Westpac - "On Feb 26, we recommended selling EUR/GBP on strength. At the time we recommended selling 1/3 unit of EUR/GBP at 0.8640, and adding on strength above 0.8690 and above 0.8730. We established a full short position at an average price of 0.8718. We recommend taking back half of that short position. EUR/GBP has dropped sharply (down 3% from our sell level), driven by concerns about Cyprus, Italy, Greece etc.
We still expect further weakness in EUR, but the speed of the decline in…
Added by Francesc Riverola on March 28, 2013 at 5:11pm — No Comments
The GBPUSD maintained some bullish momentum the past few weeks, pressure now will be on the key resistance 1.5500, the GBPUSD will have to hold above 1.5500 on a weekly closing basis to confirm bottoming at 1.4830 and change medium term outlook from bearish to neutral, If seen pressure will be on the key resistance 1.5840 , where a breach will turn focus on the 1.6000 levels.
Alternatively, a failure to hold above 1.5500 on a weekly closing basis, could mean a return to the 1.4830…Continue
ING Bank - "With Eurozone worries depressing risk appetite once more, we will have to look to the other side of the Atlantic for more positive newsflow. Thankfully, it should be forthcoming this coming week in the US with the ISM manufacturing index pointing to decent growth and the labour report set to show ongoing employment gains and yet another fall in the unemployment rate. The unemployment rate has fallen significantly over the past couple of years and we look for it to drop to 7.6% in…Continue
Added by Francesc Riverola on March 28, 2013 at 4:00pm — No Comments
FX Studies is FXstreet’s customizable page with a wide selection of technical studies, fundamental data, tools and content filters. It is made of more than 40 widgets that the user can add to his/her own dashboard. All are adjustable to the trader’s time horizons, currency pairs and trading style.
We’ve recently added 6 new widgets…Continue
Added by Francesc Riverola on March 28, 2013 at 3:17pm — No Comments
EUR/USD DAILY as of Thursday, 28 March, 2013 Euro Dollar / US Dollar daily prices broke below the downside support level of 1.2800 yesterday. This is a bearish sign. This previous support level of 1.2800 may now provide upside resistance. This breakout is quite significant. Currently the RSI does not show any Failure Swings but Prices has set a new 14-day low while the RSI has not. This is a BULLISH DIVERGENCE. Euro Dollar / US Dollar daily closed below the lower Bollinger Band by 9.7%. This…Continue
Added by Martin Kay on March 28, 2013 at 2:34pm — No Comments
Deutsche Bank - "First, we believe the policy response in Cyprus has been very counter-productive. As of today, freedom of capital movement is suspended in Cyprus. Economic and Monetary Union across the entire Eurozone no longer exists.
(...) Second, we've been negatively surprised by political developments. It is looking increasingly likely that Italy will be heading towards a second general election, with an unpredictable…
Added by Francesc Riverola on March 28, 2013 at 1:40pm — No Comments
Currently we are at 142.64 in a sideways pattern which is still bearish. A breakdown of the rectangle pattern targets the Support cluster and .786 fibo @ 141.50 area. The current average daily trading range (ATR) is 201 pips.…Continue
Added by Scott Barkley on March 28, 2013 at 1:03pm — No Comments
UBS - "USDJPY BULLISH There is a major support at 93.11. While this holds, there is potential for resuming upside. Initial resistance is at 95.12, a break above would open 96.71.
GBPUSD BEARISH The broader bear trend is intact and support focus is at 1.5027, a break below would trigger deeper sell-off to 1.4832. Resistance is at 1.5207 ahead of 1.5269.
USDCHF BULLISH With trending and momentum indicators pointing higher, there is scope for further upside to resistance at 0.9567…
Added by Francesc Riverola on March 28, 2013 at 1:00pm — No Comments
Brown Brothers Harriman - "We expect the ECB to leave the door open for a cut in its next meeting, but that it will not panic into a move. Current weakness of the euro-area economy is not unexpected, so the bar for a rate cut is high. However, if, as we expected, the weakness is more prolonged, then that could lead to a cut. In addition, it might not be growth per se, but the risks of deflation that drives the decision. German and French inflation is low and falling. Measured inflation in…Continue
Added by Francesc Riverola on March 28, 2013 at 12:50pm — No Comments
Spotted this potential Head & shoulders pattern on USD/CHF weekly line chart...
IF this analysis is accurate. Euro will be pushing higher into…
Added by Shaun Powell on March 28, 2013 at 12:24pm — No Comments
Ummm!!!! Maybe a morning scalp forming for Breakfast :O
Added by Jyotiprakash Pal on March 28, 2013 at 3:45am — No Comments
Recommendations: SHORT positions below 1.2847 with 1.2735 & 1.2660 as next targets.
Alternative scenario: The upside breakout of 1.2847 will call for a rebound to 1.2890/1.2940.
Description:As long as the hourly close is below 1.2847,intraday bias is to the downside, an hourly close below 1.2750 will accelerate the downside move suggested for today towards 1.2735/660 levels,an hourly close above…
Hi everyone... call it maybe a silly initiative but I would like to involve you all in the elaboration of an eBook where all of you willing to participate can share your best piece of advise to FX traders.
My initial idea was to put together a nice compilation of experiences, advise and trading secrets of real…Continue
Rabobank - "There is huge anticipation that Kuroda will kick off his term as BoJ Governor with a significant step-up in policy stimulus at the April 3-4 meeting. Earlier in the week we were given a taste of what this could be; Kuroda spoke about buying longer dated JGBs (to include 5 yr bonds) and also there have been hints of increased purchases of riskier assets. Bearing in mind the huge amount of attention that has surrounding the appointment of Kuroda and his reassurances about the…Continue
Deutsche Bank - "there appears to be a growing understanding among the most influential Fed members that a tapering of QE bond purchases may be preferable to a hard stop. A Dudley- style QE ‘dial down’, with an option to dial QE back up on slower data, should in theory further curtail risk. In practice, it could underpin the broad risk cycle, but add to short-term volatility as the criteria that would motivate policy flexibility is unlikely to be transparent or predictable. Nonetheless, such…Continue
Added by Francesc Riverola on March 27, 2013 at 6:14pm — No Comments
This is good news for the Retail Forex Industry... We need more well capitalized brokers being supervised by "most reliable" monetary authorities like Australian ASIC, Japanese FSA or British FSA and we need to get rid of undercapitalized firms regulated by one one with a real interest to supervise.... Well done FXOpen!
Added by Francesc Riverola on March 27, 2013 at 5:05pm — No Comments
This is week is being interesting. At least, for eur/jpy cross.
Like expected the downtrend was followed up to 119,90 and i am waiting some fresh bounce for next 24hrs. H4 chart give us a hint that bullish pin bar will be formed soon and thus a new long setup could be done as well.…Continue
Bank of America Merrill Lynch - "In our recent work on trend growth in the euro area we already warned that the crisis had permanently damaged the euro area’s growth potential, unless economic reforms can boost investment and productivity again. In the absence of a considerable boost to economic policy, but assuming a standard recovery, Europe’s large countries trend growth would be lower at c.1.3% in 2015-20. But in our previous work we had assumed as a central scenario that the investment…Continue
Added by Francesc Riverola on March 27, 2013 at 4:19pm — No Comments