The loonie firmed following the release of the strongest Canadian retail sales report in nine months. A modest profit at the European equity close awaited traders who sold the USD/CAD currency pair shortly after the US equity market open.
Added by Curt Wehrley on September 25, 2012 at 7:28pm — No Comments
GBPUSD: The pair may be hesitating following its recent strength but continues to hold on to its broader upside. This development now leaves GBP targeting the 1.6272 level where a breach will pave the way for a move higher towards the 1.6300 level. Further out, resistance stands at the 1.6350 level with a cut through here allowing for more gains towards the 1.6400 level. On the downside, support comes in at 1.6162 level where a violation will trigger further declines towards the 1.6100…Continue
Added by fxtech on September 25, 2012 at 6:40pm — No Comments
#2 David Pegler -…Continue
Added by Francesc Riverola on September 25, 2012 at 5:30pm — No Comments
The pair is currently @ 1.2673 and has broken out of the corrective down movement. Next target is the 5th wave R2 target @ 1.2725 then the 0.214 Fibo @ 1.2748. There is lots of confluence there so expect the stall and then the double top @ 1.2800. The Average Daily Trading Range (ATR) for the pair is 110 pips.…Continue
Added by Scott Barkley on September 25, 2012 at 1:02pm — No Comments
The goal of this forum is to help create an environment that facilitates the learning of how to trade forex and markets in general, along with bringing a social component to trading.
However by default - it is a forum, and in places where the main form of communication/connection is via internet, we tend to behave in slightly different ways than if we were meeting with that someone in person, talking with them, spending time with them, getting to know them,…
Those familiar with my work may know my predilection for classical yet less kown indicators and techniques.
The below chart is an example of a breadth indicator normally used for stocks: the Bullish Percentage Index. At FXstreet.com we build the same indicator for the Forex market based on a proprietary formula. The below EUR-BPI measures the percentage of euro-based pairs which are printing a bullish signal on Point and Figure charts. A rising line means that more euro-based pairs…Continue
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Added by Francesc Riverola on September 25, 2012 at 10:09am — No Comments
J.P. Morgan - FX forecasts through 2015: G10 long-term forecasts.
Dec-13 Dec-14 Dec-15
Exchange rates vs. U.S dollar
EUR 1.33 1.30 1.27
JPY 80 82 85
GBP 1.64 1.63 1.61
AUD 1.05 0.99 0.94
CAD 0.94 0.96 0.97
NZD 0.78 0.73 0.68
CHF 0.86 0.89 0.92
SEK 6.26 6.22 6.18
NOK 5.39 5.30 5.21
Exchange rates vs. Euro
JPY 106 107 108
GBP 0.81 0.80 0.79
CHF 1.15 1.16 1.17
SEK 8.34 8.10 7.86
NOK 7.18 6.89…
UBS - "We remain wary of sterling - but not only due to the risk of further BoE Gilt buying. UBS Economics notes the cumulative UK deficit so far this year is larger than the corresponding period last year, and that the government will miss its budget targets as a result. Credit rating agencies have already warned that Britain's AAA status is at risk if austerity measures fail to tame the deficit.
The Australian dollar has shown considerable resilience despite ongoing weakness in…
Added by Francesc Riverola on September 25, 2012 at 9:22am — No Comments
BNP Paribas - "An acceleration of job creations is unlikely to happen in the second half of this year. Regarding both investment and hiring decisions, the business sector will keep on the wait-and-see mood, as long as they do not have a clearer idea of the way the fiscal cliff is to be avoided. The fiscal outlook is blurred. There is no doubt that federal authorities will not the fiscal budget to adjust by 5 percentage points next year. Whether this will be achieved through no cut in…Continue
Added by Francesc Riverola on September 25, 2012 at 8:48am — No Comments
UBS - "GBPUSD BULLISH Near-term resistance is at 1.6260, a break above would resume strength opening the way to 1.6309. Support lies at 1.6164 ahead of 1.6124.
USDCHF NEUTRAL The resistance range is at 0.9424/67. Support lies at 0.9239 ahead of 0.9195.
AUDUSD NEUTRAL A move below 1.0342 would be a bearish development opening the way to 1.0276. A break above 1.0527 would extend the recovery to 1.0625."
Added by Francesc Riverola on September 25, 2012 at 8:31am — No Comments
Added by 50Pips on September 25, 2012 at 8:30am — No Comments
Fundamental data out today are apt to stem the appreciation of the US dollar, and bring in likely gains for the Canadian dollar. Real estate price data from the United States should confirm that housing continued to stabilize this summer, even as manufacturing and labor remained tepid. Whereas, in the Maple Leaf, consumer spending is perceived to have rebounded. A sell bias is recommended for the USD/CAD trading pair in the day’s exchanges.
The S&P/Case-Shiller House Price Index…
Added by Aviv Shapiro on September 25, 2012 at 8:11am — No Comments
Added by 50Pips on September 25, 2012 at 8:00am — No Comments
Added by 50Pips on September 25, 2012 at 6:40am — No Comments
"Markets may initially trend for fundamental reasons but prices over-shoot by ludicrous amounts. At some point, prices go up today simply because they were up yesterday.”
- Michael Platt
Added by 50Pips on September 25, 2012 at 6:30am — No Comments
Since the market got the green light from Bernanke and the QEinfinity policy, the Dow Index cleared past the yearly highs and went on a 350pt run in a few days. However, in the last six, the has consolidated forming a series of overlapping bars between the 13653 and 13495 levels.
Although i'm not sure how much longer this range will hold since we have had three touches on each end, as long as the …Continue
Added by 2ndSkiesForex on September 24, 2012 at 11:07pm — No Comments
USDCHF: While the pair may have halted its declines and triggered a correction, it looks to extend that recovery. However, as long as it holds and trades below the 0.9421 level, its July 2012 low, its short term downtrend remains valid. Support lies at the 92.38 level where a violation will aim at the 0.9193 level, its May 07’2012 low with a breach targeting the 0.9100 level. A breach of here will aim at its major psycho level at the 0.9000 level. Its weekly RSI is bearish and pointing lower…Continue
Added by fxtech on September 24, 2012 at 9:43pm — No Comments