The EUR/USD Daily trend turned down on last Friday's close.
Only a close next week above 1.3027 will change the daily trend.
Added by Ron Schelling on December 9, 2012 at 9:50am — No Comments
For those interested in Scandinavian currency pairs and cross rates with daily and weekly trends.
Click on the flags below for more.Continue
Added by Ron Schelling on December 9, 2012 at 9:30am — No Comments
EUR/USD has an exciting week that began with a gradual climb and a sharp downfall, as Draghi dragged down the euro, below last week’s close. Where will the pair go from here? German ZEW Economic Sentiment and Flash PMIs are the main events on our calendar. Here is an outlook on the main market-movers this week.
Following last week’s ECB rate decision, president…Continue
Added by Yohay Elam on December 9, 2012 at 8:01am — No Comments
I have decided to write a few lines on this today. Forexstreet.net is quite an awesome place to be as I have said before. So many fabulous people here - I use the word 'people' on purpose and not 'traders'. The trading skills level here is unquestionably very high but it is the other aspect of being a good person that I would draw attention to.
On the odd occasion I have felt that some traders tend to look down on those with skills inferior to their own. I am reminded of when I was…Continue
In this blog, I'm gonna explain how to use FX market reversal levels, first of all, these are strong levels where the market usually reverse its direction..
To find possible turning point during the week, I'm gonna explain easy strategy would help us entering the market correctly without risking to much !
Before we start you may use the 15 min,30 min or 60 min chart.
1- Stoch(5.3.3) , you may use any oscillator you…Continue
Royal Bank of Scotland - "EUR/USD: Finally some aggressive moves in the foreign exchange markets and finally they move in line with my forecast! The resistance level proved too much between 1.3066/3172 which was the area around the previous highs from the 17th of September and the 17th of October. Now the downside should start in earnest and the cluster of lows and retracement levels between 1.2876/2893 is the stand out obstacle before the range lows at 1.2662. To enter trades here is hard…Continue
Added by Francesc Riverola on December 8, 2012 at 6:27pm — No Comments
Deutsche Bank -
• G10: We remain bullish EUR and bearish USD into year-end as we believe the Fed is likely to ease and the ECB unlikely to cut the deposit rate. The wider flow picture is also supportive for the euro:
Added by Francesc Riverola on December 8, 2012 at 6:15pm — No Comments
National Bank Financial - "Peering over a cliff can give vertigo and this is what seems to be happening to the US economy. Growth stateside is set to decelerate sharply in Q4 partly due to the damage caused by storm Sandy, but mostly because of the uncertainty brought by the fiscal cliff. We suspect that risk aversion could make a comeback as markets price-in a higher probability of a US recession. The US dollar can therefore rebound over the next few months at the expense of the euro and…Continue
Added by Francesc Riverola on December 8, 2012 at 6:09pm — No Comments
Added by Francesc Riverola on December 8, 2012 at 5:51pm — No Comments
Recommendations: SHORT positions below 1.2972 with 1.2735 & 1.2660 as next targets.
Alternative scenario: The upside breakout of 1.2972 will open the way to 1.3126/71 levels.
Comment: Bearish momentum breakout happened last Friday at 1.2876, a daily close(GMT) below this level will confirm the breakout and indicate that rebound…Continue
Here is the turning points for this week , (10 Dec - 14 Dec) 2012
Important points and notes:
1- These levels are strong support and resistance levels on short term , the market usually respects these levels…Continue
What Forex Target Traders See: We are currently sitting @ 1.2927 after a bounce on the .500 fibo. Expecting a bounce and then continuation to the downside first to the support @ 1.2869. We are bearish below 1.3000 and waiting for the pullback to finish. A break of the .618 Fibo and we should see downward traction to the confluence of the S5 and .86 Fibo @ 1.2750 area. The average daily true range (ATR) for the pair currently is 74 pips. …Continue
Added by Scott Barkley on December 8, 2012 at 2:53pm — No Comments
ING Bank - "The US labour report for November shows employment rising 146,000 on the month, better than the 85,000 consensus, but there were a net 49,000 downward revisions to previous data. There was also good news in that the unemployment rate fell to 7.7% from 7.9% where-as the consensus was looking for that to remain unchanged. However, the reasons behind the fall in the unemployment rate are not as encouraging. This household survey showed employment falling 122,000 with the only…Continue
Added by Francesc Riverola on December 7, 2012 at 5:39pm — No Comments
Bank of Tokyo-Mitsubishi - "EUR/USD – neutral bias – (1.2800-1.3250)
The euro is struggling for direction like most other major currencies heading into year end with EUR/USD still consolidating between 1.27-1.33. We do not anticipate that the current trading range will be broken in the week ahead. The euro is likely to trade on weaker footing following the dovish outlook presented by the ECB at today’s monetary policy meeting. Staff projections for both growth and inflation were revised…
Added by Francesc Riverola on December 7, 2012 at 5:06pm — No Comments
I must take my hatt off before Gal Ron and Michael Greenberg. Gal Ron is Conversionpros.com CEO and co-founder, organizer of the very succesful Google @ iFXEXPO Forex B2B Expo that took place last May in Cyprus, while Michael Greenberg is the CEO and Founder of ForexMagnates.com, organizer of the greatest London Summit that took place in London a few weeks ago. They have now partnered to bring us the iFXExpo Asia, that will take place in Macau at the end of January 2013.
My people was…Continue
Added by Francesc Riverola on December 7, 2012 at 4:43pm — No Comments
“Don't compare yourself with anyone in this…Continue
Added by Emporium Trading on December 7, 2012 at 12:29pm — No Comments
The rejection of levels above 9.0095 has been steady over the last 2 weeks but the market is now approaching 3 key levels.
1 - Marabuzo line from 5th Oct @ 8.6510 - pivotal area around this point as can be seen from attached chart.
2 - Ichimoku Cloud formation which is obviously a fluid area but one that is currently between the Marabuzo line and....
3 - A 50% correction of the Sept - Nov rise.
These levels should provide opportunities to buy/take profits. Longer term the…
Added by Alan Collins on December 7, 2012 at 12:22pm — No Comments
Added by Yohay Elam on December 7, 2012 at 12:15pm — No Comments