wait until the next day and after buying the dollar the day before, I look for Jaws to feed first, so I can exit my trade. If he… Continue
Added by Brian Kiely on February 28, 2013 at 9:30am —
AUDUSD hit new low few sessions back and reversed quite impulsively from 1.0181 low which suggests that pair has reached a temporary low. In fact, recent price action in 1.0220-1.0370 range could be labeled as a triangle in fourth wave so reversal that we are seeing is actually not a surprise because we know that move after the triangle was a final leg of a larger trend. In our case that was wave 5 that completed a five wave decline in wave 1). With that said, current rally is probably part… Continue
Added by Gregor Horvat on February 28, 2013 at 9:18am —
UBS - "EURUSD NEUTRAL The pair is under recovery following the recent sharp sell-off. The main resistance is at 1.3283. Support at 1.2998 ahead of 1.2877. Continue
EURGBP BULLISH The recent strength brings focus on momentum tools as a closing cross higher would be bullish. Resistance is at 0.8696 ahead of 0.8831. Support is at 0.8576.
EURJPY NEUTRAL The immediate risk appears to be for extension of the consolidation phase. Resistance is at 122.16 ahead of 124.28.…
Added by Francesc Riverola on February 28, 2013 at 9:15am —
Recommendations:SHORT positions below 1.3160 with 1.3120 & 1.3065 as next targets. Continue
Alternative scenario: The upside breakout of 1.3160 will call for a rebound to 1.3195/240.
Description: As long as 1.3160 holds the pair will remain under pressure with further risk for downside move, 15 min close above 1.3160 will open the way to 1.3195/240 levels, a break below 1.3122 is indeed to retest 1.3065,…
Added by Haitham653 on February 28, 2013 at 8:08am —
Second day of consolidation passed with quiet trading and slightly bullish as forecasted. My first LONG EUR target has been reached, and my first LONG GOLD target has been reached too. One thing to remember is that when you go some 15-20 pips + on EUR you have to move your SL at your entry point, so if a reverse happens to eliminate any loss. On gold move SL when you are some 6-7 USD ahead.
Now to the EUR again, after some consolidation EUR has opened the day with bullish moves, it is… Continue
Added by Vladimir Mihaylov on February 28, 2013 at 5:40am —
Added by Muthusamy on February 28, 2013 at 4:26am —
Good Morning everyone!
Last night Ben Bernanke has done it again. He had done in the past and once again he did what Draghi or any other politician couldn't do.
The committee threw some hard questions and questioned his credibility about the future forecast but he answered the questions in his fashion and defended his QE very strongly. He was also suggested that he should take other members in the FOMC seriously. His defence against QE took USD down against all currencies and… Continue
Added by Rakesh Kumar on February 28, 2013 at 1:02am —
€uro fairly balanced within 1.3140-1.3020 – I would like to wait and see a break of the balance area.
Although there´s negative divergence in place at the time of writing, I am being specially careful with, specially after the afternoon move.
Thus, some ideas to take into… Continue
Added by Demian Pack on February 27, 2013 at 11:04pm —
Fed Chair Ben Bernanke attempted a monetary policy balancing act in his U.S. Senate and House testimonies these past two days. He gently reassured risk markets the Fed will not be pulling the stimulus punch bowl away in the near future, yet also attempted to provide some comfort to hawks that the Fed understands there are risks to its expansionary policies. It was on net a slightly more dovish tone than markets expected.
The dollar retraced some of its heavy gains from Monday… Continue
Added by Brent Carlile on February 27, 2013 at 10:27pm —
The long term view on the GBP/USD.
Since 1986 the Pound has touched 4 x the 1.40 level.
Are heading again to 1.40 ??
At least we are getting closer.
(c) Chart FXTop…
Added by Ron Schelling on February 27, 2013 at 8:00pm —
USDJPY: The pair still faces downside pressure on correction. Further downside is likely towards the 90.86 level. Below here could force further downside towards the 90.00 level. On ending the mentioned correction, it should return above the 94.45 level to trigger medium term uptrend. Further out, resistance resides at the 95.00 level with a turn above here aiming at the 95.50 level followed by the 96.00 level and next the 96.50 level. On the downside, support resides at the 92.20 level…
Added by fxtech on February 27, 2013 at 5:09pm —
After 5 consecutive dreadful quarters (Q4 2011 to Q4 2012), it seems that Q1 2013 is trying to go back on track. We all have read here that volatility and volume are progressively coming back in the Interbank market so we were wondering if that was happen in the Retail Forex market as well... If we accept FXstreet.com main site (English) traffic data as an appropriated indicator of the health of the Retail FX, then we can say that we have inputs of back to business as usual… Continue
Added by Francesc Riverola on February 27, 2013 at 3:30pm —
UBS - "How fast is Australia’s mining investment boom set to recede? And are the non- mining sectors of the economy ready to step into the breach? On Thursday February 28th we should get answers to both questions when the capex survey is published. It is arguably Australia’s most important data release for all of this year and we believe the outcome to be pivotal for the Australian dollar. (...) Beware of downside risks, though − if the survey shows spending intentions closer to A$130 bn… Continue
Added by Francesc Riverola on February 27, 2013 at 2:43pm —
Added by Demian Pack on February 27, 2013 at 2:34pm —
Currently we are at 1.4100 in a bull flag after filling the gap. We are looking now for the end of the correction, but where? A bounce to the downside @ 1.4118 or a continued more to 1.4179 and then the downside move. Either way the target is @ 1.3907 area. The current average daily trading range (ATR) is 139 pips.…
Added by Scott Barkley on February 27, 2013 at 2:31pm —
BBH - "The dollar's push to almost JPY94.80 on Monday seemed to complete the multi-month advance. The JPY90 level seems to be the key to whether there is a broad side ways consolidation of a outright correction. A correction can see the dollar slip back to the JPY88.00 area and possibly JPY86.00. This would be broadly consistent with a protracted period of political uncertainty in Europe and soft US yields." Continue
Marc Chandler, Global…
Added by Francesc Riverola on February 27, 2013 at 1:51pm —